<SEC-DOCUMENT>0000812011-20-000059.txt : 20201026
<SEC-HEADER>0000812011-20-000059.hdr.sgml : 20201026
<ACCEPTANCE-DATETIME>20200924161044
ACCESSION NUMBER:		0000812011-20-000059
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		102
CONFORMED PERIOD OF REPORT:	20200731
FILED AS OF DATE:		20200924
DATE AS OF CHANGE:		20200924

FILER:

	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:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09614
		FILM NUMBER:		201195349

	BUSINESS ADDRESS:	
		STREET 1:		390 INTERLOCKEN CRESCENT
		STREET 2:		SUITE 1000
		CITY:			BROOMFIELD
		STATE:			CO
		ZIP:			80021
		BUSINESS PHONE:		303-404-1800

	MAIL ADDRESS:	
		STREET 1:		390 INTERLOCKEN CRESCENT
		STREET 2:		SUITE 1000
		CITY:			BROOMFIELD
		STATE:			CO
		ZIP:			80021
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>mtn2020073110-k.htm
<DESCRIPTION>10-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!--p:c1b1761b1e474a2eaf95c83708846b26,x:15d0bbdcd4a34da082d659f23ff86230-->
<!-- Document created using Wdesk  -->
<!-- Copyright 2020 Workiva -->
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:sheci="http://fasb.org/stm/sheci/2020-01-31" xmlns:sic-ent-all="http://xbrl.sec.gov/sic-ent-all/2020-01-31" xmlns:country-ent-all="http://xbrl.sec.gov/country-ent-all/2020-01-31" xmlns:othliab="http://fasb.org/dis/othliab/2020-01-31" xmlns:scf-indira="http://fasb.org/stm/scf-indira/2020-01-31" xmlns:scf-sd="http://fasb.org/stm/scf-sd/2020-01-31" xmlns:equity="http://fasb.org/dis/equity/2020-01-31" xmlns:us-roles="http://fasb.org/us-roles/2020-01-31" xmlns:ides="http://fasb.org/dis/ides/2020-01-31" xmlns:fs-bt="http://fasb.org/dis/fs-bt/2020-01-31" xmlns:crcpb="http://fasb.org/dis/crcpb/2020-01-31" xmlns:sfp-ucreo="http://fasb.org/stm/sfp-ucreo/2020-01-31" xmlns:country-std="http://xbrl.sec.gov/country-std/2020-01-31" xmlns:ei="http://fasb.org/dis/ei/2020-01-31" xmlns:ocpfs="http://fasb.org/dis/ocpfs/2020-01-31" xmlns:stpr-std="http://xbrl.sec.gov/stpr-std-std-std/2018-01-31" xmlns:cecl="http://fasb.org/dis/cecl/2020-01-31" xmlns:bsoff="http://fasb.org/dis/bsoff/2020-01-31" xmlns:srt-all="http://fasb.org/srt-all/2020-01-31" xmlns:stpr-all="http://xbrl.sec.gov/stpr-all-all-all/2018-01-31" xmlns:otherexp="http://fasb.org/dis/otherexp/2020-01-31" xmlns:scf-dbo="http://fasb.org/stm/scf-dbo/2020-01-31" xmlns:reorg="http://fasb.org/dis/reorg/2020-01-31" xmlns:dccpoa="http://fasb.org/dis/dccpoa/2020-01-31" xmlns:se="http://fasb.org/dis/se/2020-01-31" xmlns:sic-all="http://xbrl.sec.gov/sic-all/2020-01-31" xmlns:hco="http://fasb.org/dis/hco/2020-01-31" xmlns:soi="http://fasb.org/stm/soi/2020-01-31" xmlns:sec-mort="http://fasb.org/dis/sec-mort/2020-01-31" xmlns:schedoi-iiaa="http://fasb.org/dis/schedoi-iiaa/2020-01-31" xmlns:naics="http://xbrl.sec.gov/naics/2017-01-31" xmlns:debt="http://fasb.org/dis/debt/2020-01-31" xmlns:spc="http://fasb.org/stm/spc/2020-01-31" xmlns:ts="http://fasb.org/dis/ts/2020-01-31" xmlns:naics-ent-std="http://xbrl.sec.gov/naics-ent-std/2017-01-31" xmlns:rd="http://fasb.org/dis/rd/2020-01-31" xmlns:sr="http://fasb.org/dis/sr/2020-01-31" xmlns:stpr-ent-all="http://xbrl.sec.gov/stpr-ent-all-all-all/2018-01-31" xmlns:stpr-ent-std="http://xbrl.sec.gov/stpr-ent-std-std-std/2018-01-31" xmlns:edco="http://fasb.org/dis/edco/2020-01-31" xmlns:guar="http://fasb.org/dis/guar/2020-01-31" xmlns:te="http://fasb.org/dis/te/2020-01-31" xmlns:fs-ins="http://fasb.org/dis/fs-ins/2020-01-31" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:deprecated="http://www.xbrl.org/2009/arcrole/deprecated" xmlns:naics-all="http://xbrl.sec.gov/naics-all/2017-01-31" xmlns:ni="http://fasb.org/dis/ni/2020-01-31" xmlns:dr="http://fasb.org/dis/dr/2020-01-31" xmlns:schedoi-otsh="http://fasb.org/dis/schedoi-otsh/2020-01-31" xmlns:dei-all="http://xbrl.sec.gov/dei-all/2020-01-31" xmlns:exch-ent-all="http://xbrl.sec.gov/exch-ent-all/2020-01-31" xmlns:naics-std="http://xbrl.sec.gov/naics-std/2017-01-31" xmlns:us-arcroles="http://fasb.org/us-arcroles/2020-01-31" xmlns:soi-indira="http://fasb.org/stm/soi-indira/2020-01-31" xmlns:deprecated1="http://www.xbrl.org/2009/role/deprecated" xmlns:fs-mort="http://fasb.org/dis/fs-mort/2020-01-31" xmlns:sic="http://xbrl.sec.gov/sic/2020-01-31" xmlns:soi-ins="http://fasb.org/stm/soi-ins/2020-01-31" xmlns:iago="http://fasb.org/dis/iago/2020-01-31" xmlns:sfp-dbo="http://fasb.org/stm/sfp-dbo/2020-01-31" xmlns:con="http://fasb.org/dis/con/2020-01-31" xmlns:leas="http://fasb.org/dis/leas/2020-01-31" xmlns:com="http://fasb.org/stm/com/2020-01-31" xmlns:srt-roles="http://fasb.org/srt-roles/2020-01-31" xmlns:inv="http://fasb.org/dis/inv/2020-01-31" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:fs-interest="http://fasb.org/dis/fs-interest/2020-01-31" xmlns:exch-all="http://xbrl.sec.gov/exch-all/2020-01-31" xmlns:sic-ent-std="http://xbrl.sec.gov/sic-ent-std/2020-01-31" xmlns:oi="http://fasb.org/dis/oi/2020-01-31" xmlns:fs-fhlb="http://fasb.org/dis/fs-fhlb/2020-01-31" xmlns:mtn="http://www.vailresorts.com/20200731" xmlns:ctbl="http://fasb.org/dis/ctbl/2020-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2020-01-31" xmlns:country-all="http://xbrl.sec.gov/country-all/2020-01-31" xmlns:cn-part="http://fasb.org/cn-part/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:schedoi-fednote="http://fasb.org/dis/schedoi-fednote/2020-01-31" xmlns:srt-std="http://fasb.org/srt-std/2020-01-31" xmlns:crcgen="http://fasb.org/dis/crcgen/2020-01-31" xmlns:re="http://fasb.org/dis/re/2020-01-31" xmlns:ir="http://fasb.org/dis/ir/2020-01-31" xmlns:inctax="http://fasb.org/dis/inctax/2020-01-31" xmlns:soc="http://fasb.org/stm/soc/2020-01-31" xmlns:sec-cndfir="http://fasb.org/dis/sec-cndfir/2020-01-31" xmlns:us-gaap-all="http://fasb.org/us-gaap-all/2020-01-31" xmlns:sic-std="http://xbrl.sec.gov/sic-std/2020-01-31" xmlns:exch-std="http://xbrl.sec.gov/exch-std/2020-01-31" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:sec-sum="http://fasb.org/dis/sec-sum/2020-01-31" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:scf-sbo="http://fasb.org/stm/scf-sbo/2020-01-31" xmlns:regop="http://fasb.org/dis/regop/2020-01-31" xmlns:schedoi-shorthold="http://fasb.org/dis/schedoi-shorthold/2020-01-31" xmlns:ero="http://fasb.org/dis/ero/2020-01-31" xmlns:us-gaap-std="http://fasb.org/us-gaap-std/2020-01-31" xmlns:currency-ent-std="http://xbrl.sec.gov/currency-ent-std/2020-01-31" xmlns:schedoi-hold="http://fasb.org/dis/schedoi-hold/2020-01-31" xmlns:scf-re="http://fasb.org/stm/scf-re/2020-01-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:exch="http://xbrl.sec.gov/exch/2020-01-31" xmlns:invco="http://fasb.org/dis/invco/2020-01-31" xmlns:sec-vq="http://fasb.org/dis/sec-vq/2020-01-31" xmlns:soi-int="http://fasb.org/stm/soi-int/2020-01-31" xmlns:emjv="http://fasb.org/dis/emjv/2020-01-31" xmlns:rpd="http://fasb.org/dis/rpd/2020-01-31" xmlns:sfp-clreo="http://fasb.org/stm/sfp-clreo/2020-01-31" xmlns:soi-sbi="http://fasb.org/stm/soi-sbi/2020-01-31" xmlns:aro="http://fasb.org/dis/aro/2020-01-31" xmlns:sec-suppc="http://fasb.org/dis/sec-suppc/2020-01-31" xmlns:rlnro="http://fasb.org/dis/rlnro/2020-01-31" xmlns:pay="http://fasb.org/dis/pay/2020-01-31" xmlns:soi-re="http://fasb.org/stm/soi-re/2020-01-31" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:reference="http://www.xbrl.org/2009/role/reference" xmlns:soi-egm="http://fasb.org/stm/soi-egm/2020-01-31" xmlns:sec-reins="http://fasb.org/dis/sec-reins/2020-01-31" xmlns:soi-reit="http://fasb.org/stm/soi-reit/2020-01-31" xmlns:schedoi-sumhold="http://fasb.org/dis/schedoi-sumhold/2020-01-31" xmlns:eps="http://fasb.org/dis/eps/2020-01-31" xmlns:fifvd="http://fasb.org/dis/fifvd/2020-01-31" xmlns:sec-supins="http://fasb.org/dis/sec-supins/2020-01-31" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:us-types="http://fasb.org/us-types/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31" xmlns:naics-ent-all="http://xbrl.sec.gov/naics-ent-all/2017-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:crcrb="http://fasb.org/dis/crcrb/2020-01-31" xmlns:dei-ent-std="http://xbrl.sec.gov/dei-ent-std/2020-01-31" xmlns:bc="http://fasb.org/dis/bc/2020-01-31" xmlns:currency-std="http://xbrl.sec.gov/currency-std/2020-01-31" xmlns:lea="http://fasb.org/dis/lea/2020-01-31" xmlns:disops="http://fasb.org/dis/disops/2020-01-31" xmlns:scf-inv="http://fasb.org/stm/scf-inv/2020-01-31" xmlns:us-gaap-entryPoint-all="http://fasb.org/us-gaap-entryPoint-all/2020-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:crcsbp="http://fasb.org/dis/crcsbp/2020-01-31" xmlns:nt="http://fasb.org/dis/nt/2020-01-31" xmlns:fs-insa="http://fasb.org/dis/fs-insa/2020-01-31" xmlns:schedoi-oocw="http://fasb.org/dis/schedoi-oocw/2020-01-31" xmlns:cce="http://fasb.org/dis/cce/2020-01-31" xmlns:us-gaap-ent-std="http://fasb.org/us-gaap-ent-std/2020-01-31" xmlns:ceclcalc3l="http://fasb.org/dis/ceclcalc3l/2020-01-31" xmlns:sfp-cls="http://fasb.org/stm/sfp-cls/2020-01-31" xmlns:acec="http://fasb.org/dis/acec/2020-01-31" xmlns:sfp-ibo="http://fasb.org/stm/sfp-ibo/2020-01-31" xmlns:dei-ent-all="http://xbrl.sec.gov/dei-ent-all/2020-01-31" xmlns:sfp-sbo="http://fasb.org/stm/sfp-sbo/2020-01-31" xmlns:scf-indir="http://fasb.org/stm/scf-indir/2020-01-31" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:ceclcalc2="http://fasb.org/dis/ceclcalc2/2020-01-31" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:country-ent-std="http://xbrl.sec.gov/country-ent-std/2020-01-31" xmlns:scf-dir="http://fasb.org/stm/scf-dir/2020-01-31" xmlns:dei-std="http://xbrl.sec.gov/dei-std/2020-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:cc="http://fasb.org/dis/cc/2020-01-31" xmlns:rcc="http://fasb.org/dis/rcc/2020-01-31" xmlns:exch-ent-std="http://xbrl.sec.gov/exch-ent-std/2020-01-31" xmlns:ru="http://fasb.org/dis/ru/2020-01-31" xmlns:currency-all="http://xbrl.sec.gov/currency-all/2020-01-31" xmlns:foct="http://fasb.org/dis/foct/2020-01-31" xmlns:sec-re="http://fasb.org/dis/sec-re/2020-01-31" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:currency-ent-all="http://xbrl.sec.gov/currency-ent-all/2020-01-31" xmlns:fs-bd="http://fasb.org/dis/fs-bd/2020-01-31" xmlns:diha="http://fasb.org/dis/diha/2020-01-31" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:ap="http://fasb.org/dis/ap/2020-01-31" xmlns:ppe="http://fasb.org/dis/ppe/2020-01-31" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:eui="http://fasb.org/dis/eui/2020-01-31" xmlns:iaoi="http://fasb.org/dis/iaoi/2020-01-31" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
	<head>
		<meta http-equiv="Content-Type" content="text/html" />
		<title>Document</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="FD2020Q4YTD" name="dei:AmendmentFlag" id="Fact-EA77A6C9921B637F9A0F5D5D915DD6FB-wk-Fact-EA77A6C9921B637F9A0F5D5D915DD6FB" format="ixt:booleanfalse">false</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="dei:CurrentFiscalYearEndDate" id="Fact-A39B254C7B23F06CF3375D5D915D4B2C-wk-Fact-A39B254C7B23F06CF3375D5D915D4B2C">--07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="dei:DocumentFiscalPeriodFocus" id="Fact-A81AB6711397691EC2505D5D916B701C-wk-Fact-A81AB6711397691EC2505D5D916B701C">FY</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="dei:DocumentFiscalYearFocus" id="Fact-6582A26506BD4935EDBB5D5D916197E3-wk-Fact-6582A26506BD4935EDBB5D5D916197E3">2020</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="dei:EntityCentralIndexKey" id="Fact-B3DA82393DA18A0EC7315D5D9169DBFF-wk-Fact-B3DA82393DA18A0EC7315D5D9169DBFF">0000812011</ix:nonNumeric><ix:nonFraction decimals="INF" unitRef="usdPerShare" contextRef="FI2019Q4" name="mtn:ExchangeableSharesParValuePerShare" id="Fact-4004A483B8F0CDF3BCE1B223AD4BA970-wk-Fact-4004A483B8F0CDF3BCE1B223AD4BA970">0.01</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="mtn:ExchangeableSharesSharesIssued" id="Fact-037AB792791E5EE491F95D5D91378802-wk-Fact-037AB792791E5EE491F95D5D91378802">56000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="mtn:ExchangeableSharesSharesIssued" id="Fact-CD3E3B71AB44C3B2B6E65D5D913FE86F-wk-Fact-CD3E3B71AB44C3B2B6E65D5D913FE86F">36000</ix:nonFraction><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember" name="mtn:LesseeOperatingAndFinanceLeaseTerm" id="Fact-8ED92958D4B41BF094879A929150BDDC-wk-Fact-8ED92958D4B41BF094879A929150BDDC">P60Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember" name="mtn:LesseeOperatingAndFinanceLeaseTerm" id="Fact-9A8220E72E45698A6CEE9A925D9024F6-wk-Fact-9A8220E72E45698A6CEE9A925D9024F6">P1Y</ix:nonNumeric><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2019Q4" name="us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent" id="Fact-89C8FECC6166AC2235665D5D9142C138-wk-Fact-89C8FECC6166AC2235665D5D9142C138">724000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent" id="Fact-34153E6008189B162C875D5D913D5E02-wk-Fact-34153E6008189B162C875D5D913D5E02">2484000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="usdPerShare" contextRef="FI2019Q4" name="us-gaap:CommonStockParOrStatedValuePerShare" id="Fact-348B631C17B803E6A1275D5D913AF2BC-wk-Fact-348B631C17B803E6A1275D5D913AF2BC">0.01</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="usdPerShare" contextRef="FI2020Q4" name="us-gaap:CommonStockParOrStatedValuePerShare" id="Fact-E91A211B894DCAB649765D5D9137D8B0-wk-Fact-E91A211B894DCAB649765D5D9137D8B0">0.01</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:CommonStockSharesAuthorized" id="Fact-0293AA44A758863BAEF75D5D914498CB-wk-Fact-0293AA44A758863BAEF75D5D914498CB">100000000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:CommonStockSharesAuthorized" id="Fact-8787D44FC9692F75848A5D5D912EE76A-wk-Fact-8787D44FC9692F75848A5D5D912EE76A">100000000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:CommonStockSharesIssued" id="Fact-9705F0B0DD6EA0140CC75D5D913EF803-wk-Fact-9705F0B0DD6EA0140CC75D5D913EF803">46190000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:CommonStockSharesIssued" id="Fact-3171856AD06765A8601B5D5D91388327-wk-Fact-3171856AD06765A8601B5D5D91388327">46350000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" id="Fact-14FCD1304D32BD4E5CDC5D5D91496F44-wk-Fact-14FCD1304D32BD4E5CDC5D5D91496F44">0.001</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" id="Fact-7F8B74C1894B7FA9E6595D5D914B6233-wk-Fact-7F8B74C1894B7FA9E6595D5D914B6233">0</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" id="Fact-544691CBC429BE6370915D5D91499AAD-wk-Fact-544691CBC429BE6370915D5D91499AAD">0.0125</ix:nonFraction><ix:nonNumeric contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" name="us-gaap:DebtInstrumentDescriptionOfVariableRateBasis" id="Fact-74C7C894788BD481529E5D5D9196DDFF-wk-Fact-74C7C894788BD481529E5D5D9196DDFF">LIBOR plus 0% to 0.05%</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" name="us-gaap:DebtInstrumentMaturityDateRangeEnd1" id="Fact-5F8C9BC67C0FDDC945E65D5D91973815-wk-Fact-5F8C9BC67C0FDDC945E65D5D91973815">2039-05-01</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" name="us-gaap:DebtInstrumentMaturityDateRangeEnd1" id="Fact-D1DA3A5B8D036AC5C7F95D5D91950114-wk-Fact-D1DA3A5B8D036AC5C7F95D5D91950114">2033-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" name="us-gaap:DebtInstrumentMaturityDateRangeStart1" id="Fact-0FB42B4E2F9DD9D87B325D5D9195D625-wk-Fact-0FB42B4E2F9DD9D87B325D5D9195D625">2027-06-01</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" name="us-gaap:DebtInstrumentMaturityDateRangeStart1" id="Fact-CBA05CDBE906DFABBD515D5D91991460-wk-Fact-CBA05CDBE906DFABBD515D5D91991460">2020-07-31</ix:nonNumeric><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" id="Fact-33BF552136695F3153CE5D5D90F1ECE0-wk-Fact-33BF552136695F3153CE5D5D90F1ECE0">4326000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" id="Fact-A3D8F7C260FF078F0B815D5D90F18748-wk-Fact-A3D8F7C260FF078F0B815D5D90F18748">4326000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" id="Fact-FA3DAD33BA9248D2E3525D5D90F035DC-wk-Fact-FA3DAD33BA9248D2E3525D5D90F035DC">4326000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" id="Fact-8C96FAFAC0B9F3A8E4075D5D90F1CB02-wk-Fact-8C96FAFAC0B9F3A8E4075D5D90F1CB02">4326000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2019Q4" name="us-gaap:InventoryValuationReserves" id="Fact-3F840F733E5C4C86BEDB5D5D9141B185-wk-Fact-3F840F733E5C4C86BEDB5D5D9141B185">2031000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FI2020Q4" name="us-gaap:InventoryValuationReserves" id="Fact-A683AA4C9C161AFB972A5D5D913E5B71-wk-Fact-A683AA4C9C161AFB972A5D5D913E5B71">4447000</ix:nonFraction><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" name="us-gaap:LeaseExpirationDate1" id="Fact-E68890FE119910AD8B6F98035A3D2580-wk-Fact-E68890FE119910AD8B6F98035A3D2580">2079-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekMember" name="us-gaap:LeaseExpirationDate1" id="Fact-0B8969F2DE01E90C415C9801E29DEFC3-wk-Fact-0B8969F2DE01E90C415C9801E29DEFC3">2041-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_HothamMember" name="us-gaap:LeaseExpirationDate1" id="Fact-9245E07C9DC060608D9C9802D1D37540-wk-Fact-9245E07C9DC060608D9C9802D1D37540">2058-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember" name="us-gaap:LeaseExpirationDate1" id="Fact-F7AB177C20D2F5990BF09800CE90565A-wk-Fact-F7AB177C20D2F5990BF09800CE90565A">2027-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember" name="us-gaap:LeaseExpirationDate1" id="Fact-15ADE2206F2760F8F1DC98013ED349F7-wk-Fact-15ADE2206F2760F8F1DC98013ED349F7">2048-07-31</ix:nonNumeric><ix:nonNumeric contextRef="FI2019Q4" name="us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" id="Fact-56B1AB00DC4CFEB7960C9E89FF8C70E4-wk-Fact-56B1AB00DC4CFEB7960C9E89FF8C70E4">mtn:AccountsPayableAccruedLiabilities</ix:nonNumeric><ix:nonNumeric contextRef="FI2020Q4" name="us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" id="Fact-ADC8AD2CD776C018258E9E74B810E0CE-wk-Fact-ADC8AD2CD776C018258E9E74B810E0CE">mtn:AccountsPayableAccruedLiabilities</ix:nonNumeric><ix:nonNumeric contextRef="I2020Q1Adoption" name="us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" id="Fact-2C700EB6490BE07CA4B09E8A008BD421-wk-Fact-2C700EB6490BE07CA4B09E8A008BD421">mtn:AccountsPayableAccruedLiabilities</ix:nonNumeric><ix:nonFraction decimals="INF" unitRef="usdPerShare" contextRef="FI2019Q4" name="us-gaap:PreferredStockParOrStatedValuePerShare" id="Fact-0B1990BEB79A224885235D5D913B2ACE-wk-Fact-0B1990BEB79A224885235D5D913B2ACE">0.01</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="usdPerShare" contextRef="FI2020Q4" name="us-gaap:PreferredStockParOrStatedValuePerShare" id="Fact-A7642D12A0D3263BBAD65D5D913FFECF-wk-Fact-A7642D12A0D3263BBAD65D5D913FFECF">0.01</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:PreferredStockSharesAuthorized" id="Fact-EF829C7D445F7D74132F5D5D912FE745-wk-Fact-EF829C7D445F7D74132F5D5D912FE745">25000000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:PreferredStockSharesAuthorized" id="Fact-D1E2CBB1CEF89FAE51F45D5D913B6C27-wk-Fact-D1E2CBB1CEF89FAE51F45D5D913B6C27">25000000</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:PreferredStockSharesIssued" id="Fact-1E11985FDE2357DEB9605D5D913345F3-wk-Fact-1E11985FDE2357DEB9605D5D913345F3">0</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:PreferredStockSharesIssued" id="Fact-80D2AA74422F81EBE8735D5D913D2802-wk-Fact-80D2AA74422F81EBE8735D5D913D2802">0</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:PreferredStockSharesOutstanding" id="Fact-EFEEA7A26DDBE1E31B1D5D5D91431392-wk-Fact-EFEEA7A26DDBE1E31B1D5D5D91431392">0</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:PreferredStockSharesOutstanding" id="Fact-C52F2116F35EABC3A0915D5D9145B4D7-wk-Fact-C52F2116F35EABC3A0915D5D9145B4D7">0</ix:nonFraction><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-FB203C17E5FADBCE47095D5D9191B235-wk-Fact-FB203C17E5FADBCE47095D5D9191B235">P30Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-5F5C3B5E0F02C1B253CE5D5D91950A90-wk-Fact-5F5C3B5E0F02C1B253CE5D5D91950A90">P10Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-BC722363C48E513ECB415D5D9193B4D2-wk-Fact-BC722363C48E513ECB415D5D9193B4D2">P35Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-348698B33570B210EA635D5D9191910C-wk-Fact-348698B33570B210EA635D5D9191910C">P30Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-407D28336984A76836145D5D9197DC1E-wk-Fact-407D28336984A76836145D5D9197DC1E">P10Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-00F863A40351877AB0DE5D5D9199D756-wk-Fact-00F863A40351877AB0DE5D5D9199D756">P7Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-B0146B3A6F098CE9A5DD5D5D919224A1-wk-Fact-B0146B3A6F098CE9A5DD5D5D919224A1">P3Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-ECCAB0997B14286749505D5D9190AAA3-wk-Fact-ECCAB0997B14286749505D5D9190AAA3">P10Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-76D94F746602CA6997D65D5D9191FA50-wk-Fact-76D94F746602CA6997D65D5D9191FA50">P2Y</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="Fact-0CA608D4C33FD305238A5D5D919274A1-wk-Fact-0CA608D4C33FD305238A5D5D919274A1">P3Y</ix:nonNumeric><ix:nonFraction decimals="-5" unitRef="usd" contextRef="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" name="us-gaap:RevenueFromRelatedParties" id="Fact-63F19B1FAABE21A044115D5D90EA4F37-wk-Fact-63F19B1FAABE21A044115D5D90EA4F37">0</ix:nonFraction><ix:nonFraction decimals="-5" unitRef="usd" contextRef="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" name="us-gaap:RevenueFromRelatedParties" id="Fact-10431A0833DB84732F395D5D90EA76AC-wk-Fact-10431A0833DB84732F395D5D90EA76AC">0</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2018Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" id="Fact-C947368771CF8C8E73DD5D5D90F5AE3A-wk-Fact-C947368771CF8C8E73DD5D5D90F5AE3A">0.023</ix:nonFraction><ix:nonFraction decimals="4" unitRef="number" contextRef="FD2019Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" id="Fact-4BBEB8CC31FD4FFDB8BA5D5D91BB38E4-wk-Fact-4BBEB8CC31FD4FFDB8BA5D5D91BB38E4">0.0290</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2020Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" id="Fact-E11C2B91B1DF1680F3FD5D5D91AAF430-wk-Fact-E11C2B91B1DF1680F3FD5D5D91AAF430">0.02</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2018Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" id="Fact-554B3B1F1E11EF61EE305D5D90C97A20-wk-Fact-554B3B1F1E11EF61EE305D5D90C97A20">0.012</ix:nonFraction><ix:nonFraction decimals="4" unitRef="number" contextRef="FD2019Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" id="Fact-96B9323650C9776F45A85D5D91B78B48-wk-Fact-96B9323650C9776F45A85D5D91B78B48">0.0240</ix:nonFraction><ix:nonFraction decimals="INF" unitRef="number" contextRef="FD2020Q4YTD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" id="Fact-383323C1028F32DE23AD5D5D90C84B14-wk-Fact-383323C1028F32DE23AD5D5D90C84B14">0.018</ix:nonFraction><ix:nonNumeric contextRef="FD2018Q4YTD_srt_RangeAxis_srt_MaximumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-F679B949E1C8BC21E81F5D5D90D36DFB-wk-Fact-F679B949E1C8BC21E81F5D5D90D36DFB">P6Y5M</ix:nonNumeric><ix:nonNumeric contextRef="FD2018Q4YTD_srt_RangeAxis_srt_MinimumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-B8F45C63824297ED1EE85D5D91B304EA-wk-Fact-B8F45C63824297ED1EE85D5D91B304EA">P5Y10M</ix:nonNumeric><ix:nonNumeric contextRef="FD2019Q4YTD_srt_RangeAxis_srt_MaximumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-CD90DC88AC2238445A245D5D90CF1300-wk-Fact-CD90DC88AC2238445A245D5D90CF1300">P6Y7M</ix:nonNumeric><ix:nonNumeric contextRef="FD2019Q4YTD_srt_RangeAxis_srt_MinimumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-CC9C928737B8A0C92F815D5D91A4F764-wk-Fact-CC9C928737B8A0C92F815D5D91A4F764">P6Y0M</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-D9AEF4BA84CD99DD7CF65D5D90F660A9-wk-Fact-D9AEF4BA84CD99DD7CF65D5D90F660A9">P7Y1M</ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" id="Fact-8657BFD193F3EBF891605D5D91C033E6-wk-Fact-8657BFD193F3EBF891605D5D91C033E6">P6Y6M</ix:nonNumeric><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FD2018Q4YTD" name="us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit" id="Fact-E951DFF74B4543DE275B5D5D916CF004-wk-Fact-E951DFF74B4543DE275B5D5D916CF004">1981000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FD2019Q4YTD" name="us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit" id="Fact-9D45456016487EA65CD95D5D916C006F-wk-Fact-9D45456016487EA65CD95D5D916C006F">0</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="usd" contextRef="FD2020Q4YTD" name="us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit" id="Fact-97987D825D6BCC5DE2595D5D916D4A07-wk-Fact-97987D825D6BCC5DE2595D5D916D4A07">0</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="shares" contextRef="FI2019Q4" name="us-gaap:TreasuryStockShares" id="Fact-493ACACAE9A68AB88C905D5D913133C6-wk-Fact-493ACACAE9A68AB88C905D5D913133C6">5905000</ix:nonFraction><ix:nonFraction decimals="-3" unitRef="shares" contextRef="FI2020Q4" name="us-gaap:TreasuryStockShares" id="Fact-EF063A20FA2488E3B10E5D5D9138183A-wk-Fact-EF063A20FA2488E3B10E5D5D9138183A">6161000</ix:nonFraction></ix:hidden><ix:references><link:schemaRef xlink:href="mtn-20200731.xsd" xlink:type="simple"></link:schemaRef></ix:references><ix:resources><xbrli:context id="FD2020Q4YTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q2">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-01-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2021Q1SharesOutstanding">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-09-21</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2017-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:SoftwareAndSoftwareDevelopmentCostsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2020Q1Adoption">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-08-01</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IndefiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:GoodwillMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IndefiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:FiniteLivedIntangibleAssetsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:MachineryAndEquipmentMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:MachineryAndEquipmentMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:LandImprovementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:BuildingAndBuildingImprovementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:FurnitureAndFixturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:VehiclesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:LandImprovementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:FurnitureAndFixturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:VehiclesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:BuildingAndBuildingImprovementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-08-01</xbrli:startDate>
			<xbrli:endDate>2017-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-08-01</xbrli:startDate>
			<xbrli:endDate>2017-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_EventofDefaultMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:EventofDefaultMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear2Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:ExtensionYear2Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2013-05-28</xbrli:startDate>
			<xbrli:endDate>2013-05-29</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes1Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotes1Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:JackFrostBigBoulderSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_HunterMountainSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:ColoradoWaterConservationBoardNoteOutstandingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes2Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotes2Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:ColoradoWaterConservationBoardNoteOutstandingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:BostonMillsBrandywineSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanHedgedPortionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanHedgedPortionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanUnhedgedPortionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanUnhedgedPortionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear1Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:ExtensionYear1Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:AlpineValleySecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_MountSnowSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:MountSnowSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:MountSnowSecuredNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EB5DevelopmentNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-09-24</xbrli:startDate>
			<xbrli:endDate>2019-09-24</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2020Q1PeakAcquisition_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-09-24</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2018-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_KeystoneAndIntrawestLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:KeystoneAndIntrawestLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_ClintonDitchAndReservoirCompanyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:ClintonDitchAndReservoirCompanyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_country_US">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">country:US</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_ForeignCountryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:ForeignCountryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_IncomeTaxAuthorityAxis_us-gaap_InterestExpenseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:InterestExpenseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_StateAndLocalJurisdictionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LossContingenciesByNatureOfContingencyAxis">mtn:WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PerisherMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_EmployeeHousingBondsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:LossContingenciesByNatureOfContingencyAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:NorthstarMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:HollandCreekMetropolitanDistrictMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:HollandCreekMetropolitanDistrictMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_HothamMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:HothamMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2020-05-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q2QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-11-01</xbrli:startDate>
			<xbrli:endDate>2020-01-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q3QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2020-02-01</xbrli:startDate>
			<xbrli:endDate>2020-04-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q1QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2019-10-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q3QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-02-01</xbrli:startDate>
			<xbrli:endDate>2019-04-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q1QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2018-10-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q2QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-11-01</xbrli:startDate>
			<xbrli:endDate>2019-01-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4QTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-05-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2008Q4SD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2008-07-16</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2016Q2SharesAuthorized">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-04</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="I2006Q3">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2006-03-09</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2019-08-01</xbrli:startDate>
			<xbrli:endDate>2020-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2019-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2020-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2023Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2023-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2022Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2022-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FI2021Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2021-07-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_RangeAxis_srt_MinimumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_RangeAxis_srt_MinimumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2019Q4YTD_srt_RangeAxis_srt_MaximumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2018-08-01</xbrli:startDate>
			<xbrli:endDate>2019-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:context id="FD2018Q4YTD_srt_RangeAxis_srt_MaximumMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000812011</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2017-08-01</xbrli:startDate>
			<xbrli:endDate>2018-07-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context><xbrli:unit id="usd">
		<xbrli:measure>iso4217:USD</xbrli:measure>
	</xbrli:unit><xbrli:unit id="number">
		<xbrli:measure>xbrli:pure</xbrli:measure>
	</xbrli:unit><xbrli:unit id="shares">
		<xbrli:measure>xbrli:shares</xbrli:measure>
	</xbrli:unit><xbrli:unit id="cad">
		<xbrli:measure>iso4217:CAD</xbrli:measure>
	</xbrli:unit><xbrli:unit id="usdPerShare">
		<xbrli:divide>
			<xbrli:unitNumerator>
				<xbrli:measure>iso4217:USD</xbrli:measure>
			</xbrli:unitNumerator>
			<xbrli:unitDenominator>
				<xbrli:measure>xbrli:shares</xbrli:measure>
			</xbrli:unitDenominator>
		</xbrli:divide>
	</xbrli:unit><xbrli:unit id="aud">
		<xbrli:measure>iso4217:AUD</xbrli:measure>
	</xbrli:unit><xbrli:unit id="director">
		<xbrli:measure>mtn:director</xbrli:measure>
	</xbrli:unit><xbrli:unit id="hour">
		<xbrli:measure>mtn:hour</xbrli:measure>
	</xbrli:unit></ix:resources></ix:header></div><div><a id="s73E7662E079A56898835F66AECC08CBD"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:18pt;"><span style="font-family:inherit;font-size:18pt;font-weight:bold;">UNITED STATES</span></div><div style="line-height:120%;text-align:center;font-size:18pt;"><span style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="line-height:120%;text-align:center;font-size:12pt;"><span style="font-family:inherit;font-size:12pt;font-weight:bold;">WASHINGTON, D.C. 20549</span></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:20pt;"><span style="font-family:inherit;font-size:18pt;font-weight:bold;">FORM </span><span><ix:nonNumeric id="d5394186e673-wk-Fact-57762B8735A2A9E10DE67DEAEC5A01C3" name="dei:DocumentType" contextRef="FD2020Q4YTD"><span style="font-size:18pt;font-weight:bold;">10-K</span></ix:nonNumeric></span><span style="font-family:inherit;font-size:18pt;font-weight:bold;"> </span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:6%;"></td><td style="width:94%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:20pt;"><span style="font-family:Arial Unicode MS;font-size:20pt;"><span><ix:nonNumeric id="d5394186e690-wk-Fact-7749F80DDD258D6255737DEB7AA213B8" name="dei:DocumentAnnualReport" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox">&#9746;</ix:nonNumeric></span></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</span></div><div style="text-align:left;font-size:12pt;"><span style="font-family:inherit;font-size:12pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For the fiscal year ended </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap"><ix:nonNumeric id="d5394186e702-wk-Fact-EB990E2E2BD20372CB0380F816EF870D" name="dei:DocumentPeriodEndDate" contextRef="FD2020Q4YTD" format="ixt:datemonthdayyearen">July 31, 2020</ix:nonNumeric></span></span></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">or</span></div><div style="line-height:120%;text-align:center;font-size:20pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:6%;"></td><td style="width:94%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:20pt;"><span style="font-family:Arial Unicode MS;font-size:20pt;"><span><ix:nonNumeric id="d5394186e722-wk-Fact-A1F9C0D52BDFE08AB9F07DECB687D312" name="dei:DocumentTransitionReport" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></span></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For the transition period from to &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commission File Number:&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e735-wk-Fact-487AE7884CFDBE9CF8E57E5E4F211E3B" name="dei:EntityFileNumber" contextRef="FD2020Q4YTD">001-09614</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:16px;text-align:center;"><img src="vaila08.jpg" alt="vaila08.jpg" style="height:76px;width:434px;"></img></div><div style="line-height:120%;padding-top:6px;text-align:center;font-size:24pt;"><span><ix:nonNumeric id="d5394186e742-wk-Fact-78432C9F0F521E510EAD7E5EB3F0C961" name="dei:EntityRegistrantName" contextRef="FD2020Q4YTD"><span style="font-size:24pt;font-weight:bold;">Vail Resorts, Inc.</span></ix:nonNumeric></span><span style="font-family:inherit;font-size:18pt;font-weight:bold;"> </span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Exact name of registrant as specified in its charter)</span></div><div style="line-height:120%;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:32%;"></td><td style="width:33%;"></td><td style="width:2%;"></td><td style="width:33%;"></td></tr><tr><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e769-wk-Fact-7D6319377E20AA85B06B7E5F33964972" name="dei:EntityIncorporationStateCountryCode" contextRef="FD2020Q4YTD" format="ixt-sec:stateprovnameen">Delaware</ix:nonNumeric></span></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e784-wk-Fact-26E13297239AAACB9D197E5FC14570F1" name="dei:EntityTaxIdentificationNumber" contextRef="FD2020Q4YTD">51-0291762</ix:nonNumeric></span></span></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">(State or other jurisdiction of incorporation or organization)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">(I.R.S. Employer Identification No.)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e832-wk-Fact-5994D317D25F4105A5887E5FFD90AD2B" name="dei:EntityAddressAddressLine1" contextRef="FD2020Q4YTD">390 Interlocken Crescent</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e853-wk-Fact-4C4F55B53AD8035407057E603A918844" name="dei:EntityAddressCityOrTown" contextRef="FD2020Q4YTD">Broomfield, </ix:nonNumeric></span></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e858-wk-Fact-9F69660063EA28700B2B7E60772F9BCF" name="dei:EntityAddressStateOrProvince" contextRef="FD2020Q4YTD" format="ixt-sec:stateprovnameen">Colorado</ix:nonNumeric></span></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e868-wk-Fact-DF8138ECA49B9D697C347E60B2A8E783" name="dei:EntityAddressPostalZipCode" contextRef="FD2020Q4YTD">80021</ix:nonNumeric></span></span></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">(Address of principal executive offices)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">(Zip Code)</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:328px;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:164px;"></td><td style="width:164px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e904-wk-Fact-15520733646186FE62FF7E611CCE4BD7" name="dei:CityAreaCode" contextRef="FD2020Q4YTD">(303) </ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e909-wk-Fact-993F2AC021743EBCF1867E6144F7F939" name="dei:LocalPhoneNumber" contextRef="FD2020Q4YTD">404-1800</ix:nonNumeric></span></span></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Registrant&#8217;s telephone number, including area code)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Securities registered pursuant to Section&#160;12(b) of the Act:</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:39%;"></td><td style="width:22%;"></td><td style="width:39%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Title of each class</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trading Symbol</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Name of each exchange on which registered</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e955-wk-Fact-EF5C55CBC434BF17B0947E61DA676857" name="dei:Security12bTitle" contextRef="FD2020Q4YTD">Common Stock, $0.01 par value</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e960-wk-Fact-37CFD45309F6173793027E6202762036" name="dei:TradingSymbol" contextRef="FD2020Q4YTD">MTN</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"><span><ix:nonNumeric id="d5394186e965-wk-Fact-6CE4B8E3856A9285D64D7E623F2F38E9" name="dei:SecurityExchangeName" contextRef="FD2020Q4YTD" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></span></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Securities registered pursuant to Section&#160;12(g) of the Act:</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:85px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:85px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">None</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Title of class)</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e997-wk-Fact-9C445FBB8E9F515F3AC97E62A6D74048" name="dei:EntityWellKnownSeasonedIssuer" contextRef="FD2020Q4YTD">Yes</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;No</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark if the registrant is not required to file reports pursuant to Section&#160;13 or Section&#160;15(d) of the Act.&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;Yes&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e1016-wk-Fact-1AD2ABFC87A7C121ACED7E649CA93109" name="dei:EntityVoluntaryFilers" contextRef="FD2020Q4YTD">No</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant (1)&#160;has filed all reports required to be filed by Section&#160;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2)&#160;has been subject to such filing requirements for the past 90 days.</span></div><div><br/></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e1029-wk-Fact-AE2F61F4359667275A317E6540ED339B" name="dei:EntityCurrentReportingStatus" contextRef="FD2020Q4YTD">Yes</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;No</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule&#160;405 of Regulation S-T </span><span style="font-family:inherit;font-size:9pt;">(&#167; 232.405 of this chapter) </span><span style="font-family:inherit;font-size:10pt;">during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</span></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e1049-wk-Fact-675A40C42F356B17CE0E7E659F0C1FE1" name="dei:EntityInteractiveDataCurrent" contextRef="FD2020Q4YTD">Yes</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">&#160; </span><span style="font-family:Wingdings;font-size:10pt;">&#168;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;No</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</span></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:86.1328125%;border-collapse:collapse;text-align:left;"><tr><td colspan="6"></td></tr><tr><td style="width:26%;"></td><td style="width:4%;"></td><td style="width:27%;"></td><td style="width:3%;"></td><td style="width:37%;"></td><td style="width:3%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5394186e1077-wk-Fact-34D4EAA3E899CA205F167E68CD5C725A" name="dei:EntityFilerCategory" contextRef="FD2020Q4YTD" format="ixt-sec:entityfilercategoryen">Large accelerated filer</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accelerated&#160;filer</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Non-accelerated filer</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Smaller&#160;reporting&#160;company</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;"><span><ix:nonNumeric id="d5394186e1133-wk-Fact-E9191276A7AE4BF93F857E693E2CD222" name="dei:EntitySmallBusiness" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></span></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Emerging growth company</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:Arial Unicode MS;font-size:12pt;"><span><ix:nonNumeric id="d5394186e1164-wk-Fact-35D557EF259D7F9A6BE67E6977D6C429" name="dei:EntityEmergingGrowthCompany" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></span></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:12pt;"><span style="font-family:inherit;font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant has filed a report on and attestation to its management&#8217;s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. </span><span><ix:nonNumeric id="d5394186e1176-wk-Fact-EE6C1841628579DEF8B57E6A65273AA4" name="dei:IcfrAuditorAttestationFlag" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span></ix:nonNumeric></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).</span></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><span><ix:nonNumeric id="d5394186e1185-wk-Fact-1FFE3336AC861697DF127E6B4A0B72D2" name="dei:EntityShellCompany" contextRef="FD2020Q4YTD" format="ixt-sec:boolballotbox"><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9744;</span></ix:nonNumeric></span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;Yes&#160;&#160;</span><span style="font-family:Arial Unicode MS;font-size:12pt;">&#9746;</span><span style="font-family:inherit;font-size:10pt;">&#160;&#160;</span><span style="font-family:inherit;font-size:10pt;">No</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on the closing price of $234.51 per share as reported on the New York Stock Exchange Composite Tape on January&#160;31, 2020 (the last business day of the registrant&#8217;s most recently completed second fiscal quarter) was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5394186e1201-wk-Fact-7723B80DF6DCCFA3A14D7E6CE9958DD2" name="dei:EntityPublicFloat" contextRef="FI2020Q2" unitRef="usd" decimals="0" scale="0" format="ixt:numdotdecimal">9,336,675,376</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of September 21, 2020, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5394186e1209-wk-Fact-8D94A8002B8D2E09DB5C83FB5E08F429" name="dei:EntityCommonStockSharesOutstanding" contextRef="I2021Q1SharesOutstanding" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">40,189,225</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> shares of the registrant&#8217;s common stock were outstanding.</span></div><div style="line-height:120%;padding-bottom:8px;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">DOCUMENTS INCORPORATED BY REFERENCE</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Portions of the registrant&#8217;s definitive Proxy Statement for its 2020 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days of July&#160;31, 2020 are incorporated by reference herein into Part III, Items 10 through 14, of this Annual Report. </span></div><div><br/></div><hr style="page-break-after:always"></hr><div><a id="sDF5BF1E4D35959C48CDC14658D7428AE"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Table of Contents</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:14%;"></td><td style="width:70%;"></td><td style="width:16%;"></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;" href="#s95BDC977B14B515586BB58C18BC40A06"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;">PART I</span></a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;1.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s79EEA9AE6000564DAE36293D14A0EBD8"><span style="font-family:inherit;font-size:10pt;">Business</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s79EEA9AE6000564DAE36293D14A0EBD8">4</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;1A.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s047BFB1C19995EF584E9F0E68F81C7D1"><span style="font-family:inherit;font-size:10pt;">Risk Factors</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s047BFB1C19995EF584E9F0E68F81C7D1">18</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;1B.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s0A73E09520D9540EA1C82F1FD008BE7B"><span style="font-family:inherit;font-size:10pt;">Unresolved Staff Comments</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0A73E09520D9540EA1C82F1FD008BE7B">33</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;2.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sEB3E21359FD8553EBB920FBBAEFA1100"><span style="font-family:inherit;font-size:10pt;">Properties</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sEB3E21359FD8553EBB920FBBAEFA1100">33</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;3.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sB81E8856CCC45B1FB8EF800B20FD09C4"><span style="font-family:inherit;font-size:10pt;">Legal Proceedings</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sB81E8856CCC45B1FB8EF800B20FD09C4">36</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;4.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s99DFF0F66234549EBFAE8DD7F2BC864A"><span style="font-family:inherit;font-size:10pt;">Mine Safety Disclosures</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s99DFF0F66234549EBFAE8DD7F2BC864A">36</a></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;" href="#sF046C6857C2D55C8A79AC8D51818C962"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;">PART II</span></a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;5.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s25E73A963CE457CF92F32A226A0E89F1"><span style="font-family:inherit;font-size:10pt;">Market for Registrant&#8217;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s25E73A963CE457CF92F32A226A0E89F1">37</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;6.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s32C0082FDA9A512DA8FFC86CD2AF40CB"><span style="font-family:inherit;font-size:10pt;">Selected Financial Data</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s32C0082FDA9A512DA8FFC86CD2AF40CB">38</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;7.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s0A36D2749B1959DEB7404E69839BAFDE"><span style="font-family:inherit;font-size:10pt;">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0A36D2749B1959DEB7404E69839BAFDE">41</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;7A.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s11BA6669026D55C2BFC7F3DC00DE8A31"><span style="font-family:inherit;font-size:10pt;">Quantitative and Qualitative Disclosures About Market Risk</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s11BA6669026D55C2BFC7F3DC00DE8A31">66</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;8.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s9D102D56579550179BDC2DD856BBF14A"><span style="font-family:inherit;font-size:10pt;">Financial Statements and Supplementary Data</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;text-align:right;" href="#s9D102D56579550179BDC2DD856BBF14A">67</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;9.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s625211B792ED5259AA9D29759D2619D2"><span style="font-family:inherit;font-size:10pt;">Changes in and Disagreements With Accountants on Accounting and Financial Disclosure</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s625211B792ED5259AA9D29759D2619D2">112</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;9A.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sB31A05869E6452488EB59EDA506B9812"><span style="font-family:inherit;font-size:10pt;">Controls and Procedures</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sB31A05869E6452488EB59EDA506B9812">112</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;9B.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sA4E953A76AB85BB6BA13FEF827DEA052"><span style="font-family:inherit;font-size:10pt;">Other Information</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA4E953A76AB85BB6BA13FEF827DEA052">113</a></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;" href="#sE291879C7AA35075B08A3C8A62E524E5"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;">PART III</span></a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;10.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sFED30FF2B2EF53E4B0884D4555DF1CF7"><span style="font-family:inherit;font-size:10pt;">Directors, Executive Officers and Corporate Governance</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sFED30FF2B2EF53E4B0884D4555DF1CF7">113</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;11.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sC687CA4E728F5933BCA2C491B43194D9"><span style="font-family:inherit;font-size:10pt;">Executive Compensation</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC687CA4E728F5933BCA2C491B43194D9">113</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;12.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s1A763CCFF80D515FA62AB00F4EDA5D42"><span style="font-family:inherit;font-size:10pt;">Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s1A763CCFF80D515FA62AB00F4EDA5D42">113</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;13.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s5786F7DA125B55B5B10EEC2D264E69B7"><span style="font-family:inherit;font-size:10pt;">Certain Relationships and Related Transactions, and Director Independence</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s5786F7DA125B55B5B10EEC2D264E69B7">114</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;14.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s0ADAA6AFDD3D5E94A5B2A6919E042D60"><span style="font-family:inherit;font-size:10pt;">Principal Accounting Fees and Services</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0ADAA6AFDD3D5E94A5B2A6919E042D60">114</a></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;" href="#s533719D7E0D654ADBA61ABAC0EBCC547"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;">PART IV</span></a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item&#160;15.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s343B08FC540856B886B9FE1FBCE8FE5A"><span style="font-family:inherit;font-size:10pt;">Exhibits, Financial Statement Schedules</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s343B08FC540856B886B9FE1FBCE8FE5A">114</a></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Item 16.</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s500A35B820E95B3DBFB0FD8955711EF3"><span style="font-family:inherit;font-size:10pt;">Form 10-K Summary</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s500A35B820E95B3DBFB0FD8955711EF3">117</a></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sE951D76DFC995F818084C74F69F6B0C7"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:12pt;"><span style="font-family:inherit;font-size:12pt;font-weight:bold;">FORWARD-LOOKING STATEMENTS</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Except for any historical information contained herein, the matters discussed or incorporated by reference in this Annual Report on Form 10-K (this &#8220;Form 10-K&#8221;) contain certain forward-looking statements within the meaning of the federal securities laws. These statements relate to analyses and other information, available as of the date hereof which are based on forecasts of future results and estimates of amounts not yet determinable. These statements also relate to our contemplated future prospects, developments and business strategies.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">These forward-looking statements are identified by their use of terms and phrases such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;plan,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;will&#8221; and similar terms and phrases, including references to assumptions. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that such plans, intentions or expectations will be achieved. Important factors that could cause actual results to differ materially from our forward-looking statements include, but are not limited to:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">the ultimate duration of COVID-19 and its short-term and long-term impacts on consumer behaviors, the economy generally, and our business and results of operations, including the ultimate amount of refunds that we would be required to refund to our pass product holders for qualifying circumstances under our recently launched Epic Coverage program;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">the willingness of our guests to travel due to terrorism, the uncertainty of military conflicts or outbreaks of contagious diseases (such as the current outbreak of COVID-19), and the cost and availability of travel options and changing consumer preferences or willingness to travel;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">unfavorable weather conditions or the impact of natural disasters;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to cyber-attacks;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">the seasonality of our business combined with adverse events that may occur during our peak operating periods; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">competition in our mountain and lodging businesses;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">the high fixed cost structure of our business;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">our ability to fund resort capital expenditures;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">our reliance on government permits or approvals for our use of public land or to make operational and capital improvements;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to federal, state, local and foreign government laws, rules and regulations;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to our workforce, including increased labor costs, loss of key personnel and our ability to hire and retain a sufficient seasonal workforce;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">adverse consequences of current or future legal claims;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">our ability to successfully integrate acquired businesses, or that acquired businesses may fail to perform in accordance with expectations, including Peak Resorts, Hotham, Falls Creek or future acquisitions;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">our ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 with respect to acquired businesses;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks associated with international operations;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars, as compared to the U.S. dollar;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">changes in accounting judgments and estimates, accounting principles, policies or guidelines or adverse determinations by taxing authorities, as well as risks associated with uncertainty of the impact of tax reform legislation in the United States;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">a materially adverse change in our financial condition; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">other risks and uncertainties included under Part I, Item 1A. &#8220;Risk Factors&#8221; in this document.</span></div></td></tr></table><div style="line-height:120%;padding-left:4px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. Given these uncertainties, users of the information included or incorporated by reference in this Form 10-K, including investors and prospective investors, are cautioned not to place undue reliance on such forward-looking statements. Actual results may differ materially from those suggested by the forward-looking statements that we make for a number of reasons including those described above and in Part I, Item&#160;1A. &#8220;Risk Factors&#8221; of this Form 10-K. All forward-looking statements are made only as of the date hereof. Except as may be required by law, we do not intend to update these forward-looking statements, even if new information, future events or other circumstances have made them incorrect or misleading.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s95BDC977B14B515586BB58C18BC40A06"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PART I</span><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div style="line-height:120%;padding-top:24px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div><div><a id="s79EEA9AE6000564DAE36293D14A0EBD8"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 1.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> BUSINESS</span></div></td></tr></table><div style="line-height:120%;padding-top:20px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">General</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc., together with its subsidiaries, is referred to throughout this document as &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221; or the &#8220;Company.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc., a Delaware corporation, was organized as a holding company in 1997 and operates through various subsidiaries. Our operations are grouped into three business segments: Mountain, Lodging and Real Estate, which represented approximately 87%, 13% and 0%, respectively, of our net revenue for our fiscal year ended July 31, 2020 (&#8220;Fiscal 2020&#8221;). </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of July 31, 2020, our Mountain segment operates thirty-seven world-class destination mountain resorts and regional ski areas (collectively, our &#8220;Resorts&#8221;). Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Lodging segment, we own and/or manage a collection of luxury hotels and condominiums under our RockResorts brand; other strategic lodging properties and a large number of condominiums located in proximity to our North American mountain resorts; National Park Service (&#8220;NPS&#8221;) concessionaire properties including the Grand Teton Lodge Company (&#8220;GTLC&#8221;), which operates destination resorts in Grand Teton National Park; a Colorado resort ground transportation company and mountain resort golf courses.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We refer to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. Our Real Estate segment owns, develops and sells real estate in and around our resort communities. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For financial information and other information about the Company&#8217;s segments and geographic areas, see Item 7. &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and Item 8. &#8220;Financial Statements and Supplementary Data.&#8221; </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">COVID-19 Impact</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 14, 2020, we announced a temporary closure of our North American Resorts and retail/rental operations as a result of the COVID-19 pandemic and as a precautionary measure for the safety of our guests and employees beginning on March 15, 2020. Subsequently on March 17, 2020, we announced the early closure of the 2019/2020 North American ski season for our North American Resorts, lodging properties and retail stores. Additionally, the ongoing impacts of the COVID-19 pandemic resulted in restrictions, limitations or closures of our 2020 Australian ski area operations and 2020 North American summer operations. Two of our Australian ski areas, Mount Hotham and Falls Creek, opened for their 2020 winter season on July 6, 2020, but we decided to close them four days later due to a &#8220;stay at home&#8221; order put in place by the Victorian government and specifically for the Melbourne metropolitan area, which represents the majority of visitors for Mount Hotham and Falls Creek, as a result of a reemergence of COVID-19 in the region. These actions and the risks, trends and uncertainties related to COVID-19 are discussed in further detail throughout this document because the COVID-19 pandemic has had a significant adverse impact on our results of operations for Fiscal 2020 and is expected to have a continued negative impact on our results of operations for the year ending July 31, 2021 (&#8220;Fiscal 2021&#8221;).</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Mountain Segment</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Mountain segment, the Company operates the following 37 destination mountain resorts and regional ski areas, including six resorts within the top ten most visited resorts in the United States for the 2019/2020 North American ski season, as well as Whistler Blackcomb, the most visited resort in North America:</span></div><div style="line-height:120%;text-align:justify;"><img src="vrmapfy20.jpg" alt="vrmapfy20.jpg" style="height:450px;width:682px;"></img></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">*Denotes a destination mountain resort, which generally receives a meaningful portion of skier visits from long-distance travelers, as opposed to our regional ski areas, which tend to generate skier visits predominantly from their respective local markets. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Mountain segment derives revenue through the sale of lift tickets, including pass products, as well as a comprehensive offering of amenities available to guests, including ski and snowboard lessons, equipment rentals and retail merchandise sales, a variety of dining venues, private club operations and other winter and summer recreational activities. In addition to providing extensive guest amenities, we also lease some of our owned and leased commercial space to third party operators to add unique restaurants and retail stores to the mix of amenities at the base of our resorts.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Many of our destination mountain resorts are year-round mountain resorts that provide a comprehensive resort experience to a diverse clientele with an attractive demographic profile. We offer a broad complement of winter and summer recreational activities, including skiing, snowboarding, snowshoeing, snowtubing, sightseeing, mountain biking, guided hiking, zip lines, challenge ropes courses, alpine slides, mountain coasters, children&#8217;s activities and other recreational activities. Collectively, our Resorts are located in close proximity to population centers totaling over 100 million people.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Destination Mountain Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The below U.S. visitation data for the 2019/2020 ski season is representative of visitation through mid-March 2020, at which point our Resorts closed early for the season as a result of the COVID-19 pandemic, and therefore the visitation results are not necessarily comparable to a full ski season.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Rocky Mountains (Colorado and Utah Resorts) </span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge Ski Resort (&#8220;Breckenridge&#8221;) - the most visited mountain resort in the United States (&#8220;U.S.&#8221;) for the 2019/2020 ski season with five interconnected peaks offering an expansive variety of terrain for every skill level, including access to above tree line intermediate and expert terrain, and progressive and award-winning terrain parks. </span></div></td></tr></table><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Park City Resort (&#8220;Park City&#8221;) - the second most visited mountain resort in the U.S. for the 2019/2020 ski season and the largest by acreage in the U.S. Park City offers 7,300 acres of skiable terrain for every type of skier and snowboarder and offers guests an outstanding ski experience with fine dining, ski school, retail and lodging.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Mountain Resort (&#8220;Vail Mountain&#8221;) - the third most visited mountain resort in the U.S. for the 2019/2020 ski season. Vail Mountain offers some of the most expansive and varied terrain in North America with approximately 5,300 skiable acres including seven world renowned back bowls and the resort&#8217;s rustic Blue Sky Basin.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Keystone Resort (&#8220;Keystone&#8221;) - the fourth most visited mountain resort in the U.S. for the 2019/2020 ski season and home to the highly renowned A51 Terrain Park, as well as the largest area of night skiing in Colorado. Keystone also offers guests a unique skiing opportunity through guided snow cat ski tours accessing five bowls. Keystone is a premier destination for families with its &#8220;Kidtopia&#8221; program focused on providing activities for kids on and off the mountain. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Beaver Creek Resort (&#8220;Beaver Creek&#8221;) - the ninth most visited mountain resort in the U.S. for the 2019/2020 ski season. Beaver Creek is a European-style resort with multiple villages and also includes a world renowned children&#8217;s ski school program focused on providing a first-class experience with unique amenities such as a dedicated children&#8217;s gondola.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Crested Butte Mountain Resort (&#8220;Crested Butte&#8221;) - acquired in September 2018, Crested Butte is located in southwest Colorado and includes over 1,500 skiable acres and over 3,000 feet of vertical drop. Crested Butte is known for its historic town, iconic mountain peaks and legendary skiing and riding terrain.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Pacific Northwest (British Columbia, Canada)</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Whistler Blackcomb (&#8220;Whistler Blackcomb&#8221;) - located in the Coast Mountains of British Columbia, Canada, approximately 85 miles from the Vancouver International Airport, Whistler Blackcomb is the most visited and largest year-round mountain resort in North America, with two mountains connected by the PEAK 2 PEAK gondola, which combined offer over 200 marked runs, over 8,000 acres of terrain, 14 alpine bowls, three glaciers and one of the longest ski seasons in North America. In the summer Whistler Blackcomb offers a variety of activities, including hiking trails, a bike park and sightseeing. Whistler Blackcomb is a popular destination for international visitors and was home to the 2010 Winter Olympics.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Lake Tahoe Resorts</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Heavenly Mountain Resort (&#8220;Heavenly&#8221;) - the tenth most visited mountain resort in the U.S. for the 2019/2020 ski season. Heavenly is located near the South Shore of Lake Tahoe with over 4,800 skiable acres, straddling the border of California and Nevada and offers unique and spectacular views of Lake Tahoe. Heavenly offers great nightlife, including its proximity to several casinos. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Northstar Resort (&#8220;Northstar&#8221;) - located near the North Shore of Lake Tahoe, Northstar is the premier luxury mountain resort destination near Lake Tahoe which offers premium lodging, a vibrant base area and over 3,000 skiable acres. Northstar&#8217;s village features high-end shops and restaurants, a conference center and a 9,000 square-foot skating rink.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Kirkwood Mountain Resort (&#8220;Kirkwood&#8221;) - located about 35 miles southwest of South Lake Tahoe, offering a unique location atop the Sierra Crest, Kirkwood is recognized for offering some of the best high alpine advanced terrain in&#160;North America with 2,000 feet&#160;of vertical drop and over 2,300 acres of terrain. </span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Regional Ski Areas</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our ski resort network allows us to connect guests with drive-to access and destination resort access on a single season pass product. Building a presence near major metropolitan areas with large populations enables us to drive advanced commitment pass sales among a broad array of guests. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Northeast</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We own and operate eight regional ski areas in the Northeast that we believe provide a compelling regional and local connection to guests within driving distance from the New York, Boston and the greater New England markets. Stowe is the premier, high-end regional ski area in the Northeast offering outstanding skiing and an exceptional base area experience. Okemo and Mount Snow are compelling regional destinations serving guests in the New York metropolitan area and throughout New England. Hunter Mountain is a day-trip ski area primarily serving the New York metropolitan area. Additionally, we own four ski areas in New Hampshire serving guests throughout New England.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Mid-Atlantic (Pennsylvania)</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We own and operate five ski areas in the Mid-Atlantic region serving guests in Philadelphia, Southern New Jersey, Baltimore and Washington D.C. Our presence in the region allows us to offer compelling local options and easy overnight weekend and holiday trips to our premium Northeast regional ski areas, which are within driving distance from these markets. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Midwest</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We own and operate ten ski areas in the Midwest that draw guests from Chicago, Detroit, Minneapolis, St. Louis, Indianapolis, Cleveland, Columbus, Kansas City and Louisville. Located within close proximity to major metropolitan markets, these ski areas provide beginners with easy access to beginner ski programs and offer night skiing for young adults and families. Additionally, the proximity of these ski areas allows for regular usage by avid skiers.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Pacific Northwest (U.S.)</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stevens Pass Resort (&#8220;Stevens Pass&#8217;&#8217;) - acquired in August 2018, Stevens Pass is located less than 85 miles from Seattle and sits on the crest of Washington State&#8217;s Cascade Range. Stevens Pass offers terrain for all levels across 1,125 acres of skiable terrain.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Australia</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Australia is an important market for both domestic skiing during the Australian winter and as a source of international visitation to the Northern Hemisphere in the Australian off-season, with over one million estimated Australian skier visits annually to North America, Europe and Japan. We own three of the five largest ski areas in Australia, which we serve with the Epic Australia Pass, an Australian dollar denominated pass product marketed specifically to Australian guests. Perisher, located in New South Wales, is the largest ski resort in Australia and targets guests in the Sydney metropolitan area and the broader New South Wales market, while Falls Creek and Mount Hotham are two of the largest ski areas in Victoria and target guests in the Melbourne metropolitan area and the broader Victoria market. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Ski Industry/Competition</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There are approximately 770 ski areas in North America with approximately </span><span style="font-family:inherit;font-size:10pt;">475</span><span style="font-family:inherit;font-size:10pt;"> in the U.S., ranging from small ski area operations that service day skiers to large resorts that attract both day skiers and destination resort guests looking for a comprehensive vacation experience. During the 2019/2020 North American ski season, combined skier visits for all ski areas in North America were approximately 68.2 million, which was lower than historical levels due to the COVID-19 pandemic and resulting early resort closures in March across the United States and Canada. During the 2018/2019 North American ski season (the ski season immediately prior to the outbreak of the COVID-19 pandemic), combined skier visits for all ski areas in North America were approximately 79.7 million. Our North American Resorts had approximately 12.4 million skier visits during the 2019/2020 ski season, representing approximately 18.2% of North American skier visits.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There is limited opportunity for development of new destination ski resorts due to the limited private lands on which ski areas can be built, the difficulty in obtaining the appropriate governmental approvals to build on public lands and the significant capital needed to construct the necessary infrastructure. As such, there have been virtually no new destination ski resorts in North America for over 35 years, which has and should continue to allow the best-positioned destination resorts to benefit from future industry growth. Our resorts compete with other major destination mountain resorts, including, among others, Aspen Snowmass, Copper Mountain, Mammoth, Deer Valley, Snowbird, Squaw Valley USA, Killington, Sierra at Tahoe, Steamboat, Jackson Hole and Winter Park, as well as other ski areas in Colorado, California, Nevada, Utah, the Pacific Northwest, the Northeast, Southwest and British Columbia, Canada, and other destination ski areas worldwide as well as non-ski related vacation options and destinations. Additionally, our pass products compete with other multi-resort frequency and pass products in North America, including the IKON Pass, the Mountain Collective Pass and various regional and local pass products.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The ski industry statistics stated in this section have been derived primarily from data published by Colorado Ski Country USA, Canadian Ski Council, Kottke National End of Season Surveys as well as other industry publications.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Our Competitive Strengths</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our premier resorts and business model differentiate our Company from the rest of the ski industry. We own and operate some of the most iconic, branded destination mountain resorts in geographically diverse and important ski destinations in Colorado, Utah, Lake Tahoe and the Pacific Northwest, including British Columbia, Canada. These resorts are complemented by regional ski areas in the Northeast, Pacific Northwest, Midwest and Mid-Atlantic regions, which are strategically positioned near key U.S. population centers, as well as three ski areas in Australia. Through our data-driven marketing analytics and personalized marketing capabilities, we target increased penetration of ski pass products, providing our guests with a strong value proposition in return for guests committing to ski at our resorts prior to, or very early into the ski season, which we believe attracts more guests to our resorts. We </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">believe we invest in more capital improvements than our competitors and we create synergies by operating multiple resorts, which enhances our profitability by enabling customers to access our network of resorts with our pass products. Most of our destination mountain resorts located in the U.S. typically rank in the most visited ski resorts in the U.S. (six of the top ten for the 2019/2020 U.S. ski season), and most of our destination mountain resorts consistently rank in the top ranked ski resorts in North America according to industry surveys, which we attribute to our ability to provide a high-quality experience.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We believe the following factors contribute directly to each Resort&#8217;s success:</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Exceptional Mountain Experience</span></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">World-Class Mountain Resorts and Integrated Base Resort Areas</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain resorts offer a multitude of skiing and snowboarding experiences for the beginner, intermediate, advanced and expert levels. Each mountain resort is fully integrated into expansive resort base areas offering a broad array of lodging, dining, retail, nightlife and other amenities, some of which we own or manage, to our guests.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Snow Conditions</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Resorts in the Rocky Mountain region of Colorado and Utah, the Sierra Nevada Mountains in Lake Tahoe and the Coast Mountains in British Columbia, Canada receive average annual snowfall between 20 and 39 feet. Even in these areas which receive abundant snowfall, we have invested in significant snowmaking systems that help provide a more consistent experience, especially in the early season. During Fiscal 2020, we completed significant investments in our snowmaking systems in Colorado that transformed the early-season terrain experience at Vail, Keystone and Beaver Creek. Our other ski areas receive less snowfall than our western North American mountain resorts, but we have invested in snowmaking operations at these resorts in order to provide a consistent experience for our guests. Additionally, we provide several hundred acres of groomed terrain at each of our mountain resorts with extensive fleets of snow grooming equipment.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift Service </span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We systematically upgrade our lifts and put in new lifts to increase uphill capacity and streamline skier traffic to maximize the guest experience. In the past several years, we have installed or upgraded several high speed chairlifts and gondolas across our mountain resorts, including: </span></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the Daisy and Brooks fixed-grip lifts at Stevens Pass to four-person high-speed lifts; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the Teocalli fixed-grip lift at Crested Butte to a four-person high-speed lift; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">installing a new four-person lift at Park City, Over and Out; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">replacing the Leichardt T-bar lift at Perisher with a new four-person lift; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">installing a new 10-person gondola running from the base to the top of Blackcomb Mountain, replacing the Wizard and Solar four person chairs with a single state-of-the-art gondola; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the four-person Emerald express lift to a high speed six-person lift on Whistler Mountain;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the three-person fixed grip Catskinner lift to a four-person high speed lift at Blackcomb Mountain;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the fixed-grip High Meadow lift to a four-person high speed lift at the Canyons area of Park City;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">replacing the Galaxy two-person lift with a three-person lift at Heavenly, </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">replacing each of the Northwoods lift at Vail Mountain, the Peak 10 Falcon SuperChair at Breckenridge and the Montezuma lift at Keystone with new high speed, six-passenger lifts; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:72px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">upgrading the Drink of Water lift at Beaver Creek with a new high speed, four-person lift.</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 1, 2020 we announced a reduction in our capital plan for calendar year 2020 in order to maintain a strong liquidity position in response to the COVID-19 pandemic. The vast majority of these savings will result from the deferral of many of our discretionary capital projects. We are planning to defer all new chair lifts, terrain expansions and other mountain and base area improvements, while continuing with the vast majority of our maintenance capital spending.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Terrain Parks</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain resorts and urban ski areas are committed to leading the industry in terrain park design, education and events for the growing segment of freestyle skiers and snowboarders. Each of our mountain resorts has multiple terrain parks that include progressively-challenging features. These park structures, coupled with freestyle ski school programs, promote systematic learning from basic to professional skills.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Extraordinary Service and Amenities</span></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commitment to the Guest Experience</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our focus is to provide quality service at every touch point of the guest journey. Prior to arrival at our mountain resorts, guests can receive personal assistance through our full-service, central reservations group and through our comprehensive websites to book desired lodging accommodations, lift tickets and pass products, ski school lessons, equipment rentals, activities and other resort services. Upon arrival, our resort staff serve as ambassadors to engage guests, answer questions and create a customer-focused environment. We offer EpicMix, an online and mobile application that, through radio frequency technology, captures a guest&#8217;s activity on the mountain (e.g. number of ski days, vertical feet skied and chairlift activity); allows a guest to share his or her experience, photos and accomplishments with family and friends on social networks; allows guests to access real time lift line wait times; and allows our ski school instructors to certify the attainment of certain skills and ski levels. We also offer the world&#8217;s first digital mountain assistant (&#8220;EMMA&#8221;), which uses artificial intelligence and natural language processing to offer information on everything from grooming, lift line wait times and parking, in addition to recommendations on rentals, lessons and dining options. We have also invested in lift ticket express fulfillment through new mobile technology by allowing lift ticket purchasers that buy online to bypass the ticket window. Additionally, we are focused on improving the guest ski/snowboard rental experience by eliminating the need for a guest to wait in several lines with the recent introduction of a new &#8220;pod&#8221; concept in several of our high-volume locations. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We also solicit guest feedback through a variety of surveys and results, which are used to ensure high levels of customer satisfaction, understand trends and develop future resort programs and amenities. We then utilize this guest feedback to help us focus our capital spending and operational efforts to the areas of the greatest need.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Season Pass &amp; Epic Day Pass Products</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We offer a variety of pass products, primarily season pass and Epic Day Pass products, for all of our Resorts that are marketed towards both out-of-state and international (&#8220;Destination&#8221;) guests as well as in-state and local (&#8220;Local&#8221;) guests. These pass products are available for purchase prior to the start of the ski season, offering our guests a better value in exchange for their commitment to ski at our Resorts before the season begins. Our pass program drives strong customer loyalty and mitigates exposure to more weather sensitive guests, leading to greater revenue stability and allowing us to capture valuable guest data. Additionally, our pass product customers typically ski more days each season than those guests who do not buy pass products, which leads to additional ancillary spending. Our pass products generated approximately 51% of our total lift revenue for Fiscal 2020, which includes the effects of the early closure of our Resorts as well as the deferral of approximately $121 million of pass product revenue from Fiscal 2020 into Fiscal 2021 as a result of pass credits that we offered to 2019/2020 pass holders who renewed for the 2020/2021 ski season. In addition, our pass products attract new guests to our Resorts. Sales of pass products are a key component of our overall Mountain segment revenue and help create strong synergies among our Resorts. Our pass products range from providing access for a certain number of days to one or a combination of our Resorts to our Epic Pass which provides unrestricted and unlimited access to all of our Resorts. The Epic Day Pass is a customizable one- to seven-day pass product, purchased in advance of the season, for those skiers and riders who expect to ski a certain number of days during the season. All of our various pass product options can be found on our consumer website www.snow.com. Information on our websites does not constitute part of this document.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As part of our continued strategy to drive pass product sales and create a stronger connection between key skier markets and our iconic destination mountain resorts, we have continued to expand our portfolio of properties in recent years. In September 2019, we acquired Peak Resorts, Inc., which added 17 regional ski areas strategically located near key U.S. population centers in the Northeast, Mid-Atlantic and Midwest regions. In April 2019, we acquired Falls Creek and Hotham, located in Victoria, Australia, expanding our portfolio of Australian ski resorts to complement Perisher, which we acquired in June 2015. Australia is an important international ski market, estimated to generate more than one million skier visits annually to resorts in North America, Japan and Europe. Stevens Pass in Washington State, acquired in August 2018, is located 85 miles from Seattle and 250 miles from Whistler Blackcomb, a world-renowned international skiing destination which receives more than two million skier visits each year, which we acquired in October 2016. We have also made strategic acquisitions of mountain resorts located in the Northeast U.S. recently, including Okemo in Vermont (acquired in September 2018), Mount Sunapee in New Hampshire (acquired in September 2018) and Stowe in Vermont (acquired in June 2017). These ski areas are premier, high-end ski destinations for skiers and snowboarders on the East Coast, which draw visitors from New York City, Boston and the broader Northeast skier population. Additionally, we enter into strategic long-term season pass alliance agreements with third-party mountain resorts including Telluride Ski Resort in Colorado, Sun Valley Resort in Idaho, Snowbasin Resort in Utah, Hakuba Valley and Rusutsu Resort in Japan, </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">9</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resorts of the Canadian Rockies in Canada, Les 3 Vall&#233;es in France, 4 Vall&#233;es in Switzerland, Skirama Dolomiti in Italy and Ski Arlberg in Austria, which further increases the value proposition of our pass products.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic, we closed our North American Resorts and retail stores beginning on March 15, 2020. To encourage our pass product holders to renew their pass purchases for next season following the early closures this spring, we announced a credit offer for all existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#8220;Credit Offer&#8221;). The Credit Offer provides discounts ranging from a minimum of 20% to a maximum of 80% for season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. We also announced that we would be implementing a reservation system for our 34 North American Resorts for the 2020/2021 North American ski season, which will only be available for pass holders during the early season (paid lift tickets will not be sold until December 8, 2020).</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For the upcoming 2020/2021 North American ski season, we have introduced Epic Mountain Rewards; a program which gives pass product holders a discount of 20% off on-mountain food and beverage, lodging, group ski and ride school lessons, equipment rentals and more at the Company&#8217;s North American Resorts. Epic Mountain Rewards is available for everyone who purchases an Epic Pass, Epic Local Pass, Epic Day Pass, Epic Military Pass and most of our other pass products, regardless of whether guests plan to ski one day or every day of the season.&#160;Additionally, we introduced Epic Coverage for the 2020/2021 North American ski season, which is free for all pass holders, completely replaces the need for pass insurance, and provides expanded coverage over our historical pass insurance program. Epic Coverage provides refunds in the event of certain resort closures (e.g. for COVID-19), giving pass product holders a refund for any portion of the season that is lost due to qualifying circumstances. Additionally, Epic Coverage provides a refund for personal circumstances that were historically covered by our pass insurance program, such as eligible injuries, job losses and many other personal events, as well as in the event that the pass holder cannot reserve their preferred days.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Premier Ski Schools</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain resorts are home to some of the highest quality and most widely recognized ski and snowboard schools in the industry. Through a combination of outstanding training and abundant work opportunities, our ski schools have become home to many of the most experienced and credentialed professionals in the business. We complement our instructor staff with state-of-the-art facilities and extensive learning terrain, all with a keen attention to guest needs. We offer a wide variety of adult and child group and private lesson options with a goal of creating lifelong skiers and riders and showcasing to our guests all the terrain our resorts have to offer.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Resorts provide a variety of quality on-mountain and base village dining venues, ranging from top-rated fine dining restaurants to trailside express food service outlets. We normally operate approximately 310 dining venues at our Resorts, although there will be some restrictions or limitations for the upcoming 2020/2021 North American ski season as a result of the impacts of COVID-19 and to ensure the safety of our guests and employees. Food options in quick-service restaurants will be more limited this season, with just a handful of ready-to-go hot and cold options and no ability for any custom or special orders. We will be spacing tables in seating areas as well to allow for physical distancing while eating, and we will also be maintaining as much outdoor seating as we can.&#160;</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/Rental</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have approximately 330 retail/rental locations specializing in sporting goods including ski, snowboard and cycling equipment. In addition to providing a major retail/rental presence at each of our Resorts, we also have retail/rental locations throughout the Colorado Front Range, the San Francisco Bay Area, Salt Lake City and Minneapolis. Many of our retail/rental locations near key population centers also offer prime venues for selling our pass products. </span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On-Mountain Activities</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are a ski industry leader in providing comprehensive destination vacation experiences, including on-mountain activities designed to appeal to a broad range of interests. In addition to our exceptional ski experiences, guests can choose from a variety of non-ski related activities such as snowtubing, snowshoeing, guided snowmobile and scenic snow cat tours, backcountry expeditions, horse-drawn sleigh rides and high altitude dining. During a normal summer season, our mountain resorts offer non-ski related recreational activities and provide guests with a wide array of options including scenic chairlift and gondola rides; mountain biking; horseback riding; guided hiking; 4x4 Jeep tours; and our Epic Discovery program at Vail Mountain, Heavenly and Breckenridge, although some of these activities were restricted or limited for the most recent summer season as a result of the impacts of COVID-19 and to ensure the safety of our guests and employees. The Epic Discovery program encourages &#8220;learn through play&#8221; by featuring extensive environmental educational elements interspersed between numerous activities, consisting of zip lines, children&#8217;s activities, challenge ropes courses, tubing, mountain excursions, an alpine slide and alpine coasters.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging and Real Estate</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">High quality lodging options are an integral part of providing a complete resort experience. Our owned and managed hotels and resorts proximate to our mountain resorts, including six RockResorts branded properties and a significant inventory of managed condominium units, provide numerous accommodation options for our mountain resort guests. Our recent real estate efforts have primarily focused on the potential to expand our destination bed base and upgrade our resorts through the sale of land parcels to third-party developers, which in turn provides opportunity for the development of condominiums, luxury hotels, parking and commercial space for restaurants and retail shops. Our Lodging and Real Estate segments have and continue to invest in resort related assets and amenities or seek opportunities to expand and enhance the overall resort experience.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lodging Segment</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Lodging segment includes owned and managed lodging properties, including those under our luxury hotel management company, RockResorts; managed condominium units which are in and around our mountain resorts in Colorado, Lake Tahoe, Utah, Vermont, New York and British Columbia, Canada; two NPS concessionaire properties in and near Grand Teton National Park in Wyoming; a resort ground transportation company in Colorado; and company-owned and operated mountain resort golf courses, including five in Colorado; one in Wyoming; three in Vermont; one in Lake Tahoe, California; one in Park City, Utah; and two in Pennsylvania. For additional property details, see Item 2. &#8220;Properties&#8221;.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Lodging segment currently includes approximately 6,000 owned and managed hotel rooms and condominium units. Our lodging strategy seeks to complement and enhance our mountain resort operations through our ownership or management of lodging properties and condominiums proximate to our mountain resorts and selective management of luxury resorts in premier destination locations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to our portfolio of owned and managed luxury resort hotels and other hotels and properties, our lodging business also features a Colorado ground transportation company, which represents the first point of contact with many of our guests when they arrive by air to Colorado. We offer year-round ground transportation from Denver International Airport and Eagle County Airport to the Vail Valley (locations in and around Vail, Beaver Creek, Avon and Edwards), Aspen (locations in and around Aspen and Snowmass) and Summit County (which includes Keystone, Breckenridge, Copper Mountain, Frisco and Silverthorne). </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Lodging Industry/Market</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Hotels are categorized by Smith Travel Research, a leading lodging industry research firm, as luxury, upper upscale, upscale, mid-price and economy. The service quality and level of accommodations of our RockResorts&#8217; hotels place them in the luxury segment, which represents hotels achieving the highest average daily rates (&#8220;ADR&#8221;) in the industry, and includes such brands as the Four Seasons, Ritz-Carlton and Starwood&#8217;s Luxury Collection hotels. Our other hotels are categorized in the upper upscale and upscale segments of the hotel market. The luxury and upper upscale segments consist of approximately 615,000 rooms at approximately 2,000 properties in the U.S. as of July 2020. For Fiscal 2020, our owned hotels, which include a combination of certain RockResort hotels as well as other hotels in proximity to our Resorts, had an overall ADR of $266.43, a paid occupancy rate of 45.9% and revenue per available room (&#8220;RevPAR&#8221;) of $122.34, as compared to the upper upscale segment&#8217;s ADR of $182.00, a paid occupancy rate of 53.5% and RevPAR of $97.30. We believe that this comparison to the upper upscale segment is appropriate as our mix of owned hotels include those in the luxury and upper upscale segments, as well as certain of our hotels that fall in the upscale segment. The highly seasonal nature of our lodging properties generally results in lower average occupancy as compared to the upper upscale segment of the lodging industry as a whole.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">11</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Competition</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Competition in the hotel industry is generally based on quality and consistency of rooms, restaurants, meeting facilities and services, the attractiveness of locations, availability of a global distribution system and price. Our properties compete within their geographic markets with hotels and resorts that include locally-owned independent hotels, as well as facilities owned or managed by national and international chains, including such brands as Four Seasons, Hilton, Hyatt, Marriott, Ritz-Carlton, Starwood&#8217;s Luxury Collection and Westin. Our properties also compete for convention and conference business across the national market. We believe we are highly competitive in the resort hotel niche for the following reasons:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">all of our hotels are located in unique, highly desirable resort destinations;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">our hotel portfolio has achieved some of the most prestigious hotel designations in the world, including two properties in our portfolio that are currently rated as AAA 4-Diamond; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">many of our hotels (both owned and managed) are designed to provide a look that feels indigenous to their surroundings, enhancing the guest&#8217;s vacation experience;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">each of our RockResorts hotels provides the same high level of quality and services, while still providing unique characteristics which distinguish the resorts from one another. This appeals to travelers looking for consistency in quality and service offerings together with an experience more unique than typically offered by larger luxury hotel chains;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">many of the hotels in our portfolio provide a wide array of amenities available to the guest such as access to world-class ski and golf resorts, spa and fitness facilities, water sports and a number of other outdoor activities, as well as highly acclaimed dining options;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">conference space with the latest technology is available at most of our hotels. In addition, guests at Keystone can use our company-owned Keystone Conference Center, the largest conference facility in the Colorado Rocky Mountain region with more than 100,000 square feet of meeting, exhibit and function space;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">we have a central reservations system that leverages off of our mountain resort reservations system and has an online planning and booking platform, offering our guests a seamless and useful way to make reservations at our resorts; and </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">we actively upgrade the quality of the accommodations and amenities available at our hotels through capital improvements. Capital funding for third-party owned properties is provided by the owners of those properties to maintain standards required by our management contracts. Projects at our owned properties completed over the past several years include extensive refurbishments and upgrades to the Grand Summit Hotel, Colter Bay Village Cabins, and DoubleTree by Hilton Breckenridge. Additionally, we have completed guest room renovations at the Keystone Lodge and The Pines Lodge.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">National Park Concessionaire Properties</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We own GTLC, which is based in the Jackson Hole area in Wyoming and operates within Grand Teton National Park under a 15-year concessionaire agreement with the NPS that expires December 31, 2021. We also own Flagg Ranch, located in Moran, Wyoming and centrally&#160;located between Yellowstone National Park and&#160;Grand Teton National Park&#160;on the John D. Rockefeller, Jr. Memorial Parkway (the &#8220;Parkway&#8221;). Flagg Ranch operates under a 15-year concessionaire agreement with the NPS that expires October 31, 2026. GTLC also owns Jackson Hole Golf &amp; Tennis Club (&#8220;JHG&amp;TC&#8221;), located outside Grand Teton National Park near Jackson, Wyoming. GTLC&#8217;s operations within Grand Teton National Park and JHG&amp;TC have operating seasons that generally run from June through the end of September. As a result of the COVID-19 pandemic and in response to guidance from the NPS, the Centers for Disease Control and Prevention and other local and national health authorities, operations for the 2020 season were limited or adjusted. This included closures of Jackson Lake Lodge and Jenny Lake lodge for the season, as well as the temporary closure of many facilities and restrictions on guided activities, in-restaurant dining and stayover housekeeping service for cabins.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We primarily compete with such companies as Aramark Parks &amp; Resorts, Delaware North Companies Parks &amp; Resorts, Forever Resorts and Xanterra Parks &amp; Resorts in retaining and obtaining NPS concessionaire agreements. Four full-service concessionaires provide accommodations within Grand Teton National Park, including GTLC. In a normal operating season, GTLC offers three lodging options within Grand Teton National Park: Jackson Lake Lodge, a full-service, 385-room resort with 17,000 square feet of conference facilities; Jenny Lake Lodge, a small, rustically elegant retreat with 37 cabins; and Colter Bay Village, a facility with 166 log cabins, 66 tent cabins, 337 campsites and a 112-space recreational vehicle park. GTLC offers dining options as extensive as its lodging options, with cafeterias, casual eateries and fine dining establishments. GTLC&#8217;s resorts provide a wide range of activities for guests to enjoy, including cruises on Jackson Lake, boat rentals, horseback riding, guided fishing, float trips, golf and guided Grand Teton National Park tours. As a result of the extensive amenities offered, as well as the tremendous popularity of the National Park System, GTLC&#8217;s accommodations within Grand Teton National Park operate near full capacity during their operating season. </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Real Estate Segment</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have extensive holdings of real property at our mountain resorts primarily throughout Summit and Eagle Counties in Colorado. Our real estate operations, through Vail Resorts Development Company (&#8220;VRDC&#8221;), a wholly-owned subsidiary, include planning, oversight, infrastructure improvement, development, marketing and sale of our real property holdings. In addition to the cash flow generated from real estate development sales, these development activities benefit our Mountain and Lodging segments by (1) creating additional resort lodging and other resort related facilities and venues (primarily restaurants, spas, commercial space, private mountain clubs, skier services facilities and parking structures) that provide us with the opportunity to create new sources of recurring revenue, enhance the guest experience and expand our destination bed base; (2) controlling the architectural themes of our resorts; and (3) expanding our property management and commercial leasing operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The principal activities of our Real Estate segment include the sale of land parcels to third-party developers and planning for future real estate development projects, including zoning and acquisition of applicable permits. We continue undertaking preliminary planning and design work on future projects and are pursuing opportunities with third-party developers rather than undertaking our own significant vertical development projects. We believe that, due to the low carrying cost of our real estate land investments, we are well situated to promote future projects with third-party developers while limiting our financial risk. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Marketing and Sales</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Mountain segment&#8217;s marketing and sales efforts are focused on leveraging marketing analytics to drive targeted and personalized marketing to our existing and prospective guests. We capture guest data on the vast majority of guest transactions through sales of our pass products, our e-commerce platforms including mobile lift ticket sales, the EpicMix application and our lift ticket windows. We promote our Resorts using guest-centric omni-channel marketing campaigns leveraging email, direct mail, promotional programs, digital marketing (including social, search and display) and traditional media advertising where appropriate (e.g. targeted print, TV and radio). We also have marketing programs directed at attracting groups, corporate meetings and convention business. Most of our marketing efforts drive traffic to our websites, where we provide our guests with information regarding each of our Resorts, including services and amenities, reservations information, virtual tours and the opportunity to book/purchase our full suite of products (e.g. lift access, lodging, ski and ride school, rentals, etc.) for their visits.&#160;We also enter into strategic alliances with companies to enhance the guest experience at our Resorts, as well as to create opportunities for cross-marketing.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For our Lodging segment, we promote our hotels and lodging properties through marketing and sales programs, which include marketing directly to many of our guests through our digital channels (search, social and display), promotional programs, and print media advertising, all of which are designed to drive traffic to our websites and central reservations call center. We also promote comprehensive vacation experiences through various package offerings and promotions (combining lodging, lift tickets, ski school lessons, ski rental equipment, transportation and dining). In addition, our hotels have active sales forces to generate conference and group business. We market our resort properties in conjunction with our mountain resort marketing efforts where appropriate, given the strong synergies across the two businesses.&#160;</span></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Across both the Mountain and Lodging segments, sales made through our websites and call center allow us to transact directly with our guests, which further expands our customer base and enables analytics to deliver an increasingly guest-centric marketing experience. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Seasonality</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski resort operations are highly seasonal in nature, with a typical ski season in North America generally beginning in mid-November and running through mid-April. In an effort to partially mitigate the concentration of our revenue in the winter months in North America, we offer several non-ski related activities in the summer months such as sightseeing, mountain biking, guided hiking, 4x4 Jeep tours, golf (included in the operations of the Lodging segment) and our Epic Discovery program. These activities also help attract destination conference and group business to our Resorts in our off-season. In addition, the operating results of our Australian Resorts, for which the ski season generally occurs from June through early October, partially counterbalances the concentration of our revenues during this seasonally lower period in North America. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our lodging business is also highly seasonal in nature, with peak seasons primarily in the winter months (with the exception of GTLC, Flagg Ranch, certain managed properties and mountain resort golf operations). We actively promote our extensive conference facilities and have added more off-season activities to help offset the seasonality of our lodging business. Additionally, we operate several golf courses proximate to our Resorts, as described above.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Sustainability and Social Responsibility</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Sustainability is a core philosophy for us. Our Resorts operate in some of the world&#8217;s greatest natural environments, and we are compelled to care for and conserve them. Through our corporate social responsibility and sustainability program, Epic Promise, we focus on resource conservation, forest health and building stronger local communities through contributions to local non-profit organizations. Our sustainability efforts are diverse and touch nearly every area of our operations. In 2017, we launched our Commitment to Zero, a pledge to have a zero net operating footprint by 2030. This commitment includes achieving zero net emissions by finding operational energy efficiencies, investing in renewable energy and investing in offsets and other emissions reduction projects, zero waste to landfills by diverting 100% of waste from our operations and zero net operating impact to forests and habitat by restoring an acre of forest for every acre displaced by our operations. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of this commitment, Vail Resorts was accepted as the first travel and tourism company into </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">RE100</span><span style="font-family:inherit;font-size:10pt;">, a collaborative initiative uniting more than 100 global and influential businesses which are committed to 100% renewable electricity. During Fiscal 2020, we made significant progress toward our Commitment to Zero goals. Specifically, we reached our interim goal of achieving 50% waste diversion across the enterprise through waste reduction efforts as well as developing robust composting and recycling diversion programs. We also enabled the new 82-turbine Plum Creek Wind project to come online and committed to purchase 310,000 megawatt hours (MWh) of wind energy annually. This amount of wind power will address more than 90% of the Company&#8217;s current electricity use across its 34 North American destination mountain resorts and regional ski areas.&#160;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, during Fiscal 2020, we sponsored the reforestation of 39 acres in the Gunnison National Forest in Colorado that had been damaged by bark beetle, which effort addressed 100% of the forests impacted by our operations over the year. Through direct Epic Promise grants and contributions from our $1 guest donation program, we partner with several local environmental organizations to fund restoration projects, including the National Forest Foundation, The Tahoe Fund, Grand Teton National Park Foundation, Mountain Trails Foundation in Park City&#160;and the EnviroFund at Whistler Blackcomb. We encourage our employees to help protect the environment and support their local community, with over 20,000 volunteer hours donated annually on average. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Epic Promise community investment grant program focuses support on local programs addressing marginalized youth and critical community needs.&#160;During Fiscal 2020, we hosted more than 5,000 youth across our resorts through multi-day programs focused on mentorship, leadership and the impact of outdoor time on mental health. Finally, our EpicPromise Employee Foundation (the &#8220;Foundation&#8221;), which was established in 2015, is a charitable foundation funded by annual contributions from the Company, its employees and its guests. The Foundation supports Vail Resorts&#8217; employees and their families via grants for emergency relief and scholarships.&#160;Annually more than $1 million in grants and scholarships are provided to help employees in times of need or to pursue educational opportunities. For more information on both the Foundation and our environmental stewardship, visit www.EpicPromise.com. Information on our websites does not constitute part of this document.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Employees</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">At fiscal year end, we employed approximately 7,100 year-round employees, including furloughed employees. During the height of our most recent operating seasons (prior to the outbreak of the COVID-19 pandemic for our North American winter operations), we employed approximately 36,100 additional seasonal employees. In addition, we employed approximately 200 year-round employees and 100 seasonal employees on behalf of the owners of our managed hotel properties. We consider our employee relations to be good. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Intellectual Property</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The development of intellectual property is part of our overall business strategy, and we regard our intellectual property as an important element of our success. Accordingly, we protect our intellectual property rights and seek to protect against its unauthorized use through international, national and state laws and common law rights. We file applications for and obtain trademark registrations and have filed for patents to protect inventions and will continue to do so where appropriate. We also seek to maintain our trade secrets and confidential information by nondisclosure policies and through the use of appropriate confidentiality agreements and contractual provisions.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the highly competitive industry in which we operate, trademarks, service marks, trade names and logos are very important in the sales and marketing of our mountain resorts and urban ski areas, lodging properties and services. We seek to register and protect our trademarks, service marks, trade names and logos and have obtained a significant number of registrations for those trademarks. We believe our brands have become synonymous in the travel and leisure industry with a reputation for excellence in service and authentic hospitality. Among other national and international trademark registrations, the Company owns U.S. federal registrations for </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Epic</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Epic Pass</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Vail Resorts</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Vail</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Beaver Creek</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Breckenridge</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Keystone</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174; </sup></span><span style="font-family:inherit;font-size:10pt;">and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Heavenly</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;">.&#160;The Company also owns Canadian and U.S. trademark registrations for the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Whistler Blackcomb</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174; </sup></span><span style="font-family:inherit;font-size:10pt;">name and logo. The Company licenses the right to use the federally registered trademark </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Northstar California</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></span><span style="font-family:inherit;font-size:10pt;"> from CLP Northstar, LLC. </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s13C4A551F4585685B8E0C94F3FD4F491"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Environmental Compliance and other Laws and Regulations</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our operations are subject to federal, state and local laws and regulations governing the environment including laws and regulations governing water and sewer discharges, water use, air emissions, soil and groundwater contamination, the maintenance of underground and aboveground storage tanks, and the disposal of waste and hazardous materials. Examples of such laws and regulations in the U.S. include the National Environmental Policy Act (NEPA), the California Environmental Quality Act, and the Vermont Land Use and Development Act. Internationally, we are subject to the Forest and Range Practices Act and Watershed Sustainability Act in British Columbia as well as the Environmental Planning and Assessment Act 1979 (NSW, Australia) and the Environment Protection Act 1970 and the Environment Protection and Biodiversity Conservation Act 1999 (Victoria, Australia).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Various federal, state, local and provincial regulations also govern our resort operations, including liquor licensing and food safety regulations applicable to our food and beverage operations and safety standards relating to our lift operations and heli-ski operations at Whistler Blackcomb. In addition, each resort is subject to and must comply with state, county, regional and local government land use regulations and restrictions, including, for example, employee housing ordinances, zoning and density restrictions, noise ordinances, and wildlife, water and air quality regulations. We believe that we are in compliance, in all material respects, with environmental and other laws and regulations. Compliance with such provisions has not materially impacted our capital expenditures, earnings, or competitive position, and we do not anticipate that it will have a material impact in the future.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Contracts with Governmental Authorities for Resort Operations</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">U.S. Forest Service Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The operations of Breckenridge, Vail Mountain, Keystone, Crested Butte, Stevens Pass, Heavenly, Kirkwood, Mount Snow, Attitash and portions of Beaver Creek and Wildcat are conducted on land under the jurisdiction of the U.S. Forest Service (collectively, the &#8220;Forest Service Resorts&#8221;). The 1986 Ski Area Permit Act (the &#8220;1986 Act&#8221;) allows the Forest Service to grant Term Special Use Permits (each, a &#8220;SUP&#8221;) for the operation of ski areas and construction of related facilities on National Forest lands. In November 2011, the 1986 Act was amended by the Ski Area Recreational Opportunity Enhancement Act (the &#8220;Enhancement Act&#8221;) to clarify the Forest Service&#8217;s authority to approve facilities primarily for year-round recreation. Under the 1986 Act, the Forest Service has the authority to review and approve the location, design and construction of improvements in the permit area and many operational matters.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Each individual national forest is required by the National Forest Management Act to develop and maintain a Land and Resource Management Plan (a &#8220;Forest Plan&#8221;), which establishes standards and guidelines for the Forest Service to follow and consider in reviewing and approving our proposed actions.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Each of the Forest Service Resorts operates under a SUP, and the acreage and expiration date information for each SUP is as follows:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:48.6328125%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:40%;"></td><td style="width:20%;"></td><td style="width:40%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Forest Service Resort </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acres</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Expiration Date</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,702</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2029</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12,353</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 1, 2031</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Keystone</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8,376</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2032</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Beaver Creek</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,849</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">November 8, 2039</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Heavenly</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7,050</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">May 1, 2042</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mount Snow</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">894</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April 4, 2047</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Attitash</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">279</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April 4, 2047</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Wildcat</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">953</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">November 18, 2050</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Kirkwood</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,330</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">March 1, 2052</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stevens Pass</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,443</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">August 15, 2058</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Crested Butte</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,350</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">September 27, 2058</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We anticipate requesting a new SUP for each Forest Service Resort prior to its expiration date as provided by Forest Service regulations and the terms of each existing SUP. We are not aware of the Forest Service refusing to issue a new SUP to replace an expiring SUP for a ski resort in operation at the time of expiration. The Forest Service can also terminate a SUP if it determines that termination is required in the public interest. However, to our knowledge, no SUP has ever been terminated by the Forest Service over the opposition of the permit holder.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">15</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Each SUP contains a number of requirements, including indemnifying the Forest Service from third-party claims arising out of our operation under the SUP and compliance with applicable laws, such as those relating to water quality and endangered or threatened species. For use of the land authorized by the SUPs, we pay a fee to the Forest Service ranging from 1.5% to 4.0% of adjusted gross revenue for activities authorized by the SUPs. Included in the calculation are sales from, among other things, lift tickets, season passes, ski school lessons, food and beverage, certain summer activities, equipment rentals and retail merchandise.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The SUPs may be revised or amended to accommodate changes initiated by us or by the Forest Service to change the permit area or permitted uses. The Forest Service may amend a SUP if it determines that such amendment is in the public interest. While the Forest Service is required to seek the permit holder&#8217;s consent to any amendment, an amendment can be finalized over a permit holder&#8217;s objection. Permit amendments must be consistent with the Forest Plan and are subject to the provisions of the National Environmental Policy Act (&#8220;NEPA&#8221;), both of which are discussed below.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The 1986 Act requires a Master Development Plan (&#8220;MDP&#8221;) for each ski area that is granted a SUP, and all improvements that we propose to make on National Forest System lands under any of our SUPs must be included in a MDP, which describes the existing and proposed facilities, developments and area of activity within the permit area. The MDPs are reviewed by the Forest Service for compliance with the Forest Plan and other applicable laws and, if found to be compliant, are accepted by the Forest Service. Notwithstanding acceptance by the Forest Service of the conceptual MDPs, individual projects still require separate applications and compliance with NEPA and other applicable laws before the Forest Service will approve such projects. We update or amend our MDPs for our Forest Service Resorts from time to time. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Whistler Blackcomb</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Whistler Blackcomb is comprised of two mountains: Whistler Mountain and Blackcomb Mountain. Whistler Mountain and Blackcomb Mountain are located on Crown Land within the traditional territory of the Squamish and Lil&#8217;wat Nations. The relationship between Whistler Blackcomb and Her Majesty, the Queen in Right of British Columbia (the &#8220;Province&#8221;) is largely governed by Master Development Agreements (the &#8220;MDAs&#8221;) between the Province and Whistler Mountain Resort Limited Partnership (&#8220;Whistler LP&#8221;) with respect to Whistler Mountain, and between the Province and Blackcomb Skiing Enterprises Limited Partnership (&#8220;Blackcomb LP&#8221;) with respect to Blackcomb Mountain. Together, Whistler LP and Blackcomb LP are referred to as the &#8220;Partnerships.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The MDAs, which were entered into in February 2017, have a term of 60 years (expiring on February 23, 2077) and are replaceable for an additional 60 years by option exercisable by the Partnerships after the first 30 years of the initial term. In accordance with the MDAs, the Partnerships are obligated to pay annual fees to the Province at a percentage of gross revenues related to the operation of certain activities at Whistler Blackcomb.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The MDAs require that each of the mountains be developed, operated and maintained in accordance with its respective master plan, which contains requirements as to matters such as trail design and development, passenger lift development and environmental concerns. The MDAs grant a general license to use the Whistler Mountain lands and the Blackcomb Mountain lands for the operation and development of Whistler Blackcomb. The MDAs also provide for the granting of specific tenures of land owned by the Province to the Whistler LP or the Blackcomb LP, as applicable, by way of rights-of-way, leases or licenses. Each Partnership is permitted to develop new improvements to Whistler Mountain or Blackcomb Mountain, as the case may be, within standard municipal type development control conditions. We are obligated to indemnify the Province from third-party claims arising out of our operations under the MDAs.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">16</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Northeast Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stowe and Okemo operate partially on land that we own and partially on land we lease from the State of Vermont. With respect to Stowe, the land we own is on the Spruce Peak side of the resort while the land we lease from the State of Vermont is located on Mt. Mansfield in the Mt. Mansfield State Forest. The initial ten year term of the lease commenced in June 1967, and the lease provides for eight separate ten year extension options. The current term of the lease extends through June 2027, and there are three remaining ten year extension options. With respect to Okemo, we own the Jackson Gore base area land and lease most of the skiable terrain from the State of Vermont. The initial ten year term of the lease commenced in December 1963, and the lease provides for eight separate ten year extension options. The current term of the lease extends through December 2023, and there are three remaining ten year extension options. Under both leases, the land can be used for the development and operation of a ski area including ski trails, ski lifts, warming shelters, restaurants and maintenance facilities. For use of the land under the leases, we pay a fee to the State of Vermont based on revenue for activities authorized by the lease, such as lift tickets, season passes, food and beverage, summer activities and retail merchandise. We are obligated to indemnify the State of Vermont from third-party claims arising out of our operations under the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mount Sunapee lies within the Mount Sunapee State Park and operates on land that we lease from the State of New Hampshire. The initial twenty year term of the lease commenced in July 1998, and the lease provides for three separate ten year extension options. The current term of the lease extends through June 2028, and there are two remaining ten year extension options. The land can be managed and operated as a ski area and summer recreational facility, including all of its support activities, to provide year-round outdoor recreation. For use of the land under the lease, we pay a fee to the State of New Hampshire that includes both a base fee and a fee based on revenue from activities authorized by the lease, such as lift tickets, season passes, food and beverage, summer activities and retail merchandise. We are obligated to indemnify the State of New Hampshire from third-party claims arising out of our operations under the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Australian Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Perisher is located in the Kosciuszko National Park, the largest national park in New South Wales, Australia. The resort includes four villages (Perisher Valley, Smiggin Holes, Guthega and Blue Cow) and their associated ski fields, as well as the site of the Skitube Alpine Railway at Bullock&#8217;s Flat, which is accredited in accordance with the Rail Safety National Law (NSW) No. 82a. The Office of Environment and Heritage (&#8220;OEH&#8221;), an agency of the New South Wales government, which is part of the Department of Planning and Environment, is responsible for the protection and conservation of the Kosciuszko National Park. The National Parks and Wildlife Act 1974 (NSW) (&#8220;NPW Act&#8221;) establishes the National Parks and Wildlife Service and is responsible for the control and management of the Kosciusko National Park.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The NPW Act requires the Kosciuszko National Park to be managed in accordance with the principles specified in that legislation, including the provision for sustainable visitor or tourist use and enjoyment that is compatible with the conservation of the national park&#8217;s natural and cultural values. The legislation also authorizes the Minister for the Environment and the Minister for Heritage (the &#8220;Minister&#8221;) to grant leases and licenses of land within the Kosciuszko National Park for various purposes, including for purposes related to sustainable visitor or tourist use and enjoyment. Under this power, the Minister has granted to Perisher a lease and a license of specified land within the Kosciusko National Park until June 30, 2048, with an option to renew for an additional period of 20 years. The Minister has also granted Perisher a lease of the parking lot at Perisher Valley that expires on December 31, 2025. Subject to certain conditions being met, the lease for the Perisher Valley parking lot can be extended until June 30, 2048, with an option to renew for a further 20 years. The lease and license provide for the payment of a minimum annual base rent with periodic increases in base rent over the term, turnover rent payments based on a percentage of certain gross revenue, remittance of park user fees and certain other charges, also subject to periodic increases over the term.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Falls Creek and Hotham are located in the Alpine National Park in Victoria, Australia. Falls Creek and Hotham both operate on Crown land permanently reserved under the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Crown Land (Reserves) Act 1978 </span><span style="font-family:inherit;font-size:10pt;">(Vic), with the exception of three small parcels of freehold land within the Hotham resort area.&#160;Each resort is subject to the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Alpine Resorts (Management) Act 1997 </span><span style="font-family:inherit;font-size:10pt;">(Vic) (the &#8220;ARM Act&#8221;), which is in place to manage the development, promotion, management and use of the resorts on a sustainable basis and in a manner that is compatible with the alpine environment. The ARM Act established the Alpine Resorts Commission to plan for the direction and sustainable growth of Victoria&#8217;s five alpine resorts (including Falls Creek and Hotham). This includes review and coordination of the implementation of an Alpine Resorts Strategic Plan to which Falls Creek and Hotham are subject.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The ARM Act also established each of the Falls Creek Resort Management Board and Hotham Resort Management Board (the &#8220;RMBs&#8221;), each of which is appointed by, and responsible to, the Minister for Energy, Environment and Climate Change (the &#8220;Minister&#8221;).&#160; The RMBs are responsible for the management and collection of fees for entrance into the Alpine National Park and from Falls Creek and Hotham ski resorts.&#160;The ARM Act authorizes the RMBs to grant leases subject to Ministerial approval, and under this power, the entities operating the Hotham and Falls Creek resorts have each been leased land within the Alpine National Park under various long-term leases with differing expiration dates. The main lease for the ski field at Falls Creek expires December </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">17</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31, 2040, while the main lease for the ski field at Hotham expires December 31, 2057. The key ski field leases provide for the payment of rent with both a fixed and variable component, a community service charge payable to the ARCC and a ski patrol contribution payable to RMBs. At Hotham, we also lease land known as &#8216;Dinner Plain&#8217; within the Alpine National Park which expires on June 30, 2031, with an option to extend for a further 10 years.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Alpine Resorts (Management) Regulations 2009</span><span style="font-family:inherit;font-size:10pt;"> (Vic) gives the RMBs the power to declare the snow season, temporarily close the resort to entry if there is a significant danger to public safety, determine parts of a resort to which entry is prohibited, set aside areas of the resort for public use, parking, driving of vehicles, or landing of aircraft, and determine the areas for cross country ski trails, skiing, snowboarding and other snow play activities. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Concessionaire Agreements</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">GTLC operates three lodging properties, food and beverage services, retail, camping and other services within the Grand Teton National Park under a concessionaire agreement with the NPS. Our concessionaire agreement with the NPS for GTLC expires on December 31, 2021, and we pay a fee to the NPS of a percentage of the majority of our sales occurring in Grand Teton National Park.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Flagg Ranch Company, a wholly-owned subsidiary, provides lodging, food and beverage services, retail, service station, recreation and other services on the Parkway located between Grand Teton National Park and Yellowstone National Park. Our concession contract with the NPS for the Parkway expires on October 31, 2026, and we pay a fee to the NPS of a percentage of the majority of our sales occurring in the Parkway. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Prior to expiration of these concession contracts, we will have the opportunity to bid against other prospective concessionaires for award of a new contract. The NPS may suspend operations under the concession contract at any time if the NPS determines it is necessary to protect visitors or resources within the Grand Teton National Park or during a Federal Government shutdown. The NPS may also terminate the concession contract for breach, following notice and a 15 day cure period or if it believes termination is necessary to protect visitors or resources within the Grand Teton National Park.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Available Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We file with or furnish to the Securities and Exchange Commission (&#8220;SEC&#8221;) reports, including our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). These reports, proxy statements and other information are available free of charge on our corporate website </span><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">www.vailresorts.com</span><span style="font-family:inherit;font-size:10pt;"> as soon as reasonably practicable after they are electronically filed with or furnished to the SEC. Information on our websites does not constitute part of this document. Materials filed with or furnished to the SEC are also made available on its website at&#160;</span><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">www.sec.gov</span><span style="font-family:inherit;font-size:10pt;">. Copies of any materials we file with the SEC can be obtained at&#160;</span><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">www.sec.gov</span><span style="font-family:inherit;font-size:10pt;">&#160;or at the SEC&#8217;s public reference room at 100 F Street, N.E., Washington, D.C. 20549. Information on the operation of the public reference room is available by calling the SEC at 1-800-SEC-0330.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s047BFB1C19995EF584E9F0E68F81C7D1"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 1A.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">RISK FACTORS.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our operations and financial results are subject to various risks and uncertainties that could adversely affect our financial position, results of operations and cash flows. The risks described below should carefully be considered together with the other information contained in this report.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Risks Related to Our Business</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;font-weight:bold;">The current outbreak of the novel coronavirus, or COVID-19, has had, and is expected to continue to have, a significant negative impact on our financial condition and operations. Further, the spread of the COVID-19 outbreak has caused severe disruptions in the U.S. and global economy and financial markets and could potentially create widespread business continuity issues of an as yet unknown magnitude and duration. Any future outbreak of any other highly infectious or contagious disease could have a similar impact.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">Governmental authorities nationally and in affected regions have taken and continue to take dramatic actions by mandating various restrictions in an effort to slow the spread of the novel coronavirus (COVID-19), including travel restrictions, restrictions on public gatherings, &#8220;shelter at home&#8217;&#8217; orders and advisories and quarantining of people who may have been exposed to the virus. The outbreak of COVID-19 has severely impacted global economic activity and caused significant volatility and negative pressure in financial markets. Many experts predict that the outbreak will trigger a period of material global economic slowdown or a global recession, with particular risk to the travel and leisure industry, which is disproportionately impacted by travel restrictions and other public health restrictions.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">18</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">In response to the continued challenges associated with the spread of COVID-19, we closed all of our North American mountain resorts, retail/rental stores and lodging properties early for the 2019/2020 North American ski season in March 2020. Additionally, although our Hotham and Falls Creek resorts opened for their winter season on July 6, 2020, we closed such resorts four days later due to a &#8220;stay at home&#8221; order put in place by the Victorian government as a result of a reemergence of COVID-19 in the region. The outbreak of COVID-19 has disrupted our business and has had and is expected to continue to have a significant negative impact on our business, financial performance and condition, operating results, liquidity and cash flows. Factors that would negatively impact our ability to successfully operate during the current outbreak of COVID-19 or another pandemic include:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">our ability to open our North American Resorts for their winter season in a timely manner, if at all, and keep such Resorts open;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">our ability to attract and retain guests given the risks, or perceived risks, of gathering in public places;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">the willingness of guests to travel or purchase advanced commitment products, such as our portfolio of season pass products;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">existing or future restrictions imposed by governmental authorities that may restrict our operations or the ability of our guests to return to our Resorts;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">actual or perceived deterioration or weakness in economic conditions, unemployment levels, the job or housing markets, consumer debt levels or consumer confidence, as well as other adverse economic or market conditions due to COVID-19 or otherwise, and their collective impacts on demand for travel and leisure;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">our ability to adjust capital spending and maintain sufficient liquidity to remain positioned for long-term success;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">our ability to incentivize and retain our current employees, reinstate our furloughed employees as we reopen, attract and hire sufficient future seasonal employees, and the risk of lawsuits related to COVID-19;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">our ability to access debt and equity capital on attractive terms, or at all; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">the impact of disruption and instability in the global financial markets or deteriorations in credit and financing conditions on our access to capital necessary to fund operating costs, including maintenance capital spending, or to address maturing liabilities.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">The extent and duration of the impact of the outbreak of COVID-19 on our business, consolidated results of operations, consolidated financial position and consolidated cash flows, will depend largely on future developments, including the duration and spread of the outbreak within the U.S., the related impact on factors affecting guest behavior, including consumer confidence and spending and when we will be able to resume normal operations, all of which are highly uncertain and cannot be predicted. In April 2020 we introduced Epic Coverage for the 2020/2021 North American ski season, which provides refunds to all pass holders in the event of certain resort closures (including closures due to COVID-19) for any portion of the season that is not able to be utilized. Accordingly, to the extent that any of our Resorts would need to be closed for all or any portion of the 2020/2021 North American ski season (whether due to COVID-19 or otherwise), we could be required to provide a significant amount of refunds to our customers, which could have a material negative impact on our financial performance and condition.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">We may be required to raise additional capital in the future and our access to and cost of financing will depend on, among other things, global economic conditions, conditions in the global financing markets, the availability of sufficient amounts of financing, our prospects and our credit ratings. The terms of future debt agreements could include more restrictive covenants, or require incremental collateral, which may further restrict our business operations. There is no guarantee that debt financings will be available in the future to fund our obligations, or that they will be available on terms consistent with our expectations. In addition, because of reduced travel demand, certain of our leased properties may not generate revenue sufficient to meet operating expenses.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">COVID-19 presents material uncertainty and risk with respect to our business, financial performance and condition, operating results, liquidity and cash flows. To the extent the COVID-19 pandemic adversely affects our business and financial results, it may also have the effect of heightening many of the other risks described in the Risk Factors presented in this Annual Report on Form 10-K, and our subsequent filings with the SEC. Any future outbreak of any other highly infectious or contagious disease could have a similar impact.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">19</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Leisure travel is particularly susceptible to various factors outside of our control, including terrorism, the uncertainty of military conflicts, the cost and availability of travel options and changing consumer preferences or willingness to travel. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our business is sensitive to the willingness of our guests to travel. Acts of terrorism, political events and developments in military conflicts in areas of the world from which we draw our guests could depress the public&#8217;s propensity to travel and cause severe disruptions in both domestic and international air travel and consumer discretionary spending, which could reduce the number of visitors to our resorts and have an adverse effect on our results of operations. Many of our guests travel by air and the impact of higher prices for commercial airline services, availability of air services and willingness of guests to travel by air could cause a decrease in visitation by Destination guests to our resorts. A significant portion of our guests also travel by vehicle and higher gasoline prices or willingness of guests to travel generally due to safety concerns could cause a decrease in visitation by guests who would typically drive to our resorts. Higher cost of travel may also affect the amount that guests are willing to spend at our resorts and could negatively impact our revenue particularly for lodging, ski school, dining and retail/rental.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, our success depends on our ability to attract visitors to our ski resorts. Changes in consumer tastes and preferences, particularly those affecting the popularity of skiing and snowboarding, and other social and demographic trends could adversely affect the number of skier visits during a ski season. A significant decline in skier visits compared to historical levels would have a material adverse effect on our business, prospects, financial condition, results of operations and cash flows.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are subject to the risk of prolonged weakness in general economic conditions including adverse effects on the overall travel and leisure related industries. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Skiing, travel and tourism are discretionary recreational activities that can entail a relatively high cost of participation and may be adversely affected by economic slowdown or recession. Economic conditions in North America, Europe and parts of the rest of the world, including high unemployment, erosion of consumer confidence, sovereign debt issues and financial instability in the global markets, may potentially have negative effects on the travel and leisure industry and on our results of operations. See &#8220;Risks Related to Our Business&#8212;The current outbreak of the novel coronavirus, or COVID-19, has had, and is expected to continue to have, a significant negative impact on our financial condition and operations. Further, the spread of the COVID-19 outbreak has caused severe disruptions in the U.S. and global economy and financial markets and could potentially create widespread business continuity issues of an as yet unknown magnitude and duration.&#8221; As a result of these and other economic uncertainties, we are experiencing and may continue to experience in the future, a change in booking trends including where guest reservations are made much closer to the actual date of stay, a decrease in the length of stay, a decrease in consumer spending and/or a decrease in group bookings. We cannot predict what further impact these uncertainties may continue to have on overall travel and leisure or more specifically, on our guest visitation, guest spending or other related trends and the ultimate impact it will have on our results of operations. Additionally, the actual or perceived fear of weakness in the economy could also lead to decreased spending by our guests. This could be further exacerbated by the fact that we charge some of the highest prices for single day lift tickets and ancillary services in the ski industry; however, we offer pass products, including the Epic Day Pass, that are available at a discount to the single day lift tickets. In the event of a decrease in visitation and overall guest spending we may be required to offer a higher amount of discounts and incentives than we have historically, which would adversely impact our operating results. Our resorts also serve as a destination for international guests. To the extent there are material changes in exchange rates relative to the U.S. dollar or travel restrictions in place due to COVID-19, it could impact the volume of international visitation, which could have a significant impact on our operating results.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">20</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are vulnerable to unfavorable weather conditions and the impact of natural disasters. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our ability to attract guests to our resorts is influenced by weather conditions and by the amount and timing of snowfall during the ski season. Unfavorable weather conditions can adversely affect skier visits and our revenue and profits. Unseasonably warm weather may result in inadequate natural snowfall and reduce skiable terrain, which increases the cost of snowmaking and could render snowmaking, wholly or partially, ineffective in maintaining quality skiing conditions, including in areas which are not accessible by snowmaking equipment. On the other hand, excessive natural snowfall may significantly increase the costs incurred to groom trails and may make it difficult for guests to access our mountain resorts. In the past 20 years, our resorts in the Rocky Mountain region of Colorado and Utah, the Sierra Nevada Mountains in Lake Tahoe and the Coast Mountains in British Columbia, Canada have averaged between 20 and 39 feet of annual snowfall, which is significantly in excess of the average for North American ski resorts. However, there can be no assurance that our resorts will receive seasonal snowfalls near their historical average in the future. As an example of weather variability, during the 2017/2018 North American ski season, we experienced historically low snowfall across our western U.S. resorts for the first half of the ski season, with snowfall in Vail,&#160;Beaver Creek&#160;and&#160;Park City&#160;through January 31, 2018 at the lowest levels recorded in over 30 years while&#160;Tahoe&#160;was more than 50% below the 20-year average. Additionally, during the 2018/2019 North American ski season, our western U.S. resorts experienced above-average snowfall while through December 31, 2019, our Pacific Northwest resorts (Whistler Blackcomb and Stevens Pass) experienced the lowest snowfall in over 30 years. Past snowfall levels or consistency of snow conditions can impact sales of pass products or other advanced bookings. Additionally, the early season snow conditions and skier perceptions of early season snow conditions can influence the momentum and success of the overall ski season. Unfavorable weather conditions can adversely affect our resorts and lodging properties as guests tend to delay or postpone vacations if conditions differ from those that are typical at such resorts for a given season. Although we have created geographic diversification to help mitigate the impact of weather variability, there is no way for us to predict future weather patterns or the impact that weather patterns may have on our results of operations or visitation.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A severe natural disaster, such as a forest fire, may interrupt our operations, damage our properties, reduce the number of guests who visit our resorts in affected areas and negatively impact our revenue and profitability. Damage to our properties could take a long time to repair and there is no guarantee that we would have adequate insurance to cover the costs of repair and recoup lost profits. Furthermore, such a disaster may interrupt or impede access to our affected properties or require evacuations and may cause visits to our affected properties to decrease for an indefinite period. The ability to attract visitors to our resorts is also influenced by the aesthetics and natural beauty of the outdoor environment where our resorts are located. A severe forest fire or other severe impacts from naturally occurring events could negatively impact the natural beauty of our resorts and have a long-term negative impact on our overall guest visitation as it would take several years for the environment to recover.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, there is scientific research that emissions of greenhouse gases continue to alter the composition of the global atmosphere in ways that are affecting and are expected to continue affecting the global climate. The effect of climate change, including any impact of global warming, could have a material adverse effect on our results of operations as a result of increased weather variability and/or warmer overall temperatures, which would likely adversely affect skier visits and our revenue and profits.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Failure to maintain the integrity and security of our internal, employee or guest data could result in damages to our reputation and subject us to costs, fines or lawsuits. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our business relies on the use of large volumes of data. We collect and retain guest data, including credit card numbers and other sensitive personal information, for various business purposes, such as processing transactions, marketing and other promotional purposes. We also maintain personal information about our employees. We store and use data in a variety of information systems, including some systems maintained by service providers. Maintaining the integrity and security of that data can be costly and is critical to our business, and our guests and employees have a high expectation that we will adequately protect their personal information. We could make faulty decisions if that data is inaccurate or incomplete. A significant theft, loss, loss of access to, or fraudulent use of customer, employee, or company data could adversely impact our reputation, and could result in significant remedial and other expenses, fines, and/or litigation.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Cyberattacks could disrupt our business.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Despite our efforts, information networks and systems are vulnerable to service interruptions or to security breaches from inadvertent or intentional actions by our employees or vendors, or from attacks by malicious third parties.&#160;In recent years, there has been a rise in the number of sophisticated cyberattacks on network and information systems, and as a result, the risks associated with such an event continue to increase. We have experienced cybersecurity threats and incidents, none of which has been material to us to date.&#160;We have taken, and continue to take, steps to address these concerns by implementing security and internal controls. However, there can be no assurance that a system interruption, security breach or unauthorized access will not occur.&#160; Cyber threats and attacks are constantly evolving and becoming more sophisticated, which increases the difficulty and cost of detecting and </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">defending against them. Cyber threats and attacks can have cascading impacts across networks, systems and operations. Those events may include process breakdowns, security architecture or design vulnerabilities, or may result from the acts of third parties, such as computer hackings, cyber-attacks, computer viruses, worms or other destructive or disruptive software, denial of service attacks, malicious social engineering or other malicious activities. Any such interruption, breach or unauthorized access to our network or systems, or the networks or systems of our vendors, could adversely affect our business operations and result in the loss of critical or sensitive confidential information or intellectual property, as well as impact our ability to meet regulatory or compliance obligations, and could result in financial, legal, business and reputational harm to us. These events also could result in large expenditures to repair or replace the damaged properties, products, services, networks or information systems to protect them from similar events in the future.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our business is highly seasonal. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain and lodging operations are highly seasonal in nature. Peak operating season for our North American Resorts is from late November to mid-April, and accordingly, revenue and profits from our mountain and most of our lodging operations are substantially lower and historically result in losses from late spring to late fall. Conversely, peak operating seasons for our Australian resorts, GTLC and Flagg Ranch, mountain summer activities (including our Epic Discovery program), sightseeing and our golf courses generally occur from June to the end of September. Revenue and profits generated by our Australian resorts, GTLC and Flagg Ranch, mountain summer activities/sightseeing and golf peak season operations are not nearly sufficient to fully offset our off-season losses from our other mountain and lodging operations. For Fiscal 2020, approximately 83% of total combined Mountain and Lodging segment net revenue (excluding Lodging segment revenue associated with reimbursement of payroll costs) was earned during our second and third fiscal quarters. This seasonality is partially mitigated by the sale of pass products (which for Fiscal 2020 accounted for approximately 51% of the total lift revenue) predominately occurring during the period prior to the start of the ski season as the cash from those sales is collected in advance and revenue is mostly recognized in the second and third quarters. In addition, the timing of major holidays and school breaks can impact vacation patterns and therefore visitation at our mountain resorts and urban ski areas. If we were to experience an adverse event or realize a significant deterioration in our operating results during our peak periods (our fiscal second and third quarters) we would be unable to fully recover any significant declines due to the seasonality of our business (for example, the outbreak of the COVID-19 pandemic which resulted in a premature closure to our 2019/2020 North American ski season in March 2020. See &#8220;Risks Related to Our Business&#8212;The current outbreak of the novel coronavirus, or COVID-19, has had, and is expected to continue to have, a significant negative impact on our financial condition and operations. Further, the spread of the COVID-19 outbreak has caused severe disruptions in the U.S. and global economy and financial markets and could potentially create widespread business continuity issues of an as yet unknown magnitude and duration.&#8221;). Operating results for any three-month period are not necessarily indicative of the results that may be achieved for any subsequent quarter or for a full fiscal year (see Notes to Consolidated Financial Statements).</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Forest Service authorized year-round recreational activities, which allows our mountain resorts on Forest Service land to offer more summer-season recreational opportunities, including our Epic Discovery program that we launched at Heavenly, Vail and Breckenridge. We anticipate that as these summer activities mature, and with Whistler Blackcomb&#8217;s robust summer activities and the activities at our other resorts, we could realize incremental summer guest visitation and revenue. However, our summer activities may not generate the projected revenue and profit margins we expect, and even if our future plans are successful, we do not expect that these enhanced summer operations will fully mitigate the seasonal losses that our mountain operations experience from late spring to late fall.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We face significant competition. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The ski resort and lodging industries are highly competitive. During the 2018/2019 North American ski season (the ski season immediately prior to the outbreak of the COVID-19 pandemic), combined skier visits for all ski areas in North America were approximately 79.7 million. There are approximately 770 ski areas in North America, including approximately 475 in the U.S. that serve local and destination guests, and these ski areas can be more or less impacted by weather conditions based on their location and snowmaking capabilities. The factors that we believe are important to customers include:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">proximity to population centers;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">availability and cost of transportation to ski areas;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">availability and quality of lodging options in resort areas;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ease of travel to ski areas (including direct flights by major airlines);</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">pricing of lift tickets and/or pass products and the magnitude, quality and price of related ancillary services (ski school, dining and retail/rental), amenities and lodging;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">snowmaking facilities;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">type and quality of skiing and snowboarding offered;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">duration of the ski season;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">weather conditions; and</span></div></td></tr></table><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">22</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">reputation.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:76px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There are many competing options for our guests, including other major resorts in Colorado, Utah, California, Nevada, the Pacific Northwest, Northeast, Southwest and British Columbia, Canada, and other major destination ski areas worldwide. Our guests can choose from any of these alternatives, as well as non-skiing vacation options and destinations around the world. In addition, other forms of leisure such as sporting events and participation in other competing indoor and outdoor recreational activities are available to potential guests.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">RockResorts hotels, our other hotels and our property management business compete with numerous other hotel and property management companies that may have greater financial resources than we do and they may be able to adapt more quickly to changes in customer requirements or devote greater resources to promotion of their offerings than us.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">The high fixed cost structure of mountain resort operations can result in significantly lower margins if revenues decline. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The cost structure of our mountain resort operations has a significant fixed component with variable expenses including, but not limited to, land use permit or lease fees and other resort related fees; credit card fees; retail/rental cost of sales; labor; and resort, dining and ski school operations. Any material declines in the economy, elevated geopolitical uncertainties and/or significant changes in historical snowfall patterns, as well as other risk factors discussed herein, could adversely affect revenue. See &#8220;Risks Related to Our Business&#8212;The current outbreak of the novel coronavirus, or COVID-19, has had, and is expected to continue to have, a significant negative impact on our financial condition and operations. Further, the spread of the COVID-19 outbreak has caused severe disruptions in the U.S. and global economy and financial markets and could potentially create widespread business continuity issues of an as yet unknown magnitude and duration.&#8221; As such, our margins, profits and cash flows may be materially reduced due to declines in revenue given our relatively high fixed cost structure. In addition, increases in wages and other labor costs, energy, healthcare, insurance, transportation and fuel, property taxes, minimum lease payments and other expenses included in our fixed cost structure may also reduce our margin, profits and cash flows.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We may not be able to fund resort capital expenditures. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We regularly expend capital to construct, maintain and renovate our mountain resorts and properties in order to remain competitive, maintain the value and brand standards of our mountain resorts and properties and comply with applicable laws and regulations. We cannot always predict where capital will need to be expended in a given fiscal year and capital expenditures can increase due to forces beyond our control. In March 2020, we announced our full capital plan for calendar year 2020, pursuant to which we anticipated we would spend approximately $210 million to $215 million, including one-time items associated with integrations, the one-time Triple Peaks and Stevens Pass transformation plan, one-time Peak Resorts capital improvements, real estate related capital and approximately $4 million of reimbursable investments. Excluding such one-time items, we expected to spend approximately $155 million to $160 million on resort capital expenditures during calendar year 2020. On April 1, 2020, as part of our response to the impacts of COVID-19 on our business, we announced a reduction to our capital plan for calendar year 2020 by approximately $80 million to $85 million, with the vast majority of these savings coming from the deferral of many of our discretionary capital projects. We are planning to defer all new chair lifts, terrain expansions and other mountain and base area improvements, while continuing with the vast majority of our maintenance capital spending. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our ability to fund capital expenditures will depend on our ability to generate sufficient cash flow from operations and/or to borrow from third parties in the debt or equity markets. We cannot provide assurances that our operations will be able to generate sufficient cash flow to fund such capital expenditures, or that we will be able to obtain sufficient financing on adequate terms, or at all. Our ability to generate cash flow and to obtain third-party financing will depend upon many factors, including:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">our future operating performance; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">general economic conditions and economic conditions affecting the resort industry, the ski industry and the capital markets; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">competition; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">legislative and regulatory matters affecting our operations and business;</span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:76px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Any inability to generate sufficient cash flows from operations or to obtain adequate third-party financing could cause us to delay or abandon certain projects and/or plans.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">23</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">A disruption in our water supply would impact our snowmaking capabilities and operations</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">.</span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our operations are heavily dependent upon our access to adequate supplies of water for snowmaking and to otherwise conduct our operations. Our mountain resorts are subject to federal, state, provincial and local laws and regulations relating to water rights. Changes in these laws and regulations may adversely affect our operations. In addition, a severe and prolonged drought may adversely affect our water supply and increase the cost of snowmaking. A significant change in law or policy, impact from climate change or any other interference with our access to adequate supplies of water to support our current operations or an expansion of our operations would have a material adverse effect on our business, prospects, financial position, results of operations and cash flows.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We rely on various government permits and landlord approvals at our U.S. resorts. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our U.S. resort operations require permits and approvals from certain federal, state and local authorities, including the Forest Service, U.S. Army Corps of Engineers, the States of Vermont and New Hampshire and the NPS. Virtually all of our ski trails and related activities, including our current and proposed comprehensive summer activities plan, at Vail Mountain, Breckenridge, Keystone, Crested Butte, Stevens Pass, Heavenly, Kirkwood, Mount Snow, Wildcat, a majority of Beaver Creek and portions of Attitash are located on National Forest land. The Forest Service has granted us permits to use these lands, but maintains the right to review and approve many operational matters, as well as the location, design and construction of improvements in these areas. Currently, our permits expire on the following dates:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:39.0625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Forest Service Resort </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Expiration Date</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2029</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 1, 2031</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Keystone</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">December 31, 2032</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Beaver Creek</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">November 8, 2039</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Heavenly</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">May 1, 2042</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mount Snow</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April 4, 2047</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Attitash</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April 4, 2047</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Wildcat</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">November 18, 2050</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Kirkwood</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">March 1, 2052</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stevens Pass</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">August 15, 2058</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Crested Butte</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">September 27, 2058</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Forest Service can terminate or amend these permits if, in its opinion, such termination is required in the public interest. A termination or amendment of any of our permits could have a materially adverse effect on our business and operations. In order to undertake improvements and new development, we must apply for permits and other approvals. These efforts, if unsuccessful, could impact our expansion efforts. Furthermore, Congress may materially increase the fees we pay to the Forest Service for use of these National Forest lands. Stowe and Okemo are partially located on land we lease from the State of Vermont, and Mount Sunapee is located on land we lease from the State of New Hampshire. We are required to seek approval from such states for certain developments and improvements made to the resort. Certain other resorts are operated on land under long term leases with third parties. For example, operations at our Northstar, Park City and Mad River Mountain resorts are conducted pursuant to long-term leases with third parties who require us to operate the resorts in accordance with the terms of the leases and seek certain approvals from the respective landlords for improvements made to the resorts. The initial lease term for Northstar with affiliates of EPR Properties expires in January 2027 and allows for three 10-year renewal options. We entered into a transaction agreement, master lease agreement and ancillary transaction documents with affiliate companies of Talisker Corporation (&#8220;Talisker&#8221;), and the initial lease term for our Park City resort with Talisker expires in May 2063 and allows for six 50-year renewal options. Additionally, GTLC and Flagg Ranch operate under concessionaire agreements with the NPS that expire on December 31, 2021 and October 31, 2026, respectively. There is no guarantee that at the end of the initial lease/license or agreements under which we operate our resorts we will renew or, if desired, be able to negotiate new terms that are favorable to us. Additionally, our resorts that operate on privately-owned land are subject to local land use regulation and oversight by county and/or town government and may not be able to obtain the requisite approvals needed for resort improvements or expansions. Failure to comply with the provisions, obligations and terms (including renewal requirements and deadlines) of our material permits and leases could adversely impact our operating results.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">24</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We rely on foreign government leases and landlord approvals, and are subject to certain related laws and regulations, at our international resorts. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our international resort operations require permits and approvals from certain foreign authorities, including the Province of British Columbia and the New South Wales and Victoria, Australia governments. Our operations at Whistler Blackcomb are located on Crown Land within the traditional territory of the Squamish and Lil&#8217;wat Nations, and the operations and future development of both Whistler Mountain and Blackcomb Mountain are governed by Master Development Agreements, which expire on February 23, 2077. We have a lease and a license for Perisher within the Kosciusko National Park which expires in June 2048, with an option to renew for an additional period of 20 years. Perisher relies on a suite of planning approvals (and existing use rights) granted under the Australian EPA Act to operate the resort. Strategic planning documents have been adopted to provide a framework for the assessment and approval of future development at the resort. Perisher also holds a number of environmental approvals to regulate its operations, including an environment protection license and a suite of dangerous goods licenses related to the storage of diesel, heating oil and propane in storage tanks across the resort. Each of Falls Creek and a majority of Hotham is located in the Alpine National Park in Victoria, Australia that is permanently reserved under the Crown Land Act and subject to the ARM Act. The ARM Act established the Falls Creek RMB and the Hotham RMB, which is responsible for the management and collection of fees from Falls Creek and Hotham, respectively, and the ARM Regulations give each of the Falls Creek RMB and the Hotham RMB certain discretion over the operations of Falls Creek and Hotham, respectively, including the authority to (i) declare the snow season, (ii) temporarily close the applicable resort if entry would be a significant danger to public safety, and (iii) determine which portions of the applicable resort are open to the public and the activities that are permitted on those portions of such resort. There is no guarantee that at the end of the initial lease/license or agreements under which we operate our resorts we will renew or, if desired, be able to negotiate new terms that are favorable to us. Failure to comply with the provisions, obligations and terms (including renewal requirements and deadlines) of our material permits and leases could adversely impact our operating results.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are subject to extensive environmental and health and safety laws and regulations in the ordinary course of business. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our operations are subject to a variety of federal, state, local and foreign environmental laws and regulations including those relating to air emissions, discharges to water, storage, treatment and disposal of wastes and other liquids, land use, remediation of contaminated sites, protection of natural resources such as wetlands and sustainable visitor or tourist use and enjoyment. For example, future expansions of certain of our mountain facilities must comply with applicable forest plans approved under the National Forest Management Act, federal, state and foreign wildlife protection laws or local zoning requirements, and in Vermont, our operations must comply with Act 250, which regulates the impacts of development to, among other things, waterways, air, wildlife and earth resources, and any projects must be completed pursuant to a Master Plan. In addition, most projects to improve, upgrade or expand our ski areas are subject to environmental review under the NEPA, FRPA, Act 250, the CEQA, the Australian NPW Act, the Australian EPA Act or the Australian EP Act, as applicable. The NEPA and CEQA require the Forest Service, or other governmental entities, to study any proposal for potential environmental impacts and include various alternatives in its analysis. Our ski area improvement proposals may not be approved or may be approved with modifications that substantially increase the cost or decrease the desirability of implementing the project. Our facilities are subject to risks associated with mold and other indoor building contaminants. From time to time our operations are subject to inspections by environmental regulators or other regulatory agencies. We are also subject to worker health and safety requirements as well as various state and local public health laws, rules, regulations and orders related to COVID-19, including mask and social distancing requirements. We believe our operations are in substantial compliance with applicable material environmental, health and safety requirements. However, our efforts to comply do not eliminate the risk that we may be held liable, incur fines or be subject to claims for damages, and that the amount of any liability, fines, damages or remediation costs may be material for, among other things, the presence or release of regulated materials at, on or emanating from properties we now or formerly owned or operated, newly discovered environmental impacts or contamination at or from any of our properties, or changes in environmental laws and regulations or their enforcement.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">25</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Changes in security and privacy laws and regulations could increase our operating costs, increase our exposure to fines and litigation, and adversely affect our ability to market our products, properties and services effectively</span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information, security, and privacy requirements imposed by applicable laws and governmental regulation and the requirements of the payment card industry are increasingly demanding in the U.S. and other jurisdictions where we operate. Maintaining compliance with applicable security and privacy regulations may increase our operating costs or our exposure to potential fines and litigation in connection with the enforcement of such regulations, or otherwise impact our ability to market our products, properties and services to our guests. Any future changes or restrictions in U.S. or international privacy laws could also adversely affect our operations, including our ability to transfer guest data. Additionally, we rely on a variety of direct marketing techniques, including email marketing, online advertising, and postal mailings. Changes in U.S. or international law affecting marketing, solicitation or privacy, could adversely affect our marketing activities and force changes in our marketing strategy or increase the costs of marketing. We also obtain access to potential customers from travel service providers or other companies with whom we have substantial relationships, and we market to some individuals on these lists directly or through other companies&#8217; marketing materials. If access to these lists was prohibited or otherwise restricted, our ability to develop new customers and introduce them to our products could be impaired.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We rely on information technology to operate our businesses and maintain our competitiveness, and any failure to adapt to technological developments or industry trends could harm our business or competitive position. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We depend on the use of sophisticated information technology and systems for central reservations, point of sale, marketing, customer relationship management and communication, procurement, maintaining the privacy of guest and employee data, administration and technologies we make available to our guests. We must continuously improve and upgrade our systems and infrastructure to offer enhanced products, services, features and functionality, while maintaining the reliability and integrity of our systems, network security and infrastructure. Our future success also depends on our ability to adapt our infrastructure to meet rapidly evolving consumer trends and demands and to respond to competitive service and product offerings. In addition, we may not be able to maintain our existing systems or replace or introduce new technologies and systems as quickly as we would like or in a cost-effective manner. Delays or difficulties implementing new or enhanced systems may keep us from achieving the desired results in a timely manner, to the extent anticipated, or at all. Any interruptions, outages or delays in our systems, or deterioration in their performance, could impair our ability to process transactions and could decrease the quality of service we offer to our guests. Also, we may be unable to devote adequate financial resources to new technologies and systems in the future. If any of these events occur, our business and financial performance could suffer.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We may not be able to hire, train, reward and retain adequate team members and determine and maintain adequate staffing, which may impact our ability to achieve our operating, growth and financial objectives.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our long-term growth and profitability depend partially on our ability to recruit and retain high-quality employees to work in and manage our resorts. Adequate staffing and retention of qualified employees is a critical factor affecting our guests&#8217; experiences in our resorts. Maintaining adequate staffing requires precise workforce planning which has been complicated and is unpredictable due the impacts of the COVID-19 pandemic on guest preferences and on labor markets. The market for the most qualified talent continues to be competitive and we must provide competitive wages, benefits and workplace conditions to attract and retain our most qualified employees. Year round employees may seek other employment and seasonal employees may decline to return, to be re-hired, or to be hired for the first time during this coming winter season. Personal or public health concerns related to COVID-19 might make some employees and potential candidates reluctant to work in enclosed environments such as our hotels, restaurants and retail/rental stores. Resort-area housing could be even more limited than usual, making it difficult for employees to obtain available, affordable housing. A shortage of international workers based on immigration and cultural exchange limitations currently in place, failure to recruit and retain new domestic employees in a timely manner, or higher than expected attrition levels all could affect our ability to open and operate parts of our resorts, deliver guest service at traditional margins or achieve our labor cost objectives.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We depend on a seasonal workforce. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain and lodging operations are highly dependent on a large seasonal workforce. We recruit year-round to fill thousands of seasonal staffing needs each season and work to manage seasonal wages and the timing of the hiring process to ensure the appropriate workforce is in place. Furthermore, we cannot guarantee that we will be able to recruit and hire adequate seasonal personnel as the business requires. Changes in immigration laws could also impact our workforce because we recruit and hire foreign nationals as part of our seasonal workforce. For example, on June 22, 2020, an executive order was executed in the United States suspending the issuance of several visas for foreign workers until at least the end of 2020. Increased seasonal wages or an inadequate workforce could have an adverse impact on our results of operations.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">26</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are subject to risks associated with our workforce, including increased labor costs. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are subject to various federal, state and foreign laws governing matters such as minimum wage requirements, sick leave pay, overtime compensation and other working conditions, work authorization requirements, discrimination and family and medical leave. Cost of labor and labor-related benefits are primary components in the cost of our operations. Labor shortages, affordable employee housing shortages and increased employee turnover and health care mandates could also increase our labor costs and labor-related benefits. As minimum wage rates increase, including further potential federal and state legislative changes to the minimum wage rate, we may need to increase not only the wages of our minimum wage employees but also the wages paid to employees at wage rates that are above the minimum wage. From time to time, we have also experienced non-union employees attempting to unionize. While only a very small portion of our employees are unionized at present, we may experience additional union activity in the future, which could lead to disruptions in our business, increases in our operating costs and/or constraints on our operating flexibility. These potential labor impacts could adversely impact our results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">If we do not retain our key personnel, our business may suffer. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The success of our business is heavily dependent on the leadership of key management personnel, including our senior executive officers. If any of these persons were to leave, it could be difficult to replace them, and our business could be harmed. We do not maintain &#8220;key-man&#8221; life insurance on any of our employees.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are subject to litigation in the ordinary course of business. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are, from time to time, subject to various asserted or unasserted legal proceedings and claims. Any such proceedings or claims, regardless of merit, could be time consuming and expensive to defend and could divert management&#8217;s attention and resources. While we believe we have adequate insurance coverage and/or accrue for loss contingencies for all known matters that are probable and can be reasonably estimated, we cannot provide any assurance that the outcome of all current or future litigation proceedings and claims will not have a material adverse effect on us and our results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our business depends on the quality and reputation of our brands, and any deterioration in the quality or reputation of these brands could have an adverse impact on our business.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A negative public image or other adverse events could affect the reputation of one or more of our mountain resorts, other destination resorts, hotel properties and other businesses or more generally impact the reputation of our brands. </span><span style="font-family:inherit;font-size:10pt;color:#212529;">Information posted on social media platforms at any time may be adverse to our interests or may be inaccurate, each of which may harm our reputation or business. Any resulting harm on our business may be immediate without affording us an opportunity for redress or correction. </span><span style="font-family:inherit;font-size:10pt;">If the reputation or perceived quality of our brands declines, our market share, reputation, business, financial condition or results of operations could be adversely impacted. Additionally, our intellectual property, including our trademarks, domain names and other proprietary rights, constitutes a significant part of our value. Any misappropriation, infringement or violation of our intellectual property rights could also diminish the value of our brands and their market acceptance, competitive advantages or goodwill, which could adversely affect our business.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">There is a risk of accidents occurring at our mountain resorts or competing mountain resorts which may reduce visitation and negatively impact our operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our ability to attract and retain guests depends, in part, upon the external perceptions of the Company, the quality and safety of our resorts, services and activities, including summer activities, and our corporate and management integrity. While we maintain and promote an on-mountain safety program, there are inherent risks associated with our resort activities. From time to time in the past, accidents and other injuries have occurred on Resort property. An accident or an injury at any of our resorts or at resorts operated by competitors, particularly an accident or injury involving the safety of guests and employees that receives media attention, could negatively impact our brand or reputation, cause loss of consumer confidence in us, reduce visitation at our resorts, and negatively impact our results of operations. The considerable expansion in the use of social media over recent years has compounded the impact of negative publicity. If any such incident occurs during a time of high seasonal demand, the effect could disproportionately impact our results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">27</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our acquisitions might not be successful. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have completed numerous acquisitions, including most recently Peak Resorts, Hotham and Falls Creek, and may continue to acquire certain mountain resorts, hotel properties and other businesses complementary to our own, as well as developable land in proximity to our resorts. Acquisitions are complex to evaluate, execute and integrate. We cannot ensure that we will be able to accurately evaluate or successfully integrate and manage acquired mountain resorts, properties and businesses and increase our profits from these operations. We continually evaluate potential acquisitions both domestically and internationally and intend to actively pursue acquisition opportunities, some of which could be significant. As a result, we face various risks from acquisitions, including:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">our evaluation of the synergies and/or long-term benefits of an acquired business;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">our inability to integrate acquired businesses into our operations as planned;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">diversion of our management&#8217;s attention;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increased expenditures (including legal, accounting and due diligence expenses, higher administrative costs to support the acquired entities, information technology, personnel and other integration expenses);</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">potential increased debt leverage;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">potential issuance of dilutive equity securities;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">litigation arising from acquisition activity; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">potential impairment of goodwill, intangible or tangible assets; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">unanticipated problems or liabilities.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:76px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, we run the risk that any new acquisitions may fail to perform in accordance with expectations, and that estimates of the costs of improvements and integration for such properties may prove inaccurate.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We have recently acquired companies that were not subject to rules and regulations promulgated under the Sarbanes-Oxley Act of 2002, as amended (&#8220;Sarbanes-Oxley&#8221;), and, therefore, they may lack the internal controls of a U.S. public company, which could ultimately affect our ability to ensure compliance with the requirements of Section 404 of Sarbanes-Oxley</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have recently acquired companies that were not previously subject to the rules and regulations promulgated under Sarbanes-Oxley and accordingly were not required to establish and maintain an internal control infrastructure meeting the standards promulgated under Sarbanes-Oxley. Our assessment of and conclusion on the effectiveness of our internal control over financial reporting as of July 31, 2020 did not include certain elements of the internal controls of Peak Resorts, which was acquired during our fiscal year ended July 31, 2020.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Although our management will continue to review and evaluate the effectiveness of our internal controls in light of these acquisitions, we cannot provide any assurances that there will be no significant deficiencies or material weaknesses in our internal control over financial reporting. Any significant deficiencies or material weaknesses in the internal control structure of our acquired businesses may cause significant deficiencies or material weaknesses in our internal control over financial reporting, which could have a material adverse effect on our business and our ability to comply with Section 404 of the Sarbanes-Oxley Act.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our international operations subject us to additional risks. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the acquisitions of Whistler Blackcomb in Canada and Perisher, Hotham and Falls Creek in Australia, and potential future international acquisitions, we have and may continue to increase our operations outside of the United States. We are accordingly subject to a number of risks relating to doing business internationally, any of which could significantly harm our business. These risks include:</span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">restriction on the transfer of funds to and from foreign countries, including potentially negative tax consequences;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">currency exchange rates;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increased exposure to general market and economic conditions outside the United States;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">additional political risk;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">compliance with international laws and regulations (including anti-corruption regulations, such as the U.S. Foreign Corrupt Practices Act);</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">data security; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">foreign tax treaties and policies.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exchange rate fluctuations could result in significant foreign currency gains and losses and affect our business results. </span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are exposed to currency translation risk because the results of Whistler Blackcomb, Perisher, Hotham and Falls Creek are reported in their local currencies, which we then translate to U.S. dollars for inclusion in our Consolidated Financial Statements. As a result, changes in foreign exchange rates, in particular between the Canadian dollar, Australian dollar and the U.S. dollar, affect the amounts we record for our foreign assets, liabilities, revenues and expenses, and could have a negative effect on our financial results. We currently do not enter into hedging arrangements to minimize the impact of foreign currency fluctuations. We expect that our exposure to foreign currency exchange rate fluctuations will increase as our international operations grow and if we acquire additional international resorts.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We are subject to accounting and tax regulations and use certain estimates and judgments that may differ significantly from actual results, including adverse determinations by tax authorities. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Implementation of existing and future legislation, rulings, standards and interpretations from the Financial Accounting Standards Board (&#8220;FASB&#8221;) or other regulatory bodies could affect the presentation of our financial statements and related disclosures. Future regulatory requirements could significantly change our current accounting practices and disclosures. Such changes in the presentation of our financial statements and related disclosures could change an investor&#8217;s interpretation or perception of our financial position and results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We use many methods, estimates and judgments in applying our accounting policies (see &#8220;Critical Accounting Policies&#8221; in Item 7 of this Form 10-K). Such methods, estimates and judgments are, by their nature, subject to substantial risks, uncertainties and assumptions, and factors may arise over time that lead us to change our methods, estimates and judgments. Changes in those methods, estimates and judgments could significantly affect our results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are subject to income and other taxes in the United States and in multiple foreign jurisdictions. Due to economic and political conditions, tax rates in various jurisdictions may be subject to significant change. Our effective tax rates could be affected by changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities, or changes in tax laws or their interpretation. For example, the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;) was enacted on December 22, 2017 and resulted in broad and significantly complex changes that impacted the corporate tax rate, our deferred income taxes and the taxation of our foreign earnings. The comprehensive impact of the Tax Act is subject to future guidance and interpretations by the U.S. Treasury Department, the Internal Revenue Service and other standard-setting bodies, which could impact our effective tax rate and may have adverse or uncertain effects on our business and financial condition.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 27, 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (the &#8220;CARES Act&#8221;) to provide certain relief as a result of the COVID-19 outbreak. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. Although we continue to examine the impacts the CARES Act may have on our business, results of operations, financial condition and liquidity, we are immediately benefiting from the tax credit and payment deferment provisions of the CARES Act.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are also subject to the examination of tax returns and other tax matters by the Internal Revenue Service (&#8220;IRS&#8221;) and other tax authorities and governmental bodies. We regularly assess the likelihood of an adverse outcome resulting from these examinations to determine the adequacy of our provision for taxes. There can be no assurance as to the outcome of these examinations. If our effective tax rates were to increase or if the ultimate determination of our taxes owed is for an amount in excess of amounts previously accrued, our financial condition, operating results and cash flows could be adversely affected.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;padding-left:84px;text-indent:-84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Risks Relating to Our Capital Structure</span></div><div style="line-height:120%;text-align:justify;padding-left:84px;text-indent:-84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our stock price is highly volatile. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The market price of our stock is highly volatile and subject to wide fluctuations in response to factors such as the following, some of which are beyond our control:</span></div><div style="line-height:120%;text-align:left;padding-left:76px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">quarterly variations in our operating results;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">operating results that vary from the expectations of securities analysts and investors;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">change in valuations, including our real estate held for sale;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">changes in the overall travel, gaming, hospitality and leisure industries;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">changes in expectations as to our future financial performance, including financial estimates by securities analysts and investors or such guidance provided by us;</span></div></td></tr></table><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">29</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">announcements by us or companies in the travel, gaming, hospitality and leisure industries of significant contracts, acquisitions, dispositions, strategic partnerships, joint ventures, capital commitments, plans, prospects, service offerings or operating results;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">additions or departures of key personnel;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">future sales of our securities; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">trading and volume fluctuations;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">other risk factors as discussed herein; and </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">other unforeseen events.</span></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stock markets in the U.S. have often experienced extreme price and volume fluctuations. Market fluctuations, as well as general political and economic conditions including acts of terrorism, military conflicts, outbreak of a contagious disease, prolonged economic uncertainty, a recession or interest rate or currency rate fluctuations, could adversely affect the market price of our stock.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We cannot provide assurance that we will pay dividends, or if paid, that dividend payments will be consistent with historical levels. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In fiscal 2011, our Board of Directors approved the commencement of a regular quarterly cash dividend on our common stock at an annual rate of $0.60 per share, subject to quarterly declaration. The most recent dividend declared on March 5, 2020 was in the amount of $1.76 per share.  Dividends are funded through cash flow from operations, available cash on hand and borrowings under the revolver portion of the Eighth Amended and Restated Credit Agreement (the &#8220;Vail Holdings Credit Agreement&#8221;). The declaration of dividends is subject to the discretion of our Board of Directors, and is limited by applicable state law concepts of available funds for distribution, as well as contractual restrictions. As a result, the amount, if any, of the dividends to be paid in the future will depend upon a number of factors, including our available cash on hand, anticipated cash needs, overall financial condition, restrictions contained in our senior credit facility, the Vail Holdings Credit Agreement, any future contractual restrictions, future prospects for earnings and cash flows, as well as other factors considered relevant by our Board of Directors. In addition, our Board of Directors may also suspend the payment of dividends at any time if it deems such action to be in the best interests of the Company and its stockholders. For example, on April 1, 2020, in response to actions taken in response to COVID-19, we announced that our Board of Directors suspended our quarterly dividend for at least two quarters. Additionally, during the period that we are subject to the Temporary Waiver Period (See &#8220;Risks Relating to Our Capital Structure&#8212;Restrictions imposed by the terms of our indebtedness may prevent or limit our future business plans.&#8221;), we are prohibited from paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) we have liquidity of at least $400.0 million, and the aggregate amount of dividends paid and share repurchases made by us during the Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter. If we do not pay dividends, the price of our common stock must appreciate for investors to realize a gain on their investment in Vail Resorts, Inc. This appreciation may not occur and our stock may in fact depreciate in value.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Anti-takeover provisions affecting us could prevent or delay a change of control that is beneficial to our stockholders. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provisions of our certificate of incorporation and bylaws, provisions of our debt instruments and other agreements and provisions of applicable Delaware law and applicable federal and state regulations may discourage, delay or prevent a merger or other change of control that holders of our securities may consider favorable. These provisions could:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">delay, defer or prevent a change in control of our Company;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">discourage bids for our securities at a premium over the market price;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">adversely affect the market price of, and the voting and other rights of the holders of our securities; or</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:76px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:46px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">impede the ability of the holders of our securities to change our management.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Our indebtedness could adversely affect our financial condition and our ability to operate our business, to react to changes in the economy or our industry, to fulfill our obligations under the Notes, to pay our other debts, and could divert our cash flow from operations for debt payments. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">We have a substantial amount of debt, which requires significant interest and principal payments. As of July 31, 2020, we had</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">$2.4 billion</span><span style="font-family:inherit;font-size:10pt;"> in total indebtedness outstanding. This amount includes (i)</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> $600.0 million aggregate principal amount of our unsecured senior notes issued on May 4, 2020 (the &#8220;Notes&#8221;), (ii) </span><span style="font-family:inherit;font-size:10pt;color:#212529;">$1.2 billion</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> of indebtedness pursuant to the term loan facility under Vail Holdings, Inc.&#8217;s Eighth Amended and Restated Credit Agreement, as amended (the &#8220;Vail Holdings Credit Agreement&#8217;&#8217;), (iii) </span><span style="font-family:inherit;font-size:10pt;color:#212529;">$58.2 million</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> of indebtedness under the Whistler Credit Agreement, (iv) </span><span style="font-family:inherit;font-size:10pt;color:#212529;">$346.0 million</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> with respect to the Canyons Obligation, (v) </span><span style="font-family:inherit;font-size:10pt;color:#212529;">$114.2 million</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> with respect to the EPR Secured Notes under the master credit and security agreements and other related agreements with EPT Ski Properties, Inc. and its affiliates (&#8220;EPR&#8217;&#8217;), as amended (collectively, the &#8220;EPR Agreements&#8217;&#8217; and together with the Vail Holdings Credit Agreement and the Whistler Credit Agreement, the &#8220;Credit Agreements,&#8217;&#8217; and such facilities, the &#8220;Credit Facilities&#8217;&#8217;) and (vi) </span><span style="font-family:inherit;font-size:10pt;color:#212529;">$51.5 million</span><span style="font-family:inherit;font-size:10pt;color:#212529;"> with respect to the EB-5 Development Notes. </span><span style="font-family:inherit;font-size:10pt;">Our borrowings under the Vail Holdings Credit </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Agreement are subject to interest rate changes substantially increasing our risk to changes in interest rates. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, currently bear interest annually at a rate of LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75% (during the Temporary Waiver Period, as defined below). Subsequent to the expiration of the Temporary Waiver Period (as defined below), interest rate margins may fluctuate based upon the ratio of our Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. We also have, on a cumulative basis, minimum lease payment obligations under operating leases of approximately </span><span style="font-family:inherit;font-size:10pt;">$333.4 million</span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020. Our level of indebtedness and minimum lease payment obligations could have important consequences. For example, it could:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">make it more difficult for us to satisfy our obligations under our outstanding debt;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increase our vulnerability to general adverse economic and industry conditions;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">require us to dedicate a substantial portion of our cash flow from operations to payments on our indebtedness, including the annual payments under the Canyons lease, thereby reducing the availability of our cash flow to fund working capital, capital expenditures, real estate developments, marketing efforts and other general corporate purposes;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">limit our flexibility in planning for, or reacting to, changes in our business and the industry in which we operate;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">place us at a competitive disadvantage compared to our competitors that have less debt; </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">limit our ability to borrow additional funds, refinance debt, or obtain additional financing for working capital, capital expenditures, debt service requirements, acquisitions or other general corporate purposes;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">make it difficult for us to satisfy our obligations, including debt service requirements under our outstanding debt; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">cause potential or existing customers to not contract with us due to concerns over our ability to meet our financial obligations, such as insuring against our professional liability risks, under such contracts.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">Furthermore, our debt under our Credit Facilities bears interest at variable rates. </span><span style="font-family:inherit;font-size:10pt;">We may be able to incur additional indebtedness in the future. The terms of our senior credit facility and the Notes do not fully prohibit us from doing so. If we incur additional debt, the related risks that we face could intensify.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Restrictions imposed by the terms of our indebtedness may prevent us from capitalizing on business opportunities. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The operating and financial restrictions and covenants in our credit agreements and the indenture governing the Notes may adversely affect our ability to finance future operations or capital needs or to engage in other business activities and strategic initiatives that may be in our long-term best interests. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our credit agreements impose significant operating and financial restrictions on us. These restrictions limit our ability and the ability of our subsidiaries to, among other things:</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">incur or guarantee additional debt or issue capital stock;</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">pay dividends and make other distributions on, or redeem or repurchase, capital stock;</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">make certain investments;</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">incur certain liens;</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">enter into transactions with affiliates;</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">merge or consolidate;</span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">enter into agreements that restrict the ability of subsidiaries to make dividends, distributions or other payments to us or the guarantors;</span></div></td></tr></table><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">designate restricted subsidiaries as unrestricted subsidiaries; and</span></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:24px;"><span style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">&#8226;</span><span style="font-family:inherit;font-size:10pt;">transfer or sell assets.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">O</span><span style="font-family:inherit;font-size:10pt;color:#212529;">n April 28, 2020, we entered into an amendment to the Vail Holdings Credit Agreement, pursuant to which we will be exempt from complying with the agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless we make a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#8220;Financial Covenants Temporary Waiver Period&#8221;), after which we will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by us). Additionally, pursuant to this amendment, we are required to comply with a monthly minimum liquidity test (defined as unrestricted cash and temporary cash investments of Vail Resorts, Inc. and its restricted subsidiaries and available commitments under our revolving credit facility) of not less than $150.0 million, during the period beginning July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#8217; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period (such period, the&#160;&#8220;Temporary Waiver Period&#8221;).</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">During the Temporary Waiver Period, we are prohibited from the following (unless majority approval of the lenders is obtained under the Vail Holdings Credit Agreement):</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Credit Agreement and (y) the Company has liquidity of at least $400.0 million, and the aggregate amount of dividends paid and share repurchases made by the Company during the Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">making capital expenditures in excess of $200.0 million per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Vail Holdings Credit Agreement;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">making (i) non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity of at least $300.0 million and (ii) investments in non-subsidiaries in excess of $50.0 million in the aggregate; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;color:#212529;">acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.</span></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The indenture governing the Notes contains a number of significant restrictions and covenants that limit our ability to:</span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">grant or permit liens;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">engage in sale/leaseback transactions; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">engage in a consolidation or merger, or sell, transfer or otherwise dispose of all or substantially all of our assets.</span></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, the Whistler Credit Agreement contains restrictions on the ability of Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership (together &#8220;The WB Partnerships&#8221;) and their respective subsidiaries, and the EPR Agreements contain restrictions on the ability of Peak Resorts and its subsidiaries, to make dividends, distributions or other payments to us or the guarantors. We and our subsidiaries are subject to other covenants, representations and warranties in respect of our Credit Facilities, including financial covenants as defined in the Credit Agreements. Events beyond our control, including the impact of the ongoing COVID-19 pandemic, may affect our ability to comply with these covenants. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of these restrictions, we will be limited as to how we conduct our business and we may be unable to raise additional debt or equity financing to compete effectively or to take advantage of new business opportunities. The terms of any future indebtedness we may incur could include more restrictive covenants. We cannot assure you that we will be able to maintain compliance with these covenants in the future and, if we fail to do so, that we will be able to obtain waivers from the lenders and/or amend the covenants. </span></div><div style="line-height:120%;text-align:justify;padding-left:76px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There can be no assurance that we will meet the financial covenants contained in our credit agreements, when in effect. If we breach any of these restrictions or covenants, or suffer a material adverse change which restricts our borrowing ability under our Credit Facilities, we would not be able to borrow funds thereunder without a waiver. Any inability to borrow could have an adverse effect on our business, financial condition and results of operations. In addition, a breach, if uncured, could cause a default under the applicable agreement(s) governing our indebtedness, in which case such we may be required to repay these borrowings before their due date. We may not have or be able to obtain sufficient funds to make these accelerated payments. If we are forced to refinance these borrowings on less favorable terms or cannot refinance these borrowings, our results of operations and financial condition could be adversely affected.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term stockholder value. Share repurchases could also increase the volatility of the price of our common stock and could diminish our cash reserves</span><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">.</span><span style="font-family:inherit;font-size:10pt;">&#160; </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2006, our Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to 3,000,000 shares of common stock. In July 2008, the Board of Directors increased the authorization by an additional 3,000,000 shares, and in December 2015, the Board increased the authorization by an additional 1,500,000 shares for a total authorization to repurchase shares of up to 7,500,000 shares. Since inception of its share repurchase program through July 31, 2020, the Company has repurchased </span><span style="font-family:inherit;font-size:10pt;">6,161,141</span><span style="font-family:inherit;font-size:10pt;"> shares at a cost of approximately </span><span style="font-family:inherit;font-size:10pt;">$404.4 million</span><span style="font-family:inherit;font-size:10pt;">. As of July 31, 2020, </span><span style="font-family:inherit;font-size:10pt;">1,338,859</span><span style="font-family:inherit;font-size:10pt;"> shares remained available to repurchase under the existing share repurchase program which has no expiration date.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Although our Board of Directors has approved a share repurchase program, the share repurchase program does not obligate us to repurchase any specific dollar amount or to acquire any specific number of shares. The timing and amount of repurchases, if any, will depend upon several factors, including market and business conditions, the trading price of our common stock and the nature of other investment opportunities. The repurchase program may be limited, suspended or discontinued at any time without prior </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">32</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">notice. In addition, repurchases of our common stock pursuant to our share repurchase program could cause our stock price to be higher than it would be in the absence of such a program and could potentially reduce the market liquidity for our stock. Additionally, our share repurchase program could diminish our cash reserves, which may impact our ability to finance future growth and to pursue possible future strategic opportunities and acquisitions. There can be no assurance that any share repurchases will enhance stockholder value because the market price of our common stock may decline below levels at which we repurchased shares of stock. Although our share repurchase program is intended to enhance long-term stockholder value, there is no assurance that it will do so and short-term stock price fluctuations could reduce the program&#8217;s effectiveness.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s0A73E09520D9540EA1C82F1FD008BE7B"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 1B.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">UNRESOLVED STAFF COMMENTS.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">None.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sEB3E21359FD8553EBB920FBBAEFA1100"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 2.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PROPERTIES. </span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table sets forth the principal properties that we own or lease for use in our operations:</span></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:44%;"></td><td style="width:14%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Location</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Ownership</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Use</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Afton Alps, MN</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, clubhouse, buildings, commercial space and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Alpine Valley Resort, OH</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Arrowhead Mountain, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Attitash Mountain, NH (279 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">BC Housing RiverEdge, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">26% Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Bachelor Gulch Village, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Beaver Creek Resort, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Beaver Creek Mountain, CO (3,849</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Beaver Creek Mountain Resort, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf course, clubhouse, commercial space&#160;and residential condominium units</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Big Boulder Mountain, PA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Boston Mills/Brandywine, OH</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Breckenridge Ski Resort, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Breckenridge Mountain, CO (5,702</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Breckenridge Terrace, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">50% Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Broomfield, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Corporate offices</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Colter Bay Village, WY</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Concessionaire contract</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Crested Butte Mountain Resort, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Buildings, other improvements and land used for operation of Crested Butte Mountain Resort</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Crested Butte Mountain Resort, CO (4,350 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Crotched Mountain, NH</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Double Tree by Hilton Breckenridge, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Eagle-Vail, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Warehouse facility</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Edwards, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Administrative offices</span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">33</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:44%;"></td><td style="width:14%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Location</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Ownership</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Use</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Falls Creek Alpine Resort, Victoria, Australia (1,112 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Headwaters Lodge &amp; Cabins at Flagg Ranch, WY</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Concessionaire contract</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Heavenly Mountain Resort, CA&#160;&amp; NV</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Heavenly Mountain, CA&#160;&amp; NV</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(7,050 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Hidden Valley Resort, MO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Hotham Alpine Resort, Victoria, Australia (791 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Hotham Airport, Victoria, Australia</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Regional airport</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Hunter Mountain, NY</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Jack Frost Ski Resort, PA</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Jackson Hole Golf&#160;&amp; Tennis Club,</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">WY</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf course, clubhouse, tennis and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Jackson Lake Lodge, WY</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Concessionaire contract</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Jenny Lake Lodge, WY</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Concessionaire contract</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Keystone Conference Center, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Conference facility</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Keystone Lodge, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, spa, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Keystone Resort, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, commercial space, property management, dining and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Keystone Mountain, CO (8,376 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Keystone Ranch, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf course, clubhouse and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Kirkwood Mountain Resort, CA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Kirkwood Mountain, CA (2,330 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Liberty Mountain Resort, PA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Mad River Mountain, OH</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Mount Snow, VT (894 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, golf course, clubhouse, buildings, commercial space and other improvements.</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Mount Sunapee Resort, NH (850 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Mt. Brighton, MI</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Mt. Mansfield, VT (approximately 1,400 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased </span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements used for operation of Stowe Mountain Resort</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Northstar California Resort, CA</span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(7,200 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased </span><span style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, golf course, commercial space, dining facilities, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Northstar Village, CA</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased </span><span style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Commercial space, ski resort operations, dining facilities, buildings, property management and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Okemo Mountain Resort, VT</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management and commercial space</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Okemo Mountain, VT (1,223 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, dining facilities, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Okemo Valley Golf Club, VT</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf course, dining facilities and commercial space</span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">34</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:44%;"></td><td style="width:14%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Location</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Ownership</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Use</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Paoli Peaks, IN</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;padding-top:2px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Park City Mountain, UT </span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(8,900 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased </span><span style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations including ski lifts, ski trails, buildings, commercial space, dining facilities, property management, conference facilities and other improvements (including areas previously referred to as Canyons Resort, UT)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;padding-top:2px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Park City Mountain, UT </span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(220 acres)</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, dining facilities, commercial space, buildings, real estate held for sale or development and other improvements </span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:2px;padding-top:2px;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Perisher Ski Resort, NSW, Australia </span></div><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(3,335 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned/Leased/Licensed</span><span style="font-family:inherit;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, dining facilities, commercial space, railway, buildings, lodging, conference facilities and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Red Cliffs Lodge, CA</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Dining facilities, ski resort operations, commercial space, administrative offices</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Red Sky Ranch, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf courses, clubhouses, dining facilities and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">River Course at Keystone, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Golf course and clubhouse</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Roundtop Mountain Resort, PA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings, commercial space and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Seasons at Avon, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased/50% Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Administrative offices and commercial space</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Snow Creek, MO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SSI Venture, LLC (&#8220;VRR&#8221;) Properties; CO, CA, NV, UT, MN &amp; BC, Canada</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned/Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Approximately 265 rental and retail stores (of which approximately 120 stores are currently held under lease) for recreational products, and 6 leased warehouses</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski Tip Lodge, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging and dining facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Stevens Pass, WA</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing and guest parking facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Stevens Pass Mountain, WA (2,443 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Stevens Pass Ski Resort, WA</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Stowe Mountain Resort, VT</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements and commercial space</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">The Arrabelle at Vail Square, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, spa, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">The Lodge at Vail, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, spa, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">The Osprey at Beaver Creek, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">The Tarnes at Beaver Creek, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">31% Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Tenderfoot Housing, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">50% Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">The Pines Lodge at Beaver Creek, CO</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Lodging, dining and conference facilities</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Vail Mountain, CO</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Vail Mountain, CO (12,353 acres)</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Whistler Blackcomb Resort, BC, Canada</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">75% Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements, property management, commercial space and real estate held for sale or development</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Whistler Mountain and Blackcomb Mountain, BC, Canada</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">MDA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Whistler Blackcomb Resort, BC, Canada</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Leased</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Employee housing facilities</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Whitetail Resort, PA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski resort operations, including ski lifts, ski trails, golf course, buildings, commercial space and other improvements</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Wildcat Mountain, NH</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">SUP/Owned</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Wilmot Mountain, WI</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Owned</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">Ski trails, ski lifts, buildings and other improvements</span></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Many of our properties are used across all segments in complementary and interdependent ways.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">35</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1)&#160;&#160;&#160;&#160;The operations of Northstar are conducted on land and with operating assets owned by affiliates of EPR Properties under operating leases which were assumed by us. The leases provide for the payment of a minimum annual base rent with periodic increases in base rent over the lease term. In addition, the leases provide for the payment of percentage rent based on a percentage of gross revenues generated at the property over certain thresholds. The initial term of the leases expires in fiscal 2027, and is subject to three 10-year renewal options.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(2)&#160;&#160;&#160;&#160;The operations of portions of Park City are conducted pursuant to a long-term lease on land and with certain operating assets owned by TCFC LeaseCo, LLC and TCFC PropCo, LLC. The lease provides for the payment of a minimum annual base rent with periodic increases in base rent over the lease term and participating contingent payments of a percentage of the amount by which EBITDA for resort operations exceeds certain thresholds, also subject to periodic increases over the lease term. The initial term of the lease expires in fiscal 2063 and is subject to six 50-year renewal options. Additionally, in connection with the lease, we entered into certain ancillary agreements with third parties, including leases and easements, allowing for various resort operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sB81E8856CCC45B1FB8EF800B20FD09C4"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 3.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">LEGAL PROCEEDINGS.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are a party to various lawsuits arising in the ordinary course of business. We believe that we have adequate insurance coverage and/or have accrued for all loss contingencies for asserted and unasserted matters and that, although the ultimate outcome of such claims cannot be ascertained, current pending and threatened claims are not expected, individually or in the aggregate, to have a material adverse impact on our financial position, results of operations and cash flows.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s99DFF0F66234549EBFAE8DD7F2BC864A"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 4.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">MINE SAFETY DISCLOSURES.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Not applicable.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">36</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sF046C6857C2D55C8A79AC8D51818C962"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PART II</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s25E73A963CE457CF92F32A226A0E89F1"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 5.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">MARKET FOR REGISTRANT&#8217;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Market Information and Dividend Policy</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our common stock is traded on the New York Stock Exchange (&#8220;NYSE&#8221;) under the symbol &#8220;MTN.&#8221; As of September&#160;21, 2020, 40,189,225 shares of common stock were outstanding, held by approximately 265 holders of record.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table sets forth information on the high and low sales prices of our common stock on the NYSE and the quarterly cash dividends declared per share of common stock for each quarterly period for the two most recently completed fiscal years.</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:0%;"></td><td style="width:53%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td><span>&#160;</span></td><td rowspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Quarter Ended</span></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td rowspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" rowspan="4" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Cash</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Dividends</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Declared</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Per&#160;Share</span></div></td></tr><tr><td><span>&#160;</span></td></tr><tr><td><span>&#160;</span></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Market&#160;Price&#160;Per&#160;Share</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td><span>&#160;</span></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">High</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Low</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal Year 2020</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">218.00</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">154.19</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April&#160;30, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">251.86</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">125.00</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.76</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">January&#160;31, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">255.37</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">226.14</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.76</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">October&#160;31, 2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">248.99</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">221.69</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.76</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal Year 2019</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">249.67</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">209.78</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.76</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">April&#160;30, 2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">229.09</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">188.31</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.76</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">January&#160;31, 2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">286.40</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">177.92</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.47</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td><span>&#160;</span></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">October&#160;31, 2018</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">302.76</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">228.07</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.47</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In fiscal 2011, our Board of Directors approved the commencement of a regular quarterly cash dividend on our common stock, subject to quarterly declaration, which has typically been increased on an annual basis. We announced on April 1, 2020 that we would be suspending the declaration of our quarterly dividend for at least the next two fiscal quarters in response to the impacts of the COVID-19 pandemic. Additionally, pursuant to the Third Amendment of the Vail Holdings Credit Agreement (as defined below), we are prohibited from paying any dividends during the Financial Covenants Temporary Waiver Period (as defined below) unless (i) no default or potential default exists under the Vail Holdings Credit Agreement and (ii) the Company has liquidity (as defined below) of at least $400.0 million, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter. The amount, if any, of dividends to be paid in the future will depend on our available cash on hand, anticipated cash needs, overall financial condition, restrictions contained in our Vail Holdings Credit Agreement, future prospects for earnings and cash flows, as well as other factors considered relevant by our Board of Directors.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Repurchase of Equity Securities</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company did not repurchase any shares of common stock during the fourth quarter of the year ended July 31, 2020 (&#8220;Fiscal 2020&#8221;). The share repurchase program is conducted under authorizations made from time to time by our Board of Directors. On March&#160;9, 2006, the Company&#8217;s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to&#160;3,000,000&#160;shares of common stock. On July&#160;16, 2008, the Company&#8217;s Board of Directors increased the authorization by an additional&#160;3,000,000&#160;shares, and on December 4, 2015, the Company&#8217;s Board of Directors increased the authorization by an additional&#160;1,500,000&#160;shares for a total authorization to repurchase shares of up to&#160;7,500,000&#160;shares. Since inception of this stock repurchase program through July&#160;31, 2020, the Company has repurchased 6,161,141 shares at a cost of approximately </span><span style="font-family:inherit;font-size:10pt;">$404.4 million</span><span style="font-family:inherit;font-size:10pt;">. As of July&#160;31, 2020, 1,338,859 shares remained available to repurchase under the existing repurchase authorization. Repurchases under these authorizations may be made from time to time at prevailing prices as permitted by applicable laws, and subject to market conditions, limitations under the April 2020 amendment to our Vail Holdings Credit Agreement and other factors. These authorizations have no expiration date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Performance Graph </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The total return graph below is presented for the period from the beginning of our fiscal year ended July 31, 2016 through the end of Fiscal 2020. The comparison assumes that $100 was invested at the beginning of the period in our common stock (&#8220;MTN&#8221;), </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">37</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Russell 2000 Stock Index, The Standard&#160;&amp; Poor&#8217;s 500 Stock Index and the Dow Jones U.S. Travel and Leisure Stock Index, with dividends reinvested where applicable. We include the Dow Jones U.S. Travel and Leisure Index as we believe we compete in the travel and leisure industry.</span></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The performance graph is not deemed filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) and is not to be incorporated by reference into any of our filings under the Securities Act of 1933 or the Exchange Act, unless such filings specifically incorporate the performance graph by reference therein. </span></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:justify;"><img src="stockgraph2020a01.jpg" alt="stockgraph2020a01.jpg" style="height:424px;width:682px;"></img></div><div><a id="s32C0082FDA9A512DA8FFC86CD2AF40CB"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:24px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 6.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">SELECTED FINANCIAL DATA.</span></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents selected historical consolidated financial data derived from our Consolidated Financial Statements for the periods indicated. The financial data for our fiscal years ended and as of July&#160;31, 2016 through July 31, 2020 should be read in conjunction with those Consolidated Financial Statements, related notes thereto and Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations. The table presented below is unaudited. The data presented below is in thousands, except for diluted net income per share attributable to Vail Resorts, Inc., cash dividends declared per share, effective ticket price (&#8220;ETP&#8221;), average daily rate (&#8220;ADR&#8221;) and revenue per available room (&#8220;RevPAR&#8221;) amounts.</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">38</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="20"></td></tr><tr><td style="width:41%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July&#160;31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1) (2)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2017 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2016 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Statement of Operations Data:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,963,704</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,271,575</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,011,553</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,907,218</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,601,286</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total segment operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,466,380</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,571,738</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,396,023</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,322,841</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,152,496</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other operating expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(273,935</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(223,568</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(206,713</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(205,121</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(165,811</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(106,956</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(77,304</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(68,725</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(30,807</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(40,360</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before (provision) benefit from income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">116,433</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">398,965</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">340,092</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">348,449</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">242,619</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net Income and Dividends:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">109,055</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">323,493</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">401,230</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">231,718</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">149,454</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc. </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">98,833</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">301,163</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">379,898</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">210,553</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">149,754</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income per share attributable to Vail Resorts, Inc. </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.42</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7.32</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">9.13</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.22</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4.01</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash dividends declared per share</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.28</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.46</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.046</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.726</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.865</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Segment Data:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Mountain</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-indent:13px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Skier visits </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(4)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13,483</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14,998</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12,345</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12,047</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10,032</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-indent:13px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ETP </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(5)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">67.72</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">68.89</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">71.31</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">67.93</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">65.59</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lodging</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-indent:13px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ADR </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(6)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">310.76</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">300.47</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">300.90</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">302.80</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">280.38</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-indent:13px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">RevPAR </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(7)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">90.37</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121.81</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">131.08</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">127.95</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">122.61</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Real Estate</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(8)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">96,844</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101,021</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">99,385</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">103,405</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">111,088</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Balance Sheet Data:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:start;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash and cash equivalents </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(9)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">390,980</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">108,850</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">178,145</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">117,389</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">67,897</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:start;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total assets </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(10) </sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,244,232</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,426,077</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,064,984</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,110,718</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,482,018</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:start;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net (including long-term debt due within one year)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,450,799</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,576,260</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,272,732</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,272,421</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">700,263</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:start;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net Debt </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(11)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,059,819</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,467,410</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,094,587</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,155,032</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">632,366</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:start;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Vail Resorts, Inc. stockholders&#8217; equity</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,316,742</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,500,627</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,589,434</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,571,156</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">874,540</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-left:0px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(1)</span><span style="font-family:inherit;font-size:10pt;">We have completed several acquisitions of destination mountain resorts and regional ski areas during the past five years, which impacts comparability between years, including Peak Resorts (acquired September 2019); Falls Creek and Hotham (acquired April 2019); Crested Butte, Mount Sunapee and Okemo (acquired September 2018); Stevens Pass (acquired August 2018); Stowe (acquired June 2017); and Whistler Blackcomb (acquired October 2016).</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(2)</span><span style="font-family:inherit;font-size:10pt;">Financial results for the year ended July 31, 2020 were impacted by several one-time adjustments including (i) the deferral of $120.9 million of deferred season pass revenue, as well as $2.9 million of related deferred costs, that would have been recognized during the year ended July 31, 2020 but were deferred as a result of credits that were offered to customers who had purchased 2019/2020 North American pass products and who will purchase 2020/2021 North American pass products, and (ii) </span><span style="font-family:inherit;font-size:10pt;">an asset impairment of approximately&#160;$28.4 million as a result of the effects of the COVID-19 pandemic on our Colorado resort ground transportation company.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(3)</span><span style="font-family:inherit;font-size:10pt;">Net income, net income attributable to Vail Resorts, Inc. and diluted net income per share attributable to Vail Resorts, Inc. were positively impacted during the year ended July 31, 2018 as a result of one-time tax benefits related to comprehensive U.S. tax legislation, which also resulted in a decreased federal U.S. corporate tax rate prospectively from January 1, 2018, and excess tax benefits from employee share award exercises, as discussed subsequently in this document.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(4)</span><span style="font-family:inherit;font-size:10pt;">A skier visit represents a person purchasing a ticket or utilizing a pass to access a destination mountain resort or regional ski area for any part of one day during a winter ski season and includes complimentary access.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">39</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(5)</span><span style="font-family:inherit;font-size:10pt;">ETP is calculated by dividing lift revenue by total skier visits during the respective periods.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(6)</span><span style="font-family:inherit;font-size:10pt;">ADR is calculated by dividing total room revenue (includes both owned room and managed condominium unit revenue) by the number of occupied rooms during the respective periods. </span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(7)</span><span style="font-family:inherit;font-size:10pt;">RevPAR is calculated by dividing total room revenue (includes both owned room and managed condominium unit revenue) by the number of rooms that are available to guests during the respective periods. </span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(8)</span><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment includes all land, development costs and other improvements associated with real estate held for sale and investment.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(9)</span><span style="font-family:inherit;font-size:10pt;">Cash and cash equivalents exclude restricted cash.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(10)</span><span style="font-family:inherit;font-size:10pt;">We adopted a new lease accounting standard on August 1, 2019 using a modified retrospective transition method, in which reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously applicable accounting guidance. As a result of adopting the new lease accounting standard, the Company recorded $221.8 million of right-of-use (&#8220;ROU&#8221;) assets and $254.2 million of related total operating lease liabilities in the Consolidated Balance Sheet as of August 1, 2019.</span></div><div style="line-height:120%;padding-left:0px;padding-top:8px;text-align:justify;text-indent:0px;"><span style="padding-top:8px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:36px;">(11)</span><span style="font-family:inherit;font-size:10pt;">Net Debt, a non-GAAP financial measure, is defined as long-term debt, net plus long-term debt due within one year less cash and cash equivalents. Refer to the end of the Results of Operations section of Item 7. &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; for a reconciliation of long-term debt, net to Net Debt.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">40</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s0A36D2749B1959DEB7404E69839BAFDE"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="padding-top:24px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 7.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations (&#8220;MD&amp;A&#8221;) should be read in conjunction with the Consolidated Financial Statements and notes related thereto included in this Form 10-K. To the extent that the following MD&amp;A contains statements which are not of a historical nature, such statements are forward-looking statements which involve risks and uncertainties. These risks include, but are not limited to, those discussed in Item&#160;1A. &#8220;Risk Factors&#8221; in this Form 10-K. The following discussion and analysis should be read in conjunction with the Forward-Looking Statements section and Item&#160;1A. &#8220;Risk Factors&#8221; each included in this Form 10-K.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The MD&amp;A includes discussion of financial performance within each of our three segments. We have chosen to specifically include segment Reported EBITDA (defined as segment net revenue less segment operating expense, plus or minus segment equity investment income or loss and for the Real Estate segment, plus gain or loss on sale of real property) and Net Debt (defined as long-term debt, net plus long-term debt due within one year less cash and cash equivalents), in the following discussion because we consider these measurements to be significant indications of our financial performance and available capital resources. Resort Reported EBITDA, Total Reported EBITDA and Net Debt are not measures of financial performance or liquidity defined under accounting principles generally accepted in the United States (&#8220;GAAP&#8221;). We utilize segment Reported EBITDA in evaluating our performance and in allocating resources to our segments. We also believe that Net Debt is an important measurement as it is an indicator of our ability to obtain additional capital resources for our future cash needs. Refer to the end of the Results of Operations section for a reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA and long-term debt, net to Net Debt.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Items excluded from Reported EBITDA and Net Debt are significant components in understanding and assessing financial performance or liquidity. Reported EBITDA and Net Debt should not be considered in isolation or as an alternative to, or substitute for, net income, net change in cash and cash equivalents or other financial statement data presented in the Consolidated Financial Statements as indicators of financial performance or liquidity. Because Resort Reported EBITDA, Total Reported EBITDA and Net Debt are not measurements determined in accordance with GAAP and are thus susceptible to varying calculations, Resort Reported EBITDA, Total Reported EBITDA and Net Debt, as presented herein, may not be comparable to other similarly titled measures of other companies. In addition, our segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP, may not be comparable to other similarly titled measures of other companies.</span></div><div><a id="s77C6C5DEF99B5FE9B5D86025FDA0B1F1"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Overview</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our operations are grouped into three integrated and interdependent segments: Mountain, Lodging and Real Estate. We refer to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. The Mountain, Lodging and Real Estate segments represented approximately 87%, 13% and 0%, respectively, of our net revenue for Fiscal 2020.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 14, 2020, we announced a temporary closure of our North American Resorts and retail/rental operations as a result of the COVID-19 pandemic and as a precautionary measure for the safety of our guests and employees beginning on March 15, 2020. Subsequently on March 17, 2020, we announced the early closure of the 2019/2020 North American ski season for our North American Resorts, lodging properties and retail stores. Additionally, the ongoing impacts of the COVID-19 pandemic resulted in restrictions, limitations or closures of our 2020 Australian ski area operations and 2020 North American summer operations. Two of our Australian ski areas, Mount Hotham and Falls Creek, opened for their 2020 winter season on July 6, 2020 and were closed four days later due to a &#8220;stay at home&#8221; order put in place by the Victorian government as a result of a reemergence of COVID-19 in the region. These actions (the &#8220;Resort Closures&#8221;), and the COVID-19 pandemic in general, had a significant adverse impact to our results of operations for Fiscal 2020 as further described below in the discussion for each of our segments.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">41</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Mountain Segment</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Mountain segment, the Company operates the following 37 destination mountain resorts and regional ski areas:</span></div><div style="line-height:120%;text-align:justify;"><img src="vrmapfy20.jpg" alt="vrmapfy20.jpg" style="height:450px;width:682px;"></img></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">*Denotes a destination mountain resort, which generally receives a meaningful portion of skier visits from long-distance travelers, as opposed to our regional ski areas, which tend to generate skier visits predominantly from their respective local markets.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, we operate ancillary services, including ski school, dining and retail/rental operations, and for our Australian ski areas, including lodging and transportation operations. Mountain segment revenue is seasonal, with the majority of revenue earned from our North American destination mountain resorts and regional ski areas (collectively, our &#8220;Resorts&#8221;) occurring in our second and third fiscal quarters and the majority of revenue earned from our Australian ski areas occurring in our first and fourth fiscal quarters. Our North American Resorts are typically open for business from mid-November through mid-April, which is the peak operating season for the Mountain segment, and our Australian ski areas are typically open for business from June to early October. Our single largest source of Mountain segment revenue is the sale of lift tickets (including pass products), which represented approximately 53%, 53% and 51% of Mountain segment net revenue for Fiscal 2020, the fiscal year ended July 31, 2019 (&#8220;Fiscal 2019&#8221;) and the fiscal year ended July 31, 2018 (&#8220;Fiscal 2018&#8221;), respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During Fiscal 2020 and as a result of the impacts of the COVID-19 pandemic, including the Resort Closures, we announced that we would offer credits to customers who had purchased 2019/2020 North American pass products towards the purchase of a 2020/2021 North American pass product if such purchase was made by September 17, 2020 (the &#8220;Credit Offer&#8221;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. As a result of the Credit Offer to 2019/2020 pass product holders, we delayed the recognition of approximately $120.9 million of deferred season pass revenue, as well as approximately $2.9 million of related deferred costs, that would have been recognized in Fiscal 2020 and are now expected to be recognized primarily in the second and third quarters of the fiscal year ending July 31, 2021 (&#8220;Fiscal 2021&#8221;). While we expect most of this revenue and deferred cost will be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage (as discussed below) for the 2020/2021 North American ski season and is eligible to utilize their credit toward the purchase of a pass product purchase for the 2021/2022 North American ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">42</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift revenue is driven by volume and pricing. Pricing is impacted by both absolute pricing, as well as the demographic mix of guests, which impacts the price points at which various products are purchased. The demographic mix of guests that visit our North American mountain resorts is divided into two primary categories: (1) out-of-state and international (&#8220;Destination&#8221;) guests and (2) in-state and local (&#8220;Local&#8221;) guests. For the 2019/2020 North American ski season, Destination guests comprised approximately 58% of our North American destination mountain resort skier visits (excluding complimentary access), while Local guests comprised approximately 42% of our North American destination mountain resort skier visits (excluding complimentary access), which compares to approximately 57% and 43%, respectively, for the 2018/2019 North American ski season and approximately 59% and 41%, respectively, for the 2017/2018 North American ski season. Skier visitation at our regional ski areas is largely comprised of Local guests. Destination guests generally purchase our higher-priced lift tickets (including pass products) and utilize more ancillary services such as ski school, dining and retail/rental, as well as lodging at or around our mountain resorts. Destination guest visitation is less likely to be impacted by changes in the weather during the current ski season, but may be more impacted by restrictions or preferences for travel due to the COVID-19 pandemic, adverse economic conditions, the global geopolitical climate or weather conditions in the immediately preceding ski season. Local guests tend to be more value-oriented and weather sensitive. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We offer a variety of pass products for all of our Resorts marketed towards both Destination and Local guests. Our pass product offerings range from providing access to one or a combination of our Resorts to our Epic Pass, which allows pass holders unlimited and unrestricted access to all of our Resorts. The Epic Day Pass, which we began offering for the 2019/2020 North American ski season, is a customizable one to seven day pass product valid at each of our resorts, purchased in advance of the season, for those skiers and riders who expect to ski a certain number of days during the season. For the upcoming 2020/2021 North American ski season, we introduced Epic Mountain Rewards, a program which gives pass product holders a discount of 20% off on-mountain food and beverage, lodging, group ski and ride school lessons, equipment rentals and more at the Company&#8217;s North American owned and operated Resorts. Epic Mountain Rewards is available for everyone who purchases an Epic Pass, Epic Local Pass, Epic Day Pass, Epic Military Pass and most of our other pass products, regardless of whether guests plan to ski one day or every day of the season. Additionally, we introduced Epic Coverage for the 2020/2021 North American ski season, which is free for all pass holders, completely replacing the need for pass insurance, and providing expanded coverage over our historical pass insurance program. Epic Coverage provides refunds in the event of certain resort closures (e.g. for COVID-19), giving pass product holders a refund for any portion of the season that is lost due to qualifying circumstances. Additionally, Epic Coverage provides a refund for personal circumstances that were historically covered by our pass insurance program, such as eligible injuries, job losses and many other personal events, as well as in the event that the pass holder cannot reserve their preferred days.&#160;Refunds for resort closure events could vary based on the duration of the closure, certain elections made by the pass product holder and the number of days skied by the pass product holder. We will estimate the amount of expected refunds under the Epic Coverage program and will reduce the amount of pass product revenue recognized by that expected amount. The expected refunds will be calculated utilizing estimates and assumptions, including historical data and current information. If we believe it is probable that upon resolution of the contingencies for which we would provide refunds that a significant amount of revenue may be reversed, we will not recognize those amounts as revenue until such time as the contingencies have been resolved.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our pass program provides a compelling value proposition to our guests, which in turn assists us in developing a loyal base of customers who commit to ski at our Resorts generally in advance of the ski season and typically ski more days each season at our Resorts than those guests who do not buy pass products. Additionally, we have entered into strategic long-term season pass alliance agreements with third-party mountain resorts including Telluride Ski Resort in Colorado, Sun Valley Resort in Idaho, Snowbasin Resort in Utah, Hakuba Valley and Rusutsu Resort in Japan, Resorts of the Canadian Rockies in Canada, Les 3 Vall&#233;es in France, 4 Vall&#233;es in Switzerland, Skirama Dolomiti in Italy and Ski Arlberg in Austria, which further increases the value proposition of our pass products. As such, our pass program drives strong customer loyalty, mitigates exposure to more weather sensitive guests, generates additional ancillary spending and provides cash flow in advance of winter season operations. In addition, our pass program attracts new guests to our Resorts. All of our pass products, including the Epic Pass and Epic Day Pass, are predominately sold prior to the start of the ski season. Pass product revenue, although primarily collected prior to the ski season, is recognized in the Consolidated Statements of Operations throughout the ski season primarily based on historical visitation (see Notes to Consolidated Financial Statements). </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift revenue consists of pass product lift revenue (&#8220;pass revenue&#8221;) and non-pass product lift revenue (&#8220;non-pass revenue&#8221;). Approximately 51%, 47% and 47% of total lift revenue was derived from pass revenue for Fiscal 2020 (including the impact of the deferral of pass revenue as a result of the Credit Offer), Fiscal 2019 and Fiscal 2018, respectively. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The cost structure of our mountain resort operations has a significant fixed component with variable expenses including, but not limited to, land use permit or lease fees, credit card fees, retail/rental cost of sales and labor, ski school labor and expenses associated with dining operations. As such, profit margins can fluctuate greatly based on the level of revenues associated with visitation.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">43</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-bottom:8px;padding-top:18px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Lodging Segment</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operations within the Lodging segment include (i) ownership/management of a group of luxury hotels through the RockResorts brand proximate to our Colorado and Utah mountain resorts; (ii) ownership/management of non-RockResorts branded hotels and condominiums proximate to our North American Resorts; (iii) National Park Service (&#8220;NPS&#8221;) concessionaire properties including Grand Teton Lodge Company (&#8220;GTLC&#8221;); (iv) a Colorado resort ground transportation company; and (v) mountain resort golf courses.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The performance of our lodging properties (including managed condominium units and our Colorado resort ground transportation company) proximate to our mountain resorts is closely aligned with the performance of the Mountain segment and generally experiences similar seasonal trends, particularly with respect to visitation by Destination guests. Revenues from such properties represented approximately 73%, 70% and 68% of Lodging segment net revenue (excluding Lodging segment revenue associated with reimbursement of payroll costs) for Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively. Management primarily focuses on Lodging net revenue excluding payroll cost reimbursements and Lodging operating expense excluding reimbursed payroll costs (which are not measures of financial performance under GAAP) as the reimbursements are made based upon the costs incurred with no added margin; as such, the revenue and corresponding expense have no effect on our Lodging Reported EBITDA, which we use to evaluate Lodging segment performance. Revenue of the Lodging segment during our first and fourth fiscal quarters is generated primarily by the operations of our NPS concessionaire properties (as their operating season generally occurs from June to the end of September); mountain resort golf operations and seasonally lower volume from our other owned and managed properties and businesses. As discussed above, our North American lodging properties closed early in March for the remainder of the 2019/2020 ski season as a result of the COVID-19 pandemic. Our summer operations for the 2020 season were also limited or adjusted, including at GTLC with the closures of Jackson Lake Lodge and Jenny Lake Lodge, as well as not offering guided activities, in-restaurant dining and the temporary closure of many facilities, among others. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Real Estate Segment</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The principal activities of our Real Estate segment include the sale of land parcels to third-party developers and planning for future real estate development projects, including zoning and acquisition of applicable permits. We continue undertaking preliminary planning and design work on future projects and are pursuing opportunities with third-party developers rather than undertaking our own significant vertical development projects. Additionally, real estate development projects by third-party developers most often result in the creation of certain resort assets that provide additional benefit to the Mountain segment. We believe that, due to our low carrying cost of real estate land investments, we are well situated to promote future projects by third-party developers while limiting our financial risk. Our revenue from the Real Estate segment and associated expense can fluctuate significantly based upon the timing of closings and the type of real estate being sold, causing volatility in the Real Estate segment&#8217;s operating results from period to period.</span></div><div><a id="s501E84625FE456F293B8E9DCC3D93F69"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Trends, Risks and Uncertainties</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have identified the following significant factors (as well as uncertainties associated with such factors) that could impact our future financial performance:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Given the escalating concerns surrounding the spread of COVID-19 and the potential impact that continuing to operate our resorts would have had on our resort communities, we suspended the operations at all of our North American Resorts and retail stores beginning on March 15, 2020 for the remainder of the 2019/2020 North American ski season. As a result of the COVID-19 pandemic and in response to guidance from the Centers for Disease Control and Prevention and other local and national health authorities, operations for the 2020 North American summer season were limited, adjusted or restricted. Additionally, although our Mount Hotham and Falls Creek ski areas opened for their 2020 winter season on July 6, 2020, we closed these two ski areas four days later due to a &#8220;stay at home&#8221; order put in place by the Victorian government as a result of a reemergence of COVID-19 in the region. These various closures and limitations on our operations had a significant negative impact on our results for Fiscal 2020, and we cannot predict the ultimate impact that the Resort Closures and other business disruptions as a result of the COVID-19 pandemic will continue to have on our results for the upcoming 2020/2021 North American ski season or our overall results for Fiscal 2021. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The global outbreak of COVID-19 has led to travel restrictions and other adverse economic impacts including reduced consumer confidence, an increase in unemployment rates and volatility in global and local economies.&#160;Although we are uncertain as to the ultimate severity and duration of the COVID-19 pandemic, the related global travel restrictions and other adverse impacts, we have seen a significant negative change in performance and expect our future performance will also be negatively impacted. In addition, the North American economy may be impacted by economic challenges in North America or declining or slowing growth in economies outside of North America, accompanied by devaluation of currencies, rising inflation, trade tariffs and lower commodity prices. We cannot predict the ultimate impact that the global economic </span></div></td></tr></table><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">44</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-left:36px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">uncertainty as a result of the COVID-19 pandemic will have on overall travel and leisure spending or more specifically, on our guest visitation, guest spending or other related trends for the upcoming 2020/2021 North American ski season.</span></div><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The timing and amount of snowfall can have an impact on Mountain and Lodging revenue, particularly with regard to skier visits and the duration and frequency of guest visitation. To help mitigate this impact, we sell a variety of pass products prior to the beginning of the ski season which results in a more stabilized stream of lift revenue. In early March 2020, we began our pass product sales program for the 2020/2021 North American ski season. In April 2020 and in connection with our announcement of the Credit Offer, we announced significant extensions to our traditional deadlines for pass product sales that normally would have occurred throughout the North American summer selling season. These extensions in our traditional deadlines and broader impacts from COVID-19 has had a significant negative impact on pass product sales through July 31, 2020 in comparison to the prior year comparable pass product sales. As previously discussed, as a result of the Resort Closures, we provided a Credit Offer to 2019/2020 pass product holders to apply toward the purchase of a 2020/2021 pass product. Additionally, looking ahead to the 2020/2021 North American ski season, we are optimistic that we will be operational for the ski season, but we also understand that many pass holders are nervous about the future given the current uncertainty, as our ability to open our Resorts may depend on local and/or state restrictions outside of our control. As a result, we introduced Epic Coverage for the 2020/2021 North American ski season, which is free for all pass holders and completely replaces the need to purchase pass insurance. Epic Coverage provides refunds in the event of certain resort closures (e.g., for COVID-19), giving pass product holders a refund for any portion of the season that is lost due to qualifying circumstances. Additionally, Epic Coverage provides a refund for qualifying personal circumstances that were historically covered by our pass insurance for eligible injuries, job losses and many other personal events, as well as in the event that the pass holder cannot reserve their preferred days. In addition to these changes, in order to give our pass product holders the time they need to make decisions regarding next season, we extended the deadline for pass holders to use their Credit Offer and receive spring benefits (including Buddy Tickets) until September 17, 2020, and we extended the period for pass holders to lock in their purchase with only $49 down. We also announced that we would be implementing a reservation system for our 34 North American Resorts for the 2020/2021 North American ski season, which will only be available for pass holders during the early season (paid lift tickets will not be sold until December 8, 2020).</span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Season pass sales through September 18, 2020 for the upcoming 2020/2021 North American ski season increased approximately 18% in units and decreased approximately 4% in sales dollars as compared to the period in the prior year through September 20, 2019, with sales dollars for this year reduced by the value of the redeemed credits provided to 2019/2020 North American pass holders. Without deducting for the value of the redeemed credits, sales dollars increased approximately 24% compared to the prior year. Pass sales results are adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.76 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales.We cannot predict if this trend will continue for the entire duration of the fall 2020 North American pass sales campaign, nor can we predict the overall impact that the Credit Offer, Epic Coverage, extended spring benefits and the extended $49 down deadline will have on pass product sales or lift revenue for the upcoming 2020/2021 North American ski season.</span></div><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 27, 2020, in response to the outbreak of the COVID-19 pandemic, the U.S. government enacted legislation commonly referred to as the Coronavirus Aid, Relief, and Economic Security Act (the &#8220;CARES Act&#8221;). The CARES Act includes various amendments to the U.S. tax code that impacted the Company&#8217;s accounting and reporting for income taxes during Fiscal 2020 and is expected to continue to impact the Company&#8217;s accounting and reporting for income taxes in the future, including the following: (i) allowing a carryback of the entire amount of eligible Federal net operating losses (&#8220;NOLs&#8221;) generated in calendar years 2018, 2019 and 2020 for up to five years prior to when such losses were incurred, representing a change from previous rules under the Tax Cuts &amp; Jobs Act of 2017 (the &#8220;TCJA&#8221;), in which NOLs could not be carried back to prior years and utilization was limited to 80% of taxable income in future years; (ii) treatment of certain qualified improvement property (&#8220;QIP&#8221;) as 15-year property and allowing such QIP placed in service after December 31, 2017 to be eligible for bonus depreciation, which the Company expects will incrementally add to its pre-existing NOLs; and (iii) increases in the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income for calendar years 2019 and 2020. The CARES Act also provides for refundable employee retention tax credits and defers the requirement to remit the employer-paid portion of social security payroll taxes. As a result, we recorded a benefit of approximately $9.6 million during Fiscal 2020, which primarily offset Mountain and Lodging operating expense, as a result of wages paid to employees who were not providing services. We are still in the process of fully evaluating the potential benefits that the amendments discussed above will have on our financial statements. We also recognized a credit of approximately $8.5 million during Fiscal 2020 as a result of the recent Canada Emergency Wage Subsidy and Australian JobKeeper legislation for our Canadian and Australian employees, which primarily offset Mountain and Lodging operating expense.</span></div></td></tr></table><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">45</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, we had $391.0 million of cash and cash equivalents as well as $418.8 million available under the revolver component of our Eighth Amended&#160;and Restated Credit Agreement, dated as of August 15, 2018 and as amended most recently on April 28, 2020 (the &#8220;Vail Holdings Credit Agreement&#8221;), which represents the total commitment of $500.0 million less certain letters of credit outstanding of $81.2 million. Additionally, we have a credit facility which supports the liquidity needs of Whistler Blackcomb (the &#8220;Whistler Credit Agreement&#8221;). As of July 31, 2020, we had C$221.1 million ($165.1 million) available under the revolver component of the Whistler Credit Agreement (which represents the total commitment of C$300.0 million ($224.0 million) less outstanding borrowings of C$78.0 million ($58.2 million) and a letter of credit outstanding of C$0.9 million ($0.7 million)). </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 28, 2020, we entered into the Third Amendment to our Vail Holdings Credit Agreement (the &#8220;Third Amendment&#8221;). Pursuant to the Third Amendment, the Company is exempt from complying with the Vail Holdings Credit Agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ended July 31, 2020 through January 31, 2022 (unless we make a one-time irrevocable election to terminate such exemption prior to such date) (such period, the &#8220;Financial Covenants Temporary Waiver Period&#8221;), after which we will be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by us). During the Financial Covenants Temporary Waiver Period, we are subject to other restrictions which will limit our ability to make future acquisitions, investments, distributions to stockholders, share repurchases or incur additional debt. See Liquidity and Capital Resources for additional information. Additionally, on May 4, 2020, we completed an offering of $600.0 million in aggregate principal amount of 6.25% Senior Notes due 2025 (the &#8220;Notes&#8221;) in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, a portion of which was utilized to pay down the outstanding balance of the revolver component of our Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period). The Notes are guaranteed on a senior subordinated basis by certain of the Company&#8217;s domestic subsidiaries. </span></div><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We believe that our existing cash and cash equivalents, availability under our credit agreements and the expected positive cash flow from operating activities of our Mountain and Lodging segments less resort capital expenditures will continue to provide us with sufficient liquidity to fund our operations through at least the 2021/2022 ski season, even in the event of extended resort shutdowns.</span></div><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:12px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, through a wholly-owned subsidiary, we acquired 100% of the outstanding stock of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;) at a purchase price of $11.00 per share or approximately </span><span style="font-family:inherit;font-size:10pt;">$264.5 million</span><span style="font-family:inherit;font-size:10pt;">. In addition, contemporaneous with the closing the transaction, Peak Resorts was required to pay approximately </span><span style="font-family:inherit;font-size:10pt;">$70.2 million</span><span style="font-family:inherit;font-size:10pt;"> of certain outstanding debt instruments and lease obligations in order to complete the transaction. Accordingly, the total purchase price, including the repayment of certain outstanding debt instruments and lease obligations, was approximately </span><span style="font-family:inherit;font-size:10pt;">$334.7 million</span><span style="font-family:inherit;font-size:10pt;">, for which we borrowed approximately </span><span style="font-family:inherit;font-size:10pt;">$335.6 million</span><span style="font-family:inherit;font-size:10pt;"> under the Vail Holdings Credit Agreement to fund the acquisition. The newly acquired resorts include: Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire; Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities), as well as lodging operations at certain resorts. We expect that the acquisition of Peak Resorts will positively contribute to our annual results of operations; however we cannot predict the ultimate impact the new resorts will have on our future results of operations.</span></div></td></tr></table><div style="line-height:120%;padding-left:4px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">46</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s3134231195D75E1DA9DFEB51A7D7BC20"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Results of Operations</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Summary</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Shown below is a summary of operating results for Fiscal 2020, Fiscal 2019 and Fiscal 2018 (in thousands):</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:50%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July&#160;31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">98,833</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">301,163</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">379,898</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before (provision) benefit from income taxes</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">116,433</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">398,965</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">340,092</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain Reported EBITDA</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">500,080</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">678,594</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">591,605</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA</span></div></td><td colspan="2" style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,269</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28,100</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">25,006</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort Reported EBITDA</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">503,349</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">706,694</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">616,611</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate Reported EBITDA</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,128</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,317</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">957</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A discussion of segment results, including reconciliations of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA, and other items can be found below. The consolidated results of operations, including any consolidated financial metrics pertaining thereto, include the operations of Peak Resorts (acquired September 24, 2019), Falls Creek and Hotham (acquired April&#160;4, 2019), Triple Peaks (acquired September 27, 2018) and Stevens Pass (acquired August 15, 2018), prospectively from their respective dates of acquisition.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The COVID-19 pandemic and the Resort Closures both had a significant adverse impact to our results of operations for Fiscal 2020, as further described below in our segment results of operations.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The sections titled &#8220;Fiscal 2020 compared to Fiscal 2019&#8221; and &#8220;Fiscal 2019 compared to Fiscal 2018&#8221; in each of the Mountain and Lodging segment discussions below provide comparisons of financial and operating performance for Fiscal 2020 to Fiscal 2019 and Fiscal 2019 to Fiscal 2018, respectively, unless otherwise noted.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">47</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sA3A1E7073BC15095952F59E30A3B6A62"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Mountain Segment</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain segment operating results for Fiscal 2020, Fiscal 2019 and Fiscal 2018 are presented by category as follows (in thousands, except ETP):</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:31%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Percentage</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July&#160;31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Increase/(Decrease)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020/2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019/2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">913,091</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,033,234</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">880,293</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(11.6</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">17.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">189,131</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">215,060</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">189,910</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(12.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">160,763</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">181,837</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">161,402</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(11.6</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/rental</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">270,299</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">320,267</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">296,466</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(15.6</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8.0</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">177,159</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">205,803</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">194,851</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(13.9</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.6</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,710,443</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,956,201</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,722,922</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(12.6</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13.5</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:9px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Labor and labor-related benefits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">473,365</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">507,811</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">443,891</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(6.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail cost of sales</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">96,497</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121,442</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">111,198</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(20.5</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">9.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort related fees</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">75,044</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">96,240</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">87,111</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(22.0</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">General and administrative</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">239,412</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">233,159</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">214,090</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.7</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8.9</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">327,735</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">320,915</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">276,550</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.1</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">16.0</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,212,053</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,279,567</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,132,840</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(5.3</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13.0</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,690</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,960</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,523</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(13.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">500,080</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">678,594</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">591,605</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(26.3</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14.7</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total skier visits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13,483</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14,998</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12,345</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(10.1</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21.5</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ETP</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">67.72</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">68.89</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">71.31</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1.7</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3.4</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain Reported EBITDA includes </span><span style="font-family:inherit;font-size:10pt;">$17.4 million</span><span style="font-family:inherit;font-size:10pt;">, $16.5 million and $15.7 million of stock-based compensation expense for Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fiscal 2020 compared to Fiscal 2019</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain Reported EBITDA decreased $178.5 million, or 26.3%, primarily due to the impact of the delayed recognition of $120.9 million of pass product revenue during Fiscal 2020 as a result of the Credit Offer to 2019/2020 North American pass product holders from the Resort Closures and the overall impacts of the COVID-19 pandemic, which resulted in significantly reduced visitation and operations at our Resorts and retail stores for the 2019/2020 North American ski season, the 2020 Australian ski season and our 2020 North American summer operations. These decreases were partially offset by the incremental operations of Peak Resorts, Falls Creek and Hotham. Mountain segment results include&#160;$13.6 million&#160;and $16.4 million of acquisition and integration related expenses for Fiscal 2020 and Fiscal 2019, respectively, which are recorded within Mountain other operating expense.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift revenue decreased $120.1 million, or 11.6%, primarily due to a 3.4% decrease in pass product revenue and an 18.8% decrease in non-pass revenue. Pass product revenue decreased primarily as a result of the deferral of approximately $120.9 million of pass product revenue associated with the Credit Offer to 2019/2020 North American pass product holders, which would have been recognized during Fiscal 2020 and which is now expected to be recognized primarily in the second and third quarters of Fiscal 2021, partially offset by a combination of an increase in pricing and units sold and increased pass sales to Destination guests, as well as the introduction of the Epic Day Pass. Non-pass revenue decreased primarily due to significantly reduced skier visitation as a result of the Resort Closures, partially offset by an increase in non-pass ETP (excluding Peak Resorts, Falls Creek and Hotham) of 6.2% and incremental revenue from Peak Resorts, Falls Creek and Hotham of approximately $61.4 million. Total non-pass ETP, including the impact of Peak Resorts, Falls Creek and Hotham decreased 7.3%.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school revenue, dining revenue and retail/rental revenue in Fiscal 2020 all decreased compared to Fiscal 2019 due to the Resort Closures. These decreases were partially offset by incremental revenue from our acquisitions of Peak Resorts, Falls Creek and Hotham of $18.0 million of ski school revenue, $23.8 million of dining revenue and $26.8 million of retail/rental revenue.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">48</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other revenue mainly consists of summer visitation and mountain activities revenue, employee housing revenue, guest services revenue, commercial leasing revenue, marketing and internet advertising revenue, private club revenue (which includes both club dues and amortization of initiation fees), municipal services revenue and other recreation activity revenue. Other revenue is also comprised of Australian ski area lodging and transportation revenue. For Fiscal 2020, other revenue decreased as a result of the Resort Closures, partially offset by incremental revenue from Peak Resorts of approximately $12.6 million.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort Closures and the associated actions taken by the Company to reduce costs resulted in a decrease in our operating expense of $67.5 million, or 5.3%, which includes incremental operating expenses from Peak Resorts, Falls Creek and Hotham of approximately $121.4 million, as well as $13.6 million and $16.4 million of acquisition and integration related expenses for Fiscal 2020 and Fiscal 2019, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Labor and labor-related benefits decreased 6.8%, which primarily resulted from cost actions associated with the Resort Closures, including decreased staffing, employee furloughs, salary reductions and reduced variable compensation accruals, as well as tax credits of approximately $12.0 million associated with recent COVID-19 related legislation passed in the U.S., Canada and Australia, partially offset by incremental expenses from Peak Resorts, Falls Creek and Hotham of approximately $50.7 million. Retail cost of sales decreased 20.5% compared to a decrease in retail sales of 20.1%. Resort related fees decreased 22.0% primarily due to decreases in revenue on which those fees are based, partially offset by incremental expenses from Peak Resorts of approximately $4.3 million. General and administrative expense increased 2.7% primarily due to incremental expenses from Peak Resorts, Falls Creek and Hotham of approximately $18.9 million, partially offset by a decrease in allocated corporate overhead costs, a decrease in variable compensation accruals primarily as a result of the Resort Closures and tax credits of approximately $3.3 million associated with recent COVID-19 related legislation passed in the U.S., Canada and Australia. Other expense increased 2.1% primarily due to incremental operating expenses from Peak Resorts, Falls Creek and Hotham of approximately $42.2 million, partially offset by decreases in variable operating expenses associated with the Resort Closures, as well as a decrease in acquisition and integration related expenses.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net primarily includes our share of income from the operations of a real estate brokerage joint venture.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fiscal 2019 compared to Fiscal 2018</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The results reflect an increase in Mountain Reported EBITDA of $87.0 million, or 14.7%, primarily as a result of strong North American pass sales growth for the 2018/2019 North American ski season, strong growth in visitation and spending at our western U.S. resorts and the incremental operations of Stevens Pass, Triple Peaks and Falls Creek/Hotham (acquired in August 2018, September 2018 and April 2019, respectively). Although our Destination guest visitation was less than expected in the pre-holiday period, results from the key holiday weeks through the spring were largely in line with our original expectations, which, when combined with incremental skier visits from Stevens Pass, Triple Peaks and Falls Creek/Hotham, resulted in an increase in total skier visitation of 21.5%. Operating results from Whistler Blackcomb and Perisher, which are translated from Canadian dollars and Australian dollars, respectively, to U.S. dollars, were adversely affected by a decrease in the Canadian and Australian dollar exchange rates relative to the U.S. dollar as compared to prior year, resulting in a decline in Mountain Reported EBITDA of approximately $8 million, which the Company calculated on a constant currency basis by applying current period foreign exchange rates to the prior period results. Additionally, Fiscal 2019 and Fiscal 2018 results include $16.4 million and $10.2 million of acquisition and integration related expenses, respectively.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift revenue increased $152.9 million, or 17.4%, due to increases in both pass revenue and non-pass revenue, as well as incremental revenue from Triple Peaks, Stevens Pass, Falls Creek and Hotham. Pass revenue increased 16.8%, which was driven by a combination of an increase in pricing and units sold and was also favorably impacted by increased pass sales to Destination guests as well as military guests through the introduction of the Military Epic Pass. Non-pass revenue increased 17.9% primarily due to incremental non-pass skier visitation at Triple Peaks, Stevens Pass, Falls Creek and Hotham, and increased non-pass visitation at our western U.S. resorts, which benefited from improved conditions as compared to the prior year and an increase in total non-pass ETP of 4.9%. Total ETP decreased $2.42, or 3.4%, primarily due to higher skier visitation by season pass holders, lower ETP from the acquired Triple Peaks, Stevens Pass, Falls Creek and Hotham resorts and the new Military Epic Pass, partially offset by price increases in both our lift ticket and pass products.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school revenue increased $25.2 million, or 13.2%, and dining revenue increased $20.4 million, or 12.7%, primarily as a result of incremental revenue at Triple Peaks, Stevens Pass, Falls Creek and Hotham, which represented approximately $13.4 million and $12.9 million of the total increase for ski school revenue and dining revenue, respectively. The remaining increases were primarily due to higher skier visitation.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">49</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/rental revenue increased $23.8 million, or 8.0%, of which retail revenue increased $13.6 million, or 6.7%, and rental revenue increased $10.2 million, or 11.0%. The increase in both retail revenue and rental revenue was primarily attributable to higher sales volumes at stores proximate to our western U.S. resorts and other stores in Colorado, as well as incremental revenue from Triple Peaks, Stevens Pass, Falls Creek and Hotham of approximately $13.1 million. These increases were partially offset by removing the low-margin golf product line from our Colorado city stores, store closures and a decrease in sales at Whistler Blackcomb.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other revenue mainly consists of summer visitation and mountain activities revenue, employee housing revenue, guest services revenue, commercial leasing revenue, marketing and internet advertising revenue, private club revenue (which includes both club dues and amortization of initiation fees), municipal services revenue and other recreation activity revenue. Other revenue is also comprised of Australian ski area lodging and transportation revenue. For Fiscal 2019, other revenue increased $11.0 million, or 5.6%, primarily attributable to incremental revenue from Triple Peaks, Stevens Pass, Falls Creek and Hotham of $6.0 million, as well as increases in marketing revenue and mountain activities and services revenue.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating expense increased $146.7 million, or 13.0%, which was primarily attributable to the inclusion of Triple Peaks, Stevens Pass, Falls Creek and Hotham, whose operating expenses were recorded prospectively from their respective dates of acquisition. Additionally, operating expense includes $16.4 million and $10.2 million of acquisition and integration related expenses for Fiscal 2019 and Fiscal 2018, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Labor and labor-related benefits increased 14.4% primarily due to incremental labor expenses from Triple Peaks, Stevens Pass, Falls Creek and Hotham of $41.0 million and increased staffing levels at our western U.S. resorts as compared to the prior year due to historic low snowfall during the prior year period, as well as wage increases associated with our minimum wage initiatives, which were in excess of our historical minimum wage increases, and higher variable compensation accruals.&#160;Retail cost of sales increased 9.2% compared to an increase in retail sales of 6.7%. Resort related fees increased 10.5% primarily due to incremental expenses from Triple Peaks and Stevens Pass of $5.3 million as well as increases in revenue on which those fees are based. General and administrative expense increased 8.9% primarily due to incremental expenses from Triple Peaks, Stevens Pass, Falls Creek and Hotham of $12.4 million, an increase in variable compensation accruals and an increase in allocated corporate overhead costs primarily associated with marketing and information technology. Other expense increased 16.0% primarily due to incremental expenses from Triple Peaks, Stevens Pass, Falls Creek and Hotham of $26.6 million, as well as increases in season pass alliance expense, acquisition and integration related expenses, employee housing expense, fuel expense and rent expense. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net primarily includes our share of income from the operations of a real estate brokerage joint venture.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">50</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sABBCEF8D78F85F03B9C855D14228F152"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Lodging Segment</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging segment operating results for Fiscal 2020, Fiscal 2019 and Fiscal 2018 are presented by category as follows (in thousands, except ADR and RevPAR):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:31%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Percentage</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July&#160;31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Increase/(Decrease)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020/2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019/2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Owned hotel rooms</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">44,992</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">64,826</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">65,252</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(30.6</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(0.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Managed&#160;condominium&#160;rooms</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">76,480</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">86,236</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">70,198</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(11.3</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">22.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">38,252</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">53,730</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">48,554</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(28.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transportation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">15,796</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21,275</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21,111</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(25.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">0.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Golf</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">17,412</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">19,648</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">18,110</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(11.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8.5</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">44,933</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">54,617</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">47,577</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(17.7</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14.8</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">237,865</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">300,332</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">270,802</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(20.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.9</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payroll cost reimbursements</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10,549</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14,330</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13,841</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(26.4</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.5</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Lodging net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">248,414</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">314,662</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">284,643</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(21.1</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Labor&#160;and&#160;labor-related&#160;benefits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">114,279</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">135,940</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121,733</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(15.9</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">11.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">General and administrative</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">39,283</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">41,256</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">37,716</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">9.4</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">81,034</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">95,036</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">86,347</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(14.7</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.1</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">234,596</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">272,232</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">245,796</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(13.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.8</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reimbursed payroll costs</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10,549</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14,330</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13,841</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(26.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.5</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Lodging operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">245,145</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">286,562</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">259,637</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(14.5</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,269</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28,100</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">25,006</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(88.4</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12.4</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:31%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Owned hotel statistics </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ADR</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">266.43</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">256.50</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">250.50</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.9</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">RevPar</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">122.34</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">175.45</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">173.34</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(30.3</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Managed condominium statistics </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ADR</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">328.98</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">324.34</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">336.29</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.4</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3.6</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">RevPar</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">83.10</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">107.67</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">116.26</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(22.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(7.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Owned hotel and managed condominium statistics (combined) </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">ADR</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">310.76</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">300.47</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">300.90</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(0.1</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">RevPar</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">90.37</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">121.81</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">131.08</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(25.8</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(7.1</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1)&#160;RevPAR for Fiscal 2020 declined from the prior comparative period primarily due to the Resort Closures. Owned hotel and managed condominium statistics (combined) for Fiscal 2019 declined from the prior comparative period primarily due to the inclusion of properties acquired through the Triple Peaks acquisition, prospectively from the date of acquisition, as well as a new property management contract for units proximate to our Tahoe resorts.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA includes </span><span style="font-family:inherit;font-size:10pt;">$3.4 million</span><span style="font-family:inherit;font-size:10pt;">, $3.2 million and $3.2 million of stock-based compensation expense for Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively.</span></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fiscal 2020 compared to Fiscal 2019</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA for Fiscal 2020 decreased </span><span style="font-family:inherit;font-size:10pt;">$24.8 million</span><span style="font-family:inherit;font-size:10pt;">, or </span><span style="font-family:inherit;font-size:10pt;">88.4%</span><span style="font-family:inherit;font-size:10pt;">, primarily due to the impacts of the COVID-19 pandemic and the associated Resort Closures.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Primarily as a result of the Resort Closures, revenue from owned hotel rooms, managed condominium rooms, dining, transportation, golf and other revenue each decreased. The decreases resulting from the Resort Closures were partially offset by $13.7 million of incremental revenue from Peak Resorts and Triple Peaks.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">51</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating expense (excluding reimbursed payroll costs) </span><span style="font-family:inherit;font-size:10pt;">decreased</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">13.8%</span><span style="font-family:inherit;font-size:10pt;">. Labor and labor related benefits </span><span style="font-family:inherit;font-size:10pt;">decreased</span><span style="font-family:inherit;font-size:10pt;"> 15.9% primarily due to cost actions associated with the Resort Closures, including decreased staffing, employee furloughs, salary reductions and reduced variable compensation accruals, as well as tax credits of approximately $2.2 million associated with recent COVID-19 related legislation passed in the U.S., Canada and Australia, partially offset by $6.4 million of incremental expenses from Peak Resorts and Triple Peaks. General and administrative expense </span><span style="font-family:inherit;font-size:10pt;">decreased</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">4.8%</span><span style="font-family:inherit;font-size:10pt;"> due to lower allocated corporate overhead costs primarily associated with a reduction in variable compensation accruals, as well as tax credits of approximately $0.5 million associated with recent COVID-19 related legislation passed in the U.S., Canada and Australia. Other expenses </span><span style="font-family:inherit;font-size:10pt;">decreased</span><span style="font-family:inherit;font-size:10pt;"> 14.7% primarily related to lower variable expenses associated with the impact of the Resort Closures, partially offset by $4.7 million of incremental expenses from Peak Resorts and Triple Peaks.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue from payroll cost reimbursement and the corresponding reimbursed payroll costs relate to payroll costs at managed hotel properties where we are the employer and all payroll costs are reimbursed by the owners of the properties under contractual arrangements. Since the reimbursements are made based upon the costs incurred with no added margin, the revenue and corresponding expense have no effect on our Lodging Reported EBITDA.</span></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fiscal 2019 compared to Fiscal 2018</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA for Fiscal 2019 increased $3.1 million, or 12.4%, primarily due to the incremental operations of Triple Peaks.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue from managed condominium rooms increased $16.1 million, or 22.8%, primarily due to incremental revenue from Okemo and Crested Butte of $11.7 million, as well as revenue from incremental managed Tahoe lodging properties that we did not manage in the prior year. Dining revenue increased $5.2 million, or 10.7%, primarily due to incremental revenue from our Okemo and Crested Butte lodging properties of $4.3 million and an increase in dining revenue at our Park City lodging properties. Golf revenue increased $1.5 million, or 8.5%, primarily due to incremental revenue from our golf courses at Okemo of $0.8 million, as well as higher revenue at our golf courses in Beaver Creek and at GTLC.&#160;Other revenue increased $7.0 million, or 14.8%, primarily due to an increase in allocated corporate revenue, incremental revenue from our lodging properties at Okemo and Crested Butte of $2.4 million, a business interruption insurance recovery related to a closed event facility in Breckenridge and increases in ancillary revenue.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating expense (excluding reimbursed payroll costs) increased 10.8%. Labor and labor-related benefits increased 11.7%, primarily due to incremental labor expenses from Okemo, Crested Butte and the incremental managed Tahoe lodging properties that we did not manage in the prior year of $11.3 million, as well as wage increases associated with our minimum wage initiatives, which were in excess of our historical minimum wage increases. General and administrative expense increased 9.4% due to higher corporate overhead costs. Other expense increased 10.1% primarily due to incremental expenses from Okemo and Crested Butte of $6.0 million, as well as an increase in variable operating expenses associated with increases in revenue.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue from payroll cost reimbursement and the corresponding reimbursed payroll costs relate to payroll costs at managed hotel properties where we are the employer and all payroll costs are reimbursed by the owners of the properties under contractual arrangements. Since the reimbursements are made based upon the costs incurred with no added margin, the revenue and corresponding expense have no effect on our Lodging Reported EBITDA.</span></div><div><a id="sE5D6D130114A53EE9BBB227968A57ED6"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Real Estate Segment</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our Real Estate net revenue is primarily determined by the timing of closings and the mix of real estate sold in any given period. Different types of projects have different revenue and profit margins; therefore, as the real estate inventory mix changes, it can greatly impact Real Estate segment net revenue, operating expense, gain on sale of real property and Real Estate Reported EBITDA.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">52</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate segment operating results for Fiscal 2020, Fiscal 2019 and Fiscal 2018 are presented by category as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:31%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Percentage</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Increase/(Decrease)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020/2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019/2018</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Real Estate net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,847</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">712</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,988</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">580.8</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(82.1</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cost of sales (including sales commissions)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,932</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,927</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">30,146.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(99.7</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,250</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,596</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(381</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(6.2</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,568.8</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Real Estate operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">9,182</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,609</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,546</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">63.7</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">58.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of real property</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">207</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">580</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">515</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(64.3</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">12.6</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,128</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,317</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">957</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4.4</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(551.1</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal 2020</span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During Fiscal 2020, we closed on the sale of a development land parcel for $4.1 million which was recorded within Real Estate net revenue, with a corresponding cost of sale (including sales commission) of $3.9 million.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net operating expense of </span><span style="font-family:inherit;font-size:10pt;font-style:normal;font-weight:normal;">$5.3 million</span><span style="font-family:inherit;font-size:10pt;"> was primarily comprised of general and administrative costs, such as labor and labor-related benefits, professional services and allocated corporate overhead costs. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal 2019</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We closed on two land sales during the third quarter of Fiscal 2019 with third party developers at Keystone (One River Run site) and Breckenridge (East Peak 8 site) for proceeds of approximately $16.0 million, including $4.8 million associated with the sale of density for the Breckenridge property. The land parcel sales were accounted for as financing arrangements as a result of the Company&#8217;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. As a result, the estimated gain of $3.6 million associated with the East Peak 8 site and the estimated loss of $3.2 million associated with the One River Run site will be deferred until the Company no longer maintains continuing involvement. Additionally, the Company&#8217;s future obligation to repurchase finished commercial space in the two completed projects, as well as other related capital spending, will result in total estimated capital expenditures of up to approximately $9.5 million in future fiscal years.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net operating expense of </span><span style="font-family:inherit;font-size:10pt;">$5.6 million</span><span style="font-family:inherit;font-size:10pt;"> was primarily comprised of general and administrative costs, such as labor and labor-related benefits, professional services and allocated corporate overhead costs. Real Estate Reported EBITDA also included a gain on sale of real property of </span><span style="font-family:inherit;font-size:10pt;">$0.6 million</span><span style="font-family:inherit;font-size:10pt;"> for the sale of land parcels.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal 2018</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During Fiscal 2018, we closed on the sales of development land parcels for $3.5 million which were recorded within Real Estate net revenue, with a corresponding cost of sale (including sales commissions) of $3.9 million.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net operating expense included the recognition of a $5.5 million benefit (non-cash in the period) related to a legal settlement in Fiscal 2015 for which cash proceeds were received and established as a liability for estimated future remediation costs of a construction development. All known items were remediated in Fiscal 2018 and, based on continued monitoring, the Company concluded that the need for further remediation is remote. Additionally, other, net operating expense included general and administrative costs, such as labor and labor-related benefits, professional services and allocated corporate overhead costs. Real Estate Reported EBITDA also included a gain on sale of real property of </span><span style="font-family:inherit;font-size:10pt;">$0.5 million</span><span style="font-family:inherit;font-size:10pt;"> for the sale of a land parcel.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">53</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s933F6257CB185080A0DAC999C777902B"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Other Items</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to segment operating results, the following items contributed to our overall financial position and results of operations (in thousands).</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:41%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="5" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Percentage Increase/(Decrease)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020/2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019/2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(249,572</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(218,117</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(204,462</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">14.4</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.7</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(28,372</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">nm</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">nm</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,964</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(5,367</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,854</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">155.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(389.5</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(106,721</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(79,496</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(63,226</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">34.2</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">25.7</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3,230</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(2,854</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(8,966</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">13.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(68.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Provision) benefit from income taxes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(7,378</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(75,472</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61,138</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(90.2</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">223.4</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effective tax rate (provision) benefit</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(6.3</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(18.9</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">18.0</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(12.6 pts)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">36.9 pts</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Depreciation and amortization</span><span style="font-family:inherit;font-size:10pt;">. Depreciation and amortization expense for Fiscal 2020 and Fiscal 2019 increased over the applicable prior fiscal year primarily due to assets acquired in the Peak Resorts acquisition (acquired in Fiscal 2020), as well as due to assets acquired in the Falls Creek, Hotham, Triple Peaks and Stevens Pass acquisitions (each acquired in Fiscal 2019) and discretionary capital projects completed at our resorts in each fiscal year. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Asset impairments.&#160;</span><span style="font-family:inherit;font-size:10pt;">We recorded an asset impairment of approximately&#160;$28.4 million&#160;during Fiscal 2020 as a result of the effects of the COVID-19 pandemic on our Colorado resort ground transportation company, with corresponding reductions to goodwill, net of&#160;$25.7 million&#160;and intangible assets, net and property, plant and equipment, net of&#160;$2.7 million. See Notes to the Consolidated Financial Statements for additional information.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Change in fair value of contingent consideration.</span><span style="font-family:inherit;font-size:10pt;"> We recorded a gain of $3.0 million during Fiscal 2020 primarily related to the estimated Contingent Consideration payments for Fiscal 2020 and Fiscal 2021. We recorded a loss of&#160;$5.4 million&#160;during Fiscal 2019 primarily related to the estimated Contingent Consideration payment for Fiscal 2019. We recorded a gain of&#160;$1.9 million&#160;during Fiscal 2018 primarily related to a decrease in the estimated Contingent Consideration payment for Fiscal 2018. The estimated fair value of contingent consideration is based on assumptions for EBITDA of Park City in future periods, as calculated under the lease on which participating payments are determined, and was&#160;$17.8 million and $27.2 million&#160;as of July 31, 2020 and 2019, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Interest expense, net.</span><span style="font-family:inherit;font-size:10pt;"> Interest expense, net for Fiscal 2020 increased compared to Fiscal 2019 primarily due to debt obligations assumed in the Peak Resorts acquisition; borrowings under our 6.25% unsecured bond offering which was completed on May 4, 2020; incremental term loan borrowings under the Vail Holdings Credit Agreement of $335.6 million, which were used to fund the Peak Resorts acquisition in September 2019; and incremental borrowings under the revolver components of our Vail Holdings Credit Agreement and Whistler Credit Agreement, which were almost entirely drawn on during Fiscal 2020 as a precautionary measure in order to increase our cash position and financial flexibility in light of the financial market conditions resulting from the COVID-19 pandemic and were subsequently paid down, partially offset by a decrease in variable interest rates. Interest expense, net for Fiscal 2019 increased compared to Fiscal 2018 primarily due to interest expense associated with incremental term loan borrowings under the Vail Holdings Credit Agreement of $265.6 million during Fiscal 2019, which were used to fund the Stevens Pass and Triple Peaks acquisitions in August 2018 and September 2018, respectively, as well as an increase in variable interest rates.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign currency loss on intercompany loans. </span><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans for Fiscal 2020 increased compared to Fiscal 2019 and decreased for Fiscal 2019 as compared to Fiscal 2018 as a result of the Canadian dollar fluctuating relative to the U.S. dollar, and was associated with an intercompany loan from Vail Holdings, Inc. to Whistler Blackcomb in the original amount of $210.0 million that was funded, effective as of November 1, 2016, in connection with the acquisition of Whistler Blackcomb. This intercompany loan, which had an outstanding balance of approximately $137.1 million as of July 31, 2020, requires foreign currency remeasurement to Canadian dollars, the functional currency for Whistler Blackcomb. As a result, foreign currency fluctuations associated with the loan are recorded within our results of operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">(Provision) benefit from income taxes.</span><span style="font-family:inherit;font-size:10pt;"> Our effective tax rate was a (provision) benefit of (6.3%), (18.9%) and 18.0% in Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively. Our tax (provision) benefit and effective tax rate are driven primarily by (i) anticipated pre-tax book income for the full fiscal year, adjusted for items that are deductible/non-deductible for tax purposes only </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">54</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(i.e., permanent items); (ii) excess tax benefits from employee share awards and enacted tax legislation, which are both recorded as discrete items; (iii) taxable income generated by state and foreign jurisdictions that varies from the consolidated pre-tax book income, (iv) the amount of net income attributable to noncontrolling interests and (v) discrete items. The decrease in the effective tax rate provision during Fiscal 2020 compared to Fiscal 2019 was primarily due to lower full year pre-tax net income, as well as a one-time, provisional $3.8 million benefit related to NOL carryback provision of the CARES Act, partially offset by a decrease in excess tax benefits from employee share awards that were exercised (stock appreciation rights) and that vested (restricted stock awards), which are recorded within (provision) benefit from income taxes on the Company&#8217;s Consolidated Statements of Operations. The increase in the effective tax rate provision during Fiscal 2019 compared to Fiscal 2018 was primarily due to a one-time, net tax benefit of $61.0 million recorded during Fiscal 2018 as a result of U.S. federal tax reform, which became effective on January 1, 2018, as well as a reduction in excess tax benefits from employee share awards that were exercised (stock appreciation awards) and that vested (restricted stock awards), which are recorded within (provision) benefit from income taxes on the Company&#8217;s Consolidated Statements of Operations.&#160;Excess tax benefits totaled $7.9 million, $12.9 million and $71.1 million for Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Act. The Tax Act transitioned the U.S. tax system to a new territorial system and lowered the statutory federal corporate income tax rate from 35% to 21%. The reduction of the statutory federal corporate tax rate to 21% became effective on January 1, 2018. As a result of the Tax Act, we recorded a one-time, net tax benefit of $61.0 million on our Consolidated Statement of Operations during Fiscal 2018. Due to the reduction in the federal corporate tax rate, we remeasured our U.S. net deferred tax liabilities as of the effective date of the Tax Act using the reduced statutory federal corporate income tax rate. The U.S. net deferred tax liabilities remeasurement resulted in a one-time tax benefit of $67.0 million, which was recognized as a discrete item and was recorded within (provision) benefit from income taxes on our Consolidated Statement of Operations during Fiscal 2018. Also, in transitioning to the new territorial tax system, the Tax Act requires us to include certain foreign earnings of non-U.S. subsidiaries in our taxable income. Such foreign earnings were subject to a one-time transition tax at the time of enactment of the Tax Act, which was $6.0 million and was recorded during Fiscal 2018.</span></div><div><a id="sC41696CCE40556909D1E7C9FE12C9847"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reconciliation of Segment Earnings</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table reconciles net income attributable to Vail Resorts, Inc. to Total Reported EBITDA for Fiscal 2020, Fiscal 2019 and Fiscal 2018 (in thousands): </span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:53%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July&#160;31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">98,833</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">301,163</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">379,898</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10,222</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">22,330</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21,332</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">109,055</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">323,493</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">401,230</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7,378</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">75,472</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(61,138</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">116,433</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">398,965</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">340,092</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">249,572</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">218,117</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">204,462</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28,372</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Gain) loss on disposal of fixed assets and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(838</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">664</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4,620</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(2,964</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,367</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1,854</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment income and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1,305</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3,086</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1,944</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,230</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,854</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">8,966</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">106,721</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">79,496</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">63,226</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">499,221</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">702,377</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">617,568</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain Reported EBITDA</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">500,080</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">678,594</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">591,605</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging Reported EBITDA</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3,269</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28,100</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">25,006</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort Reported EBITDA</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">503,349</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">706,694</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">616,611</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate Reported EBITDA</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,128</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4,317</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">957</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">499,221</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">702,377</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">617,568</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">55</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table reconciles long-term debt, net to Net Debt (defined as long-term debt, net plus long-term debt due within one year less cash and cash equivalents) (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:67%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,387,122</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,527,744</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt due within one year</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">63,677</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">48,516</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,450,799</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,576,260</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: cash and cash equivalents</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">390,980</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">108,850</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net Debt</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,059,819</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,467,410</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div><a id="s0F942816C01A5F4F968F805CBCE4C8C5"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Liquidity and Capital Resources</span></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Changes in significant sources and uses of cash for Fiscal 2020, Fiscal 2019 and Fiscal 2018 are presented by categories as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net cash provided by operating activities</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">394,950</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">634,231</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">548,486</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net cash used in investing activities</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(492,739</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(596,034</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(134,579</span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net cash provided by (used in) financing activities</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">376,233</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(99,558</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(350,715</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Historically, we have lower cash available at the end of each first and fourth fiscal quarter-end as compared to our second and third fiscal quarter-ends, primarily due to the seasonality of our Mountain segment operations, although our available cash balance as of July 31, 2020 is higher than our historical July 31 balance as a result of proceeds reflected in the net cash provided by financing activities for fiscal 2020 from the Notes offering, as discussed further below.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal 2020 compared to Fiscal 2019</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We generated </span><span style="font-family:inherit;font-size:10pt;">$395.0 million</span><span style="font-family:inherit;font-size:10pt;"> of cash from operating activities during Fiscal 2020, a decrease of $239.3 million when compared to </span><span style="font-family:inherit;font-size:10pt;">$634.2 million</span><span style="font-family:inherit;font-size:10pt;"> of cash generated during Fiscal 2019. The decrease in operating cash flows was primarily a result of decreased Mountain and Lodging segment operating results in Fiscal 2020, primarily due to the Resort Closures; a decrease in accounts payable and accrued liabilities due to declines associated with the Resort Closures (excluding accounts payable and accrued liabilities assumed through acquisitions) and an increase in cash interest payments of approximately $17.5 million primarily associated with debt assumed in the Peak Resorts acquisition and incremental term loan and revolver borrowings under our Vail Holdings Credit Agreement. These decreases were partially offset by increased North American pass product sales and receivable collections for the 2019/2020 North American ski season as compared to the prior year and a decrease in estimated tax payments of $23.1 million. Additionally we generated approximately $4.4 million of proceeds from real estate development land parcel sales in Fiscal 2020 compared to $0.1 million in proceeds from real estate development project closings that occurred in the prior year.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash used in investing activities for Fiscal 2020 decreased by $103.3 million, primarily due to cash payments of $327.6 million, net of cash acquired, related to the acquisition of Peak Resorts during Fiscal 2020, as compared to cash payments of $419.0 million, net of cash acquired, related to the acquisitions of Triple Peaks, Stevens Pass, Falls Creek and Hotham during Fiscal 2019. Additionally, capital expenditures decreased by $19.7 million primarily as a result of actions associated with the deferral of discretionary capital projects related to the Company&#8217;s decision to prioritize near-term liquidity.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash provided by financing activities increased by $475.8 million during Fiscal 2020 compared to Fiscal 2019, primarily due to (i) the $600.0 million issuance of the Notes in Fiscal 2020; (ii) an increase in proceeds from incremental borrowings under the term loan portion of our Vail Holdings Credit Agreement from $265.5 million during Fiscal 2019, which were used to fund the Triple Peaks and Stevens Pass acquisitions, to $335.6 million during Fiscal 2020, which were used to fund the Peak Resorts acquisition; (iii) an increase in net borrowings under the revolver component of our Whistler Credit Agreement of $24.1 million, primarily relating to funds which were drawn as a precautionary measure in order to increase our cash position and financial flexibility in light of the financial market conditions resulting from the COVID-19 pandemic; (iv) a decrease in repurchases of common stock of $38.6 million; and (v) a decrease in dividend payments of $47.8 million associated with the Company&#8217;s decision to prioritize near-term liquidity. These increases in cash provided by financing activities were partially offset by (i) an increase in net payments on borrowings under the revolver component of our Vail Holdings Credit Agreement of $286.0 million; (ii) an </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">56</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increase in financing cost payments of $8.8 million, primarily associated with the issuance of the Notes; and (iii) a payment for contingent consideration with regard to our lease for Park City.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal 2019 compared to Fiscal 2018</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We generated&#160;</span><span style="font-family:inherit;font-size:10pt;">$634.2 million</span><span style="font-family:inherit;font-size:10pt;">&#160;of cash from operating activities during Fiscal 2019, an increase of </span><span style="font-family:inherit;font-size:10pt;">$85.7 million</span><span style="font-family:inherit;font-size:10pt;"> when compared to&#160;</span><span style="font-family:inherit;font-size:10pt;">$548.5 million</span><span style="font-family:inherit;font-size:10pt;">&#160;of cash generated during Fiscal 2018. The increase in operating cash flows was primarily a result of improved Mountain segment operating results&#160;in Fiscal 2019, including operating benefits from the acquisitions of Triple Peaks, Stevens Pass, Falls Creek and Hotham, as compared to Fiscal 2018. Additionally, the increase in operating cash flows was a result of an increase in accounts payable. These increases were partially offset by an increase in cash interest payments during Fiscal 2019 primarily associated with incremental term loan borrowings under our Vail Holdings Credit Agreement and an increase in estimated foreign tax payments. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash used in investing activities for Fiscal 2019&#160;increased by $461.5 million, primarily due to cash payments of $419.0 million, net of cash acquired, related to the acquisitions of Triple Peaks, Stevens Pass, Falls Creek and Hotham during Fiscal 2019 as well as an increase in capital expenditures of $51.4 million during Fiscal 2019 compared to Fiscal 2018.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash used in financing activities decreased $251.2 million during Fiscal 2019 compared to Fiscal 2018, primarily due to proceeds from incremental borrowings under the term loan portion of our Vail Holdings Credit Agreement of $265.6 million during Fiscal 2019, which was used to fund the Triple Peaks and Stevens Pass acquisitions. In addition, cash used in financing activities benefited from (i) a reduction of $76.8 million for employee taxes related to exercises of share awards, (ii) a reduction of $26.9 million in net payments on borrowings under our Whistler Credit Agreement and (iii) $11.2 million of proceeds related to real estate sales transactions completed during Fiscal 2019, that are reflected as financing arrangements. These decreases in cash used in financing activities were partially offset by an increase in repurchases of common stock of $59.2 million, an increase in dividends paid of $56.4 million and payments for commitments in conjunction with the Canyons transaction of $9.5 million.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Significant Sources of Cash</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We had </span><span style="font-family:inherit;font-size:10pt;">$391.0 million</span><span style="font-family:inherit;font-size:10pt;"> of cash and cash equivalents as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, compared to </span><span style="font-family:inherit;font-size:10pt;">$108.9 million</span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2019</span><span style="font-family:inherit;font-size:10pt;">. We generated </span><span style="font-family:inherit;font-size:10pt;">$395.0 million</span><span style="font-family:inherit;font-size:10pt;"> of cash from operating activities during Fiscal 2020 compared to </span><span style="font-family:inherit;font-size:10pt;">$634.2 million</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">$548.5 million</span><span style="font-family:inherit;font-size:10pt;"> generated during Fiscal 2019 and Fiscal 2018, respectively, with the decrease in Fiscal 2020 primarily resulting from operational impacts of the COVID-19 pandemic, including the Resort Closures. Although we cannot predict the future impact associated with the COVID-19 pandemic on our business, we currently anticipate that our Mountain and Lodging segment operating results will continue to provide a significant source of future operating cash flows (primarily generated in our second and third fiscal quarters).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to our </span><span style="font-family:inherit;font-size:10pt;">$391.0 million</span><span style="font-family:inherit;font-size:10pt;"> of cash and cash equivalents at July&#160;31, 2020, we had </span><span style="font-family:inherit;font-size:10pt;">$418.8 million</span><span style="font-family:inherit;font-size:10pt;"> available under the revolver component of our Vail Holdings Credit Agreement as of July 31, 2020 (which represents the total commitment of </span><span style="font-family:inherit;font-size:10pt;">$500.0 million</span><span style="font-family:inherit;font-size:10pt;"> less certain letters of credit outstanding of </span><span style="font-family:inherit;font-size:10pt;">$81.2 million</span><span style="font-family:inherit;font-size:10pt;">).&#160;Also, to further support the liquidity needs of Whistler Blackcomb, we had C</span><span style="font-family:inherit;font-size:10pt;">$221.1 million</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;">$165.1 million</span><span style="font-family:inherit;font-size:10pt;">) available under the revolver component of our Whistler Credit Agreement (which represents the total commitment of C</span><span style="font-family:inherit;font-size:10pt;">$300.0 million</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;">$224.0 million</span><span style="font-family:inherit;font-size:10pt;">) less outstanding borrowings of C</span><span style="font-family:inherit;font-size:10pt;">$78.0 million</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;">$58.2 million</span><span style="font-family:inherit;font-size:10pt;">) and a letter of credit outstanding of C</span><span style="font-family:inherit;font-size:10pt;">$0.9 million</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;">$0.7 million</span><span style="font-family:inherit;font-size:10pt;">)). We believe that our liquidity needs in the near term will be met by our existing cash and cash equivalents, availability under our credit agreements and the expected positive cash flow from operating activities of our Mountain and Lodging segments less resort capital expenditures, which we expect will provide us with sufficient liquidity to fund our operations through at least the 2021/2022 ski season, even in the event of extended resort shutdowns. The Vail Holdings Credit Agreement and the Whistler Credit Agreement provide adequate flexibility and are priced favorably with any new borrowings currently priced at LIBOR plus 2.5% and Bankers Acceptance Rate plus 1.75%, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Significant Uses of Cash</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Capital Expenditures</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have historically invested significant amounts of cash in capital expenditures for our resort operations, and we expect to continue to do so, subject to operating performance particularly as it relates to discretionary projects. On April 1, 2020, we announced that we would be reducing our capital plan for calendar 2020 as compared to our previously issued guidance by approximately $80 million to $85 million, with the vast majority of these savings coming from the deferral of many of our discretionary capital projects. We are planning to defer all new chair lifts, terrain expansions and other mountain base area improvements, while continuing the vast majority of our maintenance capital spending. Accordingly we now anticipate that we will spend approximately $125 million to $130 million on resort capital expenditures during calendar year 2020. In addition, we may incur capital expenditures for retained ownership interests associated with third-party real estate development projects. Normal discretionary capital expenditures primarily include investments that will allow us to maintain our high-quality standards, as well </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">57</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">as certain incremental discretionary improvements at our Resorts, throughout our owned hotels, and in technology that can impact the full network.&#160;We evaluate additional discretionary capital improvements based on an expected level of return on investment. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Approximately </span><span style="font-family:inherit;font-size:10pt;">$51 million</span><span style="font-family:inherit;font-size:10pt;"> was spent for capital expenditures in calendar year 2020 as of July 31, 2020, leaving approximately $74 million to $79 million to spend in the remainder of calendar year 2020. We currently plan to utilize cash on hand, borrowings available under our credit agreements and/or cash flow generated from future operations to provide the cash necessary to complete our capital plans.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pursuant to the Third Amendment and discussed further below, we are prohibited, during the Financial Covenants Temporary Waiver Period, from making capital expenditures in excess of $200.0 million per twelve-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs, or ordinary course maintenance repairs.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Acquisition of Peak Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 23, 2019, we entered into an amendment to our Vail Holdings Credit Agreement in which we incurred additional term loans of approximately $335.6 million, and we utilized the proceeds to fund the acquisition of 100% of the outstanding stock of&#160;Peak Resorts on September 24, 2019 at a purchase price of&#160;$11.00&#160;per share or approximately $264.5 million, and to prepay certain portions of Peak Resorts&#8217; outstanding debt and lease obligations that were required to be repaid in order to complete the transaction.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Debt</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of July 31, 2020, principal payments on the majority of our long-term debt (</span><span style="font-family:inherit;font-size:10pt;">$2.1 billion</span><span style="font-family:inherit;font-size:10pt;"> of the total </span><span style="font-family:inherit;font-size:10pt;">$2.4 billion</span><span style="font-family:inherit;font-size:10pt;"> debt outstanding as of July&#160;31, 2020) are not due until fiscal year 2025 and beyond.&#160;As of July&#160;31, 2020 and 2019, total long-term debt, net (including long-term debt due within one year) was </span><span style="font-family:inherit;font-size:10pt;">$2,450.8 million</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">$1,576.3 million</span><span style="font-family:inherit;font-size:10pt;">, respectively. Net Debt (defined as long-term debt, net plus long-term debt due within one year less cash and cash equivalents) increased from </span><span style="font-family:inherit;font-size:10pt;">$1,467.4 million</span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2019 to </span><span style="font-family:inherit;font-size:10pt;">$2,059.8 million</span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020, primarily as a result of $335.6 million in incremental term loans, as discussed above, resulting from the September 23, 2019 amendment of our Vail Holdings Credit Agreement and the assumption of certain debt obligations of Peak Resorts, which have maturities ranging from 2021 through 2036 and were recorded at their estimated fair values of approximately $184.7 million. See Notes to the Consolidated Financial Statements for additional information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 28, 2020, through a wholly-owned subsidiary, we entered into the Third Amendment. Pursuant to the Third Amendment, among other terms, we are exempt from complying with the Vail Holdings Credit Agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for the Financial Covenants Temporary Waiver Period, after which we will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by us). After the Financial Covenants Temporary Waiver Period:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter after the expiration of the Financial Covenants Temporary Waiver Period as follows:</span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(A) first full fiscal quarter: 6.25 to 1.00;</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(B) second full fiscal quarter: 5.75 to 1.00;</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(C) third full fiscal quarter: 5.25 to 1.00; and</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:36px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, we are required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under our Vail Holdings Credit Agreement revolver) of not less than $150.0 million, during the period that began on July 31, 2020 and ending on the date we deliver a compliance certificate for the Company and its subsidiaries&#8217; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.</span></div><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We are also prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the lenders under the Vail Holdings Credit Agreement):</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least $400.0 million, and the aggregate amount </span></div></td></tr></table><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">58</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-left:24px;padding-top:8px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter;</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making capital expenditures in excess of $200.0 million per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least $300.0 million;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making investments in non-subsidiaries in excess of $50.0 million in the aggregate; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:6px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bears interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) $2.25 billion and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Vail Holdings Credit Agreement). </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On May 4, 2020, we completed our offering of $600 million aggregate principal amount of 6.25% senior notes due 2025 at par (the &#8220;Notes&#8221;). The Notes are unsecured senior obligations of the Company and are guaranteed by certain of our domestic subsidiaries. A portion of the net proceeds was utilized to pay down the outstanding balance of the revolver component of our Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining proceeds intended to be used for general corporate purposes. We will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#8220;Indenture&#8221;) plus accrued and unpaid interest. Prior to May 15, 2022, we may redeem some or all of the Notes at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, plus a &#8220;make-whole&#8221; premium as specified in the Indenture. In addition, prior to May 15, 2022, we may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest. The Notes rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors of the Notes to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#8217;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Vail Holdings Credit Agreement provides for (i) a revolving loan facility in an aggregate principal amount of $500.0 million and (ii) a term loan facility of $1.25 billion. We expect that our liquidity needs in the near term will be met by continued use of operating cash flows and borrowings under the Notes, the Vail Holdings Credit Agreement and the Whistler Credit Agreement.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">59</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our debt service requirements can be impacted by changing interest rates as we had approximately </span><span style="font-family:inherit;font-size:10pt;">$0.9 billion</span><span style="font-family:inherit;font-size:10pt;"> of net variable-rate debt outstanding as of July&#160;31, 2020, after consideration of $400.0 million in interest rate swaps which convert variable-rate debt to fixed-rate debt. A 100-basis point change in LIBOR would cause our annual interest payments on our net variable-rate debt to change by approximately </span><span style="font-family:inherit;font-size:10pt;">$9.1 million</span><span style="font-family:inherit;font-size:10pt;">. Additionally, the annual payments associated with the financing of the Canyons transaction increase by the greater of CPI less 1%, or 2%. The fluctuation in our debt service requirements, in addition to interest rate and inflation changes, may be impacted by future borrowings under our credit agreements or other alternative financing arrangements we may enter into. Our long term liquidity needs depend upon operating results that impact the borrowing capacity under our credit agreements, which can be mitigated by adjustments to capital expenditures, the flexibility of investment activities and the ability to obtain favorable future financing. We can respond to liquidity impacts of changes in the business and economic environment, including the COVID-19 pandemic, by managing our capital expenditures, variable operating expenses, the timing of new real estate development activity and the payment of cash dividends on our common stock.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Share Repurchase Program</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our share repurchase program is conducted under authorizations made from time to time by our Board of Directors. On March 6, 2006, our Board of Directors initially authorized the repurchase of up to 3,000,000 shares of Vail Resorts common stock (&#8220;Vail Shares&#8221;) and later authorized additional repurchases of up to 3,000,000 additional Vail Shares (July 16, 2008) and 1,500,000 Vail Shares (December 4, 2015), for a total authorization to repurchase shares of up to 7,500,000 Vail Shares. During Fiscal 2020, we repurchased </span><span style="font-family:inherit;font-size:10pt;">256,418</span><span style="font-family:inherit;font-size:10pt;"> Vail shares at a cost of </span><span style="font-family:inherit;font-size:10pt;">$46.4 million</span><span style="font-family:inherit;font-size:10pt;">. Since the inception of this stock repurchase program through&#160;July 31, 2020, we have repurchased </span><span style="font-family:inherit;font-size:10pt;">6,161,141</span><span style="font-family:inherit;font-size:10pt;"> Vail Shares at a cost of approximately </span><span style="font-family:inherit;font-size:10pt;">$404.4 million</span><span style="font-family:inherit;font-size:10pt;">. As of July 31, 2020, </span><span style="font-family:inherit;font-size:10pt;">1,338,859</span><span style="font-family:inherit;font-size:10pt;"> Vail Shares remained available to repurchase under the existing repurchase authorization. Pursuant to the Third Amendment and as discussed above, we are prohibited from repurchasing shares of common stock during the Financial Covenants Temporary Waiver Period unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least $400.0 million, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for the issuance of shares under the Company&#8217;s share award plan. Repurchases under the program may be made from time to time at prevailing prices as permitted by applicable laws, and subject to market conditions and other factors. The timing, as well as the number of Vail Shares that may be repurchased under the program, will depend on several factors, including our future financial performance, our available cash resources and competing uses for cash that may arise in the future, the restrictions in our Vail Holdings Credit Agreement, prevailing prices of Vail Shares and the number of Vail Shares that become available for sale at prices that we believe are attractive. The share repurchase program has no expiration date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Dividend Payments</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We announced on April 1, 2020 that we would be suspending the declaration of our quarterly dividend for at least the next two quarters in response to the impacts of the COVID-19 pandemic. Subsequently, pursuant to the Third Amendment and as discussed above, we are prohibited from paying any dividends during the Financial Covenants Temporary Waiver Period unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least $400.0 million, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed $38.2 million in any fiscal quarter. For the year ended&#160;July 31, 2020, we paid cash dividends of&#160;</span><span style="font-family:inherit;font-size:10pt;">$5.28</span><span style="font-family:inherit;font-size:10pt;">&#160;per share (</span><span style="font-family:inherit;font-size:10pt;">$212.7 million</span><span style="font-family:inherit;font-size:10pt;">&#160;in the aggregate). These dividends were funded through available cash on hand and borrowings under the revolving portion of our Vail Holdings Credit Agreement. The amount, if any, of the dividends to be paid in the future will depend on our available cash on hand, anticipated cash needs, overall financial condition, restrictions contained in our Vail Holdings Credit Agreement, future prospects for earnings and cash flows, as well as other factors considered relevant by our Board of Directors.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">60</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Covenants and Limitations</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We must abide by certain restrictive financial covenants under our credit agreements. The most restrictive of those covenants include the following covenants: for the Vail Holdings Credit Agreement, Net Funded Debt to Adjusted EBITDA ratio and the Interest Coverage ratio (each as defined in the Vail Holdings Credit Agreement); for the Whistler Credit Agreement, Consolidated Total Leverage Ratio and Consolidated Interest Coverage Ratio (each as defined in the Whistler Credit Agreement); and for the EPR Secured Notes, Maximum Leverage Ratio and Consolidated Fixed Charge Ratio (each as defined in the EPR Agreements). In addition, our financing arrangements limit our ability to make certain restricted payments, pay dividends on or redeem or repurchase stock, make certain investments, make certain affiliate transfers and may limit our ability to enter into certain mergers, consolidations or sales of assets and incur certain indebtedness. Our borrowing availability under the Vail Holdings Credit Agreement is primarily determined by the Net Funded Debt to Adjusted EBITDA ratio, which is based on our segment operating performance, as defined in the Vail Holdings Credit Agreement. Our borrowing availability under the Whistler Credit Agreement is primarily determined based on the commitment size of the credit facility and our compliance with the terms of the Whistler Credit Agreement.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pursuant to the Third Amendment and as discussed above in further detail, we are exempt from complying with the restrictive covenants of the Vail Holdings Credit Agreement during the Financial Covenants Temporary Waiver Period, but are required to comply with a monthly minimum liquidity test during such period.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We were in compliance with all restrictive financial covenants in our debt instruments as of July&#160;31, 2020. We expect that we will continue to meet all applicable financial maintenance covenants in effect in our credit agreements throughout the year ending July&#160;31, 2021. However, there can be no assurance that we will continue to meet such financial covenants. If such covenants are not met, we would be required to seek a waiver or amendment from the banks participating in our credit agreements. There can be no assurance that such waiver or amendment would be granted, which could have a material adverse impact on our liquidity.</span></div><div><a id="s53E7084834415A508A75F08659390C2F"></a></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contractual Obligations</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As part of our ongoing operations, we enter into arrangements that obligate us to make future payments under contracts such as debt agreements, lease agreements and construction agreements in conjunction with our resort capital expenditures. Debt obligations, which totaled </span><span style="font-family:inherit;font-size:10pt;">$2.4 billion</span><span style="font-family:inherit;font-size:10pt;"> as of July&#160;31, 2020, are recognized as liabilities in our Consolidated Balance Sheet. Obligations under construction contracts are not recognized as liabilities in our Consolidated Balance Sheet until services and/or goods are received which is in accordance with GAAP. A summary of our contractual obligations as of July&#160;31, 2020 is presented below (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.90243902439025%;border-collapse:collapse;text-align:left;"><tr><td colspan="20"></td></tr><tr><td style="width:35%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Payments Due by Period</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2-3</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">4-5</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">More&#160;than</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contractual Obligations</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2021</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">years</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">years</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">5 years</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-Term Debt (Outstanding Principal) </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,444,248</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">69,827</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">178,935</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,675,916</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">519,570</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Fixed Rate Interest </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">414,370</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">56,517</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">112,736</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">108,268</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">136,849</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons Obligation </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,577,790</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">28,827</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">59,395</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61,795</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,427,773</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating Leases and Service Contracts </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">363,283</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">68,419</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">90,527</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">66,836</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">137,501</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Purchase Obligations and Other </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(4)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">440,387</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">336,666</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">87,069</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">432</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">16,220</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Contractual Cash Obligations</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5,240,078</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">560,256</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">528,662</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1,913,247</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2,237,913</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1)&#160;&#160;&#160;&#160;The fixed-rate interest payments (including payments that are required under interest rate swaps that we have entered into) as well as long-term debt payments, included in the table above, assume that all debt outstanding as of July&#160;31, 2020 will be held to maturity. Interest payments associated with variable-rate debt have not been included in the table. Assuming that our approximately $0.9 billion of variable-rate long-term debt as of July&#160;31, 2020 is held to maturity and utilizing interest rates in effect at July&#160;31, 2020, our annual interest payments (including commitment fees and letter of credit fees) on variable rate long-term debt as of July&#160;31, 2020 is anticipated to be approximately $24.4 million for Fiscal 2021, approximately $22.7 million for Fiscal 2022 and approximately $14.9 million for at least each of the next three years subsequent to Fiscal 2022. The future annual interest obligations noted herein are estimated only in relation to debt outstanding as of July&#160;31, 2020 and do not reflect interest obligations on potential future debt. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Included in Long-Term Debt (Outstanding Principal) are $11.2 million of proceeds resulting from real estate transactions accounted for as a financing arrangements. Fiscal 2021 payments shown above include approximately </span><span style="font-family:inherit;font-size:10pt;">$6.2 million</span><span style="font-family:inherit;font-size:10pt;"> of proceeds, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">61</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">result of the anticipated resolution of continuing involvement, with no associated cash outflow (see Notes to Consolidated Financial Statements for additional information).</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(2)&#160;&#160;&#160;&#160;Reflects principal and interest expense payments associated with the remaining lease term of the Canyons obligation, initially 50 years, assuming a 2% per annum (floor) increase in payments. Any potential increases to the annual fixed payment above the 2% floor due to inflation linked index of CPI less 1% have been excluded. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3)&#160;&#160;&#160;&#160;The payments under noncancelable operating leases included in the table above reflect the applicable minimum lease payments and exclude any potential contingent rent payments.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(4)&#160;&#160;&#160;&#160;Purchase obligations and other primarily include amounts which are classified as trade payables (</span><span style="font-family:inherit;font-size:10pt;">$59.7 million</span><span style="font-family:inherit;font-size:10pt;">), accrued payroll and benefits (</span><span style="font-family:inherit;font-size:10pt;">$69.3 million</span><span style="font-family:inherit;font-size:10pt;">), accrued fees and assessments ($26.1 million), contingent consideration liability ($17.8 million), and accrued taxes (including taxes for uncertain tax positions) ($117.2 million) on our Consolidated Balance Sheet as of July&#160;31, 2020; and, other commitments for goods and services not yet received, including construction contracts and minimum commitments under season pass alliance agreements, not included on our Consolidated Balance Sheet as of July&#160;31, 2020 in accordance with GAAP.</span></div><div><a id="s5473502665585F278574B38F4DAFA994"></a></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Off Balance Sheet Arrangements</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We do not have off balance sheet transactions that are expected to have a material effect on our financial condition, revenue, expenses, results of operations, liquidity, capital expenditures or capital resources.</span></div><div><a id="sECD93E84DFF4530D83D0B6F671375EE6"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Critical Accounting Policies</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of Consolidated Financial Statements in conformity with GAAP requires us to select appropriate accounting policies and to make judgments and estimates affecting the application of those accounting policies. In applying our accounting policies, different business conditions or the use of different assumptions may result in materially different amounts reported in the Consolidated Financial Statements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have identified the most critical accounting policies which were determined by considering accounting policies that involve the most complex or subjective decisions or assessments. We also have other policies considered key accounting policies; however, these policies do not meet the definition of critical accounting policies because they do not generally require us to make estimates or judgments that are complex or subjective. We have reviewed these critical accounting policies and related disclosures with our Audit Committee of the Board of Directors.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Goodwill and Intangible Assets</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The carrying value of goodwill and indefinite-lived intangible assets are evaluated for possible impairment on an annual basis or between annual tests if an event occurs or circumstances change that would more likely than not reduce the estimated fair value of a reporting unit or indefinite-lived intangible asset below its carrying value. Other intangible assets are evaluated for impairment only when there is evidence that events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable. </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">62</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Judgments and Uncertainties</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Application of the goodwill and indefinite-lived intangible asset impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units, assignment of goodwill to reporting units and determination of the estimated fair value of reporting units and indefinite-lived intangible assets. We perform a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset may be more likely than not less than carrying amount, or if significant changes to macro-economic factors related to the reporting unit or intangible asset have occurred that could materially impact fair value, a quantitative impairment test would be required, in which we would determine the estimated fair value of our reporting units using a discounted cash flow analysis and determine the estimated fair value of indefinite-lived intangible assets primarily using the income approach based upon estimated future revenue streams. These analyses require significant judgments, including estimation of future cash flows, which is dependent on internal forecasts, available industry/market data (to the extent available), estimation of the long-term rate of growth for our business including expectations and assumptions regarding the impact of general economic conditions on our business, estimation of the useful life over which cash flows will occur (including terminal multiples), determination of the respective weighted average cost of capital and market participant assumptions. Changes in these estimates and assumptions could materially affect the determination of estimated fair value and impairment for each reporting unit or indefinite-lived intangible asset. We evaluate our reporting units on an annual basis and allocate goodwill to our reporting units based on the reporting units expected to benefit from the acquisition generating the goodwill.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Effect if Actual Results Differ From Assumptions</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill and indefinite-lived intangible assets are tested for impairment at least annually as of May&#160;1. As a result of the coronavirus (COVID-19) pandemic and the impact it has had on our operations during Fiscal 2020, and the expected continuing impact of the pandemic on future operations, we determined that it was appropriate to test certain assets within our Colorado resort ground transportation company for impairment. Our testing for goodwill and indefinite-lived intangible asset impairment consists of a comparison of the estimated fair value of those assets with their net carrying values. If the net carrying value of the assets exceed their estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess; otherwise, no impairment loss is recognized. We recorded an impairment of approximately $28.4 million related to our Colorado resort ground transportation company during Fiscal 2020, which was recorded within asset impairments on our Consolidated Statement of Operations, with corresponding reductions to goodwill, net of $25.7 million and to intangible assets, net and property, plant and equipment, net of $2.7 million. See Notes to Consolidated Financial Statements for additional information. As of July 31, 2020, we determined that no other impairment of goodwill or indefinite-lived intangible assets existed.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions and factors. As a result, there can be no assurance that the estimates and assumptions made for purposes of the annual goodwill impairment test will prove to be an accurate prediction of the future. Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of our reporting units may include such items as: (1)&#160;prolonged adverse weather conditions resulting in a sustained decline in guest visitation; (2) a prolonged weakness in the general economic conditions in which guest visitation and spending is adversely impacted (particularly with regard to the ongoing COVID-19 pandemic); and (3)&#160;volatility in the equity and debt markets which could result in a higher discount rate.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">While historical performance and current expectations have resulted in estimated fair values of our reporting units in excess of carrying values (with the exception of our Colorado resort ground transportation company, as discussed above), if our assumptions are not realized, it is possible that an additional impairment charge may need to be recorded in the future. However, it is not possible at this time to determine if an impairment charge would result or if such a charge would be material. As of July 31, 2020, we had </span><span style="font-family:inherit;font-size:10pt;">$1,709.0 million</span><span style="font-family:inherit;font-size:10pt;"> of goodwill and </span><span style="font-family:inherit;font-size:10pt;">$247.0 million</span><span style="font-family:inherit;font-size:10pt;"> of indefinite-lived intangible assets recorded on our Consolidated Balance Sheet. There can be no assurance that the estimates and assumptions made for purposes of the annual goodwill impairment tests for goodwill will prove to be an accurate prediction of the future.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">63</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Tax Contingencies</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We must make certain estimates and judgments in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of tax credits and deductions and in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes, as well as the interest and penalties relating to uncertain tax positions. The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations, including those enacted under the Tax Act. We recognize liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires us to estimate and measure the largest tax benefit that is cumulatively greater than 50% likely of being realized upon ultimate settlement. It is inherently difficult and subjective to estimate such amounts, as this requires us to determine the probability of various possible outcomes. This evaluation is based on factors including, but not limited to, changes in facts or circumstances, changes in tax law, interpretation of tax law, effectively settled issues under audit and new audit activity. A significant amount of time may pass before a particular matter, for which we may have established a reserve, is audited and fully resolved.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Judgments and Uncertainties</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The estimates of our tax contingencies reserve contain uncertainty because management must use judgment to estimate the potential exposure associated with our various filing positions.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Effect if Actual Results Differ From Assumptions</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We believe the estimates and judgments discussed herein are reasonable and we have adequate reserves for our tax contingencies for uncertain tax positions. Our reserves for uncertain tax positions, including any income tax related interest and penalties ($76.5 million as of July 31, 2020), relate to the treatment of the Canyons obligation lease payments as payments of debt obligations and that the tax basis in Canyons goodwill is deductible. Actual results could differ and we may be exposed to increases or decreases in those reserves and tax provisions that could be material.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">An unfavorable tax settlement could require the use of cash and could possibly result in increased tax expense and effective tax rate and/or adjustments to our deferred tax assets and deferred tax liabilities in the year of resolution. A favorable tax settlement could possibly result in a reduction in our tax expense, effective tax rate, income taxes payable, other long-term liabilities and/or adjustments to our deferred tax assets and deferred tax liabilities in the year of settlement or in future years.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Depreciable Lives of Assets</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain and lodging operational assets, furniture and fixtures, computer equipment, software, vehicles and leasehold improvements are primarily depreciated using the straight-line method over the estimated useful life of the asset. Assets may become obsolete or require replacement before the end of their useful life in which the remaining book value would be written-off or we could incur costs to remove or dispose of assets no longer in use.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Judgments and Uncertainties</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The estimates of our useful lives of the assets contain uncertainty because management must use judgment to estimate the useful life of the asset.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Effect if Actual Results Differ From Assumptions</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Although we believe the estimates and judgments discussed herein are reasonable, actual results could differ, and we may be exposed to increased expense related to depreciable assets disposed of, removed or taken out of service prior to its originally estimated useful life, which may be material. A 10% decrease in the estimated useful lives of depreciable assets would have increased depreciation expense by approximately </span><span style="font-family:inherit;font-size:10pt;">$24.9 million</span><span style="font-family:inherit;font-size:10pt;"> for Fiscal 2020.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">64</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Business Combinations</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A component of our growth strategy has been to acquire and integrate businesses that complement our existing operations. We account for business combinations in accordance with the guidance for business combinations and related literature. Accordingly, we allocate the purchase price of acquired businesses to the identifiable tangible and intangible assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. The difference between the purchase price and the estimated fair value of the net assets acquired or the excess of the aggregate estimated fair values of assets acquired and liabilities assumed is recorded as goodwill. In determining the estimated fair values of assets acquired and liabilities assumed in a business combination, we use various recognized valuation methods including present value modeling and referenced market values (where available). Valuations are performed by management or independent valuation specialists under management&#8217;s supervision, where appropriate. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Judgments and Uncertainties</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounting for business combinations requires our management to make significant estimates and assumptions, especially at the acquisition date, including our estimates for intangible assets, contractual obligations assumed and contingent consideration, where applicable. Although we believe the assumptions and estimates we have made in the past have been reasonable and appropriate, they are based in part on historical experience and information obtained from the management of the acquired companies and are inherently uncertain. Examples of critical estimates in valuing certain of the intangible assets we have acquired include but are not limited to determination of weighted average cost of capital, market participant assumptions, royalty rates, terminal multiples and estimates of future cash flows to be generated by the acquired assets. In addition to the estimates and assumptions applied to valuing intangible assets acquired, the determination of the estimated fair value of contingent consideration, including estimating the likelihood and timing of achieving the relevant thresholds for contingent consideration payments, requires the use of subjective judgments. We estimate the fair value of the Park City contingent consideration payments using an option pricing valuation model which incorporates, among other factors, projected achievement of specified financial performance measures, discounts rates and volatility for the respective business. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Effect if Actual Results Differ From Assumptions</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We believe that the estimated fair values assigned to the assets acquired and liabilities assumed are based on reasonable assumptions that a marketplace participant would use. While we use our best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the estimated fair values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded in our Consolidated Statements of Operations. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We recognize the fair value of contingent consideration at the date of acquisition as part of the consideration transferred to acquire a business. The liability associated with contingent consideration is remeasured to fair value at each reporting period subsequent to the date of acquisition taking into consideration changes in financial projections and long-term growth rates, among other factors, that may impact the timing and amount of contingent consideration payments until the term of the agreement has expired or the contingency is resolved. Increases in the fair value of contingent consideration are recorded as losses in our Consolidated Statements of Operations, while decreases in fair value are recorded as gains. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">New Accounting Standards</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Refer to the Summary of Significant Accounting Policies within the Notes to Consolidated Financial Statements for a discussion of new accounting standards.</span></div><div><a id="s88ACF66FAC37585DAEE844F1626328B5"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Inflation</span></div><div style="line-height:120%;padding-bottom:13px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Although we cannot accurately determine the precise effect of inflation on our operations, management does not believe inflation has had a material effect on the results of operations in the last three fiscal years. When the costs of operating resorts increase, we generally have been able to pass the increase on to our customers. However, there can be no assurance that increases in labor and other operating costs due to inflation will not have an impact on our future profitability.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In May 2013, we entered into a long-term lease pursuant to which we assumed the operations of Canyons which includes the ski terrain and related amenities. The lease has an initial term of 50 years with six 50-year renewal options. The lease provides for $25.0 million in annual payments, which increase each year by an inflation linked index of CPI less 1%, with a floor of 2% per </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">65</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">annum. As lease payments increase annually, there can be no assurance that these increases will be offset by increased cash flow generated from operations at Park City.</span></div><div><a id="s258E6258115E52D9A0ECCD8B8FDCC721"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Seasonality and Quarterly Results</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our mountain and lodging operations are seasonal in nature. In particular, revenue and profits for our North America mountain and most of our lodging operations are substantially lower and historically result in losses from late spring to late fall. Conversely, peak operating seasons for our NPS concessionaire properties, our mountain resort golf courses and our Australian resorts&#8217; ski season generally occur during the North American summer months while the North American winter months result in operating losses. Revenue and profits generated by NPS concessionaire properties summer operations, golf operations and Australian resorts&#8217; ski operations are not sufficient to fully offset our off-season losses from our North American mountain and other lodging operations. During Fiscal 2020, there were several interruptions to our normal North American and Australian ski seasons as a result of the COVID-19 pandemic, which resulted in early resort closures. During Fiscal 2020, approximately 83% of total combined Mountain and Lodging segment net revenue (excluding Lodging segment revenue associated with reimbursement of payroll costs) was earned during the second and third fiscal quarters. Therefore, the operating results for any three-month period are not necessarily indicative of the results that may be achieved for any subsequent quarter or for a full year (see Notes to Consolidated Financial Statements). </span></div><div><a id="s11BA6669026D55C2BFC7F3DC00DE8A31"></a></div><div style="line-height:120%;padding-top:24px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM&#160;7A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Interest Rate Risk.</span><span style="font-family:inherit;font-size:10pt;"> Our exposure to market risk is limited primarily to the fluctuating interest rates associated with variable rate indebtedness. At July&#160;31, 2020, we had approximately $0.9 billion of net variable rate indebtedness (after taking into consideration $400.0 million in interest rate swaps which converts variable-rate debt to fixed-rate debt), representing approximately 37% of our total debt outstanding, at an average interest rate during Fiscal 2020 of approximately </span><span style="font-family:inherit;font-size:10pt;">3.8%</span><span style="font-family:inherit;font-size:10pt;">. Based on variable-rate borrowings outstanding as of July&#160;31, 2020, a 100-basis point (or 1.0%) change in LIBOR would result in our annual interest payments on our net variable-rate debt changing by $9.1 million. Our market risk exposure fluctuates based on changes in underlying interest rates.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2020, we entered into interest rate swap agreements to fix the interest rate on a portion of our Vail Holdings Credit Agreement, which has the effect of fixing the underlying floating interest rate component of </span><span style="font-family:inherit;font-size:10pt;">$400.0 million</span><span style="font-family:inherit;font-size:10pt;"> of the principal amount outstanding at an effective rate of 1.46%.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Exchange Rate Risk. </span><span style="font-family:inherit;font-size:10pt;">We are exposed to currency translation risk because the results of our international entities are reported in local currency, which we then translate to U.S. dollars for inclusion in our Consolidated Financial Statements. As a result, changes between the foreign exchange rates, in particular the Canadian dollar and Australian dollar compared to the U.S. dollar, affect the amounts we record for our foreign assets, liabilities, revenues and expenses, and could have a negative effect on our financial results. Additionally, we have foreign currency transaction exposure from an intercompany loan to Whistler Blackcomb that is not deemed to be permanently invested, which has and could materially change due to fluctuations in the Canadian dollar exchange rate. The results of Whistler Blackcomb and our Australian ski areas are reported in Canadian dollars and Australian dollars respectively, which we then translate to U.S. dollars for inclusion in our Consolidated Financial Statements. We do not currently enter into hedging arrangements to minimize the impact of foreign currency fluctuations on our operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table summarizes the amounts of foreign currency translation adjustments, net of tax, representing losses and foreign currency loss on intercompany loans recognized in comprehensive income (in thousands):</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:53%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency translation adjustments, net of tax</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(9,075</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(34,287</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(61,957</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(3,230</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(2,854</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(8,966</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">66</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s9D102D56579550179BDC2DD856BBF14A"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><table cellpadding="0" cellspacing="0" style="padding-top:24px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 8.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidated Financial Statements for the Years Ended July&#160;31, 2020, 2019 and 2018</span></div><div style="line-height:120%;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:83%;"></td><td style="width:17%;"></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-style:italic;text-decoration:underline;" href="#s8FA6EE66C70E5B2E9C00BFB8ECDCF449"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-style:italic;text-decoration:underline;">Management&#8217;s Report on Internal Control Over Financial Reporting</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s8FA6EE66C70E5B2E9C00BFB8ECDCF449">68</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-style:italic;text-decoration:underline;" href="#sB8EE69CADC825416AEC65399EB858B77"><span style="font-family:inherit;font-size:10pt;color:#0000ff;font-style:italic;text-decoration:underline;">Report of Independent Registered Public Accounting Firm</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sB8EE69CADC825416AEC65399EB858B77">69</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidated Financial Statements</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA75E6BCFE17F5B85AC25F95C9D6024AF"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Consolidated Balance Sheets</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA75E6BCFE17F5B85AC25F95C9D6024AF">72</a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s44A267A9DE5354C6A171CE174540ED99"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Consolidated Statements of Operations</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s44A267A9DE5354C6A171CE174540ED99">73</a></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sDD74204151625F2682BCB6EDE4E88FBE"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Consolidated Statements of Comprehensive Income</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sDD74204151625F2682BCB6EDE4E88FBE">74</a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s657399C35B9D5689B707720128521279"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Consolidated Statements of Stockholders&#8217; Equity</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s657399C35B9D5689B707720128521279">75</a></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sBA727C199FB153E1B09F7D729DEF02B6"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Consolidated Statements of Cash Flows</span></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sBA727C199FB153E1B09F7D729DEF02B6">76</a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s8766E9CE0FE159358D9A1F923235B816"><span style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Notes to Consolidated Financial Statements</span></a></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s8766E9CE0FE159358D9A1F923235B816">77</a></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">67</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s8FA6EE66C70E5B2E9C00BFB8ECDCF449"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Management&#8217;s Report on Internal Control over Financial Reporting</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Management of Vail Resorts, Inc. (the &#8220;Company&#8221;) is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Securities Exchange Act of 1934. The Company&#8217;s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in the United States of America.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of the effectiveness of internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Management, including the Company&#8217;s Chief Executive Officer and Chief Financial Officer, assessed the effectiveness of the Company&#8217;s internal control over financial reporting as of July&#160;31, 2020. In making this assessment, management used the criteria established in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Internal Control-Integrated Framework </span><span style="font-family:inherit;font-size:10pt;">issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. Based on this assessment, management concluded that, as of July&#160;31, 2020, the Company&#8217;s internal control over financial reporting was effective. Management&#8217;s evaluation and conclusion on the effectiveness of internal control over financial reporting as of July 31, 2020 excluded certain elements of internal controls of Peak Resorts (acquired in September 2019) due to the timing of this acquisition.&#160;Those elements of the acquired resorts&#8217; internal controls over financial reporting that have been excluded represent less than 1%&#160;of total consolidated assets and approximately 8% of total consolidated net revenues&#160;of the Company as of and for the year ended July 31, 2020.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s independent registered public accounting firm, PricewaterhouseCoopers LLP, has issued an attestation report on the effectiveness of the Company&#8217;s internal control over financial reporting as of July&#160;31, 2020, as stated in the Report of Independent Registered Public Accounting Firm on the following page.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">68</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sB8EE69CADC825416AEC65399EB858B77"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Report of Independent Registered Public Accounting Firm</span></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><span style="font-family:inherit;font-size:11pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">To</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">the</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">Board of Directors and Stockholders</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">of Vail Resorts, Inc.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Opinions on the Financial Statements and Internal Control over Financial Reporting</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have audited the accompanying consolidated balance sheets of Vail Resorts, Inc.</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">and its subsidiaries</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">(the &#8220;Company&#8221;) as of July 31, 2020</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">and 2019,</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">and the related consolidated statements of operations, of comprehensive income, of stockholders&#8217; equity and of cash flows for each of the three years in the period ended July 31, 2020, including the related notes (collectively referred to as the &#8220;consolidated financial statements&#8221;).</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">We also have audited the Company's internal control over financial reporting as of July 31, 2020, based on criteria established in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Internal Control - Integrated Framework</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">(2013)</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).  </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In our opinion, the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements referred to above present fairly, in all material respects, the financial position of the Company as of July 31, 2020</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">and 2019</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;">, </span><span style="font-family:inherit;font-size:10pt;">and the results of its</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">operations and its</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">cash flows for each of the three years in the period ended July 31, 2020</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of July 31, 2020, based on criteria established in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Internal Control - Integrated Framework</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">(2013)</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">issued by the COSO.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Change in Accounting Principle</span></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As discussed in Note 2 to the consolidated financial statements, the Company changed the manner in which it accounts for leases as of August 1, 2019.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis for Opinions</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">Management&#8217;s Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on the Company&#8217;s consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.  </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Our audits of the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements included performing procedures to assess the risks of material misstatement of the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As described in</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">Management&#8217;s</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">Report on Internal Control over Financial Reporting, management has excluded certain elements of the internal control over financial reporting of Peak Resorts</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">from its assessment of internal control over financial reporting as of July 31, 2020</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">because it was acquired by the Company in a purchase business combination during September 2019. Subsequent to the acquisition, certain elements of Peak Resorts&#8217; internal control over financial reporting and related processes were integrated into the Company&#8217;s existing systems and internal control over financial reporting. Those controls that were not integrated have been excluded from management&#8217;s assessment of the effectiveness of internal control over financial reporting as of July 31, 2020. We have also excluded these elements of internal control over financial reporting of Peak Resorts</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">from our audit of the Company&#8217;s internal control over financial reporting. The excluded elements represent controls of less than 1% of consolidated assets and approximately 8% of consolidated net revenues. </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">69</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Definition and Limitations of Internal Control over Financial Reporting</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that (i)&#160;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii)&#160;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii)&#160;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Critical Audit Matters</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (i) relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement of the Contingent Consideration </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As described in Note</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">10</span><span style="font-family:inherit;font-size:10pt;color:#ff0000;"> </span><span style="font-family:inherit;font-size:10pt;">to the consolidated</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><span style="font-family:inherit;font-size:10pt;">financial statements, the Company has established a liability of $17.8 million as of July 31, 2020 for additional amounts that management believes are likely to be paid to the previous owner of Park City (the &#8220;Contingent Consideration&#8221;). The Company remeasures the Contingent Consideration to fair value at each reporting date until the contingency is resolved. The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. Fair value is estimated using an option pricing valuation model. As described by management, key assumptions in determining the fair value under this model included Park City EBITDA for the year ending July 31, 2022, an assumed long- term growth rate, discount rate and volatility.</span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The principal considerations for our determination that performing procedures relating to the fair value measurement of the Contingent Consideration is a critical audit matter are (i) the significant judgment by management when developing the fair value measurement, which in turn led to a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating audit evidence related to management&#8217;s significant assumptions for the Park City EBITDA for the year ending July 31, 2022, assumed long-term growth rate, discount rate, and volatility; and (ii) the audit effort involved the use of professionals with specialized skill and knowledge. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management&#8217;s fair value measurement of the Contingent Consideration including controls over the Company&#8217;s significant assumptions. The procedures also included, among others, testing management&#8217;s process for developing the fair value measurement and evaluating the significant assumptions used by management, related to the Park City EBITDA for the year ending July 31, 2022, assumed long-term growth rate, discount rate, and volatility. Evaluating management&#8217;s assumptions related to the Park City EBITDA for the year ending July 31, 2022, assumed long-term growth rate, discount rate, and volatility involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past EBITDA performance of Park City; (ii) the impact of the COVID-19 pandemic on the future EBITDA performance of Park City; (iii) the consistency with external market data; and (iv) whether these assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company&#8217;s discount rate and volatility assumptions.  </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">70</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Acquisition of Peak Resorts - Valuation of Acquired Depreciable Property, Plant, and Equipment </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As described in Note 7 to the consolidated financial statements, the Company completed the acquisition of Peak Resorts, Inc. during the year ended July 31, 2020 resulting in the recognition of an aggregate amount of approximately $427.8 million related to property, plant, and equipment. A substantial portion of the property, plant, and equipment acquired related to depreciable property, plant, and equipment (&#8220;Acquired Depreciable PPE&#8221;).  The process of estimating the fair value of the Acquired Depreciable PPE includes the use of certain estimates and assumptions related to the determination of replacement cost. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The principal considerations for our determination that performing procedures relating to the valuation of the Acquired Depreciable PPE from the Peak Resorts acquisition is a critical audit matter are (i) the high degree of auditor subjectivity and effort in performing procedures over management&#8217;s valuation of the Acquired Depreciable PPE including the significant assumptions related to the replacement cost; and (ii) the audit effort involved the use of professionals with specialized skill and knowledge. </span></div><div style="line-height:120%;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the acquisition accounting, including controls over management&#8217;s significant assumptions and data used in the valuation of the Acquired Depreciable PPE. These procedures also included, among others, (i) testing management&#8217;s process for estimating the fair value of Acquired Depreciable PPE; (ii) testing the completeness and accuracy of the underlying data used to estimate the fair value of the Acquired Depreciable PPE; and (iii) evaluating management&#8217;s replacement cost assumptions used to estimate the fair value of the Acquired Depreciable PPE.  Professionals with specialized skill and knowledge were used to assist in the evaluation of the Company&#8217;s valuation method and the Company&#8217;s replacement cost assumptions, including evaluating whether the assumptions used by management were reasonable considering consistency with external market and industry data.   </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ PricewaterhouseCoopers LLP</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Denver, Colorado</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">September 24, 2020</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We have served as the Company&#8217;s auditor since 2002.</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt"> </sup>&#160;</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">71</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sA75E6BCFE17F5B85AC25F95C9D6024AF"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Consolidated Balance Sheets</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(In thousands, except per share amounts)</span></div><div style="line-height:120%;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Assets</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e847-wk-Fact-3F6D74607DF21AF4CA9D5D5D9109D5D3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">390,980</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e861-wk-Fact-4D9A3240F62BFA7A51665D5D90FCE295" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">108,850</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Restricted cash</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e876-wk-Fact-570152A80CB3000C448F5D5D9103A7C4" name="us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">11,106</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e890-wk-Fact-DE4FDF50E4D071D4053C5D5D9108F0A7" name="us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,539</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts receivable, net of allowances of $2,484 and $724, respectively</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e910-wk-Fact-0B6BDE490137B351FD035D5D9105D63B" name="us-gaap:AccountsReceivableNetCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">106,664</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e924-wk-Fact-44DEEF8B5D776A1977C65D5D90FEFD9D" name="us-gaap:AccountsReceivableNetCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,896</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Inventories, net of reserves of $4,447 and $2,031, respectively</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e944-wk-Fact-52F8ECFEFD6E6111EBDD5D5D911674C2" name="us-gaap:InventoryNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">101,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e958-wk-Fact-29DF96CDD5228C863FFA5D5D9103BC63" name="us-gaap:InventoryNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">96,539</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other current assets</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e978-wk-Fact-F9161DB10CBF58C1A8FA5D5D911B5566" name="us-gaap:OtherAssetsCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">54,482</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e992-wk-Fact-931C622732E058977FE95D5D90FF6B44" name="us-gaap:OtherAssetsCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,116</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total current assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1012-wk-Fact-01A0BF61A89A3757774F5D5D90F969C7" name="us-gaap:AssetsCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">665,088</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1026-wk-Fact-4B6DA37B9CBA1BEFD4F15D5D91049233" name="us-gaap:AssetsCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">527,940</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net (Note 8)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1046-wk-Fact-64306ED28AA8F0789DF35D5D910EC878" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,192,679</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1060-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,842,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1081-wk-Fact-9A3BF23642834B18253F5D5D90FF91CC" name="us-gaap:InventoryRealEstate" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">96,844</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1095-wk-Fact-9B1AA3C0CB1932F35B315D5D9117C8EE" name="us-gaap:InventoryRealEstate" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">101,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill, net (Note 8)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1115-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7" name="us-gaap:Goodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,709,020</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1129-wk-Fact-1E5757440BA1793761D05D5D912357D0" name="us-gaap:Goodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,608,206</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets, net (Note 8)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1149-wk-Fact-DD377BD21F5F9451264D5D5D910C0E19" name="us-gaap:IntangibleAssetsNetExcludingGoodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">314,776</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1163-wk-Fact-6DCAF9E78621DF09FADF5D5D91223F2A" name="us-gaap:IntangibleAssetsNetExcludingGoodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">306,173</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating right-of-use assets (Note 4)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1183-wk-Fact-845E94B5ED82536275737F59A6EF5230" name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">225,744</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1197-wk-Fact-51BB3F4FA78E03B7C4B97F59A6F5D6C3" name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred charges and other assets</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1217-wk-Fact-2818BEE8CA97EB6F94FC5D5D9113C425" name="us-gaap:OtherAssetsNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">40,081</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1231-wk-Fact-22004EE3601B98B1C3A35D5D910991A8" name="us-gaap:OtherAssetsNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">40,237</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total assets</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1256-wk-Fact-3B997E1C4B38E77A68C15D5D9106BE5C" name="us-gaap:Assets" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,244,232</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1270-wk-Fact-563F9A09E751C53C2CE85D5D911F51B0" name="us-gaap:Assets" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,426,077</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Liabilities and Stockholders&#8217; Equity</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts payable and accrued liabilities (Note 8)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1362-wk-Fact-AF4796D5942D1A3842C55D5D91118234" name="mtn:AccountsPayableAccruedLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">499,108</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1376-wk-Fact-7C83BC5D9511B39DFBFD5D5D911281E8" name="mtn:AccountsPayableAccruedLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">607,857</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income taxes payable</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1391-wk-Fact-D6A8D659EA95289436BE5D5D911A07E3" name="us-gaap:AccruedIncomeTaxesCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">40,680</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1405-wk-Fact-EEE8D87E4C569868CA4B5D5D90FCA09B" name="us-gaap:AccruedIncomeTaxesCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">62,760</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt due within one year (Note 6)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1425-wk-Fact-19546FE03ED45D90D3325D5D910EC5FC" name="us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,677</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1439-wk-Fact-DDBA9FF69F8B26EFA8B55D5D90FA727F" name="us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">48,516</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total current liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1460-wk-Fact-A9FEA4A1859EF57093B05D5D9105E4C5" name="us-gaap:LiabilitiesCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">603,465</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1474-wk-Fact-CA948DC06FEAADCE28055D5D9108137F" name="us-gaap:LiabilitiesCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">719,133</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net (Note 6)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1494-wk-Fact-19E57F102F0CFDD234555D5D91226C1B" name="us-gaap:LongTermDebtAndCapitalLeaseObligations" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,387,122</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1508-wk-Fact-8E48AFFEAFA2C496425D5D5D90FD45DD" name="us-gaap:LongTermDebtAndCapitalLeaseObligations" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,527,744</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities (Note 4)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1528-wk-Fact-6C7321B517FC5CDF0C1D7F5A23B662DE" name="us-gaap:OperatingLeaseLiabilityNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">217,542</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1542-wk-Fact-606667C3BA14EBBB99DE7F5A23B0F184" name="us-gaap:OperatingLeaseLiabilityNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other long-term liabilities (Note 8)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1562-wk-Fact-BA4612E83261F608F56D5D5D91080945" name="mtn:OtherLongTermLiabilitiesNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,245</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1576-wk-Fact-6AEC794DB971BD159FF35D5D9100CC2A" name="mtn:OtherLongTermLiabilitiesNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">283,601</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net (Note 11)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1596-wk-Fact-114304C0B2E26A31E5DF5D5D90FBA196" name="us-gaap:DeferredIncomeTaxLiabilitiesNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">234,191</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1610-wk-Fact-E1319DA49E4F72A375295D5D910AA429" name="us-gaap:DeferredIncomeTaxLiabilitiesNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">168,759</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1630-wk-Fact-21E0401361E5F25578085D5D910C10C4" name="us-gaap:Liabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,712,565</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1644-wk-Fact-B2DC32157DEB1249916E5D5D90FEC9FB" name="us-gaap:Liabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,699,237</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commitments and contingencies (Note 13)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1664-wk-Fact-C93C700AA5203C154E1C5D5D910073FB" name="us-gaap:CommitmentsAndContingencies" contextRef="FI2020Q4" unitRef="usd" xsi:nil="true" scale="0" format="ixt:nocontent"></ix:nonFraction></span><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1677-wk-Fact-0B98445783167E48FA8A5D5D91021F2E" name="us-gaap:CommitmentsAndContingencies" contextRef="FI2019Q4" unitRef="usd" xsi:nil="true" scale="0" format="ixt:nocontent"></ix:nonFraction></span><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stockholders&#8217; equity:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1732-wk-Fact-3FA1604994273EA87E285D5D911058BF" name="us-gaap:PreferredStockValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1746-wk-Fact-EBEC740C7E8043894D875D5D9111BEBE" name="us-gaap:PreferredStockValue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Common stock, $0.01 par value, 100,000 shares authorized and 46,350 and 46,190 shares issued, respectively</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1766-wk-Fact-024636271A54432E83E05D5D90F9B149" name="us-gaap:CommonStockValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">464</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1780-wk-Fact-30932C3B7B82DF487C285D5D91181435" name="us-gaap:CommonStockValue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">461</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exchangeable shares, $0.01 par value, 36 and 56 shares issued and outstanding, respectively (Note 5)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1800-wk-Fact-C4B4D0B27A52FC6F16B95D5D91120A08" name="mtn:ExchangeableSharesValueIssued" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1814-wk-Fact-BFBFA67D1228A86779B45D5D90FF598A" name="mtn:ExchangeableSharesValueIssued" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additional paid-in capital</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1835-wk-Fact-D9F60916AA09C0D1DBBB5D5D90FCF07F" name="us-gaap:AdditionalPaidInCapitalCommonStock" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,131,624</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1849-wk-Fact-89434B80AD52F29EEB5F5D5D9123D148" name="us-gaap:AdditionalPaidInCapitalCommonStock" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,130,083</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated other comprehensive loss</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5417888e1869-wk-Fact-9A3D5ADE8CB75B13DE6C5D5D90FA22F7" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">56,837</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5417888e1884-wk-Fact-5DADF15668BF6E5DF9935D5D91141C45" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">31,730</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retained earnings</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1905-wk-Fact-DF38F747B7D8E2F835055D5D91139BFB" name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">645,902</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1919-wk-Fact-2378D72F8BE1158EF5905D5D910CFBCA" name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">759,801</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Treasury stock, at cost; 6,161 and 5,905 shares, respectively (Note 16)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5417888e1939-wk-Fact-65AEAFDEDEB96153DD4D5D5D9116EE90" name="us-gaap:TreasuryStockValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">404,411</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5417888e1954-wk-Fact-F861C69B64ED1A91B53E5D5D9120860C" name="us-gaap:TreasuryStockValue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">357,989</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Vail Resorts, Inc. stockholders&#8217; equity</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1975-wk-Fact-E2B799DC7D8F59EFE5175D5D9108B92E" name="us-gaap:StockholdersEquity" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,316,742</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e1989-wk-Fact-25C9681397B06D3E710E5D5D90FBDD23" name="us-gaap:StockholdersEquity" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,500,627</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2009-wk-Fact-7E930BC96365F4863D7A5D5D9109FD40" name="us-gaap:MinorityInterest" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">214,925</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2023-wk-Fact-179FFA122BA7BD20586C5D5D910A0F9D" name="us-gaap:MinorityInterest" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">226,213</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total stockholders&#8217; equity</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2043-wk-Fact-28FF05C3DCB3166D07675D5D911E8F8F" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,531,667</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2057-wk-Fact-963BFD0A3D164F5B7A405D5D910F0086" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,726,840</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total liabilities and stockholders&#8217; equity</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2082-wk-Fact-4371FBC3D59588BC88B35D5D911D10B2" name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,244,232</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5417888e2096-wk-Fact-443B4BFEAD3E43BDA7715D5D910E3541" name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,426,077</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying Notes are an integral part of these Consolidated Financial Statements.</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">72</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s44A267A9DE5354C6A171CE174540ED99"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Consolidated Statements of Operations</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(In thousands, except per share amounts)</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain and Lodging services and other</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e856-wk-Fact-76F4ACE7E1828C63F7CD5D5D90D1A4BF" name="mtn:MountainandLodgingservicesandotherrevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,578,463</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e870-wk-Fact-EF971618635C73161E815D5D918A5F43" name="mtn:MountainandLodgingservicesandotherrevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,807,930</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e884-wk-Fact-0729FA34283BF612F9EA5D5D90D1A905" name="mtn:MountainandLodgingservicesandotherrevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,584,310</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain and Lodging retail and dining</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e899-wk-Fact-A05A2586D17D4927C87B5D5D91BD131F" name="mtn:MountainandLodgingretailanddiningrevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">380,394</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e913-wk-Fact-D1DCBE01077CE284D2FE5D5D91AF80A3" name="mtn:MountainandLodgingretailanddiningrevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">462,933</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e927-wk-Fact-F01C84565DE9879D50105D5D918E5BD1" name="mtn:MountainandLodgingretailanddiningrevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">423,255</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e947-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE" name="mtn:ResortRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,958,857</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e961-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B" name="mtn:ResortRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,270,863</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e975-wk-Fact-20C24236F537BF44B0EE5D5D918422F6" name="mtn:ResortRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,007,565</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e995-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C" name="mtn:RealEstateRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,847</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1009-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D" name="mtn:RealEstateRevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">712</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1023-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08" name="mtn:RealEstateRevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,988</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1043-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F" name="us-gaap:Revenues" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,963,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1057-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC" name="us-gaap:Revenues" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,271,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1071-wk-Fact-13BF56D36D16097543555D5D919C600C" name="us-gaap:Revenues" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,011,553</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating expense (exclusive of depreciation and amortization shown separately below):</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain and Lodging operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1142-wk-Fact-E8400279C8B877004B015D5D90E20D59" name="mtn:MountainandLodgingoperatingexpenses" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,019,437</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1156-wk-Fact-C2D742A3A93AD30ECC3A5D5D90D33583" name="mtn:MountainandLodgingoperatingexpenses" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,101,670</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1170-wk-Fact-43EE4808148929D8B40D5D5D90ED2BF0" name="mtn:MountainandLodgingoperatingexpenses" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">966,566</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain and Lodging retail and dining cost of products sold</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1190-wk-Fact-791E0FC7446B8CF8B33F5D5D917B5F6B" name="mtn:MountainandLodgingcostofproductssold" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">159,066</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1204-wk-Fact-D1E5D9DAE6AB9CFA66A35D5D90D8BB18" name="mtn:MountainandLodgingcostofproductssold" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">190,044</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1218-wk-Fact-A9BAEBED638AC2904EAD5D5D90D3C6F9" name="mtn:MountainandLodgingcostofproductssold" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">174,105</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">General and administrative</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1239-wk-Fact-FE9DBF4CDEC7E48D12595D5D91BCB593" name="mtn:MountainandLodginggeneralandadministrativeexpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">278,695</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1253-wk-Fact-A4F570159E021FAF11A75D5D90D50FD0" name="mtn:MountainandLodginggeneralandadministrativeexpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">274,415</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1267-wk-Fact-4B472591336A327326A95D5D91B9504C" name="mtn:MountainandLodginggeneralandadministrativeexpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">251,806</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1287-wk-Fact-74E86C455965E566624C5D5D90D238CA" name="mtn:ResortExpensesNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,457,198</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1301-wk-Fact-8FC429A8B8A381D1418E5D5D91C15CCD" name="mtn:ResortExpensesNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,566,129</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1315-wk-Fact-DD0831EE75344C2AE9C25D5D91BD5E0D" name="mtn:ResortExpensesNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,392,477</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1335-wk-Fact-F1C84D4F112C138963A35D5D91A7F945" name="mtn:RealEstateExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,182</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1349-wk-Fact-7EAF9AB568E8FEE3E2C17F5EC6B52B61" name="mtn:RealEstateExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,609</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1363-wk-Fact-229EB45CEE10278BAF565D5D91B1D2BC" name="mtn:RealEstateExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,546</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total segment operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1383-wk-Fact-63195EA80CC4D450729B5D5D91B7AE2C" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,466,380</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1397-wk-Fact-57CA93843081BEFFB1475D5D91BB8B40" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,571,738</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1411-wk-Fact-21B037E5F06E214615495D5D90DCC13F" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,396,023</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other operating (expense) income:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1482-wk-Fact-F4485E3233F0941E09F85D5D918BA840" name="us-gaap:DepreciationAndAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">249,572</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1497-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1" name="us-gaap:DepreciationAndAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">218,117</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1512-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E" name="us-gaap:DepreciationAndAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,462</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of real property</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1533-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">207</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1547-wk-Fact-051891509C1C988E4A3D5D5D91B3953E" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">580</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1561-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">515</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments (Notes 2 &amp; 8)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1581-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,372</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1596-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9" name="us-gaap:AssetImpairmentCharges" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1610-wk-Fact-FF6806CC8358D78074357F5F349F727A" name="us-gaap:AssetImpairmentCharges" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration (Note 10)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1630-wk-Fact-592260D8F722569C62AF5D5D90D3F18B" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,964</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1644-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,367</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1659-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain (loss) on disposal of fixed assets and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1679-wk-Fact-0E672D5DA143D419508F5D5D91B15B97" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">838</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1693-wk-Fact-2EB6EE263D796553A5F35D5D918983E7" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">664</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1708-wk-Fact-1BAF7613F6102F3967B45D5D91A43D90" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,620</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income from operations</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1729-wk-Fact-6DEB8E23CF4F112214B55D5D91B08AE7" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">223,389</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1743-wk-Fact-A64FCE6679D0CB76FAE65D5D90DD09F9" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">476,269</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1757-wk-Fact-D7C7A1B68206BC4AA00F5D5D919A1F68" name="us-gaap:OperatingIncomeLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">408,817</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1778-wk-Fact-3DCFFCC3B6808C730D295D5D918AE373" name="us-gaap:InterestExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">106,721</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1793-wk-Fact-FC772F1B7753BB9545A45D5D91B3CF46" name="us-gaap:InterestExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">79,496</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1808-wk-Fact-5261758C4F75E6A002615D5D90DDDAA1" name="us-gaap:InterestExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,226</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1829-wk-Fact-A3EFF628595036A1DFBC5D5D91B97307" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,690</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1843-wk-Fact-632AEA39C0B374BE9D495D5D90CF9E5B" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,960</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1857-wk-Fact-544889EAB6C42557F9215D5D917BEF7C" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,523</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment income and other, net </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1877-wk-Fact-B758075EEA82D3FD17B15D5D90D666ED" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,305</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1891-wk-Fact-705C7CC30FA223900A9C5D5D91B2EF40" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,086</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1905-wk-Fact-B4450D06176A074006365D5D9170158B" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,944</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans (Note 6)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1925-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">3,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1940-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e1955-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">8,966</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before (provision) benefit from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1976-wk-Fact-B3778B60CAA905DEBAE05D5D90CED58E" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">116,433</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e1990-wk-Fact-9BCBCFA1F4052CB2A2225D5D91BF0308" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">398,965</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2004-wk-Fact-0CF92A300F25E70668165D5D90D5020D" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">340,092</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Provision) benefit from income taxes (Note 11)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e2024-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,378</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e2039-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,472</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2054-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">61,138</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2074-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2088-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2102-wk-Fact-1E65FF562F222C37D6D65D5D90D68289" name="us-gaap:ProfitLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e2122-wk-Fact-4BC34695554512EEB0875D5D91B3F067" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,222</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e2137-wk-Fact-54C4B4F7BF089BB8CD265D5D919C9E8C" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,330</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5419874e2152-wk-Fact-BF6DEC6DCFDA8C0335345D5D919E7139" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,332</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2178-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2192-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2206-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Per share amounts (Note 5):</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2277-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.45</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2291-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2305-wk-Fact-E4FCB5427F5331C336895D5D918EFC6F" name="us-gaap:EarningsPerShareBasic" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">9.40</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2326-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.42</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2340-wk-Fact-769B2B2962B5367305AD5D5D91863542" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.32</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2354-wk-Fact-1F695C41E87726FFE3755D5D90CC9562" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">9.13</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash dividends declared per share</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2374-wk-Fact-AB98F0B22607C62325C95D5D917D7FB7" name="us-gaap:CommonStockDividendsPerShareDeclared" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.28</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2388-wk-Fact-39B4F8F3F019B2DFD24A5D5D918BC36E" name="us-gaap:CommonStockDividendsPerShareDeclared" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">6.46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5419874e2402-wk-Fact-C5F9B98C6032FC31E2E65D5D90CD0D91" name="us-gaap:CommonStockDividendsPerShareDeclared" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="3" scale="0" format="ixt:numdotdecimal">5.046</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying Notes are an integral part of these Consolidated Financial Statements.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">73</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sDD74204151625F2682BCB6EDE4E88FBE"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Consolidated Statements of Comprehensive Income</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(In thousands)</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:58%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e806-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e820-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e834-wk-Fact-1E65FF562F222C37D6D65D5D90D68289" name="us-gaap:ProfitLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency translation adjustments (net of tax of $0, $0 and $1,981, respectively)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e849-wk-Fact-3DB1C11483B97A2EA3CD5D5D9113A656" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">9,075</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e864-wk-Fact-E8459BA1F8F27C03A9605D5D910E8D89" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">34,287</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e879-wk-Fact-A71D8CDBE2C16397880F5D5D910EBDE7" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">61,957</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value of hedging instruments</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e900-wk-Fact-2F57283EA0675C62C4FC7F619565B644" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e915-wk-Fact-6E35FE10750D045885897F61956CA82D" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e929-wk-Fact-1369A7DF89410ACC996F7F6195777927" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Comprehensive income</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e949-wk-Fact-494B19568CAA290856A55D5D91034D94" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">77,470</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e963-wk-Fact-0A74BD5674D5253401AC5D5D910957D9" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">289,206</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e977-wk-Fact-202E99116DA1F86E4E395D5D910BAE9D" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">339,273</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Comprehensive income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e997-wk-Fact-EAE8342A62F32C0E873F5D5D9108C58C" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,744</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e1012-wk-Fact-E29BC50D05D8C48C33DF5D5D91198445" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,546</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5420432e1027-wk-Fact-623E76B7102408A362415D5D90FF9073" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,997</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Comprehensive income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e1053-wk-Fact-970A4694DCD1953966ED5D5D9108444D" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">73,726</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e1067-wk-Fact-01C612CDC5557A91FCBF5D5D9108BC39" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">271,660</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5420432e1081-wk-Fact-2EB1B40E25EDB74BD0215D5D90FFE56B" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">333,276</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying Notes are an integral part of these Consolidated Financial Statements.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">74</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s657399C35B9D5689B707720128521279"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Consolidated Statements of Stockholders&#8217; Equity</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(In thousands, except share amounts)</span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:95.03267973856208%;border-collapse:collapse;text-align:left;"><tr><td colspan="28"></td></tr><tr><td style="width:33%;"></td><td style="width:1%;"></td><td style="width:5%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:5%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:4%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:3%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:3%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:6%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:5%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Common Stock</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Additional</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Paid in</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Capital</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Other Comprehensive Income (Loss)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Retained</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Earnings</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Treasury</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Vail Resorts, Inc. Stockholders&#8217; Equity</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Noncontrolling</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Interests</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Stockholders&#8217;</span></div><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Equity</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Vail Resorts</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Exchangeable</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Balance, July 31, 2017</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1040-wk-Fact-64647AFF533E57FBF1505D5D913AFEA7" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">454</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1054-wk-Fact-C6B30A41574E7D51C76E5D5D912D7FFC" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1068-wk-Fact-D69B040CBDEB3574A9BF5D5D913E8985" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,222,510</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1083-wk-Fact-99CC57EDA29C9C45DDA85D5D91384DF2" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">44,395</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1097-wk-Fact-B12A7FAFC398E9B93EF15D5D9140B193" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">550,985</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1111-wk-Fact-39C37D847D10CC8326B95D5D912DFA50" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">247,189</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1126-wk-Fact-8355C973EF96EBE88C1C5D5D91457FC6" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,571,156</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1141-wk-Fact-716225FC4490F524CEC15D5D913C19E0" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">227,803</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1155-wk-Fact-9C77B634726E573EEF285D5D90F914D5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2017Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,798,959</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Comprehensive income:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net income</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1370-wk-Fact-4C4168C46BC1574A2CC95D5D90FBA0CB" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1398-wk-Fact-BF3A68611F5A91E555385D5D90FD1FCA" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1413-wk-Fact-6FE065E2D6243877AEE65D5D91399305" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,332</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1427-wk-Fact-1E65FF562F222C37D6D65D5D90D68289" name="us-gaap:ProfitLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Foreign currency translation adjustments, net of tax</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1489-wk-Fact-3599E7E52AB7F6F30E6A5D5D913A26AE" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">46,622</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1533-wk-Fact-AC5D9E21B36B59B3953D5D5D910E6101" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">46,622</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1549-wk-Fact-BD527CB33DBD0FC202D55D5D9136A46D" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">15,335</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1564-wk-Fact-A71D8CDBE2C16397880F5D5D910EBDE7" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">61,957</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Total comprehensive income</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1676-wk-Fact-7754830F0BC2ED4AFEE45D5D911E2EC3" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">333,276</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1691-wk-Fact-134AD03BD51B5C1748705D5D9139E840" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,997</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1705-wk-Fact-202E99116DA1F86E4E395D5D910BAE9D" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">339,273</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Stock-based compensation (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1753-wk-Fact-8BE4A5A89268D28291035D5D910F65AE" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1810-wk-Fact-92CCCBD483D7C925915F5D5D91315573" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1839-wk-Fact-0437693C7D1635F02A905D5D910B4385" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Measurement period adjustment</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1959-wk-Fact-124CDA7A0810DF19A9B27F68A7620671" name="us-gaap:GoodwillPurchaseAccountingAdjustments" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,776</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e1974-wk-Fact-372EAEA57A97588B3DF37F6A912AB4C3" name="us-gaap:GoodwillPurchaseAccountingAdjustments" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,776</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e1995-wk-Fact-73D2E1211E81C4A946AF5D5D912B1936" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">6</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2023-wk-Fact-082540CB0F61402E61425D5D9107251E" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">104,083</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2081-wk-Fact-75E89F33799EED58AED45D5D90FFF6C1" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">104,077</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2111-wk-Fact-2572BD43F86F59C5D1095D5D912B2AC5" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">104,077</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repurchases of common stock (Note 16)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2203-wk-Fact-F72DF50B1108A8355FBA5D5D91023A89" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,800</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2218-wk-Fact-84D086CB137D9A6CE5B35D5D911EF03E" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,800</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2248-wk-Fact-1EC8ED04DD4E457599DF5D5D9108EAB2" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,800</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Dividends (Note 5)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2327-wk-Fact-A41910E372255CD38ABE5D5D9144791A" name="us-gaap:DividendsCommonStock" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,161</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2356-wk-Fact-7CB5AD4193CE07E4AE6A5D5D910CD001" name="us-gaap:DividendsCommonStock" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,161</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2386-wk-Fact-E575EF4F9FA035A143A25D5D91482AD1" name="us-gaap:DividendsCommonStock" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,161</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Distributions to noncontrolling interests, net </span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2507-wk-Fact-E786CAF851F27D48975D5D5D911306FD" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,795</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2522-wk-Fact-A5ECE22F7C331922E4A95D5D916E2B40" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,795</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Balance, July 31, 2018</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2543-wk-Fact-5723616185F1EC9B7C9E5D5D913847B1" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">460</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2557-wk-Fact-B5DD503D1282F965BF495D5D90FD40CE" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2571-wk-Fact-187F618AED66D91F38785D5D91036172" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,137,467</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2585-wk-Fact-C6538D12DD4653BE927E5D5D9137D265" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,227</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2601-wk-Fact-E9ABBBBA03F8F41487A65D5D912D06BC" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">726,722</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2615-wk-Fact-427C9E4E8D18CD90F5DE5D5D9136E4C8" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">272,989</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2630-wk-Fact-7D8197F64F331B5CFD3D5D5D912C8CB6" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,589,434</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2645-wk-Fact-A0F3FCFE28B98FE521725D5D90FC7FAA" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">222,229</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2659-wk-Fact-E3F78DB7B264357F85525D5D910B056E" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,811,663</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Comprehensive income:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net income</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2879-wk-Fact-591BBAD8CF569E4F303A5D5D913CEE41" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2907-wk-Fact-66E61D75320D1487D1995D5D91396544" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2922-wk-Fact-3EA67428F8C88B9DC1B65D5D912BCA6D" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,330</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e2936-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Foreign currency translation adjustments, net of tax</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e2998-wk-Fact-1977E2082BC24A204CDE5D5D914288BB" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">29,503</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3042-wk-Fact-F994C3866957BDB1DC305D5D90F70370" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">29,503</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3058-wk-Fact-EA79EBCB055B129032FA5D5D911F71FA" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,784</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3073-wk-Fact-E8459BA1F8F27C03A9605D5D910E8D89" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">34,287</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Total comprehensive income</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3185-wk-Fact-D7ECF1EBC44E8599DA0A5D5D911E9ABB" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">271,660</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3200-wk-Fact-5025B10ED3456A81A6B15D5D9100D5B7" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,546</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3214-wk-Fact-0A74BD5674D5253401AC5D5D910957D9" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">289,206</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Stock-based compensation (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3262-wk-Fact-9E33FE4960D675E0E7075D5D90F878FA" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3319-wk-Fact-115C382E053ECCA189005D5D913C922B" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3348-wk-Fact-F6FCCE9802CB87E2BF345D5D91117FD1" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cumulative effect for adoption of revenue standard</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3425-wk-Fact-5C4941856C71240CFB007F705C45A988" name="mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">7,517</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3454-wk-Fact-83E9D2A6ED163FE46DF47F707173B1CA" name="mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">7,517</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3484-wk-Fact-9C70828B51C55944C9AD5D5D91400463" name="mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">7,517</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e3505-wk-Fact-7139BE0337171ADD37DB5D5D91360273" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3533-wk-Fact-19D6A803F2562D92DF995D5D91044920" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,240</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3591-wk-Fact-E1A1A32F3F139E177A385D5D913B7C69" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,239</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3621-wk-Fact-7A197E0424BA9721788C5D5D9142D73B" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,239</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repurchases of common stock (Note 16)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3713-wk-Fact-69C523C0D3F6609C63DB5D5D90FC4249" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">85,000</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3728-wk-Fact-52E50EC8AE000634EBE35D5D90FEA21F" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">85,000</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3758-wk-Fact-FC8016855D83F991A9435D5D911E432B" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">85,000</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Dividends (Note 5)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3837-wk-Fact-89D72ED7A2520F3980D45D5D913CF864" name="us-gaap:DividendsCommonStock" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">260,567</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3866-wk-Fact-38AA62F7135ED29B2FC55D5D9131C7F6" name="us-gaap:DividendsCommonStock" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">260,567</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e3896-wk-Fact-50D56635527C1C3C137C5D5D90F75202" name="us-gaap:DividendsCommonStock" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">260,567</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Distributions to noncontrolling interests, net </span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4017-wk-Fact-54F2FB3193D04AD5FB715D5D9105B834" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,562</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4032-wk-Fact-7F5E503765AB91121A515D5D91093E68" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,562</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Balance, July 31, 2019</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4053-wk-Fact-BD0C9023130B9943F3745D5D911A1DC0" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">461</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4067-wk-Fact-D996F1E6CBA976F627845D5D913CF32C" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4081-wk-Fact-0335105EC35184E59DBD5D5D91117668" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,130,083</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4095-wk-Fact-C75D2BD5838F30A753455D5D90FB4E40" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">31,730</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4111-wk-Fact-94F50115DC3E062303B15D5D90FCB6C8" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">759,801</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4125-wk-Fact-2C94B1A505AE9A791BE85D5D911A92FE" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">357,989</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4140-wk-Fact-82D240CF05EFDCAC0AB85D5D914F3994" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,500,627</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4155-wk-Fact-4FBE0D68DF718EC5D8F65D5D910E220E" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">226,213</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4169-wk-Fact-963BFD0A3D164F5B7A405D5D910F0086" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,726,840</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Comprehensive income:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net income</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4389-wk-Fact-56BC81396E41EFCF57F95D5D910002B7" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4417-wk-Fact-726A6F5C381FD747B33F5D5D912C5D17" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4432-wk-Fact-5A93BAB44438561EA16F5D5D911CAA99" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,222</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4446-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Foreign currency translation adjustments, net of tax</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4508-wk-Fact-E899AA03E65F229335205D5D913AC926" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,597</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4552-wk-Fact-7986C3F6FE00EDA0338F5D5D90FC8DDF" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,597</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4568-wk-Fact-DC3C47909BF6DB159C3D5D5D9119BBE0" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">6,478</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4583-wk-Fact-3DB1C11483B97A2EA3CD5D5D9113A656" name="us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">9,075</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Change in estimated fair value of hedging instruments</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4646-wk-Fact-5417BD4789C875C0D6407F715D9AD40B" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4690-wk-Fact-4B4E7DDEF4EC07D94A277F7170B1D17E" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e4720-wk-Fact-2F57283EA0675C62C4FC7F619565B644" name="us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Total comprehensive income</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4832-wk-Fact-76BC621A28203B3423FE5D5D9130C738" name="us-gaap:ComprehensiveIncomeNetOfTax" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">73,726</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4847-wk-Fact-2E764DA2FD11C25F953D5D5D913ECEF1" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,744</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4861-wk-Fact-494B19568CAA290856A55D5D91034D94" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">77,470</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Stock-based compensation (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4909-wk-Fact-E693ABA6EACAA94CCFF25D5D910B628A" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4966-wk-Fact-1EBB7C073F408DD7AF2D5D5D910ABA92" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e4995-wk-Fact-6AD88D0AD55C1CC1F7C95D5D90FA83D9" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5015-wk-Fact-6EA86F0F0E428888CBA55D5D9105063D" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5043-wk-Fact-4DEBF825772B62DABBDC5D5D91245423" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,480</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5101-wk-Fact-C3D64FE2B93A465F77CE5D5D912C9B96" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,478</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5131-wk-Fact-869F842E37AA7F48807D5D5D912EB6C9" name="us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,478</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Exchangeable share transfers</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5152-wk-Fact-6F9009D08BC640495C1E7F7207DBC1D1" name="mtn:ExchangeableSharesTransfer" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5166-wk-Fact-50870B96F1EA88C93EA87F7208165760" name="mtn:ExchangeableSharesTransfer" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repurchases of common stock (Note 16)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5359-wk-Fact-DD3C781A7809699CD0C45D5D913F92CE" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">46,422</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5374-wk-Fact-162D7B1599496E97E8FA5D5D91014518" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">46,422</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5404-wk-Fact-20C348DCF0B7344029555D5D910AB6E6" name="us-gaap:StockRepurchasedDuringPeriodValue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">46,422</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Dividends (Note 5)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5482-wk-Fact-FD69F66D79396A0874D05D5D910552E2" name="us-gaap:DividendsCommonStock" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">212,732</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5511-wk-Fact-D6F4B78D974E2288272D5D5D913A095E" name="us-gaap:DividendsCommonStock" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">212,732</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5541-wk-Fact-CCD4187CB0849B64E50F5D5D91129261" name="us-gaap:DividendsCommonStock" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">212,732</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Distributions to noncontrolling interests, net </span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5662-wk-Fact-208EBAD8686CED6A14DD5D5D91097113" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,032</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5677-wk-Fact-03C946A907BF919DF3225D5D9134C059" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,032</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Balance, July 31, 2020</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5703-wk-Fact-607A18F40142CBDED9955D5D91227383" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">464</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5717-wk-Fact-4245A5BA8CDC4F04B13F5D5D9131EF63" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5731-wk-Fact-180A3930B07D4C71F4F15D5D912C26D4" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,131,624</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5746-wk-Fact-2E0542F789E55083700E5D5D910C355A" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">56,837</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5761-wk-Fact-9672039B151CC83094E25D5D9153B979" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">645,902</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5427342e5775-wk-Fact-605AF189F1564719066B5D5D912C06DD" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">404,411</ix:nonFraction></span></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5790-wk-Fact-A5C1D95A8C279D95C8BC5D5D90FABF5F" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,316,742</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5805-wk-Fact-6BB43B788FE5D2965F195D5D9110CC3D" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">214,925</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5427342e5819-wk-Fact-28FF05C3DCB3166D07675D5D911E8F8F" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,531,667</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying Notes are an integral part of these Consolidated Financial Statements.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">75</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sBA727C199FB153E1B09F7D729DEF02B6"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Vail Resorts, Inc.</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Consolidated Statements of Cash Flows</span></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">(In thousands)</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:87.52136752136752%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cash flows from operating activities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net income</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e855-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e869-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e883-wk-Fact-1E65FF562F222C37D6D65D5D90D68289" name="us-gaap:ProfitLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Adjustments to reconcile net income to net cash provided by operating activities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e949-wk-Fact-F4485E3233F0941E09F85D5D918BA840" name="us-gaap:DepreciationAndAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">249,572</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e963-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1" name="us-gaap:DepreciationAndAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">218,117</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e977-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E" name="us-gaap:DepreciationAndAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,462</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e997-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,372</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1011-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9" name="us-gaap:AssetImpairmentCharges" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1025-wk-Fact-FF6806CC8358D78074357F5F349F727A" name="us-gaap:AssetImpairmentCharges" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cost of real estate sales</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1045-wk-Fact-5DDD257A687AA1A15E5F5D5D912D3EE0" name="mtn:RealEstateCostofSales" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,684</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1059-wk-Fact-0474ED00AF7E994DFA295D5D914CBB75" name="mtn:RealEstateCostofSales" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1073-wk-Fact-577319B939E75931C2C35D5D9164C1DD" name="mtn:RealEstateCostofSales" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,701</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1093-wk-Fact-5339FE96C09F9D845D8F5D5D91308547" name="us-gaap:ShareBasedCompensation" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1107-wk-Fact-A72CAA0FCC4E7B0AC1EB5D5D91593F4F" name="us-gaap:ShareBasedCompensation" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1121-wk-Fact-98B653CBBB56B5B39AAF5D5D91403069" name="us-gaap:ShareBasedCompensation" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1141-wk-Fact-7877822F15C46F7E87385D5D9132C8E5" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,435</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1155-wk-Fact-B7ED194DE7ACC74EC7D25D5D914FCCCB" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,419</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1169-wk-Fact-58B11254C90EA7781CDB5D5D913F22AA" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">45,770</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Canyons obligation accreted interest expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1190-wk-Fact-7C18D89B84F1714E29F85D5D915877A5" name="us-gaap:AccretionExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,773</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1204-wk-Fact-D8EC340B956E65A041285D5D912D0B75" name="us-gaap:AccretionExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,752</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1218-wk-Fact-ECEB2D64EBD8A080591E5D5D913B18F4" name="us-gaap:AccretionExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,723</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Change in fair value of contingent consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1239-wk-Fact-592260D8F722569C62AF5D5D90D3F18B" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,964</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1254-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,367</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1268-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Foreign currency loss on intercompany loans</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1289-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">3,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1303-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1317-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">8,966</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Gain on sale of real property</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1337-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">207</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1352-wk-Fact-051891509C1C988E4A3D5D5D91B3953E" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">580</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1367-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">515</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Other non-cash income, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1388-wk-Fact-2BE5E28A1038277F376E5D5D915D03A8" name="us-gaap:OtherNoncashIncome" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,674</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1403-wk-Fact-7305F3378BAE2D178AD45D5D9137F13F" name="us-gaap:OtherNoncashIncome" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,875</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1418-wk-Fact-7B6DF478412D1D5135565D5D916E9AB7" name="us-gaap:OtherNoncashIncome" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,784</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Changes in assets and liabilities, net of effects of acquisitions:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Accounts receivable, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1490-wk-Fact-A46B164465133E67769C5D5D915B0C55" name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">167,347</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1504-wk-Fact-68106DA3E79F7BF6883E5D5D91509BA1" name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">35,406</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1519-wk-Fact-185072E263FD1ACAD6B35D5D9148E25D" name="us-gaap:IncreaseDecreaseInAccountsReceivable" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">44,261</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Inventories, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1540-wk-Fact-2AF32348FB9BC9C75F605D5D9166E84E" name="us-gaap:IncreaseDecreaseInInventories" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,924</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1555-wk-Fact-2AA6BC01DBAB0A1BE03D5D5D91755135" name="us-gaap:IncreaseDecreaseInInventories" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,274</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1570-wk-Fact-7A3AABCD908878B3F4A05D5D91626CC0" name="us-gaap:IncreaseDecreaseInInventories" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">963</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Accounts payable and accrued liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1591-wk-Fact-1AAF563D015C46D4A1855D5D9174D829" name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">82,394</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1606-wk-Fact-81BBDDF972BBEC6CA8C15D5D913FCBA8" name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">23,296</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1620-wk-Fact-DAA265AE427DF162409A5D5D9140F8D5" name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,879</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Deferred revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1640-wk-Fact-5EC202FA50A03EECD6EC5D5D91379AC8" name="us-gaap:IncreaseDecreaseInDeferredRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">98,003</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1655-wk-Fact-FA116EF2CC61DD3062AE5D5D914D9528" name="us-gaap:IncreaseDecreaseInDeferredRevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">35,628</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1669-wk-Fact-CC728CA01F75854C83C65D5D9145F4B9" name="us-gaap:IncreaseDecreaseInDeferredRevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,007</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Income taxes payable - excess tax benefit from share award plans</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1689-wk-Fact-7ED76101C90364FBBE5D5D5D91536884" name="us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">8,236</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1704-wk-Fact-6D8FEF4248636E4DE1EE5D5D9167D70F" name="us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">12,932</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1719-wk-Fact-7AC24C5442920F0232685D5D9164DAE1" name="us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">71,077</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Income taxes payable - other</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1740-wk-Fact-1F909C0158B2F4DA9F655D5D9156731B" name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,951</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1755-wk-Fact-0F53F08F8A53ED34AD735D5D9172C0F3" name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">38,773</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1769-wk-Fact-1C8D8F32A5D7F470AE3D5D5D9177803E" name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">38,453</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Other assets and liabilities, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1790-wk-Fact-78C2D68B7D52EA16A40A5D5D916E37F9" name="us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,814</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1804-wk-Fact-3A223E325B10E9AE908D5D5D9163D3E2" name="us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">8,743</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1818-wk-Fact-1C596304A3BA32BCA65A5D5D915A541F" name="us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,249</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net cash provided by operating activities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1838-wk-Fact-463CE1C3EC5D36800F3D5D5D9175AD9B" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">394,950</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1852-wk-Fact-E3D2A0FF3FFF1684E8215D5D914C431D" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">634,231</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e1866-wk-Fact-D5A61F4042F4899846005D5D91426B4D" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">548,486</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cash flows from investing activities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Capital expenditures</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1937-wk-Fact-265805A8F86E1DD9646A5D5D914BB247" name="us-gaap:PaymentsToAcquireProductiveAssets" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">172,334</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1952-wk-Fact-547141393918433897A15D5D91403F4F" name="us-gaap:PaymentsToAcquireProductiveAssets" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">192,035</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1967-wk-Fact-016AC85666403ED4B9E95D5D912E0E5C" name="us-gaap:PaymentsToAcquireProductiveAssets" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">140,611</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Acquisition of businesses, net of cash acquired</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e1988-wk-Fact-010FC323C31ECA01E33A5D5D9131282D" name="us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">327,555</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2003-wk-Fact-21898F1686222D2AFB9E5D5D9133A728" name="us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">419,044</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2018-wk-Fact-635CB52F0E4BF5AAA1AA5D5D913AFA17" name="us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,356</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Other investing activities, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2039-wk-Fact-CEEA694652EABE16AA265D5D916B158E" name="us-gaap:PaymentsForProceedsFromOtherInvestingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">7,150</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2053-wk-Fact-69CDE07063AD21DABA665D5D913ABB35" name="us-gaap:PaymentsForProceedsFromOtherInvestingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">15,045</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2067-wk-Fact-16CB0564F7AD6C378A6C5D5D9177A180" name="us-gaap:PaymentsForProceedsFromOtherInvestingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">7,388</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net cash used in investing activities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2087-wk-Fact-CF4008F1A7C19FF0281B5D5D9162C37C" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">492,739</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2102-wk-Fact-BCF5FED6936C57E539BF5D5D913B58DE" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">596,034</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2117-wk-Fact-B275A9E4C859E377CCBF5D5D9157BF88" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">134,579</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cash flows from financing activities:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Proceeds from borrowings under Vail Holdings Credit Agreement</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2189-wk-Fact-D7AAB3B338117961A9F55D5D913F072B" name="us-gaap:ProceedsFromLinesOfCredit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">892,625</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2203-wk-Fact-108CC985ADD0177BDF765D5D9141C009" name="us-gaap:ProceedsFromLinesOfCredit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">543,625</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2217-wk-Fact-A545D91675B9437C284C5D5D917A551E" name="us-gaap:ProceedsFromLinesOfCredit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">225,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Proceeds from borrowings under Whistler Credit Agreement</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2237-wk-Fact-1F7E9AE2C25FE0DF71765D5D91304BDF" name="mtn:ProceedsfromWhistlerCreditAgreementrevolver" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">209,634</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2251-wk-Fact-D5D09DDB5A3D34A621865D5D91301376" name="mtn:ProceedsfromWhistlerCreditAgreementrevolver" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">26,518</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2265-wk-Fact-49DD8D04A3FE19AEBF175D5D916F50BD" name="mtn:ProceedsfromWhistlerCreditAgreementrevolver" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">46,513</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Proceeds from borrowings under 6.25% Notes</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2285-wk-Fact-7EB20C013F6024A6A4ED807420AB1CD5" name="us-gaap:ProceedsFromNotesPayable" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">600,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2299-wk-Fact-D76D0498684DA18A2E16807420B57ED2" name="us-gaap:ProceedsFromNotesPayable" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2313-wk-Fact-E4FB35CD4025D584F20A807420A5E1AD" name="us-gaap:ProceedsFromNotesPayable" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repayments of borrowings under Vail Holdings Credit Agreement</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2334-wk-Fact-6B318AE12A4759C776115D5D913C1D95" name="mtn:RepaymentsofTermLoan" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">811,875</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2349-wk-Fact-C8FC8CAEAADFA9FE5E3D5D5D914558C4" name="mtn:RepaymentsofTermLoan" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">235,625</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2364-wk-Fact-DD6DD312DEB8FC54E6345D5D9163756F" name="mtn:RepaymentsofTermLoan" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">182,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repayments of borrowings under Whistler Credit Agreement</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2385-wk-Fact-9D6FF700F53AF4FB0FE65D5D91434432" name="mtn:RepaymentsofWhistlerCreditAgreementrevolver" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,032</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2400-wk-Fact-6424850C1370C29B99105D5D91396BB9" name="mtn:RepaymentsofWhistlerCreditAgreementrevolver" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">45,060</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2415-wk-Fact-B4ED1FB897858F3B47C05D5D916DFF90" name="mtn:RepaymentsofWhistlerCreditAgreementrevolver" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">91,941</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Employee taxes paid for share award exercises</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2436-wk-Fact-CDC6EB6D70EA6816C7215D5D9142DC24" name="us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,478</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2451-wk-Fact-EEA54049BFA529A64F995D5D9171FD91" name="us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,239</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2466-wk-Fact-29CA10E90890021E51E55D5D91472D16" name="us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">104,077</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Repurchases of common stock</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2487-wk-Fact-1EB5EBD0FA3CB529389C5D5D9174B338" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">46,422</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2502-wk-Fact-AFE0F0F069D2293C71DF5D5D913288FF" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">85,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2517-wk-Fact-2B320F7E6B6390301EF25D5D91791DB6" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,800</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Dividends paid</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2538-wk-Fact-6C043DD1BF8681B570CF5D5D91538F07" name="us-gaap:PaymentsOfDividends" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">212,732</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2553-wk-Fact-31206A39E6AB22EBA9FF5D5D915DFAEE" name="us-gaap:PaymentsOfDividends" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">260,567</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2568-wk-Fact-9E346AF3EF847EE4D2785D5D9152526F" name="us-gaap:PaymentsOfDividends" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,161</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Other financing activities, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2589-wk-Fact-806E81B861888523F2275D5D913AB6E9" name="us-gaap:ProceedsFromPaymentsForOtherFinancingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">31,487</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2604-wk-Fact-BB4868E27457C7797E2B5D5D9154B614" name="us-gaap:ProceedsFromPaymentsForOtherFinancingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">16,210</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2619-wk-Fact-397F5BE6222641EB51D95D5D91441DD9" name="us-gaap:ProceedsFromPaymentsForOtherFinancingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">13,749</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net cash provided by (used in) financing activities</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2640-wk-Fact-98E7326D6C5ED5503EA65D5D9139A6AA" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">376,233</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2654-wk-Fact-1F467F04B3B2236AAD3F5D5D9148F7DA" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">99,558</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2669-wk-Fact-B9C61229C5234409AADD5D5D9149DF6D" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">350,715</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Effect of exchange rate changes on cash, cash equivalents and restricted cash</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2690-wk-Fact-2D295D7865D76765D11B5D5D912D7074" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,253</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2704-wk-Fact-0BDB72D9CF647D49448A5D5D91713BB7" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">5,290</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2719-wk-Fact-611EF7511D6B7871F04C5D5D915892F7" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">5,814</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Net increase (decrease) in cash, cash equivalents and restricted cash</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2740-wk-Fact-25E88880FB964340F0EC5D5D915E0071" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">283,697</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>(<ix:nonFraction id="d5428949e2754-wk-Fact-3D1622DFEB60292675445D5D91517719" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">66,651</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2769-wk-Fact-79F8AB5728440362B5765D5D916F8E20" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">57,378</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cash, cash equivalents and restricted cash:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Beginning of period</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2845-wk-Fact-C09A4034AA64DFD4094E5D5D9149079E" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">118,389</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2859-wk-Fact-C7F010408BB1DBED0D325D5D916B9391" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">185,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2873-wk-Fact-8D74C9E279E100D39AD85D5D915A02EE" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2017Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">127,662</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">End of period</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2894-wk-Fact-68074BF42450A0AD43375D5D914EC43C" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">402,086</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2908-wk-Fact-C09A4034AA64DFD4094E5D5D9149079E" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">118,389</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2922-wk-Fact-C7F010408BB1DBED0D325D5D916B9391" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">185,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Cash paid for interest</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2942-wk-Fact-547AFD9B0E27BCEFD7BE5D5D9142BDA0" name="us-gaap:InterestPaidNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">88,398</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2956-wk-Fact-2367B04E56886595ADF35D5D9173EBCB" name="us-gaap:InterestPaidNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">70,888</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:2px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2970-wk-Fact-9E9688B5E7558E33F7065D5D916D184F" name="us-gaap:InterestPaidNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">53,842</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Taxes paid, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e2990-wk-Fact-48A5E0DA7F35E0D0BB0C5D5D916D513D" name="us-gaap:IncomeTaxesPaid" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,134</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e3004-wk-Fact-7010FC4096F224C7FF335D5D913CFD82" name="us-gaap:IncomeTaxesPaid" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,212</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e3018-wk-Fact-4D6E1224819895A205225D5D915418FB" name="us-gaap:IncomeTaxesPaid" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,945</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Non-cash investing activities:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Accrued capital expenditures</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e3089-wk-Fact-888BB2E57F58B45163C08074692E3BB6" name="us-gaap:CapitalExpendituresIncurredButNotYetPaid" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,046</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e3103-wk-Fact-FDA9282FC924C8F30796807465F0434B" name="us-gaap:CapitalExpendituresIncurredButNotYetPaid" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,420</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span><ix:nonFraction id="d5428949e3117-wk-Fact-EB184807B6AD470141E28074692AE569" name="us-gaap:CapitalExpendituresIncurredButNotYetPaid" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,638</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The accompanying Notes are an integral part of these Consolidated Financial Statements.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">76</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s8766E9CE0FE159358D9A1F923235B816"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Notes to Consolidated Financial Statements</span><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div><a id="sC73A73F2CB555FA4A28980E485627F95"></a></div><div style="line-height:120%;padding-left:0px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;font-weight:bold;padding-right:48px;">1.</span><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" id="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-0-wk-Fact-0C229122E743512269E25D5D91B3D068" continuedAt="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-1" escape="true"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Business</span></ix:nonNumeric></div><ix:continuation id="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-1" continuedAt="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc. (&#8220;Vail Resorts&#8221;) is organized as a holding company and operates through various subsidiaries. Vail Resorts and its subsidiaries (collectively, the &#8220;Company&#8221;) operate in three business segments: Mountain, Lodging and Real Estate. The Company refers to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Mountain segment, the Company operates the following 37 destination mountain resorts and regional ski areas:</span></div><div style="line-height:120%;text-align:justify;"><img src="vrmapfy20.jpg" alt="vrmapfy20.jpg" style="height:450px;width:682px;"></img></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">*Denotes a destination mountain resort, which generally receives a meaningful portion of skier visits from long-distance travelers, as opposed to the Company&#8217;s regional ski areas, which tend to generate skier visits predominantly from their respective local markets. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations, and for the Company&#8217;s Australian ski areas, including lodging and transportation operations. Several of the resorts located in the United States (&#8220;U.S.&#8221;) operate primarily on federal land under the terms of Special Use Permits granted by the U.S. Department of Agriculture Forest Service. The operations of Whistler Blackcomb are conducted on land owned by the government of the Province of British Columbia, Canada within the traditional territory of the Squamish and Lil&#8217;wat Nations. The operations of the Company&#8217;s Australian ski areas are conducted pursuant to long-term leases and licenses on land owned by the governments of New South Wales and Victoria, Australia. Okemo, Mount Sunapee and Stowe operate on land leased from the respective states in which the resorts are located and on land owned by the Company.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Lodging segment, the Company owns and/or manages a collection of luxury hotels and condominiums under its RockResorts brand; other strategic lodging properties and a large number of condominiums located in proximity to the Company&#8217;s North American mountain resorts; National Park Service (&#8220;NPS&#8221;) concessionaire properties including the Grand Teton Lodge Company (&#8220;GTLC&#8221;), which operates destination resorts in Grand Teton National Park; a Colorado resort ground transportation company and mountain resort golf courses.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">77</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts Development Company (&#8220;VRDC&#8221;), a wholly-owned subsidiary, conducts the operations of the Company&#8217;s Real Estate segment, which owns, develops and sells real estate in and around the Company&#8217;s resort communities.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s mountain business and its lodging properties at or around the Company&#8217;s mountain resorts are seasonal in nature with peak operating seasons primarily from mid-November through mid-April in North America. The peak operating season at the Company&#8217;s Australian resorts, NPS concessionaire properties and golf courses generally occurs from June to early October.</span></div></ix:continuation><div><a id="s8FEFF7C1DE5C5AD9A8EF4E2669259EC4"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2.</span></div></td><td style="vertical-align:top;"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:SignificantAccountingPoliciesTextBlock" id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-0-wk-Fact-A0D414D079996758324B5D5D91416D69" continuedAt="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-1" escape="true"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> Summary of Significant Accounting Policies</span></div></ix:nonNumeric></td></tr></table><ix:continuation id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-1" continuedAt="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-2"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ConsolidationPolicyTextBlock" id="TextSelection-F363C09AB033C76802FA5D5D91DA9F27-0-wk-Fact-6A6125EA2216040D85585D5D9139C405" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Principles of Consolidation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The accompanying Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries for which the Company has a controlling financial interest. Investments in which the Company does not have a controlling financial interest, but has significant influence, are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock" id="TextSelection-EADA3B20BB8FDC2043485D5D91DAAFA7-0-wk-Fact-41B081958B565F1EBEC05D5D914E311D" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Cash and Cash Equivalents &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.</span></div></ix:nonNumeric><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" id="TextSelection-B0E47E3D4948ACAC53AA83CC622F9300-0-wk-Fact-A5E9791B5FED2ED9156083CCAED568CA" escape="true"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Restricted Cash &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers cash to be restricted when withdrawal or general use is legally restricted. During peak operations of the North American ski season, the Company&#8217;s restricted cash balance is primarily associated with customer reservations deposits that are required to be held in a trust pursuant to statutory requirements until such reservations are fulfilled.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:TradeAndOtherAccountsReceivablePolicy" id="TextSelection-2E37F985F2EBB35145975D5D91DB3D25-0-wk-Fact-DFAA451705A3225F341A5D5D912CA45C" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounts receivable &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:InventoryPolicyTextBlock" id="TextSelection-94683CDED89F10738CE45D5D91DB3E4A-0-wk-Fact-146E0C1C60851DCE3EA55D5D910C1BB7" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Inventories &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or net realizable value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:PropertyPlantAndEquipmentPolicyTextBlock" id="TextSelection-2970516336DA446CA4815D5D91DB580E-0-wk-Fact-744DDFBB03C5FAA113035D5D912F5F65" continuedAt="TextSelection-2970516336DA446CA4815D5D91DB580E-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant and Equipment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in income from operations. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. <ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock" id="TextSelection-A1C22B9C65C96462E5665D5D91DB87FE-0-wk-Fact-8153F98F0E598A2553F25D5D9128045D" continuedAt="TextSelection-A1C22B9C65C96462E5665D5D91DB87FE-1" escape="true">Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:</ix:nonNumeric></span></div><ix:continuation id="TextSelection-A1C22B9C65C96462E5665D5D91DB87FE-1"><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:78%;"></td><td style="width:22%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated&#160;Life</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">in Years</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10-35</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7-30</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2-30</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5430284e910-wk-Fact-A5CAB82A5D40E9AA20D95D5D910A3C89" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" contextRef="FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" format="ixt-sec:duryear">3</ix:nonNumeric></span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RealEstateHeldForDevelopmentAndSalePolicy" id="TextSelection-B4C62469F07C6EE410A25D5D91DC36DB-0-wk-Fact-73E8BE2DF9680E3F9BD55D5D911943AA" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;"><ix:continuation id="TextSelection-2970516336DA446CA4815D5D91DB580E-1"></ix:continuation>Real Estate Held for Sale and Investment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs. Sales and marketing expenses are charged against income in the period incurred. Additionally, sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. </span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DeferredChargesPolicyTextBlock" id="TextSelection-279753A6940EA546A6B85D5D91D9F4F3-0-wk-Fact-4C62C083B11F8462D4CC5D5D9141627A" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Deferred Financing Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Certain costs incurred with the issuance of debt and debt securities are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. When debt is extinguished prior to its maturity date, the amortization of the remaining unamortized deferred financing costs, or pro-rata portion thereof, is charged to loss on extinguishment of debt.</span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">78</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-2" continuedAt="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-3"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock" id="TextSelection-257C8BFCC0DEFD3D4F515D5D91DAEA86-0-wk-Fact-BDBDA7C5C7C087766A6F5D5D910F2594" continuedAt="TextSelection-257C8BFCC0DEFD3D4F515D5D91DAEA86-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill and Intangible Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company has classified as goodwill the cost in excess of estimated fair value of the net assets of businesses acquired in purchase transactions. The Company&#8217;s major intangible asset classes are trademarks, water rights, customer lists, property management contracts and Forest Service permits. Goodwill and various indefinite-lived intangible assets, including certain trademarks, water rights and certain property management contracts, are not amortized but are subject to at least annual impairment testing. The Company tests these non-amortizing assets annually (or more often, if necessary) for impairment as of May&#160;1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The testing for impairment consists of a comparison of the estimated fair value of the assets with their net carrying values. If the net carrying amount of the assets exceed its estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess. If the net carrying amount of the assets does not exceed the estimated fair value, no impairment loss is recognized. For the testing of goodwill and other indefinite-lived intangible assets for impairment, the Company performs a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount, which includes an evaluation as to whether there have been significant changes to macro-economic factors related to the reporting unit or intangible asset that could materially impact fair value. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset is more likely than not less than carrying amount, a quantitative impairment test would be required, in which the Company would determine the estimated fair value of its reporting units using discounted cash flow analyses and determine the estimated fair value of its indefinite-lived intangible assets using an income approach. </span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><ix:continuation id="TextSelection-257C8BFCC0DEFD3D4F515D5D91DAEA86-1"><span style="font-family:inherit;font-size:10pt;">As a result of the coronavirus (COVID-19) pandemic and the impact it has had on the Company&#8217;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. As further discussed in Note 8, the Company recognized an impairment of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1020-wk-Fact-F77AF2D31CC06FF346F68ADB8BDB9FB6" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">28.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> related to its Colorado resort ground transportation company during the year ended July 31, 2020, which was recorded within asset impairments on the Company&#8217;s Consolidated Statement of Operations, with a corresponding reduction to goodwill, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1024-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">25.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and to intangible assets, net and property, plant and equipment, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1028-wk-Fact-7024F556989CBCD420CD8ADC02C29240" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. See Note 8, Supplementary Balance Sheet Information, for additional information. The Company determined that there were no other impairments of goodwill, definite and indefinite-lived assets for the years ended July 31, 2020, and that there was </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1032-wk-Fact-417B8E67665DCAFC9CEB5D5D9149CEE6" name="us-gaap:GoodwillAndIntangibleAssetImpairment" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-6" scale="0" format="ixt-sec:numwordsen">no</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> impairment to goodwill and no material impairment to definite or indefinite-lived intangible assets for the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span></ix:continuation><span style="font-family:inherit;font-size:10pt;">.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" id="TextSelection-4FD4D1FCDBC8ED64DE7C5D5D91DC80EA-0-wk-Fact-E9603B4F646E79DC61A25D5D914C15B0" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Long-lived Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the net carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the net carrying amount of the asset, an impairment loss is recognized in the amount by which the net carrying amount of the asset exceeds its estimated fair value. As discussed above, the Company recorded an impairment to long-lived assets related to its Colorado resort ground transportation company during the year ended July 31, 2020. The Company determined that there were no other impairments of long-lived assets for the year ended July 31, 2020, and determined there was no impairment of the net carrying amount of a long-lived asset occurred during the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">. </span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s significant accounting policies with regard to revenue recognition are discussed in Note 3, Revenues.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RealEstatePolicyTextBlock" id="TextSelection-A25A0E575A79C9784E595D5D91DCACFE-0-wk-Fact-A443C90C61C0CFE851195D5D910E5553" continuedAt="TextSelection-A25A0E575A79C9784E595D5D91DCACFE-1" escape="true"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Real Estate Cost of Sales &#8212;</span></ix:nonNumeric><span style="font-family:inherit;font-size:10pt;"><ix:continuation id="TextSelection-A25A0E575A79C9784E595D5D91DCACFE-1"> Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and sales commission expense. The Company utilizes the relative sales value method to determine cost of sales for condominium units sold within a project when specific identification of costs cannot be reasonably determined.</ix:continuation> </span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" id="TextSelection-5AF525D2332C792DAE2D5D5D91DCEDE2-0-wk-Fact-8FF9946CA5D2064ABD3C5D5D914B262D" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Translation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The functional currency of the Company&#8217;s entities operating outside of the United States is the principal currency of the economic environment in which the entity primarily generates and expends cash, which is generally the local currency. The assets and liabilities of these foreign operations are translated at the exchange rate in effect as of the balance sheet dates. Income and expense items are translated using the weighted average exchange rate for the period. Translation adjustments from currency exchange, including intercompany transactions of a long-term nature, are recorded in accumulated other comprehensive loss as a separate component of stockholders&#8217; equity. Intercompany transactions that are not of a long-term nature are reported as gains and losses within &#8220;segment operating expense&#8221; and for intercompany loans within foreign currency loss on intercompany loans on the Company&#8217;s Consolidated Statements of Operations.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:LiabilityReserveEstimatePolicy" id="TextSelection-9E8C868DA5864D9436915D5D91D966EA-0-wk-Fact-B92CAF7CF2390806FF545D5D9119B6B1" continuedAt="TextSelection-9E8C868DA5864D9436915D5D91D966EA-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reserve Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company uses estimates to record reserves for certain liabilities, including medical claims, workers&#8217; compensation claims, third-party loss contingencies and property taxes, among other items. The Company estimates the probable costs related to these liabilities that will be incurred and records that amount as a liability in its Consolidated Financial Statements. </span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">79</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-3" continuedAt="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-4"><ix:continuation id="TextSelection-9E8C868DA5864D9436915D5D91D966EA-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, the Company records, as applicable, receivables related to insurance recoveries for loss contingencies if deemed probable of recovery. These estimates are reviewed and adjusted as the facts and circumstances change. The Company records legal costs related to defending claims as incurred.</span></div></ix:continuation><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:AdvertisingCostsPolicyTextBlock" id="TextSelection-B953D7F9C046B64547615D5D91D82C98-0-wk-Fact-AFB26CC8C647F83221325D5D910E2D46" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Advertising Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1221-wk-Fact-816E1153DB6D3B066A625D5D91129C82" name="us-gaap:AdvertisingExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">41.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1225-wk-Fact-E19FF2A960F8825AD0965D5D913A7C4E" name="us-gaap:AdvertisingExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">44.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e1230-wk-Fact-35C472F5A83B506D99565D5D9136C0B5" name="us-gaap:AdvertisingExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">39.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, and was recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statement of Operations. </span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:IncomeTaxPolicyTextBlock" id="TextSelection-BABA66794BD4B60B0D8E5D5D91DAFE10-0-wk-Fact-02F6744A944186DEA8725D5D91229F99" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Income tax expense includes U.S. tax (federal and state) and foreign income taxes. The Company&#8217;s provision for income taxes is based on pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carrybacks or carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company&#8217;s deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is &#8220;more-likely-than-not&#8221; to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the largest tax benefit that is cumulatively greater than </span><span style="font-family:inherit;font-size:10pt;">50%</span><span style="font-family:inherit;font-size:10pt;"> likely of being realized upon ultimate settlement. Interest and penalties accrued in connection with uncertain tax positions are recognized as a component of income tax expense. See Note 11 &#8220;Income Taxes&#8221; for more information.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:FairValueOfFinancialInstrumentsPolicy" id="TextSelection-CF9CD0A7C1C5A0E90BCC5D5D91DB5B1D-0-wk-Fact-17891BE37D07B4C8E1EA5D5D911B49A5" continuedAt="TextSelection-CF9CD0A7C1C5A0E90BCC5D5D91DB5B1D-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value of Financial Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The recorded amounts for cash and cash equivalents, restricted cash, receivables, other current assets and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Company&#8217;s credit agreements and the Employee Housing Bonds (as defined in Note 6, Long-Term Debt) approximate book value due to the variable nature of the interest rate, which is a market rate, associated with the debt. The estimated fair value of the 6.25% Notes (as defined in Note 6, Long-Term Debt) is based on quoted market prices (a Level 2 input). The estimated fair value of the EPR Secured Notes and EB-5 Development Notes (each as defined in Note 6, Long-Term Debt), have been estimated using analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input). The carrying values, including any unamortized premium or discount, and estimated fair values of the 6.25% Notes, EPR Secured Notes and EB-5 Development Notes as of July 31, 2020 are presented below (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:60%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Carrying Value</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1388-wk-Fact-1E043E94DC89A88F55298ADE0F980D87" name="us-gaap:NotesAndLoansPayable" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">600,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1402-wk-Fact-D92ABB9D6BAA190267C68AE082F8106F" name="us-gaap:DebtInstrumentFairValue" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">643,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1422-wk-Fact-C73EC28DFE1094D3EB5F8ADE0F9F3A38" name="us-gaap:NotesAndLoansPayable" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">137,314</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1436-wk-Fact-1B2B98C1C5550CC9AEA08AE082FEB7DA" name="us-gaap:DebtInstrumentFairValue" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">150,628</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1456-wk-Fact-04DB9DD11439EC6EC9498ADE0FA941BE" name="us-gaap:NotesAndLoansPayable" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">47,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1470-wk-Fact-0F40DC7AE27174B7A25B8AE083048ECA" name="us-gaap:DebtInstrumentFairValue" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">47,212</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy" id="TextSelection-50B595CA2A761141E9C25D5D91DAD0AB-0-wk-Fact-33BCE9C89902621A45C65D5D911154D7" escape="true"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;"><ix:continuation id="TextSelection-CF9CD0A7C1C5A0E90BCC5D5D91DB5B1D-1"></ix:continuation>Stock-Based Compensation &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Stock-based compensation expense is measured at the grant date based upon the estimated fair value of the award and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17 &#8220;Stock Compensation Plan&#8221; for more information), less the amount of forfeited awards which are recorded as they occur. <ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" id="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-0-wk-Fact-80FCC2A7A9C9C41266AF5D5D9114B8E2" continuedAt="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-1" escape="true">The following table shows total net stock-based compensation expense for the years ended </ix:nonNumeric></span><ix:continuation id="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-1" continuedAt="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-2"><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> included in the Consolidated Statements of Operations (in thousands):</span><span style="font-family:inherit;font-size:9pt;">&#160;</span></ix:continuation></div><ix:continuation id="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-2"><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain stock-based compensation expense</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1671-wk-Fact-AF07D08FA6668B92C8445D5D91451AE3" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,410</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1685-wk-Fact-567AB506999AA2B31F1D5D5D9143737E" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,474</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1699-wk-Fact-AE28295A815DC4273E345D5D9143FC62" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,716</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1714-wk-Fact-1A3BD38F2558E761304C5D5D914798FD" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,399</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1728-wk-Fact-CE2E726840E253EF565F5D5D91480B43" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,219</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1742-wk-Fact-E98F5EA54CD7A017E9A15D5D9141F9F1" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,215</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1762-wk-Fact-FC593415B1152E6C59905D5D91482111" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">212</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1776-wk-Fact-B4D3880FDC52C8F378305D5D9142C8B1" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1790-wk-Fact-810D3A159D2BDB78DE735D5D91435FA6" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pre-tax stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1810-wk-Fact-9B0ACDC3DCFD1EF5596F5D5D91473C4F" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1824-wk-Fact-0F89268E118B8B9A71155D5D91411740" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,856</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1838-wk-Fact-BF5E267DE56EE3B4C3F65D5D914A975F" name="us-gaap:AllocatedShareBasedCompensationExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: benefit from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1858-wk-Fact-375CCBB96DD4DA527B025D5D9148B811" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,027</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1872-wk-Fact-F26DDF7C86CEC9387A0C5D5D91418DF9" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,589</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1886-wk-Fact-C10F4A263CA9AC6F41F45D5D91401A6D" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,406</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net stock-based compensation expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1911-wk-Fact-DC4521C0A300BCA120FB5D5D913D09B2" name="us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,994</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1925-wk-Fact-6C4C3BB9FB14AEBD6E3F5D5D913D864F" name="us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,267</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5430284e1939-wk-Fact-37AA286F791F9E8B7E035D5D9143F4CD" name="us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,634</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:ConcentrationOfCreditRiskPolicyTextBlock" id="TextSelection-75B131EBAD21DF28F54B5D5D91DB0D42-0-wk-Fact-FD1DE4814094897828F75D5D91339393" continuedAt="TextSelection-75B131EBAD21DF28F54B5D5D91DB0D42-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high-</span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">80</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-4" continuedAt="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-5"><ix:continuation id="TextSelection-75B131EBAD21DF28F54B5D5D91DB0D42-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">quality credit institutions. The Company does not enter into financial instruments for trading or speculative purposes. Concentration of credit risk with respect to accounts and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.</span></div></ix:continuation><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" id="TextSelection-485567D5F16B37E7C31D83CE9767A7A2-0-wk-Fact-55C4DCA611A2DE83057283CEE3F2A6C1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting for Hedging Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> From time to time, the Company enters into interest rate swaps (the &#8220;Interest Rate Swaps&#8221;) to hedge the variability in cash flows associated with variable-rate borrowings by converting the floating interest rate to a fixed interest rate. As of July 31, 2020, the Company hedged the future cash flows associated with </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2024-wk-Fact-DADF5702D68203E3EAD58AE1DBA6D46B" name="mtn:InterestRateSwapNotionalAmount" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">400.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of the principal amount outstanding of its Vail Holdings Credit Agreement (as defined in Note 6 &#8220;Long-Term Debt&#8221;), which were designated as cash flow hedges. The accounting for changes in fair value of hedging instruments depends on the effectiveness of the hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Company to risks associated with market fluctuations and the financial instrument used must reduce the Company&#8217;s exposure to market fluctuation throughout the hedge period. Changes in estimated fair value of the Interest Rate Swaps are recorded within change in estimated fair value of hedging instruments on the Company&#8217;s Consolidated Statements of Comprehensive Income, and such change was recorded as a loss of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2028-wk-Fact-CADF3AC5EB3EA04EC8A68AE26231DF82" name="us-gaap:ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">22.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> during the year ended July 31, 2020. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. As of July 31, 2020, the estimated fair value of the Interest Rate Swaps was a liability of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2032-wk-Fact-7F7AC68CDCC41365F3608AE2F0F1AC8C" name="us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">22.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and was recorded within other long-term liabilities on the Company&#8217;s Consolidated Balance Sheet, and the impact of the underlying cash flows associated with the Interest Rate Swaps are recorded within interest expense, net on the Company&#8217;s Consolidated Statements of Operations. See Note 10 &#8220;Fair Value Measurements&#8221; for more information.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:LesseeLeasesPolicyTextBlock" id="TextSelection-5446348519C9E522477083CF0AAA6C87-0-wk-Fact-8779F57715840812D59B83CF6AE83CE1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Leases &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there is one or more assets identified and the right to control the use of any identified asset is conveyed to the Company for a period of time in exchange for consideration. Control over the use of an identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Generally, the Company classifies a lease as a finance lease if the terms of the agreement effectively transfer control of the underlying asset; otherwise, it is classified as an operating lease.&#160;For contracts that contain lease and non-lease components, the Company accounts for these components separately. For leases with terms greater than twelve months, the associated lease right-of-use (&#8220;ROU&#8221;) assets and lease liabilities are recognized at the estimated present value of future lease payments over the lease term at commencement date. The Company&#8217;s leases do not provide a readily determinable implicit rate; therefore, the Company uses an estimated incremental borrowing rate to discount the future minimum lease payments. For leases containing fixed rental escalation clauses, the escalators are factored into the determination of future minimum lease payments. The Company includes options to extend a lease when it is reasonably certain that such options will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. See&#160;Note 4 &#8220;Leases&#8221; for more information.</span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:UseOfEstimates" id="TextSelection-2DC371129D426BD4C18A83CF94F9B16A-0-wk-Fact-848BC3A1F50114AF5BA983CFD288D7D0" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recently Issued Accounting Standards</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock" id="TextSelection-D716CF035A77F3ED9E4D83D0869CBD8E-0-wk-Fact-B54AA4CBC18B62A5E1BF83D275CEC2D5" continuedAt="TextSelection-D716CF035A77F3ED9E4D83D0869CBD8E-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Adopted Standards</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In February 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, &#8220;Leases (Topic 842),&#8221; which supersedes &#8220;Leases (Topic 840).&#8221; The standard requires lessees to recognize the assets and liabilities arising from all leases on the balance sheet, including those classified as operating leases under previous accounting guidance, and to disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of twelve months or less. Under the new guidance, lessees are required to recognize a lease liability and an ROU asset on their balance sheets, while lessor accounting is largely unchanged. In July 2018, the FASB released ASU No. 2018-11, &#8220;Leases (Topic 842): Targeted Improvements&#8221; which, among other items, provided an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company adopted ASU No. 2016-02 on August 1, 2019 using the modified retrospective transition method as provided by the standard. In accordance with this transition method, results for reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously </span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">81</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-5"><ix:continuation id="TextSelection-D716CF035A77F3ED9E4D83D0869CBD8E-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">applicable accounting guidance. The Company has elected the package of practical expedients permitted under the transition guidance which allowed the Company to not reassess: (i) whether any existing or expired contracts are or contain leases; (ii) lease classification of any expired or existing leases; or (iii) initial direct costs for any existing leases. The Company has made an accounting policy election to not record leases on the balance sheet with an initial term of twelve months or less. The Company will recognize those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. Additionally, the Company has elected the practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases. At adoption, the Company was not able to determine the interest rate implicit in its leases; therefore, for existing operating leases, the lease liability was measured using the Company&#8217;s estimated incremental borrowing rate. For existing leases, the incremental borrowing rate used was based on the remaining lease term at the adoption date. For leases with minimum lease payments adjusted periodically for inflation, the lease liability was measured using the minimum lease payments adjusted by the inflation index at the adoption date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On August 1, 2019, as a result of adopting the standard, the Company recorded </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2080-wk-Fact-E6F16C9971B26D297AEE8AE3AF65ACC0" name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">221.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of operating ROU assets and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2084-wk-Fact-992064658C82AFE2956B8AE442462199" name="us-gaap:OperatingLeaseLiability" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">254.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of related total operating lease liabilities in the Consolidated Balance Sheet (of which </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2088-wk-Fact-3A94188AD5DB58EBACD98AE4AAF9EC86" name="us-gaap:OperatingLeaseLiabilityNoncurrent" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">219.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in operating lease liabilities and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2092-wk-Fact-88696E769F060D448F118AE52A55B858" name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">34.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in accounts payable and accrued liabilities). As a result of the adoption, the Company reclassified </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2096-wk-Fact-F863A7AA1F73EB3FF9658AE5BE5B1BDB" name="mtn:Rightofuseassetadjustments" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">32.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of unfavorable lease obligations, deferred rent credits and other related amounts to the operating ROU assets balance, primarily from other long-term liabilities, which reduced the amount recognized as operating ROU assets to </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5430284e2101-wk-Fact-E6F16C9971B26D297AEE8AE3AF65ACC0" name="us-gaap:OperatingLeaseRightOfUseAsset" contextRef="I2020Q1Adoption" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">221.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. The adoption of the new lease standard did not result in a cumulative effect adjustment to beginning retained earnings, and did not materially affect the Company&#8217;s Consolidated Statement of Operations or Consolidated Statement of Cash Flows for the year ended July 31, 2020. The Company&#8217;s Canyons finance lease was not affected by the implementation of this standard as the arrangement is classified and recorded as a finance lease arrangement under both the previous and new accounting guidance.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In April 2020, the FASB issued clarifying guidance on accounting for certain lease concessions related to the effects of the COVID-19 pandemic under ASC Topic 842, allowing companies to make an election to either account for such lease concessions (i) in the period that they occur as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract) or (ii) ratably over the remainder of the lease term as modifications to the contract. The Company made a policy election to account for such lease concessions as though enforceable rights and obligations to make those concessions existed in the contracts and as a result, will account for concessions in the period in which they occur. This election did not have a material impact on the Company&#8217;s Consolidated Financial Statements for the year ended July 31, 2020.</span></div></ix:continuation><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DescriptionOfNewAccountingPronouncementsNotYetAdopted" id="TextSelection-11F972E82C9240D7BA8B5D5D91DBBC2D-0-wk-Fact-060925B191CE426740415D5D9137EDA5" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Standards Being Evaluated</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2020, the FASB issued ASU 2020-04, &#8220;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#8221; The ASU provides optional transition guidance, for a limited time, to companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (&#8220;LIBOR&#8221;) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 through December 31, 2022. The amendments in this update may be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. All other amendments should be applied on a prospective basis. The Company is in the process of evaluating the effect that the adoption of this standard will have on its Consolidated Financial Statements.</span></div></ix:nonNumeric></ix:continuation><div><a id="s94D7B86463645CDEB25100774E0AE797"></a></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RevenueFromContractWithCustomerTextBlock" id="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-0-wk-Fact-A00BFE2F6D157FA5C7635D5D90DF1B1E" continuedAt="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">3.&#160;&#160;&#160;&#160; Revenues</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RevenueRecognitionPolicyTextBlock" id="TextSelection-5EA8DF5F2156944C48D25D5D91DC8434-0-wk-Fact-F761584D9609118DD4FD5D5D90D96792" continuedAt="TextSelection-5EA8DF5F2156944C48D25D5D91DC8434-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following provides information about the Company&#8217;s composition of revenue recognized from contracts with customers and other revenues, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain revenue is derived from a wide variety of sources, including, among other things: lift revenue, which includes sales of lift tickets and pass products; ski school revenue, which includes the revenue derived from ski school operations; dining revenue, which includes both casual and fine dining on-mountain operations; retail sales and equipment rentals; and other on-mountain revenue, which includes private ski club revenue (which includes both club dues and amortization of initiation fees), marketing and internet advertising revenue, municipal services and lodging and transportation operations at the Company&#8217;s Australian ski areas. Revenue is recognized over time as performance obligations are satisfied </span></div></td></tr></table></ix:nonNumeric></ix:nonNumeric><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">82</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-5EA8DF5F2156944C48D25D5D91DC8434-1"><ix:continuation id="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-1" continuedAt="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-2"><div style="line-height:120%;padding-left:48px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">as control of the good or service (e.g. access to ski areas, provision of ski school services, etc.) is transferred to the customer, except for the Company&#8217;s retail sales and dining operations revenues which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Company records deferred revenue primarily related to the sale of pass products. Deferred revenue is generally recognized throughout the ski season as the Company&#8217;s performance obligations are satisfied as control of the service (e.g. access to ski areas throughout the ski season) is transferred to the customer. Transfer of control is based on an estimated number of pass product holder visits relative to total expected visits. Total expected visits are estimated based on historical data, and the Company believes this estimate provides a faithful depiction of its customers&#8217; pass product usage. When sufficient historical data to determine usage patterns is not available, such as in the case of new product offerings, deferred revenue is recognized on a straight-line basis throughout the ski season until sufficient historical usage patterns are available. The Company also includes other sources of revenue, primarily related to commercial leasing and employee housing leasing arrangements, within other mountain revenue.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel rooms; revenue from hotel dining operations; transportation revenue which relates to the Company&#8217;s Colorado resort ground transportation operations; and other lodging revenue which includes property management services, managed properties other costs reimbursements, private golf club revenue (which includes both club dues and amortization of initiation fees), and golf course fees. Lodging revenue also includes managed hotel property payroll cost reimbursements related to payroll costs at managed properties where the Company is the employer, which are reimbursed by the owner with no added margin. Therefore, these revenues and corresponding expenses have no net effect on the Company&#8217;s operating income or net income. Other than revenue from dining operations, lodging revenue is mostly recognized over time as performance obligations are satisfied as control of the service (e.g. nightly hotel room access) is transferred to the customer. </span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate revenue primarily relates to the sale of development land parcels. Real estate revenue is generally recognized at a point in time when performance obligations have been satisfied, which is usually upon closing of the sales transaction and in an amount that reflects the consideration to which the Company expects to be entitled.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For certain contracts that have an original term length of one year or less, the Company uses the practical expedient applicable to such contracts and does not consider the time value of money. For contracts with an expected term in excess of one year, the Company has considered the provisions of Topic 606 in determining whether contracts contain a financing component. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company presents revenues in the accompanying Consolidated Statements of Operations, net of taxes, when collected from its customers that are remitted or payable to government taxing authorities, except when products are inclusive of taxes where applicable.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic, the Company closed its North American destination mountain resorts, regional ski areas and retail stores beginning on March 15, 2020. To encourage the Company&#8217;s pass product holders to renew their pass purchases for next season following the closures this past spring, the Company announced a credit offer on April 27, 2020 for existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#8220;Credit Offer&#8221;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for 2019/2020 season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 North American ski season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. For accounting purposes, the Credit Offer constituted a material right to existing 2019/2020 pass product holders to which the Company allocated a transaction price of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e727-wk-Fact-4A3318A7A37533E68D918AE771DDD5F8" name="mtn:SeasonPassCreditDeferralRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">120.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. As a result, the Company deferred </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e731-wk-Fact-4A3318A7A37533E68D918AE771DDD5F8" name="mtn:SeasonPassCreditDeferralRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">120.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of pass product revenue, which would have been recognized as lift revenue during the year ended July 31, 2020. The Company expects to recognize the revenue associated with the Credit Offer in the second and third fiscal quarters of the fiscal year ending July 31, 2021 or the second and third fiscal quarters of the fiscal year ending July 31, 2022. While the Company expects most of this revenue to be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage for the 2020/2021 ski season and is eligible to utilize their credit toward the purchase of a pass product for the 2021/2022 ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. In addition, as a result of the pass product revenue deferral, the Company also deferred approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e735-wk-Fact-2EF759CF76E1090245F98AE899E70F2B" name="mtn:SeasonPassCreditDeferralCosts" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of the associated costs of obtaining a contract (primarily credit card processing fees), which will be recognized commensurate with the associated deferred revenue.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated the standalone selling price of the Credit Offer by utilizing historical pass holder renewal data to estimate the total amount of credits that are expected to be redeemed. Estimates and assumptions made regarding expected renewal rates impacted the estimate of the transaction price allocated to the Credit Offer and could vary materially from the amount of revenue deferred depending upon actual customer redemptions.</span></div></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">83</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-2" continuedAt="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-3"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DisaggregationOfRevenueTableTextBlock" id="TextSelection-253001C6257144DD3BED5D5D91DCB7EE-0-wk-Fact-757F7B335617F723970B5D5D90DB370F" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Disaggregation of Revenues</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents net revenues disaggregated by segment and major revenue type for the years ended July 31, 2020, 2019 and 2018 (in thousands):</span></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:58%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain net revenue:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e993-wk-Fact-B65AA17DEFD15F40FAC35D5D90D30868" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">913,091</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1012-wk-Fact-94C2E89261121FBC4B945D5D90EA4EB5" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,033,234</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1032-wk-Fact-F0CC14227F753F8E5BF25D5D90D5A6FA" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">880,293</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski School</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1052-wk-Fact-FA0E5ECC4D54DCF53A945D5D90E687CC" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">189,131</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1071-wk-Fact-4B0186D90BC9AB871D3B5D5D90D8D45B" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">215,060</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1090-wk-Fact-459FC1CD031D4203CDCF5D5D90EAC389" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">189,910</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1116-wk-Fact-5500D2010491FB64A21D5D5D90D79D84" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">160,763</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1135-wk-Fact-F5B213B9DABC8267BF4D5D5D90E8F964" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">181,837</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1154-wk-Fact-DE45BA47F1F978168F585D5D90D95A83" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">161,402</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/Rental</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1180-wk-Fact-9DBB23AFA71D1D2BCB865D5D90D57886" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,299</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1199-wk-Fact-7563C57C226401E903AE5D5D90E67117" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">320,267</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1218-wk-Fact-11A627D0D9AB2080EE2D5D5D90E46F19" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">296,466</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1244-wk-Fact-C2EF63F150179BD212495D5D90E1665F" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">177,159</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1263-wk-Fact-0524D23AFDF934BFF8035D5D90D276EC" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">205,803</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1282-wk-Fact-BE6D1496F34A28C25BDA5D5D90E14C63" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">194,851</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1313-wk-Fact-A00C362BECEAC3C71B605D5D90E212AA" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,710,443</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1332-wk-Fact-8D985D9D6196BB1E43F05D5D90DA26C0" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,956,201</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1352-wk-Fact-3D923F450CC7078C05DC5D5D90E9118C" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,722,922</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging net revenue:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;Owned hotel rooms</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1444-wk-Fact-16BF90C7C8CEBDA666A15D5D90E37135" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">44,992</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1463-wk-Fact-CCFC70D60AB85A10E72B5D5D90D69F4F" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">64,826</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1483-wk-Fact-05EB4E4AC61C37A9C6655D5D90E426EC" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">65,252</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Managed condominium rooms</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1504-wk-Fact-2EF5DA447471EAEDE12C5D5D90EB0B63" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">76,480</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1523-wk-Fact-CC58CB40CB361FEB13805D5D90E85433" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">86,236</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1542-wk-Fact-02192B30FBB56EA5498B5D5D90DE4246" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">70,198</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1568-wk-Fact-CA2FA0DCF7FF7A0FF2BB5D5D90E1BCC1" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">38,252</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1587-wk-Fact-6926800B648F0180D8D05D5D90E7B47A" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">53,730</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1606-wk-Fact-ED2C0B184570DBCEA47C5D5D90E5E723" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">48,554</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transportation</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1632-wk-Fact-553775B44A572C759C605D5D90DE36F2" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">15,796</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1651-wk-Fact-EDA5089544AA9F84892C5D5D90E5B22D" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,275</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1670-wk-Fact-FA89D6BD0A75EC2BCB2D5D5D90D39E98" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,111</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Golf</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1696-wk-Fact-A975AF43022960C330425D5D90D38A79" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,412</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1715-wk-Fact-01AAEAB1B239AFBE6A6F5D5D90DB139D" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,648</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1734-wk-Fact-BABFEC8BB7E4210B30C65D5D90E5020D" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,110</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1760-wk-Fact-CA21ADAE99A97A51BF8C5D5D90DEAD40" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">44,933</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1779-wk-Fact-BBC0B793DC00AC24D03A5D5D90E7C1CA" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">54,617</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1798-wk-Fact-772E4D1FD876586781C75D5D90D53CEB" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">47,577</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1824-wk-Fact-5146CB1EF58C9246254D5D5D90D8BC5E" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">237,865</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1843-wk-Fact-EDF68363AB96A5D1EEDD5D5D90D1C955" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">300,332</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1862-wk-Fact-07679142F1AA2FA138625D5D90E32C27" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,802</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payroll cost reimbursements</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1888-wk-Fact-4A0994DC2397FEF4CB895D5D90E3AC0A" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,549</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1907-wk-Fact-FDECB67358980BAC4E515D5D90D5A5BF" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">14,330</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1926-wk-Fact-B8F4732872D4E847A4F55D5D90D5387A" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,841</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Lodging net revenue </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1957-wk-Fact-C138D921906F2757C1B25D5D90DBAB30" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">248,414</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1976-wk-Fact-8A88E895DABB3B6DCFEB5D5D90E968EC" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">314,662</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e1996-wk-Fact-F97B98F94853BA6B10AC5D5D90DF44D9" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">284,643</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2021-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE" name="mtn:ResortRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,958,857</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2040-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B" name="mtn:ResortRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,270,863</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2060-wk-Fact-20C24236F537BF44B0EE5D5D918422F6" name="mtn:ResortRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,007,565</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Real Estate net revenue</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2080-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C" name="mtn:RealEstateRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,847</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2099-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D" name="mtn:RealEstateRevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">712</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2118-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08" name="mtn:RealEstateRevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,988</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2149-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F" name="us-gaap:Revenues" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,963,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2168-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC" name="us-gaap:Revenues" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,271,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2188-wk-Fact-13BF56D36D16097543555D5D919C600C" name="us-gaap:Revenues" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,011,553</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Arrangements with Multiple Performance Obligations</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Several of the Company&#8217;s contracts with customers include multiple performance obligations, primarily related to bundled services such as ski school packages, lodging packages and events (e.g. weddings and conferences). For such contracts, revenue is allocated to each distinct and separate performance obligation based on its relative standalone selling price. The standalone selling prices are generally based on observable prices charged to customers or estimated based on historical experience and information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Contract Balances</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contract liabilities are recorded primarily as deferred revenues when payments are received or due in advance of the Company&#8217;s performance, including amounts which may be refundable. The deferred revenue balance is primarily related to accounts receivable or cash payments recorded in advance of satisfying the Company&#8217;s performance obligations related to sales of pass products prior to the start of the ski season, private club initiation fees and other related advance purchase products, including advance purchase lift tickets, multiple-day lift tickets, ski school lessons, equipment rentals and lodging advance deposits. Due to the seasonality of the Company&#8217;s operations, its largest deferred revenue balances occur during the North American pass product selling window, which generally begins in the fourth quarter of its fiscal year. Deferred revenue balances of a short-term nature were </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2211-wk-Fact-A6655FF4ACBCE60BC6F95D5D90D88866" name="us-gaap:DeferredRevenueCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">256.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2215-wk-Fact-3E833C33E9E8DFB789DE5D5D90D60C35" name="us-gaap:DeferredRevenueCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">335.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, were </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2219-wk-Fact-2A50D808F84E9F445CC75D5D90D3E839" name="us-gaap:ContractWithCustomerLiability" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">121.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2223-wk-Fact-6E821A3743148B6D742D5D5D91BE10F8" name="us-gaap:ContractWithCustomerLiability" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">124.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. For the year ended July 31, 2020, the Company recognized approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2227-wk-Fact-921ADEDCAA9690F1E4495D5D90DC65F6" name="us-gaap:ContractWithCustomerLiabilityRevenueRecognized" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">266.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of revenue that was included in the deferred revenue balance as of July 31, 2019. As of July 31, 2020, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5432036e2232-wk-Fact-5D5812DB1837662BFA4680B4873A6E3F" name="mtn:PrivateClubRecognizedInitiationFeesAverageRemainingPeriod" contextRef="FD2020Q4YTD" unitRef="number" decimals="INF" scale="0" format="ixt:numdotdecimal">16</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> years. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contract assets are recorded as trade receivables when the right to consideration is unconditional. Trade receivable balances were </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2239-wk-Fact-141A144CEA02BB8C3DD198FFD932FEB5" name="us-gaap:AccountsReceivableNetCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">106.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2243-wk-Fact-D5437AAF038E57E19D215D5D90DE709F" name="us-gaap:AccountsReceivableNetCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">270.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. Payments from customers are based on billing terms established in the contracts with customers, which vary by the type of customer, the location and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, contracts require payment before the products are delivered or services are provided to the customer. Impairment losses related </span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">84</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-3"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">to contract assets are recognized through the Company&#8217;s allowance for doubtful accounts analysis. Contract asset write-offs are evaluated on an individual basis.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Costs to Obtain Contracts with Customers</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company expects that credit card fees and sales commissions paid in order to obtain season ski pass products contracts are recoverable. Accordingly, the Company records these amounts as assets when they are paid prior to the start of the ski season. As of July 31, 2020, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2257-wk-Fact-0EFB5F4425BA393666585D5D91BF5BF8" name="us-gaap:CapitalizedContractCostNet" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of costs to obtain contracts with customers were recorded within other current assets on the Company&#8217;s Consolidated Balance Sheet. Deferred credit card fees and sales commissions are amortized commensurate with the recognition of season ski pass revenue. The Company recorded amortization of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2261-wk-Fact-7FFC9F7F51817AEC1A0F5D5D91BD0A27" name="us-gaap:CapitalizedContractCostAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">11.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2265-wk-Fact-BB8E308433EE06B4A96B5D5D90D4D846" name="us-gaap:CapitalizedContractCostAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">10.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5432036e2269-wk-Fact-38A8D136F86CBA6B9ECE5D5D90E075A8" name="us-gaap:CapitalizedContractCostAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">8.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> for these costs during the years ended July 31, 2020, 2019 and 2018, respectively, which were recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statement of Operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Utilizing the practical expedient provided for under Topic 606, the Company has elected to expense credit card fees and sales commissions related to non-season ski pass products and services as incurred, as the amortization period is generally one year or less for the time between customer purchase and utilization. These fees are recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statements of Operations.</span></div></ix:continuation><div><a id="sf291977134b64a6caeb1265fa5f67622"></a></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:LeasesOfLesseeDisclosureTextBlock" id="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-0-wk-Fact-C6EB479EF066CC432C7E8AF297D7CC39" continuedAt="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">4.&#160;&#160;&#160;&#160; Leases</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s operating leases consist primarily of commercial and retail space, office space, employee residential units, vehicles and other equipment. The Company determines if an arrangement is or contains a lease at contract inception or modification. The Company&#8217;s lease contracts generally range from&#160;</span><span style="font-family:inherit;font-size:10pt;">1</span><span style="font-family:inherit;font-size:10pt;"> year&#160;to&#160;</span><span style="font-family:inherit;font-size:10pt;">60&#160;years</span><span style="font-family:inherit;font-size:10pt;">, with some lease contracts containing one or more lease extension options, exercisable at the Company&#8217;s discretion. The Company generally does not include these lease extension options in the initial lease term as it is not reasonably certain that it will exercise such options at contract inception. In addition, certain lease arrangements contain fixed and variable lease payments. The variable lease payments are primarily contingent rental payments based on: (i) a percentage of revenue related to the leased property; (ii) payments based on a percentage of sales over contractual levels; or (iii) lease payments adjusted for changes in an index or market value. These variable lease payments are typically recognized when the underlying event occurs and are included in operating expenses in the Company&#8217;s Consolidated Statements of Operations in the same line item as the expense arising from fixed lease payments. The Company&#8217;s lease agreements may also include non-lease components, such as common area maintenance and insurance, which are accounted for separately. Future lease payments that are contingent and non-lease components are not included in the measurement of the operating lease liability. The Company&#8217;s lease agreements do not contain any material residual value guarantees or restrictive covenants. Lease expense related to lease payments is recognized on a straight-line basis over the term of the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s leases do not provide a readily determinable implicit rate. As a result, the Company measures the lease liability using an estimated incremental borrowing rate which is intended to reflect the rate of interest the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The Company applies the estimated incremental borrowing rates at a portfolio level based on the economic environment associated with the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company uses the long-lived assets impairment guidance to determine recognition and measurement of an ROU asset impairment, if any. The Company monitors for events or changes in circumstances that require a reassessment.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:LeaseCostTableTextBlock" id="TextSelection-421AD09AE7AD126E8F908AECA6668E7F-0-wk-Fact-8F387F4E4E49EA5FAC248AECFE8B2954" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of lease expense for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:78%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance leases:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortization of the finance ROU assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e775-wk-Fact-EC9A712BDABA2B6E8C3F8CF764A5E7DD" name="us-gaap:FinanceLeaseRightOfUseAssetAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,753</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on lease liabilities </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e800-wk-Fact-808EAB703DF4BDB97CA78CF7A17A84C7" name="us-gaap:FinanceLeaseInterestExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">34,035</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating leases:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease expense</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e851-wk-Fact-C27C8E1048BE155D1A218CF7DC735742" name="us-gaap:OperatingLeaseExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">43,303</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Short-term lease expense </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e878-wk-Fact-E2E88EB7BB5ABF8E7F578CF8114A76B4" name="us-gaap:ShortTermLeaseCost" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,943</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Variable lease expense </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e903-wk-Fact-515E1BBC7246ACA53CFE8CF85E7447BD" name="us-gaap:VariableLeaseCost" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,583</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:4px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1) Short-term lease expense is attributable to leases with terms of 12 months or less which are not included within the Company&#8217;s Consolidated Balance Sheet.</span></div></ix:nonNumeric><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">85</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-1" continuedAt="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-2"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:CashFlowSupplementalDisclosuresTextBlock" id="TextSelection-FD2F1625B03D4B85AC818AED2CA3701A-0-wk-Fact-B111BF08C3505CD604588CF4336FDE0E" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents the supplemental cash flow information associated with the Company&#8217;s leasing activities for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:78%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Cash flow supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for operating leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1005-wk-Fact-CEC38FBB3FB185008D738CF94E70419E" name="us-gaap:OperatingLeasePayments" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">55,344</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for finance leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1030-wk-Fact-E981474CB68FE3AEDFDC8CF9E9D4A3DC" name="mtn:OperatingCashOutflowsforFinanceLeases" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">29,311</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Financing cash outflows for finance leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1055-wk-Fact-D915BBFDC8489DC016148CFA6D112423" name="mtn:FinancingCashOutflowsforFinanceLeases" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,387</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Non-cash supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating ROU assets obtained in exchange for operating lease obligations </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1106-wk-Fact-FE35DA4E76C85B48543C97FD553833ED" name="us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,013</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock" id="TextSelection-B84F55BAD17AD478AD798AF165BEE78B-0-wk-Fact-666E4069A81872FF1F768CF4F6AFF86C" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease terms and discount rates are as follows:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:78%;"></td><td style="width:1%;"></td><td style="width:20%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">As of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average remaining lease term (in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5433788e1185-wk-Fact-BB230C67A95C79C5802C8CFB3AEFDCFB" name="us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1" contextRef="FI2020Q4" format="ixt-sec:duryear">10.6</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5433788e1205-wk-Fact-44A3777A56B29FE8A9B18CFB7AED12EC" name="us-gaap:FinanceLeaseWeightedAverageRemainingLeaseTerm1" contextRef="FI2020Q4" format="ixt-sec:duryear">42.9</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average discount rate </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1246-wk-Fact-AAA6AC07FBBA13E1A6408CFBB068EC2E" name="us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent" contextRef="FI2020Q4" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">4.5</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1267-wk-Fact-67A39CF93E4B0421F1B28CFBEFB9B919" name="us-gaap:FinanceLeaseWeightedAverageDiscountRatePercent" contextRef="FI2020Q4" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">10.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:ScheduleofFutureMinimumLeasePaymentsTableTextBlock" id="TextSelection-8A74EE159E1D837453378AF1F0B2203D-0-wk-Fact-1F5171E9A90850BFB0828CF558E31D58" continuedAt="TextSelection-8A74EE159E1D837453378AF1F0B2203D-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future lease payments for operating and finance leases as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year (August 1 through July 31) are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:57%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance Leases </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1355-wk-Fact-6E6F447F1C408092FF178D0562970B30" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">47,013</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1374-wk-Fact-D0E36F62A45C5FDE60D08D09C0E1B9A2" name="us-gaap:FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,818</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1389-wk-Fact-BB8305315C710D753BC08D058F18BA66" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">43,699</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1408-wk-Fact-30400C46AC2A31ED55578D0A16BC29BB" name="us-gaap:FinanceLeaseLiabilityPaymentsDueYearTwo" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">29,394</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1428-wk-Fact-38821D2E131D54538D648D05C4D1FBDD" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">38,353</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1447-wk-Fact-44D5DE19367D2E19897A8D0A69B81793" name="us-gaap:FinanceLeaseLiabilityPaymentsDueYearThree" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">29,982</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1467-wk-Fact-6C21DB45D0627D9418FF8D05FE69A741" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">34,431</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1486-wk-Fact-9BA3B1E0EE03F412BAD88D0AB24EF7E5" name="us-gaap:FinanceLeaseLiabilityPaymentsDueYearFour" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">30,582</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1506-wk-Fact-1F8CBC78A202E335F9698D067D965EE8" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">32,405</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1525-wk-Fact-80DB2BF571EED1E8E70C8D0B066BC5F6" name="us-gaap:FinanceLeaseLiabilityPaymentsDueYearFive" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">31,193</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1545-wk-Fact-D1185554D1F48EAAD7BB8D071AE655EC" name="us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">137,501</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1564-wk-Fact-D008AC4E54CA4B26ADBF8D0B7EAECD56" name="us-gaap:FinanceLeaseLiabilityPaymentsDueAfterYearFive" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,773,855</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1584-wk-Fact-FF2BD4D9736128CBA5C28D08469856CE" name="us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">333,402</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1603-wk-Fact-7968349A470F9227BB1C8D0BCD3B8231" name="us-gaap:FinanceLeaseLiabilityPaymentsDue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,923,824</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5433788e1623-wk-Fact-D70A0663D03070A889C08D08AFF120EA" name="us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">79,256</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5433788e1643-wk-Fact-8D7B546495B4C10B60148D0C24DD4383" name="us-gaap:FinanceLeaseLiabilityUndiscountedExcessAmount" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,577,790</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total lease liabilities </span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1669-wk-Fact-485E2F979A74585BA0368D08FF79B720" name="us-gaap:OperatingLeaseLiability" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">254,146</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1688-wk-Fact-3B48DBEC3A070EAD44938D0C6B723899" name="us-gaap:FinanceLeaseLiability" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">346,034</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The current portion of operating lease liabilities of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5433788e1697-wk-Fact-D199493EE29931DD65C28D1A54E3839C" name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">36.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is recorded within accounts payables and accrued liabilities in the Consolidated Balance Sheet. Finance lease liabilities are recorded within long-term debt, net in the Consolidated Balance Sheets.</span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">86</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-2"><ix:continuation id="TextSelection-8A74EE159E1D837453378AF1F0B2203D-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future minimum lease payments in accordance with Topic 840 as of July 31, 2019, reflected by fiscal year (August 1 through July 31), were as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:57%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:19%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Capital Leases</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1779-wk-Fact-89A423893853DF987FC68D0F10DA7B41" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">44,984</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1798-wk-Fact-B626A1837BD2EB1CDB658D1138E5BE18" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,253</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1813-wk-Fact-D308E164B709DE2C44E48D0F69D38838" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,512</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1832-wk-Fact-95FA8EEACFB202BB46728D1184F860C0" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,818</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1852-wk-Fact-F2D10485630D5411384C8D0FAE92E042" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">39,440</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1871-wk-Fact-620AEC32754041C6ADA28D11DDDEC754" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">29,394</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1891-wk-Fact-D85AE084513CC4BE56DE8D10025C397C" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">34,840</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1910-wk-Fact-D2E25807BAD9307F365B8D1241C79A48" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">29,982</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1930-wk-Fact-E781FCCD3C170B014B6A8D104B333364" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">30,836</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1949-wk-Fact-090C930CB07BAE2163AF8D12B1C5EBC1" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">30,582</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1969-wk-Fact-562AE3F24945F8D9941A8D10A06B1B72" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">142,526</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e1988-wk-Fact-3C21662B00810DBD7C878D12F36E6024" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,805,048</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e2008-wk-Fact-092055FF8C72C9DE0F118D10F4B669F2" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">335,138</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e2027-wk-Fact-0EBF50D582B4D5FFCFBA8D13340D0924" name="us-gaap:CapitalLeasesFutureMinimumPaymentsDue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,952,077</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5433788e2066-wk-Fact-2CC3B19A7290D52E944D8D13C0BAD1D1" name="us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,611,816</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net future minimum lease payments</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e2092-wk-Fact-092055FF8C72C9DE0F118D10F4B669F2" name="us-gaap:OperatingLeasesFutureMinimumPaymentsDue" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">335,138</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5433788e2111-wk-Fact-C965FFE0D961DE7D545B8D14181A2CD1" name="us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">340,261</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Canyons finance lease obligation represents the only material finance lease entered into by the Company and was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5433788e2123-wk-Fact-327CA973597A727D87098D1C6E28225F" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">346.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, which represents the estimated annual lease payments for the remaining initial 50 year term of the lease assuming annual increases at the floor of </span><span style="font-family:inherit;font-size:10pt;">2%</span><span style="font-family:inherit;font-size:10pt;"> and discounted using an interest rate of </span><span style="font-family:inherit;font-size:10pt;">10%</span><span style="font-family:inherit;font-size:10pt;">. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company has recorded </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5433788e2144-wk-Fact-B793B79BD030E85BC2218D237BFD9962" name="us-gaap:FinanceLeaseRightOfUseAsset" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">117.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of finance lease ROU assets in connection with the Canyons lease, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5433788e2148-wk-Fact-08286ED01BFB6589E2A58D24CC5D91C8" name="us-gaap:FinanceLeaseRightOfUseAssetAccumulatedAmortization" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">65.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of accumulated amortization, which is included within property, plant and equipment, net in the Company&#8217;s Consolidated Balance Sheet.</span></div></ix:continuation><div><a id="s8A6AF1D07BC95D0593516F17144CE4CD"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">5.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:EarningsPerShareTextBlock" id="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-0-wk-Fact-C9AA2573AB954D16B1135D5D90F96912" continuedAt="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-1" escape="true">Net Income Per Common Share</ix:nonNumeric></span></div><ix:continuation id="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-1" continuedAt="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Earnings per Share</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic earnings per share (&#8220;EPS&#8221;) excludes dilution and is computed by dividing net income attributable to Vail Resorts stockholders by the weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then share in the earnings of Vail Resorts. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In connection with the Company&#8217;s acquisition of Whistler Blackcomb in October 2016 (see Note 7, Acquisitions), the Company issued consideration in the form of shares of Vail Resorts common stock (the &#8220;Vail Shares&#8221;) and shares of the Company&#8217;s wholly-owned Canadian subsidiary (&#8220;Exchangeco&#8221;). Whistler Blackcomb shareholders elected to receive&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e686-wk-Fact-1402C264C82D85330C385D5D90FDF0BF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">3,327,719</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">&#160;Vail Shares and&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e690-wk-Fact-350FF4E276B7213D50C25D5D90FDFAE2" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">418,095</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">&#160;shares of Exchangeco (the &#8220;Exchangeco Shares&#8221;). Both Vail Shares and Exchangeco Shares have a par value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5435086e694-wk-Fact-392BAFDF23EEB440CC9BB22395F4D64A" name="mtn:ExchangeableSharesParValuePerShare" contextRef="FI2020Q4" unitRef="usdPerShare" decimals="INF" scale="0" format="ixt:numdotdecimal">0.01</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">&#160;per share, and Exchangeco Shares, while outstanding, are substantially the economic equivalent of the Vail Shares and are exchangeable, at any time prior to the seventh anniversary of the closing of the acquisition, into Vail Shares. The Company&#8217;s calculation of weighted-average shares outstanding includes the Exchangeco Shares.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" id="TextSelection-E5700D7BC3B4AAE28DA65D5D91DD46A0-0-wk-Fact-3E4E3F426D494FB73A975D5D910695F3" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Presented below is basic and diluted EPS for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> (in thousands, except per share amounts):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="19"></td></tr><tr><td style="width:46%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net income per share:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1152-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1166-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1180-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1195-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1209-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1223-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1238-wk-Fact-8006720D6E3FA0870BC15D5D90E1FA96" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,227</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1252-wk-Fact-8006720D6E3FA0870BC15D5D90E1FA96" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,227</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1266-wk-Fact-11CAB869DD6E55F64DB85D5D90D992CA" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,292</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1280-wk-Fact-11CAB869DD6E55F64DB85D5D90D992CA" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,292</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1295-wk-Fact-51880896DDAFCDFE5B0E5D5D90E432F4" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,337</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1309-wk-Fact-51880896DDAFCDFE5B0E5D5D90E432F4" name="mtn:WeightedAverageNumberofSharesOutstandingCommon" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,337</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average Exchangeco shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1329-wk-Fact-B84F004B6212AE359BC15D5D90DA17C0" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1343-wk-Fact-B84F004B6212AE359BC15D5D90DA17C0" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1357-wk-Fact-3F9D4F9342309DEC9C2180B5C7975B08" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">57</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1371-wk-Fact-3F9D4F9342309DEC9C2180B5C7975B08" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">57</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1386-wk-Fact-4CA143AECE28CE52487180B5C79FDA57" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">60</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1400-wk-Fact-4CA143AECE28CE52487180B5C79FDA57" name="mtn:WeightedAverageNumberofSharesOutstandingExchangeable" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">60</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1420-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,273</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1434-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,273</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1448-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,349</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1462-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,349</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1477-wk-Fact-13D169902D92559E7B7D5D5D90E59457" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,397</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1491-wk-Fact-13D169902D92559E7B7D5D5D90E59457" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,397</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effect of dilutive securities</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1525-wk-Fact-4586AD6BB5E48807C8235D5D90D9C167" name="us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">565</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1553-wk-Fact-78FE8F5F267A3454BBB05D5D90E2D9BC" name="us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">809</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1582-wk-Fact-44DF38DA3A458BDA56915D5D90DD89FC" name="us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,221</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total shares</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1602-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,273</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1616-wk-Fact-DD2A25138F757FD5F38A5D5D90DB144B" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,838</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1630-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,349</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1644-wk-Fact-6311A6C19021ABDF24315D5D90D73927" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">41,158</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1659-wk-Fact-13D169902D92559E7B7D5D5D90E59457" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">40,397</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1673-wk-Fact-09AD3E96B8A1928EA3E95D5D90DFD486" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">41,618</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1698-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.45</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1712-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.42</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1726-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1741-wk-Fact-769B2B2962B5367305AD5D5D91863542" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.32</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1755-wk-Fact-E4FCB5427F5331C336895D5D918EFC6F" name="us-gaap:EarningsPerShareBasic" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">9.40</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1769-wk-Fact-1F695C41E87726FFE3755D5D90CC9562" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">9.13</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards that were excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled approximately </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1790-wk-Fact-30041AB40B31590CBB785D5D914AF7A2" name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="FD2020Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">2,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1794-wk-Fact-5D7B44CCF893778539C35D5D9106A546" name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="FD2019Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">4,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5435086e1798-wk-Fact-BD8A9066068C0B0A54345D5D9100B264" name="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" contextRef="FD2018Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">2,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">87</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Dividends</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company paid cash dividends of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5435086e1825-wk-Fact-550D9C7303E4740B7C0280B7966A565F" name="us-gaap:CommonStockDividendsPerShareCashPaid" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.28</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> per share (</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5435086e1829-wk-Fact-AE38BB940EB5CB8474B380B76410EEC7" name="us-gaap:PaymentsOfDividends" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">212.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in the aggregate). The Company announced on April 1, 2020 that it would be suspending its quarterly dividend for at least the next two quarters, and will be subject to a dividend limitation under the Financial Covenants Temporary Waiver Period of the Vail Holdings Credit Agreement (as defined in Note 6, Long-Term Debt).</span></div></ix:continuation><div><a id="s7B67974DEB68541D8D8F9E28CCFB5C92"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">6.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DebtDisclosureTextBlock" id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-0-wk-Fact-B3C7A36139BE0F42863F5D5D910F4524" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-1" escape="true">Long-Term Debt</ix:nonNumeric></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfDebtInstrumentsTextBlock" id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-0-wk-Fact-EB9A78B9E77DCF83D7575D5D91223DEF" continuedAt="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-1" escape="true"><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-1" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> is summarized as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:52%;"></td><td style="width:16%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Maturity</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e769-wk-Fact-A5ABFE68DC4FA6E88BA55D5D90CDE71C" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">2024</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e779-wk-Fact-A19A6C9E03CFFC3B72125D5D9126575D" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e793-wk-Fact-D76818BA53E071AE60F05D5D90CA273A" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">208,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement term loan </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e810-wk-Fact-BF60A5CB4204F16C8C0F5D5D9123F022" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">2024</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e815-wk-Fact-673CA3FB534FEC26EE625D5D912493A8" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,203,125</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e829-wk-Fact-49174299D41CA933EE425D5D912A7E9B" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">914,375</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(b)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e851-wk-Fact-AD93765EFEA1C5EC8CE09423F7DE94B9" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">2025</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e856-wk-Fact-7B2B3EA21A303F6ABB649421FE9945EC" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">600,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e870-wk-Fact-DE2C7F2C76761AB21A2A94234E923E0A" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Whistler Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e892-wk-Fact-BD92107F480B6947ACD15D5D912678D0" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">2024</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e897-wk-Fact-9A1EB3C2D81C8BCF0D225D5D90CD9AEE" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">58,236</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e911-wk-Fact-6177757655F27064E5045D5D9125680D" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">45,454</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(d)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2034-2036</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e938-wk-Fact-6E6A4C5DB461E7FB02A994252988A75D" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">114,162</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e952-wk-Fact-950DB0604F9980E3C45C94263B79D432" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(e)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e974-wk-Fact-52FB76942CED8E93B7ED9428549273BA" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EB5DevelopmentNotesMember">2021</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e979-wk-Fact-2C7685F879983A12B4A29427097E24C8" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">51,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e993-wk-Fact-603F02F8E4075F1909F99427EE5DA150" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Employee housing bonds </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(f)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2027-2039</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1020-wk-Fact-A0EFE6B59E8F9DCCBE4C5D5D912704AE" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">52,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1034-wk-Fact-1ADD38B957298D50EE185D5D90CAF647" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">52,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(g)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1056-wk-Fact-D8AC1FEA712DA570124A5D5D9124A23E" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">2063</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1061-wk-Fact-B0A0F88BEAA5960CBC8B5D5D90CBBD9A" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">346,034</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1075-wk-Fact-96C7E3D59E48EBAA123C5D5D912A579B" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">340,261</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(h)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020-2033</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1102-wk-Fact-2F166DE6FEBB8809BF845D5D90CC8072" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,616</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1116-wk-Fact-DEC4C22CE343A0B45B175D5D91288553" name="us-gaap:LongTermDebt" contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,465</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1140-wk-Fact-501739AF09CD680C9A795D5D9126F51D" name="us-gaap:LongTermDebt" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,444,248</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1154-wk-Fact-274E667DD3850F2320BA5D5D91285CBE" name="us-gaap:LongTermDebt" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,580,130</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Unamortized premiums, discounts and debt issuance costs </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(i)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5437697e1182-wk-Fact-ED06276083B8BBF23CA65D5D90CED13D" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">6,551</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1197-wk-Fact-D1DAE53D8AE4B92C79BB5D5D90CC6C1F" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,870</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Current maturities </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(j)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1224-wk-Fact-3455D2DDD8126CBF2EEB5D5D9129A972" name="us-gaap:LongTermDebtCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,677</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1238-wk-Fact-8A01DCE8780CD577E4C05D5D9127B045" name="us-gaap:LongTermDebtCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">48,516</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1267-wk-Fact-77DD2D0B927B71C844B45D5D912A9B92" name="us-gaap:LongTermDebtNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,387,122</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1281-wk-Fact-7A65312F975DBA89C7B15D5D91299479" name="us-gaap:LongTermDebtNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,527,744</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(a)</span><span style="font-family:inherit;font-size:10pt;">On September 23, 2019, in order to fund the acquisition of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;), which included the prepayment of certain portions of the outstanding debt and lease obligations of Peak Resorts contemporaneous with the closing of the transaction (see Note 7, Acquisitions), the Company&#8217;s wholly-owned subsidiary, Vail Holdings, Inc. (&#8220;VHI&#8221;), entered into the Second Amendment to the Eighth Amended and Restated Credit Agreement (the &#8220;Vail Holdings Credit Agreement&#8221;), with Bank of America, N.A., as administrative agent, and other lenders named therein, through which those lenders agreed to provide an additional </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1329-wk-Fact-D8C4FFDCC27575A516A994296E0118D7" name="us-gaap:LineOfCreditFacilityIncreaseDecreaseForPeriodNet" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">335.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in incremental term loans and agreed, on behalf of all lenders, to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to September 23, 2024. No other material terms of the Vail Holdings Credit Agreement were altered under the amendment. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 28, 2020, VHI, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into a Third Amendment to the Vail Holdings Credit Agreement (the&#160;&#8220;Third Amendment&#8221;). Pursuant to the Third Amendment, among other terms, VHI is exempt from complying with the Vail Holdings Credit Agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless VHI makes a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#8220;Financial Covenants Temporary Waiver Period&#8221;), after which VHI will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by VHI). After the expiration of the Financial Covenants Temporary Waiver Period:</span></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter as follows:</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(A) first full fiscal quarter: 6.25 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(B) second full fiscal quarter: 5.75 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(C) third full fiscal quarter: 5.25 to 1.00; and</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.</span></div><div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. </span></div></td></tr></table></ix:continuation></ix:nonNumeric><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">88</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-1" continuedAt="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-2"><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-2" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-3"><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, VHI is required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under the Vail Holdings Credit Agreement revolver) of not less than </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1370-wk-Fact-D79B73B4798CE2C6B634942CFBD11170" name="mtn:VHICreditAgreementWaiverPeriodMinimumLiquidity" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">150.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, during the period that began on July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#8217; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the Lenders):</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1384-wk-Fact-EC09B5E6B807E98AD4FA942EDF6936FF" name="mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">400.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1388-wk-Fact-EA2068182F0B773826229430638A0FD9" name="mtn:VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">38.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in any fiscal quarter;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making capital expenditures in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1399-wk-Fact-70A0C5174575E729B9C494AC61BCE6E8" name="mtn:VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">200.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1417-wk-Fact-7201E36D3C5E1B8B1B6094AE726D565F" name="mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">300.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making investments in non-subsidiaries in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1428-wk-Fact-2C1D64B3BB659AB688B694B07841A560" name="mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">50.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in the aggregate; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1442-wk-Fact-0EF0BB42994E7C7D375AA2DCB9F0F01D" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-7" scale="9" format="ixt:numdotdecimal">2.25</ix:nonFraction> billion</span></span><span style="font-family:inherit;font-size:10pt;"> and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Credit Agreement). </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Vail Holdings Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1454-wk-Fact-5558900C7446019F658894B33ADEEA14" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">500.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility and a </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1458-wk-Fact-CCE9E81C60CC04BA8CDC94B4FED84D72" name="us-gaap:LineOfCredit" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-8" scale="9" format="ixt:numdotdecimal">1.2</ix:nonFraction> billion</span></span><span style="font-family:inherit;font-size:10pt;"> outstanding term loan facility. The term loan facility is subject to quarterly amortization of principal of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1462-wk-Fact-87D5CB56069AD13AC58294B6D44332CB" name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">15.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> (which began in January&#160;2020), in equal installments, for a total of 5% of principal payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due in September 2024. The proceeds of the loans made under the Vail Holdings Credit Agreement may be used to fund the Company&#8217;s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit, subject to the Financial Covenants Temporary Waiver Period limitations, as discussed above. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1471-wk-Fact-BB2B9915766C2A685F9594B872A8A08E" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanHedgedPortionMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">2.66</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 for $400.0 million of borrowings, and for amounts in excess of $400.0 million in which LIBOR is subject to a floor of 0.75% during the Financial Covenants Temporary Waiver Period, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1475-wk-Fact-750F0E6713D775F5CC3794BBF3C89A29" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanUnhedgedPortionMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">3.25</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). Other than as impacted by the provisions in place during the Financial Covenants Temporary Waiver Period, interest rate margins may fluctuate based upon the ratio of the Company&#8217;s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. The Vail Holdings Credit Agreement also includes a quarterly unused commitment fee, which is equal to a percentage determined by the Net Funded Debt to Adjusted EBITDA ratio, as each such term is defined in the Vail Holdings Credit Agreement, multiplied by the daily amount by which the Vail Holdings Credit Agreement commitment exceeds the total of outstanding loans and outstanding letters of credit (</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1483-wk-Fact-271163D5B5FD5CAC622EA2DDD6C66F4F" name="us-gaap:DebtInstrumentUnusedBorrowingCapacityFee" contextRef="FD2020Q4YTD" unitRef="usd" decimals="INF" scale="-2" format="ixt:numdotdecimal">0.4</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). During the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company entered into various interest rate swap agreements to hedge the LIBOR-based variable interest rate component of underlying cash flows of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1496-wk-Fact-DADF5702D68203E3EAD58AE1DBA6D46B" name="mtn:InterestRateSwapNotionalAmount" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">400.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in principal amount of its Vail Holdings Credit Agreement for the remaining term of the agreement at an effective rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1500-wk-Fact-F9A2B8993EAAAF84DCA494BD47F6EE4B" name="us-gaap:DerivativeFixedInterestRate" contextRef="FI2020Q4" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">1.46</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(b)</span><span style="font-family:inherit;font-size:10pt;">On May 4, 2020, the Company completed its offering of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1518-wk-Fact-4F669827E9E67D16C17B94C1638A92A8" name="us-gaap:ProceedsFromUnsecuredNotesPayable" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">600</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> aggregate principal amount of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1522-wk-Fact-46BC5846C7660EA0AEE294C221EAEA84" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">6.25</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> senior notes due 2025 at par (the &#8220;Notes&#8221;), and a portion of the net proceeds were utilized to pay down the outstanding balance of the revolver component of its Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining net proceeds intended to be used for general corporate purposes.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 </span></div></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">89</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-2" continuedAt="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-3"><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-3" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-4"><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#8220;Indenture&#8221;) plus accrued and unpaid interest. Prior to May 15, 2022, the Company may redeem some or all of the Notes at a redemption price of </span><span style="font-family:inherit;font-size:10pt;">100%</span><span style="font-family:inherit;font-size:10pt;"> of the principal amount, plus accrued and unpaid interest, plus a &#8220;make-whole&#8221; premium as specified in the Indenture.</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1536-wk-Fact-FF7343E7C517DD14903DA2E021E7C4A4" name="us-gaap:DebtInstrumentRedemptionDescription" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"> In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. </ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">The Notes are senior unsecured obligations of the Company, are guaranteed by certain of the Company&#8217;s domestic subsidiaries, and rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#8217;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(c)</span><span style="font-family:inherit;font-size:10pt;">Whistler Mountain Resort Limited Partnership (&#8220;Whistler LP&#8221;) and Blackcomb Skiing Enterprises Limited Partnership (&#8220;Blackcomb LP&#8221;), together &#8220;The WB Partnerships,&#8221; are party to a credit agreement, dated as of </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap"><ix:nonNumeric id="d5437697e1559-wk-Fact-E4AD1EBC23D6029344859A6F1911EAAC" name="us-gaap:LineOfCreditFacilityInitiationDate1" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" format="ixt:datemonthdayyearen">November 12, 2013</ix:nonNumeric></span></span></span><span style="font-family:inherit;font-size:10pt;"> (as amended, the &#8220;Whistler Credit Agreement&#8221;), by and among Whistler LP, Blackcomb LP, certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the &#8220;Whistler Subsidiary Guarantors&#8221;), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>C$<ix:nonFraction id="d5437697e1563-wk-Fact-9958434C89B405BBE7C894C72A000953" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" unitRef="cad" decimals="-5" scale="6" format="ixt:numdotdecimal">300.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility, and during the year ended July 31, 2020, the Company entered into an amendment of the Whistler Credit Agreement which extended the maturity date of the revolving credit facility to&#160;</span><span style="font-family:inherit;font-size:10pt;">December&#160;15, 2024</span><span style="font-family:inherit;font-size:10pt;">. No other material terms of the Whistler Credit Agreement were altered. The WB Partnerships&#8217; obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to&#160;C$75.0 million, subject to lender approval.&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1571-wk-Fact-1E6B55AE98B18F0F90E4A2E5DF802B23" name="us-gaap:LongTermDebtDescription" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#8217; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#8217; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#8217; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">.&#160;As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, all borrowings under the Whistler Credit Agreement were made in Canadian dollars and by way of the issuance of bankers&#8217; acceptances plus </span><span style="font-family:inherit;font-size:10pt;">2.25%</span><span style="font-family:inherit;font-size:10pt;"> (approximately </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1584-wk-Fact-94E64ACA886BD040B4E194C8C9B1B631" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">2.79</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is equal to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1596-wk-Fact-2E45F0B909DD5BBE0DEB94CAC9D60F0E" name="us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">0.5063</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum.&#160; The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships&#8217; ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(d)</span><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, in conjunction with the acquisition of Peak Resorts (see Note 7, Acquisitions), the Company assumed various secured borrowings (the &#8220;EPR Secured Notes&#8221;) under the master credit and security agreements and other related agreements, as amended, (collectively, the &#8220;EPR Agreements&#8221;) with EPT Ski Properties, Inc. and its affiliates (&#8220;EPR&#8221;). The EPR Secured Notes include the following:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">i.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Alpine Valley Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1622-wk-Fact-76A21CADB9E08A39CD8994CC669FBA6B" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">4.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> Alpine Valley Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1630-wk-Fact-A0050826B69AFD90FD2694D2B2A6C363" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">11.21</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">90</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-3" continuedAt="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-4"><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-4" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-5"><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">ii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Boston Mills/Brandywine Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1643-wk-Fact-915E9184F6D704F1CA6794CCD869EB99" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">23.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> Boston Mills/Brandywine Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1651-wk-Fact-5E7321B90E426351CB7294CE1BADD9F3" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">10.75</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Jack Frost/Big Boulder Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1664-wk-Fact-F18B4CDDFB907717801894CD3470B3E8" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">14.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> Jack Frost/Big Boulder Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1672-wk-Fact-CD8F55BDC96D14A0DBE094CE7E9C5C69" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">10.75</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iv.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Mount Snow Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1686-wk-Fact-3871E708DF1815E6E76E94CD50D0EA48" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">51.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> Mount Snow Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1694-wk-Fact-B864A9C577DF9A2042C794CF1AD065E5" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">11.78</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">v.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Hunter Mountain Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1707-wk-Fact-C6D4CF6FAAA6BD8D747294CD6DE5C0B6" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">21.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> Hunter Mountain Secured Note provides for interest payments through its maturity on January 5, 2036. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1715-wk-Fact-E96490C6181C756BA46E94CF3FC4BFE1" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">8.57</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The EPR Secured Notes are secured by all or substantially all of the assets of Peak Resorts and its subsidiaries, including mortgages on the Alpine Valley, Boston Mills, Brandywine, Jack Frost, Big Boulder, Mount Snow and Hunter Mountain ski resorts. The EPR Secured Notes bear interest at specified interest rates, as discussed above, which are subject to increase each year by the lesser of (i) three times the percentage increase in the Consumer Price Index or (ii) a capped index (the &#8220;Capped CPI Index&#8221;), which is </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1722-wk-Fact-959F7A790178B732EAE494D87A2CC7C7" name="mtn:AnnualInterestRateIncreaseCap" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">1.75</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> for the Hunter Mountain Secured Note and </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1726-wk-Fact-5BE433B493322B9C243C94D945514350" name="mtn:AnnualInterestRateIncreaseCap" contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">1.50</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> for all other notes. The EPR Agreements provide for affirmative and negative covenants that restrict, among other things, the ability of Peak Resorts and its subsidiaries to incur indebtedness, dispose of assets, make distributions and make investments. In addition, the EPR Agreements include restrictive covenants, including maximum leverage ratio and consolidated fixed charge ratio. An additional contingent interest payment would be due to EPR if, on a calendar year basis, the gross receipts from the properties securing any of the individual EPR Secured Notes (the &#8220;Gross Receipts&#8221;) are more than the result (the &#8220;Interest Quotient&#8221;) of dividing the total interest charges for the EPR Secured Notes by a specified percentage rate (the &#8220;Additional Interest Rate&#8221;). In such a case, the additional interest payment would equal the difference between the Gross Receipts and the Interest Quotient multiplied by the Additional Interest Rate. This calculation is made on an aggregated basis for the notes secured by the Jack Frost, Big Boulder, Boston Mills, Brandywine and Alpine Valley ski resorts, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1730-wk-Fact-AA23979C67E1EB23691594DB325A11CF" name="mtn:EPRAdditionalInterestRate" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">10.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">; on a standalone basis for the note secured by the Company&#8217;s Mount Snow ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1734-wk-Fact-79CE603E3DB05F7DD8ED94DC5CC14375" name="mtn:EPRAdditionalInterestRate" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_MountSnowSecuredNoteMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">12.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">; and on a standalone basis for the note secured by the Company&#8217;s Hunter Mountain ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1738-wk-Fact-6C6629EFC07D9198836C94DD590C08AA" name="mtn:EPRAdditionalInterestRate" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_HunterMountainSecuredNoteMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">8.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. Peak Resorts does not have the right to prepay the EPR Secured Notes. The EPR Secured Notes were recorded at their estimated fair value in conjunction with the acquisition of Peak Resorts on September 24, 2019. The EPR Agreements grant EPR certain other rights including (i) the option to purchase the Boston Mills, Brandywine, Jack Frost, Big Boulder or Alpine Valley resorts, which is exercisable no sooner than two years and no later than one year prior to the maturity dates of the applicable EPR Secured Note for such properties, with any closings to be held on the applicable maturity dates; and, if EPR exercises the purchase option, EPR will enter into an agreement with the Company for the lease of each acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each; (ii) a right of first refusal through 2021, subject to certain conditions, to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by Peak Resorts with respect to any new or existing ski resort properties; and (iii) a right of first refusal through 2021 to purchase the Company&#8217;s Attitash ski resort in the event the Company were to desire to sell the Attitash ski resort. To date, EPR has not exercised any such purchase options. </span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, Peak Resorts is required to maintain a debt service reserve account which amounts are applied to fund interest payments and other amounts due and payable to EPR. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> the Company had funded the EPR debt service reserve account in an amount equal to approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1749-wk-Fact-3E1EE74912AFA722797594DF38584712" name="mtn:DebtServiceReserve" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">5.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which was included in other current assets in the Company&#8217;s Consolidated Balance Sheet.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(e)</span><span style="font-family:inherit;font-size:10pt;">Peak Resorts serves as the general partner for two limited partnerships, Carinthia Group 1, LP and Carinthia Group 2, LP (together, the &#8220;Carinthia Partnerships&#8221;), which were formed to raise </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1760-wk-Fact-F467289AB2171BA5FBCD94E18354CE01" name="us-gaap:DebtInstrumentFaceAmount" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">52.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> through the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services (&#8220;USCIS&#8221;), pursuant to the Immigration and Nationality Act (the &#8220;EB-5 Program&#8221;). The EB-5 Program was created to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. The program allocates immigrant visas to qualified individuals (&#8220;EB-5 Investors&#8221;) seeking lawful permanent resident status based on their investment in a U.S commercial enterprise. On December 27, 2016, Peak Resorts borrowed </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1764-wk-Fact-F467289AB2171BA5FBCD94E18354CE01" name="us-gaap:DebtInstrumentFaceAmount" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">52.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> from the Carinthia Partnerships to fund two capital projects at Mount Snow. The amounts were borrowed through two loan agreements, which provided </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1768-wk-Fact-B83F31F00068787D32E594E4670E76A1" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes1Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">30.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e1772-wk-Fact-51B9E1D424EB75B583F194E60C41E5D7" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes2Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">22.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> (together, the &#8220;EB-5 Development Notes&#8221;). Amounts outstanding under the EB-5 Development Notes accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1776-wk-Fact-44BA2A622FBC2F88789A94E660378E04" name="us-gaap:LongTermDebtPercentageBearingFixedInterestRate" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">1.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum until the maturity date, which is December 27, 2021, subject to an extension of up to two additional years at the option of the borrowers, with lender consent. If the maturity date is extended, amounts outstanding under the EB-5 Development Notes will accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1781-wk-Fact-1A7BEA0B81C3184AEDC794E7B482C7D4" name="us-gaap:LongTermDebtPercentageBearingFixedInterestRate" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear1Member" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">7.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the first year of extension and a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1785-wk-Fact-B166101B043D8DDC8ED394E96F58146C" name="us-gaap:LongTermDebtPercentageBearingFixedInterestRate" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear2Member" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">10.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the second year of extension. Upon an event of default (as defined), amounts outstanding </span></div></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">91</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-4" continuedAt="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-5"><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-5" continuedAt="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-6"><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">under the EB-5 Development Notes shall bear interest at the rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1796-wk-Fact-40A54792454CF1A754E494EC33F12916" name="us-gaap:LongTermDebtPercentageBearingFixedInterestRate" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_EventofDefaultMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">5.0</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum, subject to the extension increases. While the EB-5 Development Notes are outstanding, Peak Resorts is restricted from taking certain actions without the consent of the lenders, including, but not limited to, transferring or disposing of the properties or assets financed with loan proceeds. In addition, Peak Resorts is prohibited from prepaying outstanding amounts owed if such prepayment would jeopardize any of the EB-5 Investors from being admitted to the U.S. via the EB-5 Program.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(f)</span><span style="font-family:inherit;font-size:10pt;">The Company has recorded the outstanding debt of four Employee Housing Entities (each an &#8220;Employee Housing Entity&#8221; and collectively the &#8220;Employee Housing Entities&#8221;): Breckenridge Terrace, Tarnes, BC Housing and Tenderfoot. The proceeds of the Employee Housing Bonds were used to develop apartment complexes designated primarily for use by the Company&#8217;s seasonal employees at its Colorado mountain resorts. The Employee Housing Bonds are variable rate, interest-only instruments with interest rates tied to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1811-wk-Fact-50504E8D319E0730B59C5D5D91248D85" name="us-gaap:DebtInstrumentDescriptionOfVariableRateBasis" contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">LIBOR plus 0% to 0.1%</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1815-wk-Fact-E6060DC421BD841DFDED5D5D91146E47" name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">0.17</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1819-wk-Fact-D0ECD7E56294734E490C5D5D911F26B0" name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">0.27</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">).</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;text-indent:0px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on the Employee Housing Bonds is paid monthly in arrears and the interest rate is adjusted weekly. No principal payments are due on the Employee Housing Bonds until maturity. Each Employee Housing Entity&#8217;s bonds were issued in two series. The bonds for each Employee Housing Entity are backed by letters of credit issued under the Vail Holdings Credit Agreement. The table below presents the principal amounts outstanding for the Employee Housing Bonds as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):&#160;&#160;&#160;&#160;</span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.484375%;border-collapse:collapse;text-align:left;"><tr><td colspan="11"></td></tr><tr><td style="width:36%;"></td><td style="width:16%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Maturity&#160;(a)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;A</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;B</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge Terrace</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1919-wk-Fact-DA4ADDECAB02E290752D5D5D9184014A" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">2039</ix:nonNumeric></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1929-wk-Fact-DE1D8DB79CFA3CF2D0355D5D91799130" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">14,980</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1943-wk-Fact-ABD1542CBD221673F8605D5D917A3AD6" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1957-wk-Fact-53F360CF0177CB8E63135D5D91811E68" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,980</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tarnes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e1972-wk-Fact-13B8A035FA16A29D384F5D5D91817B32" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">2039</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1977-wk-Fact-D1772EF926E4B920926C5D5D917CE11C" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">8,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e1991-wk-Fact-AF518C88EFD4DADF182F5D5D917EA90B" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,410</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2005-wk-Fact-3A28A0EC87BBD9339FA95D5D9182087A" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,410</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">BC Housing</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2025-wk-Fact-AB73FB455A54A519C5D35D5D918370E6" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">2027</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2030-wk-Fact-89B02937004027E3E3575D5D917C48F6" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,100</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2044-wk-Fact-95CC88EC9DFCB8BA24895D5D917F4F85" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2058-wk-Fact-6BFC8B550B504DF3BDCB5D5D9186CF37" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,600</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tenderfoot</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2078-wk-Fact-DC5D13E49BA8F76AC8045D5D9179D752" name="mtn:DebtInstrumentYearofMaturity" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">2035</ix:nonNumeric></span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2083-wk-Fact-EBC18E24C8FC7F96B66B5D5D918773F8" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,700</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2097-wk-Fact-102DDDE856196F423C7E5D5D9185E252" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,885</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2111-wk-Fact-2CBC0269A71D1E3C25965D5D917BCCE5" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">11,585</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2141-wk-Fact-87AB6CE1225D5007F3D25D5D91786105" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">37,780</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2155-wk-Fact-1D7E76D7531DC1676BCC5D5D917DEF69" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">14,795</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2169-wk-Fact-A0EFE6B59E8F9DCCBE4C5D5D912704AE" name="us-gaap:LongTermDebt" contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">52,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(g)</span><span style="font-family:inherit;font-size:10pt;">On </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap"><ix:nonNumeric id="d5437697e2208-wk-Fact-6F1E72DD1E8DA767F6D85D5D91133957" name="us-gaap:BusinessAcquisitionEffectiveDateOfAcquisition1" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" format="ixt:datemonthdayyearen">May 24, 2013</ix:nonNumeric></span></span></span><span style="font-family:inherit;font-size:10pt;">, VR CPC Holdings, Inc. (&#8220;VR CPC&#8221;), a wholly-owned subsidiary of the Company, entered into a transaction agreement with affiliate companies of Talisker Corporation (&#8220;Talisker&#8221;) pursuant to which the parties entered into a master lease agreement (the &#8220;Lease&#8221;) and certain ancillary transaction documents on May 29, 2013 related to the former stand-alone Canyons Resort (&#8220;Canyons&#8221;), pursuant to which the Company assumed the resort operations of the Canyons. The Lease between VR CPC and Talisker has an initial term of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2212-wk-Fact-989EE1F42090542EB0545D5D9116FB5A" name="mtn:InitialCapitalLeaseTerm" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">50 years</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> with </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2216-wk-Fact-2C7E702B180E1410B87B5D5D9112A326" name="mtn:OptionalLeaseRenewalTerm" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">six 50-year renewal options</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">. The Lease provides for </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2220-wk-Fact-13D6A1AEA03C451A18F15D5D9123E1B8" name="mtn:MinimumCapitalLeasePaymentAnnual" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-6" scale="6" format="ixt:numdotdecimal">25</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> in annual payments, which increase each year by an </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2224-wk-Fact-30EAE84C571CCD0D56255D5D9120BD36" name="mtn:AdjustmentsToCapitalLeaseAnnualPayments" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">inflation-linked index of CPI less 1% per annum, with a floor of 2%</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">. Vail Resorts has guaranteed the payments under the Lease. The obligation at </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> represents future lease payments for the remaining initial lease term of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5437697e2233-wk-Fact-989EE1F42090542EB0545D5D9116FB5A" name="mtn:InitialCapitalLeaseTerm" contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">50 years</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> (including annual increases at the floor of 2%) discounted using an interest rate of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2237-wk-Fact-7D173403BFFBF95B888A5D5D911ABAED" name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">10</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">, and includes accumulated accreted interest expense of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2241-wk-Fact-59316D38DB64837991515D5D9125480E" name="us-gaap:AccretionExpense" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">40.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(h)</span><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2019, the Company completed two real estate sales transactions that were accounted for as financing arrangements as a result of the Company&#8217;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. The Company received approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2270-wk-Fact-82FC843574CD5E18F3495D5D9112E19C" name="us-gaap:SaleLeasebackTransactionNetProceedsFinancingActivities" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">11.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of proceeds for these sales transactions during the year ended July 31, 2019, which are reflected within long-term debt, net. Other obligations also consist of a </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2279-wk-Fact-3AB1706B105B1B4269B95D5D9112BAEE" name="us-gaap:DebtInstrumentCarryingAmount" contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> note outstanding to the Colorado Water Conservation Board, which matures on </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap"><ix:nonNumeric id="d5437697e2283-wk-Fact-B1D9D32E80690AE218C55D5D9120F5EF" name="us-gaap:DebtInstrumentMaturityDate" contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" format="ixt:datemonthdayyearen">September 16, 2028</ix:nonNumeric></span></span></span><span style="font-family:inherit;font-size:10pt;">, and other financing arrangements. Other obligations, including the Colorado Water Conservation Board note, bear interest at rates ranging from </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2287-wk-Fact-38903FB5238FD1C241F15D5D911B3A22" name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">5.1</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2291-wk-Fact-EABB4EB30D2BE432380D5D5D91279C2D" name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">5.5</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(i)</span><span style="font-family:inherit;font-size:10pt;">In connection with the acquisition of Peak Resorts, the Company estimated the acquisition date fair values of the debt instruments assumed, including the EPR Secured Notes and the EB-5 Development Notes, and recorded any difference between such estimated fair values and the par value of debt instruments as unamortized premiums and discounts, which is amortized and recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. Additionally, certain costs incurred with regard to the issuance of debt instruments are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(j)</span><span style="font-family:inherit;font-size:10pt;">Current maturities represent principal payments due in the next </span><span style="font-family:inherit;font-size:10pt;">12 months</span><span style="font-family:inherit;font-size:10pt;">, and exclude approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2339-wk-Fact-9B5DA1B6B66B7641C0645D5D91174ED3" name="us-gaap:ProceedsFromSaleOfOtherRealEstate" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">92</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-6"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" id="TextSelection-AAD9559F7D790FF4857A5D5D91DEAD49-0-wk-Fact-74E9F74D7A52F94021AA5D5D9128B093" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><ix:continuation id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-5"></ix:continuation>Aggregate maturities for debt outstanding, including capital lease obligations, as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:84%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2425-wk-Fact-EC8BBC88B932B8D4B50E5D5D91330591" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">69,827</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2440-wk-Fact-16BBDF9693CFB1F2235A5D5D9138FCD7" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">115,195</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2460-wk-Fact-F415B6199781AB4CAE525D5D91370867" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,740</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2480-wk-Fact-0F653D93FC71D087E9FB5D5D913EA7EA" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,796</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2500-wk-Fact-57C949D0BC21C3F523D75D5D9135FB38" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,612,120</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2520-wk-Fact-3B0879C4D46FB187C7BA5D5D91442989" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">519,570</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5437697e2545-wk-Fact-501739AF09CD680C9A795D5D9126F51D" name="us-gaap:LongTermDebt" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,444,248</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> (1) Includes approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2567-wk-Fact-9B5DA1B6B66B7641C0645D5D91174ED3" name="us-gaap:ProceedsFromSaleOfOtherRealEstate" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recorded interest expense of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2575-wk-Fact-ECD0A800C242E36F76495D5D9126CFAF" name="us-gaap:InterestExpenseDebt" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">106.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2579-wk-Fact-CB007DB821A7413F12B35D5D9111535B" name="us-gaap:InterestExpenseDebt" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">79.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2583-wk-Fact-2CCC32F7849B5FAFACB15D5D911CDB5B" name="us-gaap:InterestExpenseDebt" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">63.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2600-wk-Fact-7A42C77CA897E958F46B5D5D91264DA0" name="us-gaap:AmortizationOfFinancingCosts" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2604-wk-Fact-539DD4091FEAFFD4C7775D5D91100232" name="us-gaap:AmortizationOfFinancingCosts" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2608-wk-Fact-5CEA19734F9B916760115D5D911762D1" name="us-gaap:AmortizationOfFinancingCosts" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, was amortization of deferred financing costs. The Company was in compliance with all of its financial and operating covenants required to be maintained under its debt instruments for all periods presented.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In connection with the acquisition of Whistler Blackcomb, VHI funded a portion of the purchase price through an intercompany loan to Whistler Blackcomb of&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2615-wk-Fact-91274585CD0E84C481BC5D5D911E27A1" name="us-gaap:IntercompanyForeignCurrencyBalanceAmount" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">210.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which was effective as of November 1, 2016 and&#160;requires foreign currency remeasurement to Canadian dollars, the functional currency for Whistler Blackcomb. As a result, foreign currency fluctuations associated with the loan are recorded within the Company&#8217;s results of operations. The Company recognized approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2619-wk-Fact-D5317757B6903934F7A95D5D91139120" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" sign="-" format="ixt:numdotdecimal">3.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2623-wk-Fact-CE17298C6317A852046B5D5D913D602D" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" sign="-" format="ixt:numdotdecimal">2.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5437697e2627-wk-Fact-C2F8FD1051999F0FAE045D5D911A73F2" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" sign="-" format="ixt:numdotdecimal">9.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of non-cash foreign currency loss on the intercompany loan to Whistler Blackcomb during the years ended July 31, 2020, 2019 and 2018, respectively, on the Company&#8217;s Consolidated Statements of Operations.</span></div></ix:continuation><div><a id="sC536D6F7AE13599D9DB46F42E2109928"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">7. &#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:BusinessCombinationDisclosureTextBlock" id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-0-wk-Fact-2FB5583139255C86286B5D5D91179030" continuedAt="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-1" escape="true">Acquisitions</ix:nonNumeric></span></div><ix:continuation id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-1" continuedAt="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Peak Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, the Company, through a wholly-owned subsidiary, acquired 100% of the outstanding stock of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;) at a purchase price of&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e684-wk-Fact-F8A8227912ED8B62665D97C13922440D" name="us-gaap:BusinessAcquisitionSharePrice" contextRef="I2020Q1PeakAcquisition_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">11.00</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> per share or approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e688-wk-Fact-101561B686DD57231B1397C2BF2792B6" name="mtn:BusinessCombinationCashConsiderationTransferred" contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">264.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. In addition, contemporaneous with the closing of the transaction, Peak Resorts was required to pay approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e692-wk-Fact-1295A7B144A9FA29FA9C97C3C07DEE86" name="us-gaap:BusinessCombinationConsiderationTransferredOther1" contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">70.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of certain outstanding debt instruments and lease obligations in order to complete the transaction. Accordingly, the total purchase price, including the repayment of certain outstanding debt instruments and lease obligations, was approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e696-wk-Fact-93C7A5999900992C333497C498127BCE" name="us-gaap:BusinessCombinationConsiderationTransferred1" contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">334.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, for which the Company borrowed approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e700-wk-Fact-EE02BFE86FDB9BD48E3797C52C387436" name="us-gaap:ProceedsFromRepaymentsOfDebt" contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">335.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> under the Vail Holdings Credit Agreement (see Note 6, Long-Term Debt) to fund the acquisition, repayment of debt instruments and lease obligations, and associated acquisition related expenses. The newly acquired resorts include: Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire; Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana. The Company assumed the Special Use Permits from the U.S. Forest Service for Attitash, Mount Snow and Wildcat Mountain, and assumed the land leases for Mad River and Paoli Peaks. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities), as well as lodging operations at certain resorts.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">93</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-2" continuedAt="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-3"><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" name="us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" id="TextSelection-CF0B2B03E6A363AD7D57B21808387EBC-0-wk-Fact-AF6A593AA84CC252313DB21854A6591C" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e754-wk-Fact-46788DDF2BC32F1973FC97C62D7F0569" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,578</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e769-wk-Fact-1CDCAEBC3B6B80AFBABF97C62EB5FCA5" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">427,793</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e789-wk-Fact-B33A8718EA01E7B978C897C630015DCE" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">135,879</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e809-wk-Fact-DC3F1D01A03C373C878C97C6314E154B" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,221</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e829-wk-Fact-73E22710F182E969A03297C74BE2885C" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,203</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assumed long-term debt</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5436313e849-wk-Fact-63CE40AABB69252E678497C77EE8238D" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">184,668</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5436313e870-wk-Fact-784C8709D56EB90DABBF97C7B2B11228" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">99,275</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e896-wk-Fact-EB80387CCE80B815E2BB97C7E762CFE3" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">334,731</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the three months ended July 31, 2020, the Company recorded measurement period adjustments of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e905-wk-Fact-F2A9DD69896CE4E42066A2EBD697A5FE" name="us-gaap:GoodwillPurchaseAccountingAdjustments" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">8.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily related to the finalization of pre-acquisition period tax returns for Peak Resorts, which decreased deferred income taxes, net (included in other liabilities in the table above) with a corresponding decrease to goodwill, net.</span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to trade names and property management contracts, which had acquisition date estimated fair values of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e913-wk-Fact-21D074ADEAB8304FD9F597CCC4448D88" name="us-gaap:IndefiniteLivedTradeNames" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">15.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e917-wk-Fact-696AA46A2CD029FE472B97CE08773C55" name="mtn:IndefiniteLivedPropertyManagementContracts" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The process of estimating the fair value of the depreciable property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost. The excess of the purchase price over the aggregate estimated fair values of the assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is not expected to be deductible for income tax purposes. The Company assumed various debt obligations of Peak Resorts, which were recorded at their respective estimated fair values as of the acquisition date (see Note 6, Long-Term Debt). The Company incurred </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e921-wk-Fact-645620E6301ED6C7D4FE97CEC28BE5F8" name="us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of acquisition related expenses associated with the transaction which were recorded within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2020. The operating results of Peak Resorts are reported within the Mountain and Lodging segments prospectively from the date of acquisition.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The estimated fair values of assets acquired and liabilities assumed in the acquisition of Peak Resorts are preliminary and are based on the information that was available as of the acquisition date. The Company believes that this information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the Company is obtaining additional information necessary to finalize those estimated fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. The Company expects to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">94</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-3" continuedAt="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-4"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Falls Creek and Hotham Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 4, 2019, the Company, through a wholly-owned subsidiary, acquired ski field leases and related infrastructure used to operate two resorts in Victoria, Australia. The Company acquired Australian Alpine Enterprises Holdings Pty. Ltd and all related corporate entities that operate the Falls Creek and Hotham resorts from Living and Leisure Australia Group, a subsidiary of Merlin Entertainments, for a cash purchase price of approximately AU</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e934-wk-Fact-D320E8DA82DE6EE39C275D5D912A9109" name="us-gaap:BusinessCombinationConsiderationTransferred1" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="aud" decimals="-5" scale="6" format="ixt:numdotdecimal">178.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e938-wk-Fact-BE484001C001498DB5205D5D9123AD02" name="mtn:BusinessCombinationCashConsiderationTransferred" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">127.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">), after adjustments for certain agreed-upon terms, including an increase in the purchase price for operating losses incurred for the period from December 29, 2018 through closing. The acquisition included the mountain operations of both resorts, including base area skier services (ski and snowboard school facilities, retail and rental, reservation and property management operations).</span></div><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" name="us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" id="TextSelection-5B866197FCCCD6ADF12A5D5D91DE2787-0-wk-Fact-FF1BA57B495FFC6323445D5D911D54DB" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e996-wk-Fact-BBF07A8364DB7B9A865D5D5D9116053B" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">6,986</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1011-wk-Fact-5D99D6A93682899F7A8E5D5D91168CFC" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">54,889</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1031-wk-Fact-B0C9A707052DD083DA205D5D9116567F" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">71,538</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets and other assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1051-wk-Fact-1973C371740DC4B1C4305D5D9116E741" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5436313e1071-wk-Fact-CC57AEE91ABB587254BF5D5D9116EBB4" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">11,894</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1097-wk-Fact-4AF4F0D97607C03E47E25D5D9116D7BE" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">127,352</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Falls Creek and Hotham and other factors. None of the goodwill is expected to be deductible for income tax purposes under Australian tax law. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1111-wk-Fact-FA17CBFBFDC141E6E7EA5D5D912952A1" name="us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">4.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of acquisition related expenses associated with the transaction, including stamp duty expense of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1115-wk-Fact-0D710A1C2D3139713F185D5D91201FB4" name="mtn:StampDutyExpense" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Falls Creek and Hotham are reported within the Mountain segment prospectively from the date of acquisition.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Stevens Pass Resort</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On&#160;August&#160;15, 2018, the Company, through a wholly-owned subsidiary, acquired Stevens Pass Resort in the State of Washington from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate (&#8220;Ski Resort Holdings&#8221;), for total cash consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1125-wk-Fact-82054FE506CAA0C2F4835D5D912273AE" name="mtn:BusinessCombinationCashConsiderationTransferred" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">64.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, after adjustments for certain agreed-upon terms. The Company borrowed&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1129-wk-Fact-E1C1D4924C079485775B5D5D91164BB5" name="us-gaap:ProceedsFromRepaymentsOfDebt" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">70.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;on August 15, 2018 under its Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The acquisition included the mountain operations of the resort, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). </span></div><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" name="us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" id="TextSelection-C2D9C399F111835061315D5D91DE8F9E-0-wk-Fact-CED676F678DFD3452DDB5D5D9119638C" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1186-wk-Fact-AB63CB3139E6C54154595D5D90E93CCD" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">752</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1201-wk-Fact-59C343DBF41884EE13475D5D90E9CD9C" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">34,865</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1221-wk-Fact-D91B4C78647415AEEC945D5D90E500D4" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,878</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1241-wk-Fact-171FB04B0DE6F45030EA5D5D90E85E2A" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,680</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1261-wk-Fact-32C12FF74B548C6444A95D5D90E97D62" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">886</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5436313e1281-wk-Fact-14CAC931C35B98DD81DE5D5D90E305CF" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,029</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1307-wk-Fact-CA1FBC6179C514AFE6A45D5D90E7995A" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">64,032</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">95</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-4" continuedAt="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-5"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Stevens Pass and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1321-wk-Fact-28D96F9ADB0E27AB424A5D5D91264C2D" name="us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Stevens Pass are reported within the Mountain segment prospectively from the date of acquisition.</span></div><div style="line-height:174%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Triple Peaks</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On&#160;September&#160;27, 2018, the Company, through a wholly-owned subsidiary, acquired Triple Peaks, LLC (&#8220;Triple Peaks&#8221;), the parent company of Okemo Mountain Resort in Vermont, Crested Butte Mountain Resort in Colorado, and Mount Sunapee Resort in New Hampshire, for a cash purchase price of approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1331-wk-Fact-C8B196DCDCE0AA42169A5D5D91185E07" name="mtn:BusinessCombinationCashConsiderationTransferred" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">74.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, after adjustments for certain agreed-upon terms. In addition, contemporaneous with the closing of the transaction, Triple Peaks paid&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1335-wk-Fact-327760AD19B12C6DF7B85D5D91219576" name="us-gaap:BusinessCombinationConsiderationTransferredOther1" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">155.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;to pay the remaining obligations of the leases that all three resorts had with Ski Resort Holdings, with funds provided by the Company. Accordingly, the total purchase price, including the repayment of lease obligations, was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1339-wk-Fact-1A733A87AB3BC3196A0B5D5D91294B48" name="us-gaap:BusinessCombinationConsiderationTransferred1" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">229.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, for which the Company utilized cash on hand and borrowed </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1343-wk-Fact-5B338B3642C902C7FA345D5D9125713E" name="us-gaap:ProceedsFromRepaymentsOfDebt" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">195.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> under the Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The Company obtained a new Special Use Permit from the U.S. Forest Service for Crested Butte, and assumed the state land leases for Okemo and Mount Sunapee. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). </span></div><ix:nonNumeric contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" name="us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" id="TextSelection-6776D45F7861799FDA015D5D91DEC54F-0-wk-Fact-8009E55DC60380D9628F5D5D912AFCD3" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1400-wk-Fact-E9205F1EBB641A6C31565D5D91B99E8F" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,197</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1415-wk-Fact-D6E6162F014A8DA1F33E5D5D91BA4898" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">159,799</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1435-wk-Fact-485135768C6FD2E262555D5D91B50EBF" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">51,742</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1455-wk-Fact-5FCF2CCFB41298E9E7115D5D91B79E72" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,360</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1475-wk-Fact-3A8846174EA4989FEFE35D5D91B68DC2" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,093</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5436313e1495-wk-Fact-506ED173EB96A7C254A35D5D91B8EDBB" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,098</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1521-wk-Fact-805227CDDB7BD03ADD805D5D91B93E2A" name="us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">229,093</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to property management contracts and trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5436313e1536-wk-Fact-CC4B072ACD9216FE902A5D5D911B3E8E" name="us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Triple Peaks are reported within the Mountain and Lodging segments prospectively from the date of acquisition.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:BusinessAcquisitionProFormaInformationTextBlock" id="TextSelection-75C14BBAC3A15AD006B95D5D91DFEA7D-0-wk-Fact-98BF5CD62405111524BF5D5D91175792" continuedAt="TextSelection-75C14BBAC3A15AD006B95D5D91DFEA7D-1" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Pro Forma Financial Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).</span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">96</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-75C14BBAC3A15AD006B95D5D91DFEA7D-1"><ix:continuation id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-5"><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:60%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1677-wk-Fact-54388CEF6A603FF940785D5D918C22CD" name="us-gaap:BusinessAcquisitionsProFormaRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,970,363</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1691-wk-Fact-753F62A1B6DD98F0D38B5D5D91901BA5" name="us-gaap:BusinessAcquisitionsProFormaRevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,490,809</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1711-wk-Fact-0FE889C4D2B296242BB15D5D90E853A2" name="us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">100,205</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1725-wk-Fact-48F8A274B9DAC9ABA77B5D5D90E618E0" name="us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,234</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma basic net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1745-wk-Fact-BB25A41137BF7A4FDBF25D5D91902372" name="us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.49</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1759-wk-Fact-59430934AF80FBF061F15D5D90E53A1B" name="us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.47</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1779-wk-Fact-5DFF7603FE8B9687B4295D5D90E68842" name="us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.45</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5436313e1793-wk-Fact-C5F91A8422B8BE3E3EDA5D5D90E7C05D" name="us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.32</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:continuation><div><a id="s844A7A86B4A3542E97DF9B031E5D3FA1"></a></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">8.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:SupplementalBalanceSheetDisclosuresTextBlock" id="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-0-wk-Fact-076BBD6D7FB21C66AE905D5D917C91D5" continuedAt="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-1" escape="true">Supplementary Balance Sheet Information</ix:nonNumeric></span></div><ix:continuation id="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-1" continuedAt="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-2"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:PropertyPlantAndEquipmentTextBlock" id="TextSelection-A2C53C0E44A92C46C0FD5D5D91DFE599-0-wk-Fact-E09E9858D6258308A30E5D5D917F5918" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of property, plant and equipment, including capital lease assets, follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land and land improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e791-wk-Fact-B34A4E2FAAE6508AF2245D5D9192D348" name="mtn:LandAndLandImprovementsGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">750,714</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e805-wk-Fact-C8FC902998B751DF20785D5D919C34FB" name="mtn:LandAndLandImprovementsGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">619,561</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e820-wk-Fact-3DC507CBDBAEEA6B4FDA5D5D919259CE" name="us-gaap:BuildingsAndImprovementsGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,475,661</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e834-wk-Fact-55AD4EB77B4BA5B480475D5D919D0427" name="us-gaap:BuildingsAndImprovementsGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,284,438</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e854-wk-Fact-06EAC5017B3639A666045D5D919CAEBB" name="us-gaap:MachineryAndEquipmentGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,361,178</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e868-wk-Fact-173021E1E416155E965C5D5D919F0981" name="us-gaap:MachineryAndEquipmentGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,160,817</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e888-wk-Fact-EC2EDE32778D93BE338B5D5D9198D9A1" name="us-gaap:FurnitureAndFixturesGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">308,267</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e902-wk-Fact-7C262ACDF6D9DB5DAA7B5D5D919EFEA3" name="us-gaap:FurnitureAndFixturesGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">309,271</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e922-wk-Fact-1FAD6D8A624D191CD9515D5D919C44E9" name="us-gaap:CapitalizedComputerSoftwareGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">104,223</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e936-wk-Fact-D4345695B4FBA6C0BC405D5D91968547" name="us-gaap:CapitalizedComputerSoftwareGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">118,815</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e956-wk-Fact-3B52DBF621CE44B48F495D5D91931490" name="mtn:VehiclesGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">80,510</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e970-wk-Fact-C46543C0CB8CC386B2685D5D919D13C3" name="mtn:VehiclesGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">65,556</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Construction in progress</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e990-wk-Fact-39AFCAAD66D4F04145C75D5D919B4E24" name="us-gaap:ConstructionInProgressGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">81,967</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1004-wk-Fact-A1E0A1E5A6A8435A19445D5D9191081B" name="us-gaap:ConstructionInProgressGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">79,282</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1024-wk-Fact-E6EE8A67312F949B59415D5D919F83B8" name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,162,520</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1038-wk-Fact-AB1E6439E1921739D3DD5D5D9194517D" name="us-gaap:PropertyPlantAndEquipmentGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,637,740</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1058-wk-Fact-017CA9B371BBD4C990045D5D91991777" name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,969,841</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1073-wk-Fact-D97478B0DFA693A481515D5D919E708B" name="us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,795,240</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1100-wk-Fact-64306ED28AA8F0789DF35D5D910EC878" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,192,679</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1114-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,842,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation expense, which included depreciation of assets recorded under capital leases, for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> totaled </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e1147-wk-Fact-097E9D080BDBD9FC95A05D5D91831926" name="us-gaap:Depreciation" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">243.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e1151-wk-Fact-B7EC3A1A1558509E1C1A5D5D917CF6DB" name="us-gaap:Depreciation" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">210.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e1156-wk-Fact-E873E2E53A697F7DAEE65D5D9182DF4A" name="us-gaap:Depreciation" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">199.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table summarizes the composition of property, plant and equipment recorded under finance leases as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1270-wk-Fact-8CD1DC0BDF0AD81D924880BBF057583A" name="mtn:CapitalLeasedAssetsLand" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">31,818</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1284-wk-Fact-E7B36C3A7FE02A62E31480BBF05E8BD9" name="mtn:CapitalLeasedAssetsLand" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">31,818</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1299-wk-Fact-109EC45750B08E6F5CF480BBF068A313" name="mtn:CapitalLeasedAssetsLandImprovements" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">49,228</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1313-wk-Fact-1D1FEDC84DEF0E19427280BBF08029B0" name="mtn:CapitalLeasedAssetsLandImprovements" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">49,228</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1333-wk-Fact-58353317622166438D4C80BBF06376DE" name="mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,160</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1347-wk-Fact-A19EC93F96559B40875080BBF04EE1E0" name="mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,160</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1367-wk-Fact-4A9E64637EFCC2154ADA80BBF08AAC44" name="mtn:CapitalLeasedAssetsMachineryandEquipment" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">60,384</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1381-wk-Fact-34135168BE553222384A80BBF08F397D" name="mtn:CapitalLeasedAssetsMachineryandEquipment" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">60,384</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1401-wk-Fact-5EAEE8F36B871311B5F580BBF0850AC7" name="us-gaap:CapitalLeasedAssetsGross" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">183,590</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1415-wk-Fact-AD278BA489D5FDBF990580BBF076FB5F" name="us-gaap:CapitalLeasedAssetsGross" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">183,590</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1435-wk-Fact-91EDE5E8945E75BB2E2480BBF07C5427" name="mtn:CapitalLeasedAssetsAccumulatedDepreciation" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">65,792</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1450-wk-Fact-ACE4C589E4C4D7BB552B80BBF09397C6" name="mtn:CapitalLeasedAssetsAccumulatedDepreciation" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">56,040</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1476-wk-Fact-C6ECDDFD842E9C90E06D80BBF0717F34" name="mtn:CapitalLeasedAssetsNet" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">117,798</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1490-wk-Fact-44A8205C4E75E1F2BBB780BBF06C891A" name="mtn:CapitalLeasedAssetsNet" contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">127,550</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">97</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-2" continuedAt="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-3"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock" id="TextSelection-76BBA44977B46A9FA74B5D5D91DFC338-0-wk-Fact-55EA5BE91739CED9C4D05D5D917DDD34" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of goodwill and intangible assets follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1647-wk-Fact-11405CCFF06ED21714A65D5D914F594F" name="us-gaap:GoodwillGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,752,062</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1661-wk-Fact-939600149A3A7709EE815D5D91580C97" name="us-gaap:GoodwillGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,625,560</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated impairments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1676-wk-Fact-CEE63A254174438D54B480BC5BF8F1F9" name="us-gaap:GoodwillImpairedAccumulatedImpairmentLoss" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,688</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1691-wk-Fact-347BA9747751618FE8DB80BC5BD92386" name="us-gaap:GoodwillImpairedAccumulatedImpairmentLoss" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1711-wk-Fact-EAFE58713ACE6C5A04865D5D9151C46A" name="mtn:GoodwillAccumulatedAmortization" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,354</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1726-wk-Fact-F49EAE081504E872BE575D5D915B65FC" name="mtn:GoodwillAccumulatedAmortization" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,354</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1752-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7" name="us-gaap:Goodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,709,020</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1766-wk-Fact-1E5757440BA1793761D05D5D912357D0" name="us-gaap:Goodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,608,206</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Indefinite-lived intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1858-wk-Fact-FBE69A534FBC7504EE2780BBDCFBFD0C" name="us-gaap:IndefiniteLivedTrademarks" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">230,000</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1872-wk-Fact-DB29C6A467EFE39B71F780BBDD32F20A" name="us-gaap:IndefiniteLivedTrademarks" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">215,905</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1887-wk-Fact-1134A79706064F083A7380BBDD2E2F8B" name="us-gaap:OtherIndefiniteLivedIntangibleAssets" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">41,667</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1901-wk-Fact-CE13B12F42DCCE1A384080BBDD3CE9F4" name="us-gaap:OtherIndefiniteLivedIntangibleAssets" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,166</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross indefinite-lived intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1922-wk-Fact-FABADBE102FB42070D0F80BBDCE96A5E" name="us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">271,667</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1936-wk-Fact-2F75797885128B8876BE80BBDCFFC39C" name="us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">258,071</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1956-wk-Fact-BFAA9F089BCAD13DE53280BBDCF3118F" name="mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">24,713</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e1971-wk-Fact-2616FBF3CF85F5E50D985D5D9156FF7C" name="mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">24,713</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indefinite-lived intangible assets, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e1997-wk-Fact-DE5783857F735EF68E3C80BBDCEE561D" name="mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">246,954</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2011-wk-Fact-A09D82C18FB338D7ACD180BBDD4E3C44" name="mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">233,358</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Amortizable intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2067-wk-Fact-BF7F0C535CF0FBEDBCD880BBDD45D1A3" name="us-gaap:FiniteLivedTradeNamesGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">38,208</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2081-wk-Fact-8CACF9EB3CA9FABFA54A80BBDD0B12ED" name="us-gaap:FiniteLivedTradeNamesGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,108</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2096-wk-Fact-A583B9CFEBF36293552A80BBDD3705F3" name="us-gaap:OtherFiniteLivedIntangibleAssetsGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">70,772</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2110-wk-Fact-6B7C2920DFC5CB1E7DF980BBDCDF1FFB" name="us-gaap:OtherFiniteLivedIntangibleAssetsGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">67,538</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross amortizable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2130-wk-Fact-303F65D0AA1BA3A3607B80BBDD1CBA16" name="us-gaap:FiniteLivedIntangibleAssetsGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">108,980</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2144-wk-Fact-1E22E095B2408578FC7980BBDD078C7E" name="us-gaap:FiniteLivedIntangibleAssetsGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,646</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2164-wk-Fact-153A05F8504EF517901A80BBDD185F14" name="us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">41,158</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2179-wk-Fact-B8F2A501B1AAC41A480B5D5D914BA12D" name="us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">36,831</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortizable intangible assets, net</span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2200-wk-Fact-FFC56F16B9A03CB9CB2080BBDD03BE3A" name="us-gaap:FiniteLivedIntangibleAssetsNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">67,822</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2214-wk-Fact-A600675DEFC4D629749280BBDCF73C81" name="us-gaap:FiniteLivedIntangibleAssetsNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">72,815</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2234-wk-Fact-24E1F501CD0A0D6B42AA80BBDD141034" name="mtn:GrossIntangibleAssetsExcludingGoodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">380,647</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2248-wk-Fact-7A2B6E4F87235B7EA61E80BBDD4AC509" name="mtn:GrossIntangibleAssetsExcludingGoodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">367,717</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2268-wk-Fact-16181C84CFD317E603D880BBDD20A5D9" name="mtn:AccumulatedAmortizationExcludingGoodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">65,871</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2283-wk-Fact-286FB5396703FB0A1A7D80BBDD2A714A" name="mtn:AccumulatedAmortizationExcludingGoodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">61,544</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total intangible assets, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2310-wk-Fact-DD377BD21F5F9451264D5D5D910C0E19" name="us-gaap:IntangibleAssetsNetExcludingGoodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">314,776</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2324-wk-Fact-6DCAF9E78621DF09FADF5D5D91223F2A" name="us-gaap:IntangibleAssetsNetExcludingGoodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">306,173</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortization expense for intangible assets subject to amortization for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> totaled </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2357-wk-Fact-F5BC8F12C95721CC29F85D5D917E1AA7" name="us-gaap:AmortizationOfIntangibleAssets" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2361-wk-Fact-7FB8D386FE5C6D0D3D365D5D9180A619" name="us-gaap:AmortizationOfIntangibleAssets" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">7.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2366-wk-Fact-411625BA59DCC310CF045D5D917BA7B6" name="us-gaap:AmortizationOfIntangibleAssets" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">5.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, and is estimated to be approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2370-wk-Fact-3087E6BAE101CA7BC3B05D5D917BD57E" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">4.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> annually, on average, for the next five fiscal years.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfGoodwillTextBlock" id="TextSelection-BAF5CE782F7079CA28965D5D91DF452D-0-wk-Fact-6B468DA677242DD3D6855D5D917E3054" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in the net carrying amount of goodwill allocated between the Company&#8217;s segments for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> are as follows (in thousands): </span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Mountain </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lodging </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill,&#160;net </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2477-wk-Fact-1E89D7312E122615BCF95D5D9163FE52" name="us-gaap:Goodwill" contextRef="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,407,787</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2491-wk-Fact-BB496F5CDA9AFEE7E08D5D5D915EA057" name="us-gaap:Goodwill" contextRef="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">67,899</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2505-wk-Fact-5682B86FFFC740FDDBC95D5D91704B8C" name="us-gaap:Goodwill" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,475,686</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2520-wk-Fact-EB7D3DBD2B1A592FF41E5D5D914C75AF" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">152,049</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2534-wk-Fact-27150363878749957D385D5D915DC6DF" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2548-wk-Fact-9E4CBBD9AC7B16FF59C45D5D916B2A2B" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">152,049</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2568-wk-Fact-235BA4347DAF936301F05D5D91610671" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">19,529</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2583-wk-Fact-82259E45FCDE9E1DED045D5D9161CC3F" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2597-wk-Fact-65D4A067032D2F723F125D5D915F4607" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">19,529</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2618-wk-Fact-34AD446CDEFB2FE2D9F080BBE4B708CD" name="us-gaap:Goodwill" contextRef="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,540,307</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2632-wk-Fact-82E7E8657B9AFF23C79780BBE4BD8D57" name="us-gaap:Goodwill" contextRef="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">67,899</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2646-wk-Fact-1E5757440BA1793761D05D5D912357D0" name="us-gaap:Goodwill" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,608,206</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2666-wk-Fact-8467488864DA2EC1010880BBE48F9691" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">135,987</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2680-wk-Fact-99CBC2C1645BA43179405D5D9154B58A" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2694-wk-Fact-30D3B06C3428CB19424E80BBE4A9C75D" name="us-gaap:GoodwillAcquiredDuringPeriod" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">135,987</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2714-wk-Fact-06564239713FAD98741C80BE6023F969" name="us-gaap:GoodwillImpairmentLoss" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2728-wk-Fact-0D48BB3D94DCF6ABB1BA80BE6014B746" name="us-gaap:GoodwillImpairmentLoss" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,688</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2743-wk-Fact-5A31CA19963C545D8AFF80BE6018D50E" name="us-gaap:GoodwillImpairmentLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,688</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2764-wk-Fact-C4A2B5C4F2EF8B01133080BBE4A459C8" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">9,485</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2779-wk-Fact-45DECA8054864B28C2845D5D9161E910" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5440783e2793-wk-Fact-142C850C03B1446565EF80BBE4B33F27" name="us-gaap:GoodwillForeignCurrencyTranslationGainLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">9,485</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2819-wk-Fact-D866229112199967453B80BBE495CD51" name="us-gaap:Goodwill" contextRef="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,666,809</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2833-wk-Fact-86EE2C689F165FB036BD80BBE49AF2C6" name="us-gaap:Goodwill" contextRef="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">42,211</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e2847-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7" name="us-gaap:Goodwill" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,709,020</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Asset Impairments</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recorded asset impairments during the year ended July 31, 2020 of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2872-wk-Fact-F77AF2D31CC06FF346F68ADB8BDB9FB6" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">28.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, with corresponding reductions to goodwill, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2876-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">25.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and intangible assets, net and property, plant and equipment, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2880-wk-Fact-7024F556989CBCD420CD8ADC02C29240" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. These asset impairments encompass various estimates and assumptions about fair value, which are based predominately on significant unobservable inputs. </span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">98</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-3"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic and the impact it has had on the Company&#8217;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. Additionally, the Company determined that certain long-lived assets of its Colorado resort ground transportation company were not recoverable. As a result, the Company recognized impairments of goodwill of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2887-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">25.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and intangible assets and long-lived assets of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440783e2891-wk-Fact-7024F556989CBCD420CD8ADC02C29240" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which were recorded within asset impairments on the Company&#8217;s Consolidated Statement of Operations during the year ended July 31, 2020. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated the fair value of its Colorado resort ground transportation company reporting unit based on an analysis of the present value of future cash flows (an income approach). The significant estimates used in the discounted cash flow model included the Company&#8217;s weighted average cost of capital for the reporting unit, projected cash flows and the long-term rate of growth, all of which are significant unobservable (Level 3) inputs. The Company&#8217;s assumptions were based on the actual historical performance of the reporting unit, taking into account the recent weakening of operating results and the expected continuation of operating results for transportation services. As a result of this impairment, the Company&#8217;s Colorado ground transportation company had no remaining goodwill recorded as of July 31, 2020.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" id="TextSelection-3FD6B5C1D45D1C6430D25D5D91DF1D8C-0-wk-Fact-D59DCEEE6925245A727E5D5D917E7864" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of accounts payable and accrued liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trade payables</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3012-wk-Fact-11C97B77D17E81CD6F185D5D914DC4F4" name="us-gaap:AccountsPayableTradeCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">59,692</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3026-wk-Fact-F6DAE89DD789366A82775D5D9159118E" name="us-gaap:AccountsPayableTradeCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">96,377</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3041-wk-Fact-9E9737151CB76ED8B6235D5D9144039A" name="us-gaap:DeferredRevenueCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">256,402</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3055-wk-Fact-2C5CCBC7402D410BE1705D5D914CE739" name="us-gaap:DeferredRevenueCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">335,669</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued salaries, wages and deferred compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3075-wk-Fact-48AEC81216B15162D25D5D5D915302A8" name="us-gaap:AccruedSalariesCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,588</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3089-wk-Fact-CA105949137FC5FD92E15D5D91535218" name="us-gaap:AccruedSalariesCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">50,318</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3109-wk-Fact-60ABB350BDE5BE287F1A5D5D9143C1DC" name="us-gaap:AccruedEmployeeBenefitsCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">43,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3123-wk-Fact-BE6ACDEF55D54CE0BF005D5D9150232B" name="us-gaap:AccruedEmployeeBenefitsCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">37,797</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deposits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3143-wk-Fact-D1479A2A30D20D177C2F5D5D91501981" name="us-gaap:Deposits" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">20,070</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3157-wk-Fact-CC0F0741C8651DEDFC175D5D914FDF69" name="us-gaap:Deposits" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">32,108</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3177-wk-Fact-F76A9D48BFB4393B671780BF3D9C11B1" name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">36,604</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3191-wk-Fact-ACF9816FD70427584F3780BF3DC84791" name="us-gaap:OperatingLeaseLiabilityCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other accruals</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3211-wk-Fact-DC58389F08E1EE9787E85D5D914FC257" name="us-gaap:OtherAccruedLiabilitiesCurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">57,048</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3225-wk-Fact-BA0D56DA4F01F85AA9445D5D914D6711" name="us-gaap:OtherAccruedLiabilitiesCurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">55,588</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accounts payable and accrued liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3250-wk-Fact-AF4796D5942D1A3842C55D5D91118234" name="mtn:AccountsPayableAccruedLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">499,108</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3264-wk-Fact-7C83BC5D9511B39DFBFD5D5D911281E8" name="mtn:AccountsPayableAccruedLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">607,857</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:ScheduleOfOtherLongTermLiabilitiesTableTextBlock" id="TextSelection-C4BC89D845D7B038A6165D5D91DFE6C0-0-wk-Fact-AD9F53F2CCE88B2384E15D5D9182B7CA" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of other long-term liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Private club deferred initiation fee revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3396-wk-Fact-062B103B1605BD380F515D5D91BB8576" name="mtn:PrivateClubDeferredInitiationFeesAndDeposits" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">105,108</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3410-wk-Fact-7544396D8F6780BA07E05D5D91BC49EF" name="mtn:PrivateClubDeferredInitiationFeesAndDeposits" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,749</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3425-wk-Fact-50025BB2D4ED9726583F5D5D91BFF2BA" name="mtn:UnfavorableLeaseObligationNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,651</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3439-wk-Fact-BE41C73E2F2A2B89F8AB5D5D91C0F945" name="mtn:UnfavorableLeaseObligationNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">19,017</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other long-term liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3459-wk-Fact-90FE2536637E392931D95D5D91BC9D39" name="us-gaap:OtherLiabilitiesNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">163,486</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3473-wk-Fact-609520DAD83DD24950FB5D5D91BFF37D" name="us-gaap:OtherLiabilitiesNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">154,835</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total other long-term liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3498-wk-Fact-BA4612E83261F608F56D5D5D91080945" name="mtn:OtherLongTermLiabilitiesNoncurrent" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,245</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440783e3512-wk-Fact-6AEC794DB971BD159FF35D5D9100CC2A" name="mtn:OtherLongTermLiabilitiesNoncurrent" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">283,601</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric></ix:continuation><div><a id="s80654E19ACBB57089698947EC419FB33"></a></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">9.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:EquityMethodInvestmentsDisclosureTextBlock" id="TextSelection-74D1C7A13E37F1826E985D5D91E05278-0-wk-Fact-394FC8B96A435F371B1C5D5D916F4E2F" continuedAt="TextSelection-74D1C7A13E37F1826E985D5D91E05278-1" escape="true">Investments in Affiliates</ix:nonNumeric></span></div><ix:continuation id="TextSelection-74D1C7A13E37F1826E985D5D91E05278-1"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:EquityMethodInvestmentsTextBlock" id="TextSelection-B1E6DBE386DB92E9F1DB5D5D91E0F029-0-wk-Fact-2578142F12B9913CDFF15D5D91642F37" escape="true"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company held the following investments in equity method affiliates as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:84%;"></td><td style="width:16%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Equity Method Affiliates</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Ownership</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (&#8220;SSF/VARE&#8221;)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440994e726-wk-Fact-255D936AB0DE5110D8585D5D914B859A" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">50</ix:nonFraction>%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">KRED</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440994e737-wk-Fact-21ED5FD892E000D97C625D5D9149E922" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_KeystoneAndIntrawestLlcMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">50</ix:nonFraction>%</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Clinton Ditch and Reservoir Company</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5440994e748-wk-Fact-72312F4033789D3426A25D5D914A3BC3" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_ClintonDitchAndReservoirCompanyMember" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">43</ix:nonFraction>%</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company had total net investments in equity method affiliates of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e765-wk-Fact-54F3AC10B3A945ED51BD5D5D9170336F" name="us-gaap:EquityMethodInvestments" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">10.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e769-wk-Fact-7BAADB8EA5C25952041B5D5D915BFE1B" name="us-gaap:EquityMethodInvestments" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">8.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively, included within deferred charges and other assets in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of </span><span style="font-family:inherit;font-size:10pt;">50% or less owned</span><span style="font-family:inherit;font-size:10pt;"> entities accounted for by the equity method was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e786-wk-Fact-9F9F334F2E855AE0BDA45D5D9174978C" name="us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e790-wk-Fact-1668E7DD6322092CF5B05D5D91626BE9" name="us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">5.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively. During the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, distributions in the amounts of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e815-wk-Fact-6543A6ADF127022052395D5D9164AEDF" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">0.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e819-wk-Fact-D206C43A8BCD7789B14E5D5D915D3332" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5440994e823-wk-Fact-DDD2D2FD046FF12FF78A5D5D91571EE3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, were received from equity method affiliates.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">99</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sDE7A21A913D059F092412B3CA4E3DBFD"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">10.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:FairValueDisclosuresTextBlock" id="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-0-wk-Fact-5024D757D2218D91068A5D5D90EB4B4A" continuedAt="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-1" escape="true">Fair Value Measurements</ix:nonNumeric></span></div><ix:continuation id="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-1" continuedAt="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company utilizes FASB issued fair value guidance that establishes how reporting entities should measure fair value for measurement and disclosure purposes.&#160;The guidance establishes a common definition of fair value applicable to all assets and liabilities measured at fair value and prioritizes the inputs into valuation techniques used to measure fair value.&#160;Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value.&#160;The three levels of the hierarchy are as follows:</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 2: Inputs include quoted prices for similar assets and liabilities in active and inactive markets or that are observable for the asset or liability either directly or indirectly; and</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 3: Unobservable inputs which are supported by little or no market activity.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" id="TextSelection-114E713DD05B9631B3BA5D5D91E11A42-0-wk-Fact-959FE91137621F048D055D5D90E9B7E0" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The table below summarizes the Company&#8217;s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at their estimated fair values (all other assets and liabilities measured at fair value are immaterial) (in thousands):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:36%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;3</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e937-wk-Fact-E9584E234927D9F3B6265D5D916F307E" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">203,158</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e951-wk-Fact-168D9345698882758B535D5D9174708D" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">203,158</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1000-wk-Fact-B7424C2A92B31336558E5D5D915AC6A5" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,401</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1028-wk-Fact-746EECD847245BDA44AD5D5D9157BB1A" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,401</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1063-wk-Fact-B90BA40EFB822645168C5D5D916C391A" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">8,208</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1091-wk-Fact-3BD8C5BCA0721C85791C5D5D91575145" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">8,208</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest Rate Swaps</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1193-wk-Fact-ED7B1BC5F906739CADCA97D9ED7E67A8" name="us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1221-wk-Fact-129C14AEE5CCA1AADAB597DA69C758FC" name="us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,510</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1256-wk-Fact-90E3DF376ADDC8F02BAC5D5D91608E97" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,800</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1299-wk-Fact-FDD83CB3BFD9470DF66F5D5D90F737DF" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,800</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 3</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1587-wk-Fact-ED1F1222E1B5D643F7A15D5D916D0118" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,043</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1601-wk-Fact-E55EDA04FE8FD4D1B35E5D5D9177287F" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,043</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1650-wk-Fact-8FB9407FEFDCD41AA58B5D5D915BA93E" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,401</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1678-wk-Fact-E8D12CB9A83B662B25B45D5D91700E65" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,401</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1713-wk-Fact-BB3A183F52D3451D9CD15D5D91557674" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,871</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1741-wk-Fact-F1455E1CFBEA1CEFC1425D5D91558989" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,871</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1843-wk-Fact-5DF240569FFCA791DACC5D5D9175595A" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,200</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1886-wk-Fact-0F78AF515195606A0AD85D5D917A0C94" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,200</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s cash equivalents, other current assets and Interest Rate Swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. During the year ended July 31, 2020, the Company entered into the Interest Rate Swaps to hedge the LIBOR-based variable interest rate component of $400.0 million in principal amount of its Vail Holdings Credit Agreement. Changes in the estimated fair value are recognized in change in estimated fair value of hedging instruments on the Company&#8217;s Consolidated Statements of Comprehensive Income. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. The estimated fair value of the Interest Rate Swaps are included within other long-term liabilities on the Company&#8217;s Consolidated Balance Sheet as of July 31, 2020.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">100</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-2"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" id="TextSelection-78F32C00599FF03E4F85B21D96E7285F-0-wk-Fact-8F47D1FCB143A908BF8BB21F11C943DF" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in Contingent Consideration during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:84%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingent Consideration</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e1965-wk-Fact-C4716C50425FBE3C4A965D5D9173580D" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,900</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5442678e1980-wk-Fact-F546A6A3DC0464CFFF225D5D91757C60" name="us-gaap:PaymentsForRent" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">67</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e2001-wk-Fact-26D4E1C16936B10C3C5A5D5D90F7B4A2" name="us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,367</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e2021-wk-Fact-5DF240569FFCA791DACC5D5D9175595A" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">27,200</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5442678e2041-wk-Fact-ED0EBB0488B14577CA945D5D917461D0" name="us-gaap:PaymentsForRent" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">6,436</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5442678e2062-wk-Fact-1969DB943C8BD5539DFF5D5D917316CD" name="us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,964</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5442678e2088-wk-Fact-FDD83CB3BFD9470DF66F5D5D90F737DF" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,800</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Lease for Park City, as discussed in Note 6, Long-term Debt, provides for participating contingent payments (the &#8220;Contingent Consideration&#8221;) to the landlord of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5442678e2099-wk-Fact-9288A0F5FE9614A096905D5D90E9B5CA" name="us-gaap:BusinessCombinationContingentConsiderationArrangementsDescription" contextRef="FD2020Q4YTD">42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Lease by the Company.</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5442678e2103-wk-Fact-C3EB3694C87827C7EFBA5D5D90E85AB6" name="mtn:ContingentConsiderationKeyAssumptionsforValuation" contextRef="FD2020Q4YTD">The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included Park City EBITDA for the year ending July 31, 2022, an assumed long-term growth rate, a discount rate of 10.49% and volatility of 17.0%, which are unobservable inputs and thus are considered Level 3 inputs.</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5442678e2107-wk-Fact-156AA33EF15BC41AB0885D5D90EB4D49" name="us-gaap:SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription" contextRef="FD2020Q4YTD">The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated future performance would result in a change in the estimated fair value within the range of approximately $2.9 million to $4.1 million.</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration is classified as a liability in our Consolidated Balance Sheets and is remeasured to an estimated fair value at each reporting date until the contingency is resolved. During the year ended July 31, 2020, the Company made a payment to the landlord for Contingent Consideration of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5442678e2115-wk-Fact-527AE3648353F1C8F63E5D5D90E37800" name="us-gaap:PaymentsForRent" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and recorded a decrease in the estimated fair value of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5442678e2119-wk-Fact-23A8AD05F3B43B7F7C9C5D5D90E416FE" name="us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" sign="-" format="ixt:numdotdecimal">3.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily related to changes in the expected Contingent Consideration payments for the year ended July 31, 2020 and the year ending July 31, 2021, and other key assumptions noted above, resulting in an estimated fair value of the Contingent Consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5442678e2123-wk-Fact-90E3DF376ADDC8F02BAC5D5D91608E97" name="mtn:ContingentConsiderationFairValueDisclosure" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">17.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, which is reflected in accounts payable and accrued liabilities and other long-term liabilities in the Consolidated Balance Sheet.</span></div></ix:continuation><div><a id="s4D0A025039A6592D85DC095BAD85E740"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">11.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:IncomeTaxDisclosureTextBlock" id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-0-wk-Fact-39BF422926AE625B0B275D5D918212CD" continuedAt="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-1" escape="true">Income Taxes</ix:nonNumeric></span></div><ix:continuation id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-1" continuedAt="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is subject to taxation in U.S. federal, state, and local jurisdictions and various non-U.S. jurisdictions, including Australia and Canada. The Company&#8217;s effective tax rate is impacted by the tax laws, regulations, practices and interpretations in the jurisdictions in which it operates and may fluctuate significantly from period to period depending on, among other things, the geographic mix of the Company&#8217;s profits and losses, changes in tax laws and regulations or their application and interpretation, the outcome of tax audits and changes in valuation allowances associated with the Company&#8217;s deferred tax assets.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 27, 2020, in response to the COVID-19 pandemic, the U.S. government enacted legislation commonly referred to as the Coronavirus Aid, Relief, and Economic Security Act (the &#8220;CARES Act&#8221;). The CARES Act includes various amendments to the U.S. tax code that impacted the Company&#8217;s accounting and reporting for income taxes during the year ended July 31, 2020, and the Company expects these amendments will continue to impact its accounting and reporting for income taxes in the future. The primary provisions of the CARES Act that the Company has been impacted by include:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">allowing a carryback of the entire amount of eligible Federal net operating losses (&#8220;NOLs&#8221;) generated in calendar years 2018, 2019 and 2020 for up to five years prior to when such losses were incurred, representing a change from previous rules under the Tax Cuts &amp; Jobs Act of 2017 (the &#8220;TCJA&#8221;), in which NOLs could not be carried back to prior years and utilization was limited to 80% of taxable income in future years. Under the CARES Act, the Company was permitted to carry back its pre-existing NOLs to tax years prior to the enactment of the TCJA and obtain an incremental benefit of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e691-wk-Fact-91D3BE6F692AC2724965A2F1FFE24009" name="mtn:Netoperatinglosscarryback" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> related to the differential in federal tax rates between years that NOLs were generated and years that the NOLs will be carried back to;</span></div></td></tr></table></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-2" continuedAt="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-3"><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">treatment of certain qualified improvement property (&#8220;QIP&#8221;) as 15-year property and allowing such QIP placed in service after December 31, 2017 to be eligible for bonus depreciation, which could incrementally add to its pre-existing NOLs; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increases in the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income for calendar years 2019 and 2020.</span></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The CARES Act also provides refundable employee retention credits and defers the requirement to remit the employer-paid portion of social security payroll taxes. As a result, during the year ended July 31, 2020, the Company recorded a benefit of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e712-wk-Fact-EE9FC8F08B7CE6F0F42497E355B6EE8C" name="mtn:USRefundablePayrollTaxCredits" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">9.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which primarily offset Mountain and Lodging operating expense as a result of wages paid to employees who were not providing services. Additionally, the Company deferred payment of the employer-paid portion of social security payroll taxes through the end of calendar year 2020 and will remit such amounts in equal installments during calendar years 2021 and 2022.</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company also recognized a benefit of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e719-wk-Fact-11357A685CB00C79B7AA98A3FAB78848" name="mtn:ForeignRefundablePayrollTaxCredits" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">8.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> during the year ended July 31, 2020 as a result of the recent Canada Emergency Wage Subsidy and Australian JobKeeper legislation for its Canadian and Australian employees, which primarily offset Mountain and Lodging operating expense.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock" id="TextSelection-B90B43E96FE92DB0943B5D5D91E11DE4-0-wk-Fact-901E172B7F86EBCDFA335D5D91819F94" escape="true"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S. and foreign components of income before (provision) benefit from income taxes is as follows (in thousands):</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e867-wk-Fact-0AD44C0CCCA3FE8894A35D5D916F53C0" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">89,838</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e881-wk-Fact-04B5F936010F9FB0CAB55D5D9181C8C2" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">306,323</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e895-wk-Fact-4E90CD28BB28E6E71D3C5D5D917956C3" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">264,379</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e910-wk-Fact-C5CEAB3F2BCE5AD4A8205D5D9179F619" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">26,595</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e924-wk-Fact-90E40922D2F45B7C4F725D5D9165234D" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">92,642</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e938-wk-Fact-92E646C949739D5C4DE85D5D916C158C" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,713</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e963-wk-Fact-756645D8117770BB55375D5D915F0503" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">116,433</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e977-wk-Fact-DC822A4048131078A3295D5D91772D4B" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">398,965</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e991-wk-Fact-5AC3F6673081EAEB5ADF5D5D9170DF73" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">340,092</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. <ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" id="TextSelection-63C007DD8D56734470785D5D91E1CF86-0-wk-Fact-C446DD6191FA60F311D65D5D90CCE10E" continuedAt="TextSelection-63C007DD8D56734470785D5D91E1CF86-1" escape="true">Significant components of the Company&#8217;s deferred tax liabilities and assets are as follows (in thousands):</ix:nonNumeric></span></div><ix:continuation id="TextSelection-63C007DD8D56734470785D5D91E1CF86-1"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:68%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Fixed assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1159-wk-Fact-C13E720B0F9E6420271A5D5D91BECE74" name="us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">216,016</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1173-wk-Fact-55873309CEF9A0E9C5925D5D914C69F6" name="us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">153,182</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1188-wk-Fact-91FB56A1527F579B781B5D5D915682E7" name="us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">86,509</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1202-wk-Fact-399A2F1502B22DAEF1565D5D91C1A4B1" name="us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">73,146</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease right of use assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1222-wk-Fact-DCAADFEB2678A78D1CB180C4948E7AF1" name="us-gaap:DeferredTaxLiabilitiesLeasingArrangements" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">53,727</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1236-wk-Fact-035E75AE507A282652CD80C494889C62" name="us-gaap:DeferredTaxLiabilitiesLeasingArrangements" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1256-wk-Fact-E48E03E26B0750C1A9B85D5D913294F4" name="us-gaap:DeferredTaxLiabilitiesOther" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,709</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1270-wk-Fact-D5CFAC41CB53C6F94A925D5D914FEF08" name="us-gaap:DeferredTaxLiabilitiesOther" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,425</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1290-wk-Fact-ABE5242FAA4CE1DD7B7E5D5D91C0C8AC" name="us-gaap:DeferredIncomeTaxLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">369,961</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1304-wk-Fact-85EBA9A4D921474EC6FA5D5D914E551E" name="us-gaap:DeferredIncomeTaxLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">239,753</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1360-wk-Fact-DF7E25017E103A3B9ABF5D5D91577189" name="mtn:DeferredTaxAssetCanyonsObligation" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">14,997</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1374-wk-Fact-3039F734D8C46B1621BC5D5D9131B336" name="mtn:DeferredTaxAssetCanyonsObligation" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,922</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stock-based compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1394-wk-Fact-4F53DD6F4A91BFA135595D5D91383159" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,313</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1408-wk-Fact-7BDCA83245021D95B5F55D5D9144598D" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,620</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment in Partnerships</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1429-wk-Fact-6DAEB8D225EB110048565D5D914DB8A2" name="us-gaap:DeferredTaxAssetsInvestments" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">12,400</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1443-wk-Fact-D7873950BD6FA76534AD5D5D912E0EF1" name="us-gaap:DeferredTaxAssetsInvestments" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,281</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred compensation and other accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1463-wk-Fact-E2C3D3D6F8EDC1524F885D5D913DA5C3" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,918</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1477-wk-Fact-30A610A378380E7382B35D5D915522DF" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,674</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1497-wk-Fact-66D37AEB392A81E9E2D35D5D913B377C" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,468</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1511-wk-Fact-DBA958BC45688ADFADEA5D5D91C15063" name="us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">6,771</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1531-wk-Fact-0B59C1469A0CFCD3B7765D5D915775AC" name="mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">285</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1545-wk-Fact-DE277582A94AF3E34EDA5D5D914D7FE2" name="mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,896</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net operating loss carryforwards and other tax credits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1565-wk-Fact-7336D21E36F57BF7D7385D5D9130C722" name="us-gaap:DeferredTaxAssetsOperatingLossCarryforwards" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">13,205</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1579-wk-Fact-CD4968C57DCB406875E85D5D914E12E7" name="us-gaap:DeferredTaxAssetsOperatingLossCarryforwards" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,631</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1599-wk-Fact-270A48C5FC56B6C924C080C77FEFDCD6" name="mtn:DeferredTaxAssetsOperatingLeaseLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">60,838</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1613-wk-Fact-8B2626E8D8FF4AFE459080C77FE82A4A" name="mtn:DeferredTaxAssetsOperatingLeaseLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1633-wk-Fact-6D5EA898BC466B9A25615D5D91527D34" name="us-gaap:DeferredTaxAssetsOther" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,427</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1647-wk-Fact-424319F0565C453001D85D5D9153AC7C" name="us-gaap:DeferredTaxAssetsOther" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,850</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1667-wk-Fact-87067A7B9291411E3B755D5D91C18D82" name="us-gaap:DeferredTaxAssetsGross" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">147,851</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1681-wk-Fact-149F46DB318AF86F275B5D5D912F1185" name="us-gaap:DeferredTaxAssetsGross" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">83,645</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Valuation allowance for deferred income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e1701-wk-Fact-D421FCE9C8AC7DD72FEC5D5D912ECE08" name="us-gaap:DeferredTaxAssetsValuationAllowance" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,330</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e1716-wk-Fact-1B049D97A7579F339DF15D5D91C1E048" name="us-gaap:DeferredTaxAssetsValuationAllowance" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,365</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets, net of valuation allowance</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1737-wk-Fact-C6EADCD3A60C03F376B35D5D91583527" name="us-gaap:DeferredTaxAssetsNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">142,521</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1751-wk-Fact-826038BE054113900D805D5D91506244" name="us-gaap:DeferredTaxAssetsNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">78,280</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1776-wk-Fact-FF8537385D2E28EE194E5D5D90CD8F7B" name="us-gaap:DeferredTaxLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">227,440</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1790-wk-Fact-7ADEBEF660403A05A6ED5D5D91506C81" name="us-gaap:DeferredTaxLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">161,473</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">102</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-3" continuedAt="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-4"><ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock" id="TextSelection-8579D19311C003DCA96F5D5D91E2AA90-0-wk-Fact-25E77C577634520E58B15D5D9178E3B7" escape="true"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:60%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:18%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax asset</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1918-wk-Fact-39F2364480F59D4F4D955D5D91842F42" name="us-gaap:DeferredIncomeTaxAssetsNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">6,751</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1932-wk-Fact-E35CECE7D10CB9F4DA4A5D5D918736E9" name="us-gaap:DeferredIncomeTaxAssetsNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,286</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liability</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1947-wk-Fact-114304C0B2E26A31E5DF5D5D90FBA196" name="us-gaap:DeferredIncomeTaxLiabilitiesNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">234,191</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1961-wk-Fact-E1319DA49E4F72A375295D5D910AA429" name="us-gaap:DeferredIncomeTaxLiabilitiesNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">168,759</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e1986-wk-Fact-FF8537385D2E28EE194E5D5D90CD8F7B" name="us-gaap:DeferredTaxLiabilities" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">227,440</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2000-wk-Fact-7ADEBEF660403A05A6ED5D5D91506C81" name="us-gaap:DeferredTaxLiabilities" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">161,473</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" id="TextSelection-B9C46724F5A0A18D86365D5D91E23F56-0-wk-Fact-70E970705844711568C85D5D91864101" escape="true"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Significant components of the provision (benefit) from income taxes are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2222-wk-Fact-BF1023BF7F51C993B7D95D5D9186F4A0" name="us-gaap:CurrentFederalTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">13,467</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2237-wk-Fact-2E98D6F44AE914054FC35D5D9171BEA7" name="us-gaap:CurrentFederalTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">24,309</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2251-wk-Fact-6115AFCF93348A23C0465D5D9175425F" name="us-gaap:CurrentFederalTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">43,366</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2267-wk-Fact-2E48FA5012C50A59A4305D5D9178DC48" name="us-gaap:CurrentStateAndLocalTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">731</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2282-wk-Fact-DF45AEA9FF3C8D307D445D5D916E7979" name="us-gaap:CurrentStateAndLocalTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">8,539</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2296-wk-Fact-7E987BC3437CD308FAD75D5D9179FC72" name="us-gaap:CurrentStateAndLocalTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,562</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2316-wk-Fact-30EFD3D7302035B190855D5D9182F11B" name="us-gaap:CurrentForeignTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,141</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2330-wk-Fact-8AE18CEFBC1F8BEE298D5D5D91739FB4" name="us-gaap:CurrentForeignTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">20,205</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2344-wk-Fact-FE692AE8928D8A88B8895D5D9187A535" name="us-gaap:CurrentForeignTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,436</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total current</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2364-wk-Fact-B1A9ED16805AB85709825D5D9178BD5E" name="us-gaap:CurrentIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">10,057</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2379-wk-Fact-CD68747408925269534C5D5D915AC062" name="us-gaap:CurrentIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">53,053</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2393-wk-Fact-06023FAC6877742064455D5D918B1E8C" name="us-gaap:CurrentIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">15,368</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2465-wk-Fact-F1C34F62D155FA02FC335D5D91751D9E" name="us-gaap:DeferredFederalIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">12,597</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2479-wk-Fact-A7F4C7B9A726B4A408125D5D9177E1BD" name="us-gaap:DeferredFederalIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,983</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2493-wk-Fact-81CD6467EB4E5E5E1D735D5D91658544" name="us-gaap:DeferredFederalIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">45,922</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2514-wk-Fact-9EB07DCE64D1FD3128435D5D9188803C" name="us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,266</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2528-wk-Fact-D763487E559446A53BFC5D5D918A891B" name="us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,282</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2542-wk-Fact-01DACC8085FDC18316315D5D917AC80C" name="us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,941</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2562-wk-Fact-E4E324407CED605901F85D5D917527EF" name="us-gaap:DeferredForeignIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">572</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2576-wk-Fact-F5BEF11D9B164AEBF55E5D5D916E5D4D" name="us-gaap:DeferredForeignIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">154</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2590-wk-Fact-0568FF68389C9ED72BC55D5D91770F75" name="us-gaap:DeferredForeignIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,789</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total deferred</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2612-wk-Fact-7877822F15C46F7E87385D5D9132C8E5" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,435</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2626-wk-Fact-B7ED194DE7ACC74EC7D25D5D914FCCCB" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,419</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2640-wk-Fact-58B11254C90EA7781CDB5D5D913F22AA" name="us-gaap:DeferredIncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">45,770</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2666-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,378</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2680-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,472</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2694-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">61,138</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" id="TextSelection-00279792D41ECDC8761F5D5D91E28E38-0-wk-Fact-EFEEC8C847E4D7CC07F95D5D91765885" escape="true"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the income tax provision (benefit) from continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:52%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:15%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">At U.S. federal income tax rate</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2825-wk-Fact-C8DE4BF263DD928ABA625D5D917C54D6" name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">21.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2835-wk-Fact-8E77E7983362F28DDBDB5D5D91881E22" name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">21.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2845-wk-Fact-3FA83FD5F87C59F2FEBC5D5D9190353B" name="us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">26.8</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State income tax, net of federal benefit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2861-wk-Fact-5BC8FC20361AC7482C4E5D5D917CFF7B" name="us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">3.5</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2871-wk-Fact-5795322B5A7EB457FF015D5D9182A6DC" name="us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">2.8</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2881-wk-Fact-310AEF5F5AFE91F9CA595D5D919EEC13" name="us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">3.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in uncertain tax positions</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2897-wk-Fact-048ADC3F36FBA45076255D5D917CB1A1" name="us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">3.8</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2907-wk-Fact-9A5D18DE2E7A2E48744A80C84AF98B19" name="us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">1.6</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2917-wk-Fact-BC86F4AAE3EBC5684B4A80C84B9BBEDB" name="us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in valuation allowance</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2933-wk-Fact-CC36B4B643AF16180B945D5D917B3E8C" name="us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2943-wk-Fact-E33FB63F33C352D429075D5D91735AD4" name="us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e2953-wk-Fact-F833834B506FA7E9331E5D5D918FDF03" name="us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">0.3</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Excess tax benefits related to stock-based compensation</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2969-wk-Fact-08BCF742A3C2695041E95D5D917EC7C0" name="us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">7.1</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2979-wk-Fact-5CCE45346E27B941C86F5D5D917FBD22" name="us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">3.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e2989-wk-Fact-98A9261ACBC26571A6E880C8E3326109" name="us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">20.9</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Impacts of the Tax Act and other legislative changes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3005-wk-Fact-5966EDDBF394643E651E5D5D91781049" name="mtn:ImpactofTaxReformonRate" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">3.2</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3015-wk-Fact-72769B6FE1A972BA71D75D5D91724EFD" name="mtn:ImpactofTaxReformonRate" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3025-wk-Fact-C0BF44527BCFEDFD995580C8E3A502BD" name="mtn:ImpactofTaxReformonRate" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">24.7</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Noncontrolling interests</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3041-wk-Fact-CEBE3BC3060258F806DD5D5D917F615B" name="us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">2.4</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3051-wk-Fact-E2AD437F350A26C143C55D5D917F538F" name="us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">1.5</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3061-wk-Fact-C7FEA762B60D012747DE5D5D917917D1" name="us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">1.7</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign rate differential</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3077-wk-Fact-C9208C3E89F7E1DEFDBF5D5D917EE5F7" name="us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">2.4</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3087-wk-Fact-FBCAFADED7BDC34D4D425D5D917C340C" name="us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">0.4</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3097-wk-Fact-517818CBD4E21CE23A965D5D917D582B" name="us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">1.5</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3113-wk-Fact-FAB1A6523872D345D05A5D5D917EAED6" name="us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">0.7</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3123-wk-Fact-BA97832CB281215E36035D5D91842D69" name="us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">0.8</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3133-wk-Fact-14E3547551D18FDC0AE25D5D918C43C8" name="us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">0.7</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effective tax rate</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3150-wk-Fact-63DFD611381F94D2BB845D5D9191F7C4" name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" contextRef="FD2020Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">6.3</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3160-wk-Fact-5A4B3F4F1CF1907095235D5D917D1CCB" name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" contextRef="FD2019Q4YTD" unitRef="number" decimals="3" scale="-2" format="ixt:numdotdecimal">18.9</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3170-wk-Fact-79ED239237C8629613255D5D9176E16F" name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" contextRef="FD2018Q4YTD" unitRef="number" decimals="3" scale="-2" sign="-" format="ixt:numdotdecimal">18.0</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:SummaryOfIncomeTaxContingenciesTextBlock" id="TextSelection-95EF82938C56AED6207C5D5D91E1343C-0-wk-Fact-DC0BC7B0A320685E6B325D5D917465C2" escape="true"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, beginning of year</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3338-wk-Fact-306C264ED007C4FCF7835D5D9184FD50" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">72,222</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3352-wk-Fact-D39BE897D8651B64B16B5D5D918CFBF6" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">78,242</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3366-wk-Fact-729DA7DFC29EB9F1A6AD5D5D918294D2" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2017Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">76,111</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additions for tax positions of prior years</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3381-wk-Fact-BED60B12BEA557D16EA75D5D91978528" name="us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">16,654</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3395-wk-Fact-20251D7550F048D7694E5D5D919C9D5A" name="us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">11,520</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3409-wk-Fact-12DD504999DED70726955D5D9196EC63" name="us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">12,394</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lapse of statute of limitations</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3429-wk-Fact-7D4C7DC5501BFE44C9EE5D5D918EF6D5" name="us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">18,577</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3444-wk-Fact-B4C25586140ACE864FD85D5D9195A8CC" name="us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">17,540</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5445853e3459-wk-Fact-883E0992664A776387025D5D918B0031" name="us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,263</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, end of year</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3485-wk-Fact-906CA368A2CD04A3AF8A5D5D9193BDC9" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">70,299</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3499-wk-Fact-306C264ED007C4FCF7835D5D9184FD50" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">72,222</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445853e3513-wk-Fact-D39BE897D8651B64B16B5D5D918CFBF6" name="us-gaap:UnrecognizedTaxBenefits" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">78,242</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">103</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-4"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company&#8217;s unrecognized tax benefits associated with uncertain tax positions relate to the treatment of the Talisker lease payments as payments of debt obligations and that the tax basis in Canyons goodwill is deductible, and are included within &#8220;other long-term liabilities&#8221; in the accompanying Consolidated Balance Sheets. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2020, the Company experienced a reduction in the uncertain tax positions due to the lapse of the statute of limitations of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3545-wk-Fact-B6E86351E06A6C4E88D85D5D918D052E" name="us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" contextRef="FD2020Q4YTD_us-gaap_IncomeTaxAuthorityAxis_us-gaap_InterestExpenseMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">18.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which was partially offset with an increase to the uncertain tax position of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3549-wk-Fact-276FDE413E5700C80ABF5D5D918BB1E6" name="us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">16.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. Interest and penalties associated with the statute of limitations lapse were approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3553-wk-Fact-F0D52595CE1AC7461C715D5D91849D18" name="us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. Additionally, the Company expects a reduction to its uncertain tax positions for the fiscal year ending July 31, 2021, due to the lapse of the statute of limitations. As of July&#160;31, 2020 and 2019, accrued interest and penalties, net of tax, was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3557-wk-Fact-B313EFBF05BF80AC9A7F80CA5499236C" name="us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3561-wk-Fact-46DA81E20C3ECAFD67B85D5D91797005" name="us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" contextRef="FI2019Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. For the years ended July&#160;31, 2020, 2019 and 2018, the Company recognized income tax (benefit) expense of (</span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3566-wk-Fact-CEF535A5BD05FBAE777D80CACA9B41A2" name="us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">0.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">), </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3570-wk-Fact-B8F9AC597CA5967D599F5D5D91800276" name="us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3574-wk-Fact-22BAFB46104DAD2F43D85D5D91951B05" name="us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of interest (benefit) expense and penalties, net of tax, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s major tax jurisdictions in which it files income tax returns are the U.S. federal jurisdiction, various state jurisdictions, Australia, and Canada. The Company is no longer subject to U.S. federal examinations for tax years prior to 2015. With few exceptions, the Company is no longer subject to examination by various U.S. state jurisdictions for tax years prior to 2014. Additionally, the Company is no longer subject to audits for the tax years prior to 2015 for Australia and Canada.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has NOL carryforwards totaling </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3589-wk-Fact-F9F954BB4F9C1160993897E4B43F21A6" name="us-gaap:OperatingLossCarryforwards" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">58.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, primarily comprised of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3593-wk-Fact-A24AAB7DB42100D6E2C8A2F36D4E8C41" name="us-gaap:OperatingLossCarryforwards" contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">49.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of federal and state NOLs as a result of the acquisition of Peak Resorts in September 2019 that will expire beginning July 31, 2032, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3597-wk-Fact-928FBAE3C0B2FA75D6EEA2F3834CC05E" name="us-gaap:OperatingLossCarryforwards" contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_country_US" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">4.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of historical state NOLs that will expire by July 31, 2032 and non-U.S. NOLs of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3601-wk-Fact-32ABEA924DFC8C4D71BBA2F3922A0DC4" name="us-gaap:OperatingLossCarryforwards" contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_ForeignCountryMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> that will carry forward indefinitely. In connection with Peak Resorts&#8217; initial public offering in November 2014, as well as the Company&#8217;s acquisition of Peak Resorts in September 2019, Peak Resorts had two ownership changes pursuant to the provisions of the Tax Reform Act of 1986. As a result, the Company&#8217;s usage of its eligible Federal NOL carryforwards will be limited each year by these ownership changes; however, management believes the full benefit of those carryforwards will be realized prior to their respective expiration dates. As of July&#160;31, 2020, the Company has recorded a valuation allowance on </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3605-wk-Fact-EB8FD502C75A022417C45D5D917D4104" name="us-gaap:OperatingLossCarryforwardsValuationAllowance" contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_StateAndLocalJurisdictionMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">3.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of the historical non-U.S. NOL carryforwards, as the Company has determined that it is more likely than not that the associated NOL carryforwards will not be realized. Additionally, the Company has foreign tax credit carryforwards of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3610-wk-Fact-D527987FF20F47C6494D5D5D9189B61D" name="us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsForeign" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">4.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, which expire by the year ending July 31, 2028. As of July&#160;31, 2020, the Company has recorded a valuation allowance of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445853e3614-wk-Fact-73F9A7A50D6D5B22C5535D5D917801F8" name="us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">4.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> on foreign tax credit carryforwards, as the Company has determined that it is more likely than not that these foreign tax credit carryforwards will not be realized.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company may be required to record additional valuation allowances if, among other things, adverse economic conditions, including those caused by the COVID-19 pandemic, negatively impact the Company&#8217;s ability to realize its deferred tax assets. Evaluating and estimating the Company&#8217;s tax provision, current and deferred tax assets and liabilities and other tax accruals requires significant management judgment. The Company intends to indefinitely reinvest undistributed earnings, if any, in its Canadian foreign subsidiaries.  It is not practical at this time to determine the income tax liability related to any remaining undistributed earnings.</span></div></ix:continuation><div><a id="s7FC736FA8B7759C4AEE9A8EDEECD7F9C"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">12.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="TextSelection-ECF196DD6218B2DAD13F5D5D91E24144-0-wk-Fact-219A39F40651F0F478515D5D915D132A" continuedAt="TextSelection-ECF196DD6218B2DAD13F5D5D91E24144-1" escape="true">Related Party Transactions</ix:nonNumeric></span></div><ix:continuation id="TextSelection-ECF196DD6218B2DAD13F5D5D91E24144-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has the right to appoint </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445015e680-wk-Fact-BA51AC5DB54C72CF6AD05D5D91624F52" name="mtn:RightToAppointNumberOfDirectors" contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember" unitRef="director" decimals="INF" scale="0" format="ixt-sec:numwordsen">four</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5445015e684-wk-Fact-9597CE995FE1F7A3BD3A5D5D91594235" name="mtn:NumberOfDirectors" contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember" unitRef="director" decimals="INF" scale="0" format="ixt-sec:numwordsen">nine</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> directors of the Beaver Creek Resort Company of Colorado (&#8220;BCRC&#8221;), a non-profit entity formed for the benefit of property owners and certain others in Beaver Creek. The Company has a management agreement with the BCRC, renewable for </span><span style="font-family:inherit;font-size:10pt;">one-year</span><span style="font-family:inherit;font-size:10pt;"> periods, to provide management services on a fixed fee basis. Management fees and reimbursement of operating expenses paid to the Company under its agreement with the BCRC during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> were </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445015e705-wk-Fact-27DAB6BBC26291F6195C5D5D915F5FF6" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">8.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445015e709-wk-Fact-69C95F949A2584C5DB635D5D91598B24" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" contextRef="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">9.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5445015e713-wk-Fact-6381088329F722C404325D5D915D7D71" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" contextRef="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">9.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div></ix:continuation><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">104</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="s5D155D4C19D75CB09E7372949776663E"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">13.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock" id="TextSelection-E17F559E145A3BD93A885D5D91E21B98-0-wk-Fact-5E8FB2CA2C453F48B0EE5D5D91B66315" continuedAt="TextSelection-E17F559E145A3BD93A885D5D91E21B98-1" escape="true">Commitments and Contingencies</ix:nonNumeric></span></div><ix:continuation id="TextSelection-E17F559E145A3BD93A885D5D91E21B98-1" continuedAt="TextSelection-E17F559E145A3BD93A885D5D91E21B98-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Metropolitan Districts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company credit-enhances </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e683-wk-Fact-2623D7590F1BBBF257CA5D5D90D56668" name="mtn:DebtInstrumentThirdPartyCreditEnhancements" contextRef="FD2020Q4YTD_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of bonds issued by Holland Creek Metropolitan District (&#8220;HCMD&#8221;) through a </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e687-wk-Fact-32AD677E266E647066255D5D91B077A3" name="us-gaap:LettersOfCreditOutstandingAmount" contextRef="FI2020Q4_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> letter of credit issued under the Vail Holdings Credit Agreement. HCMD&#8217;s bonds were issued and used to build infrastructure associated with the Company&#8217;s Red Sky Ranch residential development. The Company has agreed to pay capital improvement fees to Red Sky Ranch Metropolitan District (&#8220;RSRMD&#8221;) until RSRMD&#8217;s revenue streams from property taxes are sufficient to meet debt service requirements under HCMD&#8217;s bonds. The Company recorded a liability of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e691-wk-Fact-A89F175C84B49CFA4B3E5D5D90ECB72A" name="us-gaap:OtherLongTermDebt" contextRef="FI2020Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e695-wk-Fact-DD737E445776EDCFCC3480CC3E126C54" name="us-gaap:OtherLongTermDebt" contextRef="FI2019Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, primarily within other long-term liabilities in the accompanying Consolidated Balance Sheets, as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively, with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates that it will make capital improvement fee payments under this arrangement through the year ending </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap"><ix:nonNumeric id="d5446025e708-wk-Fact-A2B666CD5DFAED1F31C75D5D90F646C1" name="mtn:EstimatedCessationDateOfCapitalImprovementFeePayments" contextRef="FD2020Q4YTD_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember" format="ixt:datemonthdayyearen">July 31, 2031</ix:nonNumeric></span></span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Guarantees/Indemnifications</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company had various other letters of credit outstanding totaling </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e722-wk-Fact-3040E8FB7ED611A036F25D5D90EAD20E" name="us-gaap:LettersOfCreditOutstandingAmount" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">75.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, consisting of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e726-wk-Fact-5F5775FCCEB4992EE3495D5D91A4EC83" name="us-gaap:LettersOfCreditOutstandingAmount" contextRef="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_EmployeeHousingBondsMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">53.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> to support the Employee Housing Bonds and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e730-wk-Fact-05CFDB1B04A98C8FB66E5D5D90EACE1E" name="us-gaap:LettersOfCreditOutstandingAmount" contextRef="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">22.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily for workers&#8217; compensation, a wind energy purchase agreement and insurance-related deductibles. The Company also had surety bonds of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e734-wk-Fact-2D203837CA5B20E0A3905D5D91AE926C" name="mtn:SuretyBondsOutstanding" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">9.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, primarily to provide collateral for its U.S. workers compensation self-insurance programs.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business that include certain indemnifications under which it could be required to make payments to third parties upon the occurrence or non-occurrence of certain future events. These indemnities include indemnities related to licensees in connection with third-parties&#8217; use of the Company&#8217;s trademarks and logos, liabilities associated with the infringement of other parties&#8217; technology and software products, liabilities associated with the use of easements, liabilities associated with employment of contract workers and the Company&#8217;s use of trustees, and liabilities associated with the Company&#8217;s use of public lands and environmental matters. The duration of these indemnities generally is indefinite and generally do not limit the future payments the Company could be obligated to make.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As permitted under applicable law, the Company and certain of its subsidiaries have agreed to indemnify their directors and officers over their lifetimes for certain events or occurrences while the officer or director is, or was, serving the Company or its subsidiaries in such a capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that should enable the Company to recover a portion of any amounts paid.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unless otherwise noted, the Company has not recorded any significant liabilities for the letters of credit, indemnities and other guarantees noted above in the accompanying Consolidated Financial Statements, either because the Company has recorded on its Consolidated Balance Sheets the underlying liability associated with the guarantee, the guarantee is with respect to the Company&#8217;s own performance and is therefore not subject to the measurement requirements as prescribed by GAAP, or because the Company has calculated the estimated fair value of the indemnification or guarantee to be immaterial based on the current facts and circumstances that would trigger a payment under the indemnification clause. In addition, with respect to certain indemnifications it is not possible to determine the maximum potential amount of liability under these potential obligations due to the unique set of facts and circumstances likely to be involved in each particular claim and indemnification provision. Historically, payments made by the Company under these obligations have not been material.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As noted above, the Company makes certain indemnifications to licensees for their use of the Company&#8217;s trademarks and logos. The Company does not record any liabilities with respect to these indemnifications.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">105</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-E17F559E145A3BD93A885D5D91E21B98-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Commitments</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The operations of Northstar are conducted on land and with operating assets owned by affiliates of EPR Properties, a real-estate investment trust, primarily under operating leases which were assumed in the acquisition of Northstar by the Company. The leases provide for the payment of a minimum annual base rent over the lease term which is recognized on a straight-line basis over the remaining lease term from the date of assumption. In addition, the leases provide for the payment of percentage rent of certain gross revenues generated at the property over a revenue threshold which is incrementally adjusted annually. The initial term of the leases expires in fiscal </span><span style="font-family:inherit;font-size:10pt;">2027</span><span style="font-family:inherit;font-size:10pt;"> and allows for </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5446025e765-wk-Fact-F6FC968D1B3BD144D1485D5D90CE6174" name="mtn:NumberOfOptionalLeaseRenewalTerms" contextRef="FD2020Q4YTD" unitRef="number" decimals="INF" scale="0" format="ixt-sec:numwordsen">three</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5446025e769-wk-Fact-755608D9C3470C44189F5D5D91A64C22" name="mtn:OptionalLeaseRenewalTerm" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember" format="ixt-sec:duryear">10</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">-year extensions at the Company&#8217;s option. The operations of Perisher are conducted on land under a license and lease granted by the Office of Environment and Heritage, an agency of the New South Wales government, which initially commenced in 2008, and which the Company assumed in its acquisition of Perisher. The lease and license has a term that expires in fiscal </span><span style="font-family:inherit;font-size:10pt;">2048</span><span style="font-family:inherit;font-size:10pt;"> and allows for an option to renew for an additional </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5446025e777-wk-Fact-2EAD663D5B7D685DE9485D5D90F5B2CB" name="mtn:OptionalLeaseRenewalTerm" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember" format="ixt-sec:duryear">20</ix:nonNumeric> years</span></span><span style="font-family:inherit;font-size:10pt;">. The lease and license provide for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5446025e782-wk-Fact-1EF7A3E1B4F73C4B60905D5D90EBA1FC" name="mtn:DescriptionofPercentageRent" contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember"> of certain gross revenue</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> generated at the property. The operations of Falls Creek and Hotham are conducted on land under leases granted by the Governor of the State of Victoria, Australia and its dependencies, which initially commenced in 1991 and 1992, respectively, which the Company assumed in its acquisition of Falls Creek and Hotham in April 2019. The leases have terms that expire in fiscal </span><span style="font-family:inherit;font-size:10pt;">2041</span><span style="font-family:inherit;font-size:10pt;"> for Falls Creek and fiscal </span><span style="font-family:inherit;font-size:10pt;">2058</span><span style="font-family:inherit;font-size:10pt;"> for Hotham, and provide for the payment of rent with both a fixed and variable component. The operations of Mad River Mountain is conducted on land under a lease granted by EPT Mad River, Inc., which initially commenced in 2005, which the Company assumed in its acquisition of Peak Resorts in September 2019. The lease has a term that expires in the year ending July 31, 2035, and provides for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent of certain gross revenue generated at the property. Additionally, the Company has entered into strategic long-term season pass alliance agreements with third-party mountain resorts in which the Company has committed to pay minimum revenue guarantees over the remaining terms of these agreements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has executed or assumed as lessee other operating leases for the rental of office and commercial space, employee residential units and land primarily through fiscal </span><span style="font-family:inherit;font-size:10pt;">2079</span><span style="font-family:inherit;font-size:10pt;">. Certain of these leases have renewal terms at the Company&#8217;s option, escalation clauses, rent holidays and leasehold improvement incentives. Rent holidays and rent escalation clauses are recognized on a straight-line basis over the lease term. Leasehold improvement incentives are recorded as leasehold improvements and amortized over the shorter of their economic lives or the term of the lease. For the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, the Company recorded lease expense (including Northstar, Perisher, Falls Creek &amp; Hotham and Mad River Mountain), excluding executory costs, related to these agreements of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e814-wk-Fact-FB769B435BA85C458AC75D5D90EBB3B6" name="us-gaap:LeaseAndRentalExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">58.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e819-wk-Fact-759CA6B4F3BAB044937F5D5D90F4D163" name="us-gaap:LeaseAndRentalExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">57.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5446025e823-wk-Fact-7D2B942BC43AA9BFA6C35D5D90EC26DE" name="us-gaap:LeaseAndRentalExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">52.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, which is included in the accompanying Consolidated Statements of Operations. See Note 4 &#8220;Leases&#8221; for additional information regarding the Company&#8217;s leasing arrangements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Self Insurance</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is self-insured for claims under its U.S. health benefit plans and for the majority of workers&#8217; compensation claims in the U.S. Workers compensation claims in the U.S. are subject to stop loss policies. The self-insurance liability related to workers&#8217; compensation is determined actuarially based on claims filed. The self-insurance liability related to claims under the Company&#8217;s U.S. health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of accrued benefits in accounts payable and accrued liabilities (see Note 8, Supplementary Balance Sheet Information).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Legal</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is a party to various lawsuits arising in the ordinary course of business. Management believes the Company has adequate insurance coverage and/or has accrued for all loss contingencies for asserted and unasserted matters deemed to be probable losses and estimable. As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, the accruals for the above loss contingencies were not material individually or in the aggregate.</span></div></ix:continuation><div><a id="sAC63027D85BC53A292A9619836A3F8A4"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">14.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:SegmentReportingDisclosureTextBlock" id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-0-wk-Fact-E086987FEE706FF9C3E75D5D91A6B3D3" continuedAt="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-1" escape="true">Segment and Geographic Area Information</ix:nonNumeric></span></div><ix:continuation id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-1" continuedAt="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Segment Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has three reportable segments: Mountain, Lodging and Real Estate. The Company refers to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. The Mountain segment includes the operations of the Company&#8217;s mountain resorts/ski areas and related ancillary activities. The Lodging segment includes the operations of the Company&#8217;s owned hotels, RockResorts, NPS concessionaire properties, condominium management, Colorado resort ground transportation operations and mountain resort golf operations. The Real Estate segment owns, develops and sells real estate in and around the Company&#8217;s resort communities. The Company&#8217;s reportable segments, although integral to the success of the others, offer distinctly different products and services and require different types of management focus. As such, these segments are managed separately.</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">106</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-2" continuedAt="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-3"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company reports its segment results using Reported EBITDA (defined as segment net revenue less segment operating expenses, plus or minus segment equity investment income or loss, and for the Real Estate segment, plus gain or loss on sale of real property). The Company reports segment results in a manner consistent with management&#8217;s internal reporting of operating results to the chief operating decision maker (Chief Executive Officer) for purposes of evaluating segment performance.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Items excluded from Reported EBITDA are significant components in understanding and assessing financial performance. Reported EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, net change in cash and cash equivalents or other financial statement data presented in the Consolidated Financial Statements as indicators of financial performance or liquidity.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company utilizes Reported EBITDA in evaluating the performance of the Company and in allocating resources to its segments. Mountain Reported EBITDA consists of Mountain net revenue less Mountain operating expense plus or minus Mountain equity investment income or loss. Lodging Reported EBITDA consists of Lodging net revenue less Lodging operating expense. Real Estate Reported EBITDA consists of Real Estate net revenue less Real Estate operating expense plus gain or loss on sale of real property. All segment expenses include an allocation of corporate administrative expense. Assets are not used to evaluate performance, except as shown in the table below. The accounting policies specific to each segment are the same as those described in Note 2 &#8220;Summary of Significant Accounting Policies.&#8221;</span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">107</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock" id="TextSelection-8D9A2E68FC1367B77FBE5D5D91E320C6-0-wk-Fact-A05AD108F33D46EDD1245D5D919316F8" escape="true"><ix:continuation id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-3" continuedAt="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-4"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e890-wk-Fact-B65AA17DEFD15F40FAC35D5D90D30868" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">913,091</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e904-wk-Fact-94C2E89261121FBC4B945D5D90EA4EB5" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,033,234</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e918-wk-Fact-F0CC14227F753F8E5BF25D5D90D5A6FA" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">880,293</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e933-wk-Fact-FA0E5ECC4D54DCF53A945D5D90E687CC" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">189,131</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e947-wk-Fact-4B0186D90BC9AB871D3B5D5D90D8D45B" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">215,060</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e961-wk-Fact-459FC1CD031D4203CDCF5D5D90EAC389" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">189,910</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e981-wk-Fact-5500D2010491FB64A21D5D5D90D79D84" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">160,763</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e995-wk-Fact-F5B213B9DABC8267BF4D5D5D90E8F964" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">181,837</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1009-wk-Fact-DE45BA47F1F978168F585D5D90D95A83" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">161,402</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/rental</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1029-wk-Fact-9DBB23AFA71D1D2BCB865D5D90D57886" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">270,299</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1043-wk-Fact-7563C57C226401E903AE5D5D90E67117" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">320,267</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1057-wk-Fact-11A627D0D9AB2080EE2D5D5D90E46F19" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">296,466</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1077-wk-Fact-C2EF63F150179BD212495D5D90E1665F" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">177,159</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1091-wk-Fact-0524D23AFDF934BFF8035D5D90D276EC" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">205,803</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1105-wk-Fact-BE6D1496F34A28C25BDA5D5D90E14C63" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">194,851</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1125-wk-Fact-A00C362BECEAC3C71B605D5D90E212AA" name="mtn:MountainRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,710,443</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1139-wk-Fact-8D985D9D6196BB1E43F05D5D90DA26C0" name="mtn:MountainRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,956,201</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1153-wk-Fact-3D923F450CC7078C05DC5D5D90E9118C" name="mtn:MountainRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,722,922</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1173-wk-Fact-C138D921906F2757C1B25D5D90DBAB30" name="mtn:LodgingRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">248,414</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1187-wk-Fact-8A88E895DABB3B6DCFEB5D5D90E968EC" name="mtn:LodgingRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">314,662</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1201-wk-Fact-F97B98F94853BA6B10AC5D5D90DF44D9" name="mtn:LodgingRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">284,643</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1221-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE" name="mtn:ResortRevenueNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,958,857</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1235-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B" name="mtn:ResortRevenueNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,270,863</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1249-wk-Fact-20C24236F537BF44B0EE5D5D918422F6" name="mtn:ResortRevenueNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,007,565</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1270-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C" name="mtn:RealEstateRevenue" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">4,847</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1284-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D" name="mtn:RealEstateRevenue" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">712</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1298-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08" name="mtn:RealEstateRevenue" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,988</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1323-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F" name="us-gaap:Revenues" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,963,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1337-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC" name="us-gaap:Revenues" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,271,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1351-wk-Fact-13BF56D36D16097543555D5D919C600C" name="us-gaap:Revenues" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,011,553</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Segment operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1422-wk-Fact-78327E789856D1E81AE05D5D91A1BBAE" name="mtn:MountainExpensesNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,212,053</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1436-wk-Fact-B05C6FA65B62613F89B080CD973B4320" name="mtn:MountainExpensesNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,279,567</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1450-wk-Fact-BFE8E6CF020C351629ED80CD9B713CB4" name="mtn:MountainExpensesNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,132,840</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1465-wk-Fact-FF2B219560E5A18CB9505D5D915EDE1A" name="mtn:LodgingExpensesNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">245,145</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1479-wk-Fact-C532D8CA91059234E45C80CD974FB1CF" name="mtn:LodgingExpensesNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">286,562</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1493-wk-Fact-46C8709C7138C60C36AF80CD9BB9196D" name="mtn:LodgingExpensesNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">259,637</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1513-wk-Fact-74E86C455965E566624C5D5D90D238CA" name="mtn:ResortExpensesNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,457,198</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1527-wk-Fact-8FC429A8B8A381D1418E5D5D91C15CCD" name="mtn:ResortExpensesNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,566,129</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1541-wk-Fact-DD0831EE75344C2AE9C25D5D91BD5E0D" name="mtn:ResortExpensesNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,392,477</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1561-wk-Fact-F1C84D4F112C138963A35D5D91A7F945" name="mtn:RealEstateExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">9,182</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1575-wk-Fact-7EAF9AB568E8FEE3E2C17F5EC6B52B61" name="mtn:RealEstateExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,609</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1589-wk-Fact-229EB45CEE10278BAF565D5D91B1D2BC" name="mtn:RealEstateExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,546</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total segment operating expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1614-wk-Fact-63195EA80CC4D450729B5D5D91B7AE2C" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,466,380</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1628-wk-Fact-57CA93843081BEFFB1475D5D91BB8B40" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,571,738</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1642-wk-Fact-21B037E5F06E214615495D5D90DCC13F" name="mtn:OperatingCostsExpensesAndCostOfSales" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,396,023</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of real property</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1662-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">207</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1676-wk-Fact-051891509C1C988E4A3D5D5D91B3953E" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">580</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1690-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993" name="mtn:GainOnSaleOfRealProperty" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">515</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1710-wk-Fact-A3EFF628595036A1DFBC5D5D91B97307" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,690</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1724-wk-Fact-632AEA39C0B374BE9D495D5D90CF9E5B" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,960</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1738-wk-Fact-544889EAB6C42557F9215D5D917BEF7C" name="mtn:MountainEquityInvestmentIncomeLossNet" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,523</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1810-wk-Fact-8EAD2906C2599498D55F5D5D919580E9" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">500,080</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1824-wk-Fact-68C7F3E5133B7B5A838E80CD9C5F74D7" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">678,594</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1838-wk-Fact-9337AAA4BDFABC61269780CD9BC5BD1B" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">591,605</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1853-wk-Fact-73782284B75F146BA9465D5D9193A8CA" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,269</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1867-wk-Fact-65121E7AFE159FC3416C80CD9BF8E937" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,100</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1881-wk-Fact-433F5F9D83C8F809AA2E80CD9C1E1C5F" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">25,006</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1901-wk-Fact-7346D4604A83310CCD5F80CD9B7F29CC" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">503,349</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1915-wk-Fact-DEC750989B2ED494B8CC80CD9C6E26E7" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">706,694</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1929-wk-Fact-CC3C6A9CDE015FA8CC3580CD9743E1D7" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">616,611</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e1949-wk-Fact-B821B3E73706055B96F35D5D90F2F234" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,128</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e1964-wk-Fact-2ACC1F21C0F417512AAD80CD9C3E39EC" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,317</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e1979-wk-Fact-F71073A930BF9C8070C080CD9CB27F36" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">957</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2004-wk-Fact-28B88D7DEECF782BC78580CD9BCA87A8" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">499,221</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2018-wk-Fact-8A7E112C8605B0A5B8E280CD9B91D324" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">702,377</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2032-wk-Fact-AE861D7B6D7D7FEB09D580CD9C260E2B" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">617,568</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2052-wk-Fact-9A3BF23642834B18253F5D5D90FF91CC" name="us-gaap:InventoryRealEstate" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">96,844</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2066-wk-Fact-9B1AA3C0CB1932F35B315D5D9117C8EE" name="us-gaap:InventoryRealEstate" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">101,021</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2080-wk-Fact-3118FE1C3AA7785BD0E680CD9C976008" name="us-gaap:InventoryRealEstate" contextRef="FI2018Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">99,385</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2151-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2165-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2179-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733" name="us-gaap:NetIncomeLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">379,898</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2194-wk-Fact-4BC34695554512EEB0875D5D91B3F067" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">10,222</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2208-wk-Fact-54C4B4F7BF089BB8CD265D5D919C9E8C" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">22,330</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2222-wk-Fact-BF6DEC6DCFDA8C0335345D5D919E7139" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">21,332</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2242-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2256-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2270-wk-Fact-1E65FF562F222C37D6D65D5D90D68289" name="us-gaap:ProfitLoss" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2290-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">7,378</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2304-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,472</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2318-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7" name="us-gaap:IncomeTaxExpenseBenefit" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">61,138</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2340-wk-Fact-B3778B60CAA905DEBAE05D5D90CED58E" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">116,433</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2354-wk-Fact-9BCBCFA1F4052CB2A2225D5D91BF0308" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">398,965</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2368-wk-Fact-0CF92A300F25E70668165D5D90D5020D" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">340,092</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2388-wk-Fact-F4485E3233F0941E09F85D5D918BA840" name="us-gaap:DepreciationAndAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">249,572</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2402-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1" name="us-gaap:DepreciationAndAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">218,117</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2416-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E" name="us-gaap:DepreciationAndAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">204,462</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2436-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B" name="us-gaap:AssetImpairmentCharges" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">28,372</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2450-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9" name="us-gaap:AssetImpairmentCharges" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2464-wk-Fact-FF6806CC8358D78074357F5F349F727A" name="us-gaap:AssetImpairmentCharges" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:zerodash">&#8212;</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Gain) loss on disposal of fixed assets and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2484-wk-Fact-0E672D5DA143D419508F5D5D91B15B97" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">838</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2499-wk-Fact-2EB6EE263D796553A5F35D5D918983E7" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">664</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2513-wk-Fact-1BAF7613F6102F3967B45D5D91A43D90" name="us-gaap:GainLossOnDispositionOfAssets" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">4,620</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2533-wk-Fact-592260D8F722569C62AF5D5D90D3F18B" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,964</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2548-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">5,367</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2562-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8" name="mtn:ChangeinFairValueofContingentConsideration" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">1,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment income and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2583-wk-Fact-B758075EEA82D3FD17B15D5D90D666ED" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,305</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2598-wk-Fact-705C7CC30FA223900A9C5D5D91B2EF40" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">3,086</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5449084e2613-wk-Fact-B4450D06176A074006365D5D9170158B" name="us-gaap:InvestmentIncomeInterest" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,944</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2634-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">3,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2648-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">2,854</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2662-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">8,966</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2682-wk-Fact-3DCFFCC3B6808C730D295D5D918AE373" name="us-gaap:InterestExpense" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">106,721</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2696-wk-Fact-FC772F1B7753BB9545A45D5D91B3CF46" name="us-gaap:InterestExpense" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">79,496</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2710-wk-Fact-5261758C4F75E6A002615D5D90DDDAA1" name="us-gaap:InterestExpense" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">63,226</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2735-wk-Fact-28B88D7DEECF782BC78580CD9BCA87A8" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">499,221</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2749-wk-Fact-8A7E112C8605B0A5B8E280CD9B91D324" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">702,377</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2763-wk-Fact-AE861D7B6D7D7FEB09D580CD9C260E2B" name="mtn:EarningBeforeInterestTaxesDepreciationAndAmortization" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">617,568</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:nonNumeric><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">108</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:RevenueFromExternalCustomersByGeographicAreasTableTextBlock" id="TextSelection-130D39C02DBF9F2DE46D5D5D91E36ED6-0-wk-Fact-A4FDE1370352F325C5305D5D919FE89A" escape="true"><ix:continuation id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-4"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Geographic Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:52%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net revenue</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2928-wk-Fact-D9163D9F5DEA63FACFF680CDB0D0BE75" name="us-gaap:Revenues" contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,655,961</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2942-wk-Fact-134975B1223DECFCA96380CDB0A79A1E" name="us-gaap:Revenues" contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,865,062</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2956-wk-Fact-FA1EF1E552036B18192980CDB0B37ED2" name="us-gaap:Revenues" contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,610,323</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2973-wk-Fact-D304FE63250D25F3308580CDB0CB11EA" name="us-gaap:Revenues" contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">307,743</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e2987-wk-Fact-362382FE178EB52C8C5780CDB0D9323D" name="us-gaap:Revenues" contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">406,513</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3001-wk-Fact-926AC9989CA6BFF7660080CDB0DF5B58" name="us-gaap:Revenues" contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">401,230</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3026-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F" name="us-gaap:Revenues" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,963,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3040-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC" name="us-gaap:Revenues" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,271,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3054-wk-Fact-13BF56D36D16097543555D5D919C600C" name="us-gaap:Revenues" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,011,553</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3241-wk-Fact-339023A878D409ABEB4580CDB09A9F6D" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,759,692</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3255-wk-Fact-9B33113627C76503F48280CDB0D5193B" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,381,378</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3287-wk-Fact-E6AE1300B9CE54A1795D80CDB0B8C196" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">432,987</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3301-wk-Fact-F2B9A40CC915C4FC2F8A80CDB0BD2078" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">461,122</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3341-wk-Fact-64306ED28AA8F0789DF35D5D910EC878" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,192,679</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5449084e3355-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,842,500</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1) The only individual international country (i.e. except the U.S.) to account for more than 10% of the Company&#8217;s revenue and property plant and equipment, net was Canada. Canada accounted for </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5449084e3364-wk-Fact-C71BA086FAAF2C63C04480E556D2B654" name="us-gaap:Revenues" contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">223.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5449084e3368-wk-Fact-7136D1E48EA6C4CCB3425D5D919D9A3F" name="us-gaap:Revenues" contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">308.1</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5449084e3372-wk-Fact-B03309F39ECCD4AB895A5D5D91A19AEE" name="us-gaap:Revenues" contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">321.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of revenue for the years ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, and for </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5449084e3389-wk-Fact-E64A0FB5F1D2FC0C90AA80E5B2572ABE" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">291.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5449084e3393-wk-Fact-6D18CC281EB8D37F052A5D5D91940D0D" name="us-gaap:PropertyPlantAndEquipmentNet" contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember" unitRef="usd" decimals="-3" scale="6" format="ixt:numdotdecimal">319.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of property, plant and equipment, net as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div></ix:continuation></ix:nonNumeric><div><a id="s80B138321D27534EA5B10CEEB1834B35"></a></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">15.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:QuarterlyFinancialInformationTextBlock" id="TextSelection-5A705A481E0A515E5C0D5D5D91E30048-0-wk-Fact-C5E632E2A166627883C15D5D91A365EC" continuedAt="TextSelection-5A705A481E0A515E5C0D5D5D91E30048-1" escape="true">Selected Quarterly Financial Data (Unaudited)</ix:nonNumeric></span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock" id="TextSelection-5FE440CBD30C30497DE55D5D91E3F2E7-0-wk-Fact-13C43D6C605C958DB52B5D5D91A4DACB" escape="true"><ix:continuation id="TextSelection-5A705A481E0A515E5C0D5D5D91E30048-1"><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"></td></tr><tr><td style="width:35%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e903-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F" name="us-gaap:Revenues" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">1,963,704</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e917-wk-Fact-B69912F2703EC30FA6365D5D90EC76C2" name="us-gaap:Revenues" contextRef="FD2020Q4QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">77,209</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e931-wk-Fact-FE60DB3BAA4B987F3A115D5D90F71DCB" name="us-gaap:Revenues" contextRef="FD2020Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">694,087</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e946-wk-Fact-5A9605E7346CD51230935D5D90F52CCB" name="us-gaap:Revenues" contextRef="FD2020Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">924,638</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e960-wk-Fact-4E8513223EF114868D3D5D5D90EC0CB6" name="us-gaap:Revenues" contextRef="FD2020Q1QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">267,770</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e980-wk-Fact-6DEB8E23CF4F112214B55D5D91B08AE7" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">223,389</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e994-wk-Fact-EDA32C8361A9981FCF825D5D91A6D798" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">170,046</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1009-wk-Fact-0003B5B44252E38A13FE5D5D91A00580" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">218,232</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1024-wk-Fact-F1F79632F234198D42AE5D5D91A42129" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">310,733</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1038-wk-Fact-A875089DAE4C5B911D195D5D91AE15CD" name="us-gaap:OperatingIncomeLoss" contextRef="FD2020Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">135,530</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1059-wk-Fact-593D73702776835233895D5D90D206DE" name="us-gaap:ProfitLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">109,055</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1073-wk-Fact-A783B44F5D6F16287A535D5D919C052D" name="us-gaap:ProfitLoss" contextRef="FD2020Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">157,965</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1088-wk-Fact-7043CAB976644FCDB5765D5D91A4C9AE" name="us-gaap:ProfitLoss" contextRef="FD2020Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">159,831</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1103-wk-Fact-3A5C547F9E6BAC631DFA5D5D90EF9FBB" name="us-gaap:ProfitLoss" contextRef="FD2020Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">217,018</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1117-wk-Fact-BA3F565AA52FD1B18B6E5D5D91AD7ED9" name="us-gaap:ProfitLoss" contextRef="FD2020Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">109,829</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1138-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">98,833</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1152-wk-Fact-275A05CA5AAC36E7AB165D5D91BF30D0" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">153,608</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1167-wk-Fact-77CD54180B0A3EC8EB945D5D919F49F0" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">152,546</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1182-wk-Fact-6F409B2A2CF21C1C30B35D5D90F24F40" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">206,370</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1196-wk-Fact-386E2A77C35572CA02CE5D5D90F687F8" name="us-gaap:NetIncomeLoss" contextRef="FD2020Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">106,475</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1217-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.45</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1231-wk-Fact-95B53DC139E44AD8AA905D5D90C84935" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q4QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">3.82</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1246-wk-Fact-16364515ACDB58CB23265D5D91AB3DDB" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q3QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">3.79</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1261-wk-Fact-B153AD8A589FB2CA2BCB5D5D91B5C4F0" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q2QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.12</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1275-wk-Fact-4EA90CCEBC1E0A3BC9FB5D5D91B5C808" name="us-gaap:EarningsPerShareBasic" contextRef="FD2020Q1QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.64</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1296-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">2.42</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1310-wk-Fact-80C9BC5D1DAC86BDDA665D5D919F561E" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q4QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">3.82</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1325-wk-Fact-9C608F9CE4D5FC5937145D5D9186CBCC" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q3QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">3.74</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1340-wk-Fact-7B5A14BF81359263A2F85D5D91B778CC" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q2QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.04</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1354-wk-Fact-27E1D7410DE38AC0E80D5D5D919C3A2D" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2020Q1QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.64</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"></td></tr><tr><td style="width:35%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First <br/>Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1564-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC" name="us-gaap:Revenues" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">2,271,575</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1578-wk-Fact-FBA46D74B2C36CD27CCB5D5D91A88695" name="us-gaap:Revenues" contextRef="FD2019Q4QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">244,006</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1592-wk-Fact-FE098DC1D0E8466ED6435D5D91909FE9" name="us-gaap:Revenues" contextRef="FD2019Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">957,987</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1607-wk-Fact-DA3488ABEC30C49493B85D5D90D55E4D" name="us-gaap:Revenues" contextRef="FD2019Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">849,578</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1621-wk-Fact-9780DD833677A3B0CBBB5D5D919E86E8" name="us-gaap:Revenues" contextRef="FD2019Q1QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">220,004</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1641-wk-Fact-A64FCE6679D0CB76FAE65D5D90DD09F9" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">476,269</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1655-wk-Fact-970CA728B282E565B4275D5D90F04F03" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">120,582</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1670-wk-Fact-36EEB19779A63AEEE99B5D5D90F08257" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">422,598</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1685-wk-Fact-98E824F5258EC937BA945D5D91AB3F11" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,848</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1699-wk-Fact-ACF9F900197D9935A3A95D5D91A4B34B" name="us-gaap:OperatingIncomeLoss" contextRef="FD2019Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">127,595</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1720-wk-Fact-813790F99F93EE4E35035D5D91AB5D47" name="us-gaap:ProfitLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">323,493</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1734-wk-Fact-A50AB01804E54246A6F95D5D90D2EDC1" name="us-gaap:ProfitLoss" contextRef="FD2019Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">92,301</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1749-wk-Fact-180A7584A0FA156BAAE45D5D91A41CB1" name="us-gaap:ProfitLoss" contextRef="FD2019Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">308,530</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1764-wk-Fact-9E4726508D115451B8EC5D5D91A788F5" name="us-gaap:ProfitLoss" contextRef="FD2019Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">217,990</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1778-wk-Fact-AA022828C49C97B574C55D5D919AD67F" name="us-gaap:ProfitLoss" contextRef="FD2019Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">110,726</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1799-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">301,163</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1813-wk-Fact-9AD166F287CD2246B5085D5D91A53029" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q4QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">89,525</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1828-wk-Fact-962E553F8B9F76C33D3B5D5D919EAABA" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q3QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">292,134</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1843-wk-Fact-F5D936E24D46551794AE5D5D91B9551E" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q2QTD" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">206,349</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1857-wk-Fact-3E51D1FD07713F7EA95B5D5D91928662" name="us-gaap:NetIncomeLoss" contextRef="FD2019Q1QTD" unitRef="usd" decimals="-3" scale="3" sign="-" format="ixt:numdotdecimal">107,795</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1878-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1892-wk-Fact-F355531502F1F35074E65D5D90EE9B29" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q4QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.22</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1907-wk-Fact-D0070DF50FD9E88979BD5D5D9190CA64" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q3QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.26</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1922-wk-Fact-82AC7469AE45A8964DB15D5D91A9DC64" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q2QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.12</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1936-wk-Fact-BFFC909B01CC414760E25D5D90EEC594" name="us-gaap:EarningsPerShareBasic" contextRef="FD2019Q1QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.66</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1957-wk-Fact-769B2B2962B5367305AD5D5D91863542" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.32</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e1971-wk-Fact-41F3AFC99A0F8A295E3F5D5D90CFEABC" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q4QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.22</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e1986-wk-Fact-51C32BB36A5F49B21D155D5D9194DDF3" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q3QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">7.12</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450684e2001-wk-Fact-079DEF137A9DCB725FA05D5D919EE964" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q2QTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">5.02</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5450684e2015-wk-Fact-F8A50A3DDDBE2A742F695D5D91A4FC89" name="us-gaap:EarningsPerShareDiluted" contextRef="FD2019Q1QTD" unitRef="usdPerShare" decimals="2" scale="0" sign="-" format="ixt:numdotdecimal">2.66</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation></ix:nonNumeric><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">109</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sF0F0A52442B459AF88982893D0223793"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">16.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfTreasuryStockByClassTextBlock" id="TextSelection-2C2242C9C54EAFC03C025D5D91E3CE68-0-wk-Fact-81C37F885E8CA319B1685D5D91B1D8DA" continuedAt="TextSelection-2C2242C9C54EAFC03C025D5D91E3CE68-1" escape="true">Share Repurchase Program</ix:nonNumeric></span></div><ix:continuation id="TextSelection-2C2242C9C54EAFC03C025D5D91E3CE68-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March&#160;9, 2006, the Company&#8217;s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e681-wk-Fact-D0A3994A5A63E5EB574B5D5D918FF4EB" name="us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" contextRef="I2006Q3" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">3,000,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares. On July&#160;16, 2008, the Company&#8217;s Board of Directors increased the authorization by an additional </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e685-wk-Fact-3AC925E7614F9DC8C78E5D5D91A21933" name="mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" contextRef="I2008Q4SD" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">3,000,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares, and on December 4, 2015, the Company&#8217;s Board of Directors increased the authorization by an additional </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e689-wk-Fact-E7DCFC2273AB5D3AD2D65D5D91AAF2EE" name="mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" contextRef="I2016Q2SharesAuthorized" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">1,500,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares for a total authorization to repurchase shares of up to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e693-wk-Fact-A1152043F3269F32FA185D5D91AFD4DB" name="us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" contextRef="FI2020Q4" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">7,500,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares. During the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e702-wk-Fact-15D025989D22AA0B17585D5D918AEB00" name="us-gaap:TreasuryStockSharesAcquired" contextRef="FD2020Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">256,418</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450825e706-wk-Fact-1A0153A04005D7298AA95D5D91ADF7EB" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">46.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">). During the year ended July 31, 2019, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e710-wk-Fact-FAE8ED0D40FB812C27105D5D91A71857" name="us-gaap:TreasuryStockSharesAcquired" contextRef="FD2019Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">353,007</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450825e714-wk-Fact-B45742AE8BA5444BF7535D5D91AB1B71" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">85.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">). During the year ended July 31, 2018, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e718-wk-Fact-A3E478809D0334365B255D5D91A92849" name="us-gaap:TreasuryStockSharesAcquired" contextRef="FD2018Q4YTD" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">115,422</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450825e722-wk-Fact-F4105E30F055A34593055D5D91A1CF2B" name="us-gaap:PaymentsForRepurchaseOfCommonStock" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">25.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">). Since inception of this stock repurchase program through </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company has repurchased </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e731-wk-Fact-DDE9E4D51B94431832FF5D5D91AFE442" name="us-gaap:TreasuryStockShares" contextRef="FI2020Q4" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">6,161,141</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> shares at a cost of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450825e735-wk-Fact-8594968C8B43D4020AD283A003B6C091" name="us-gaap:TreasuryStockValue" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">404.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">. As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450825e743-wk-Fact-E9B7F55C15B0849DD8A75D5D919F201C" name="us-gaap:StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" contextRef="FI2020Q4" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">1,338,859</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares remained available to repurchase under the existing share repurchase program, which has no expiration date. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for issuance under the Company&#8217;s employee share award plan.</span></div></ix:continuation><div><a id="sDAE2C03265EB5F388AC513B6710757B3"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">17.&#160;&#160;&#160;&#160;Stoc<ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" id="TextSelection-B05738235EA958F84BB45D5D91E40EE4-0-wk-Fact-28AAC7CF69B426DE56235D5D919D551A" continuedAt="TextSelection-B05738235EA958F84BB45D5D91E40EE4-1" escape="true">k Compensation Plan</ix:nonNumeric></span></div><ix:continuation id="TextSelection-B05738235EA958F84BB45D5D91E40EE4-1" continuedAt="TextSelection-B05738235EA958F84BB45D5D91E40EE4-2"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has a share award plan (the &#8220;Plan&#8221;) which has been approved by the Company&#8217;s stockholders. Under the Plan, up to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e681-wk-Fact-BBE9C3C46DFED97049CE5D5D91C191BD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" contextRef="FI2020Q4" unitRef="shares" decimals="-5" scale="6" format="ixt:numdotdecimal">4.4</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> shares of common stock could be issued in the form of options, stock appreciation rights, restricted shares, restricted share units, performance shares, performance share units, dividend equivalents or other share-based awards to employees, directors or consultants of the Company or its subsidiaries or affiliates. The terms of awards granted under the Plan, including exercise price, vesting period and life, are set by the Compensation Committee of the Board of Directors. All share-based awards (except for restricted shares and restricted share units) granted under the Plan have a life of </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5452541e685-wk-Fact-70EE3B13A0309886A18F5D5D91BD3E69" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" contextRef="FD2020Q4YTD" format="ixt-sec:durwordsen">ten years</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">. Most awards vest ratably over </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5452541e689-wk-Fact-2F5E48042B72F1D2E32C5D5D91B0CFDD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" contextRef="FD2020Q4YTD" format="ixt-sec:durwordsen">three years</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;">; however, some have been granted with different vesting schedules. Of the awards outstanding, none have been granted to non-employees (except those granted to non-employee members of the Board of Directors of the Company) under the Plan. At </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, approximately </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e697-wk-Fact-E90FCD427DC7B6080BEE5D5D91AA8E15" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" contextRef="FI2020Q4" unitRef="shares" decimals="-5" scale="6" format="ixt:numdotdecimal">3.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> share based awards were available to be granted under the Plan.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The fair value of stock-settled stock appreciation rights (&#8220;SARs&#8221;) granted in the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> were estimated on the date of grant using a lattice-based option valuation model that applies the assumptions noted in the table below. A lattice-based model considers factors such as exercise behavior, and assumes employees will exercise equity awards at different times over the contractual life of the equity awards. As a lattice-based model considers these factors, and is more flexible, the Company considers it to be a better method of valuing equity awards than a closed-form Black-Scholes model. Because lattice-based option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatility is based on historical volatility of the Company&#8217;s stock. The Company uses historical data to estimate equity award exercises and employee terminations within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of equity awards granted is derived from the output of the option valuation model and represents the period of time that equity awards granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. <ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" id="TextSelection-6EFA6E61227992826E065D5D91E49048-0-wk-Fact-5F9EAB8272653C00BA925D5D918E0933" continuedAt="TextSelection-6EFA6E61227992826E065D5D91E49048-1" escape="true">The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.</ix:nonNumeric></span></div><ix:continuation id="TextSelection-6EFA6E61227992826E065D5D91E49048-1"><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:52%;"></td><td style="width:16%;"></td><td style="width:16%;"></td><td style="width:16%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected volatility</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e791-wk-Fact-D7A0F1AE34D06BC407395D5D90EFDB63" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="FD2020Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">29.7</ix:nonFraction>%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e796-wk-Fact-2ACC0DF0A9FA616001AB5D5D90ED7848" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="FD2019Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">38.6</ix:nonFraction>%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e801-wk-Fact-B9E29C247936C68287115D5D90EDB1DD" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="FD2018Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">40.0</ix:nonFraction>%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected dividends</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e812-wk-Fact-A96AC114BB0C1E0835915D5D90EFC2D4" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" contextRef="FD2020Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">2.8</ix:nonFraction>%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e817-wk-Fact-484815E1448D1DEA6E6D5D5D90EECE86" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" contextRef="FD2019Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">2.1</ix:nonFraction>%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e822-wk-Fact-87AF422802293C280EFA5D5D90F6D183" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" contextRef="FD2018Q4YTD" unitRef="number" decimals="INF" scale="-2" format="ixt:numdotdecimal">2.0</ix:nonFraction>%</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected term (average in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.5-7.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.0-6.6</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.8-6.4</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Risk-free rate</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.8-2.0%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.4-2.9%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.2-2.3%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:continuation><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company records actual forfeitures related to unvested awards upon employee terminations. </span></div></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">110</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-B05738235EA958F84BB45D5D91E40EE4-2" continuedAt="TextSelection-B05738235EA958F84BB45D5D91E40EE4-3"><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock" id="TextSelection-B393341867D35F1E4A575D5D91E4CC9A-0-wk-Fact-60B9D2A0ABE8D67190B75D5D91ADEEE4" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of aggregate SARs award activity under the Plan as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:36%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:16%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exercise Price</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contractual Term</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Aggregate</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Intrinsic</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at August 1, 2017</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e998-wk-Fact-79BDBB6D52E11C84F3335D5D90D26837" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2017Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">2,290</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1012-wk-Fact-DCEEA59ADEFD661301BC5D5D91B4F5B9" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" contextRef="FI2017Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">59.12</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1047-wk-Fact-B3128A5A4A18F6CE46C95D5D90D88C9B" name="mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">86</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1061-wk-Fact-3EB0D6A00D3327A8C4DC5D5D90D4D76A" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">237.86</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1096-wk-Fact-5512EEE9E8C04FCBD7145D5D90CDDBEE" name="mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,049</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1111-wk-Fact-9C6DF8B2EFB8213F978A5D5D90C8C925" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">33.25</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1146-wk-Fact-1015F959CDE1E8185DF35D5D91B786A2" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" contextRef="FD2018Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">3</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1161-wk-Fact-74B64EB2A7A5766A94305D5D91AFA43F" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" contextRef="FD2018Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">172.03</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2018</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1196-wk-Fact-C664DA75208F3605D6385D5D91BB1A5B" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2018Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,324</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1210-wk-Fact-3D1D56023C43B66B175D5D5D91BFFD98" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" contextRef="FI2018Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">91.01</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1245-wk-Fact-BF962AF0CE24971C2F7D5D5D90C972D2" name="mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">80</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1259-wk-Fact-C7B0063ED37BD87582545D5D91A5559F" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">293.82</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1294-wk-Fact-CAF9A4D8EECAB51F04775D5D91C1C73D" name="mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">219</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1309-wk-Fact-CAEF5766A45ECF0EF8825D5D90CE1A6B" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">49.09</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1344-wk-Fact-AC0CA390DD4EF8410BFC5D5D90D042AE" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" contextRef="FD2019Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">14</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1359-wk-Fact-2BD689C146DACEECC2B85D5D91B9B77E" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" contextRef="FD2019Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">217.58</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1394-wk-Fact-BACFA2017CD8691A60CE5D5D90C95381" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2019Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,171</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1408-wk-Fact-A23D65F6FAC070AA3B125D5D91B90E2A" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" contextRef="FI2019Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">111.12</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1443-wk-Fact-9A45B3D4622B914914E25D5D91BDD0F1" name="mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">146</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1457-wk-Fact-84114C979F20C85992235D5D90C88FF6" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">245.26</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1493-wk-Fact-D627F60626D9B89C9C935D5D91BCB2D4" name="mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">247</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1508-wk-Fact-7300FEFB160F8C7EBC415D5D90C9C886" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">67.19</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1543-wk-Fact-B0E1521BF58F99D13B045D5D91AFB73E" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" contextRef="FD2020Q4YTD" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">9</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1558-wk-Fact-E15DD8ACA0AF73424E295D5D90CCB14E" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" contextRef="FD2020Q4YTD" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">252.75</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1593-wk-Fact-9877C75C5A2605E8B66E5D5D91B3B7B9" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2020Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,061</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1607-wk-Fact-EC43DE8AF4AC5F9293B35D5D90CC5C17" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" contextRef="FI2020Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">138.59</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5452541e1616-wk-Fact-7EC805AB4A6BF11CBB0F5D5D90D1AE0E" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm" contextRef="FD2020Q4YTD" format="ixt-sec:duryear">5.0</ix:nonNumeric> years</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1626-wk-Fact-6964C4917330BCD91DC35D5D91C13FFB" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,736</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested and expected to vest at July 31, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1641-wk-Fact-CDDA1E96C41BD54759EF5D5D90C94007" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber" contextRef="FI2020Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">1,042</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1655-wk-Fact-7BED1F6121BDED61CA355D5D90D1E37B" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" contextRef="FI2020Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">136.66</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5452541e1664-wk-Fact-B5FCE1D30648ED50AB725D5D91BAB11F" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" contextRef="FD2020Q4YTD" format="ixt-sec:duryear">4.9</ix:nonNumeric> years</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1674-wk-Fact-C2B6901565E548F95E3F5D5D91B5B9E3" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,736</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercisable at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1689-wk-Fact-0F011DE9936937536AC85D5D90CD9614" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber" contextRef="FI2020Q4" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">846</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1703-wk-Fact-F84481D6502EE0B7AA945D5D90CF33C8" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice" contextRef="FI2020Q4" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">108.73</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5452541e1712-wk-Fact-7FA84CA9AF590AC52F475D5D90DB76DB" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm" contextRef="FD2020Q4YTD" format="ixt-sec:duryear">4.1</ix:nonNumeric> years</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1722-wk-Fact-2D91D597C3B3249D5CEA5D5D91BB5143" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue" contextRef="FI2020Q4" unitRef="usd" decimals="-3" scale="3" format="ixt:numdotdecimal">75,736</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The weighted-average grant-date estimated fair value of SARs granted during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1755-wk-Fact-BD16841D239727125B005D5D91BC2554" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">58.25</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1759-wk-Fact-E1B696CE6CD2D0BD341E5D5D919477BB" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">98.19</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1764-wk-Fact-C41CE25C4DAC5181F7B35D5D91A81003" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">78.07</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The total intrinsic value of SARs exercised during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1780-wk-Fact-B065A57D2A1CC14D3B9D5D5D91A59BC4" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">35.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1784-wk-Fact-BCEBAA53F09C3F5DE1CF5D5D91B4255F" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">41.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1789-wk-Fact-32C8FDFD5AE2AF5BD5C55D5D91A2295A" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">213.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The Company had </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1793-wk-Fact-894A9BF18587C22BEEC15D5D91ADC0D4" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">91,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1797-wk-Fact-D1C9BCDF66AC6267BE405D5D918F62BF" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">131,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1801-wk-Fact-DD030D1D45CD54E8B5685D5D91BDA092" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="0" scale="0" format="ixt:numdotdecimal">169,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> SARs that vested during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.&#160;These awards had a total estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1818-wk-Fact-620007FF26E45BAC91C65D5D91B89401" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">2.6</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1822-wk-Fact-E4330C8F408E1A0E42FE5D5D91BADA0D" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">15.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e1826-wk-Fact-C923E30C03FFC50A574F5D5D919F2F9B" name="us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">18.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> at the date of vesting for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" id="TextSelection-8F86A1E6B6C5B077B9695D5D91E4FFCE-0-wk-Fact-6E60A12D94EB20A3ED0E5D5D91A73C6E" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested SARs as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:64%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:16%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1913-wk-Fact-49D6EF13EA0E457A4B345D5D91A7A60F" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">168</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1923-wk-Fact-82233439833D73E7339B5D5D91A764E9" name="mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" contextRef="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">80.75</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1938-wk-Fact-EAEE4D8083789DD2FFCE5D5D91B183F6" name="mtn:ShareBasedCompensationArrangementSarsGrantsInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">146</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1948-wk-Fact-0149C8FC7BF18421D9C15D5D91ACAFC1" name="mtn:ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">58.25</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1963-wk-Fact-5707C30FADB72E5175765D5D91AC5AFF" name="mtn:ShareBasedCompensationArrangementSarsVestedInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">91</ix:nonFraction>)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1973-wk-Fact-3EB385B8828F1DBA7A4E5D5D90CA39BF" name="mtn:ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">71.57</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e1988-wk-Fact-8900349A7FBA4AA31AAB5D5D91BC1266" name="mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">8</ix:nonFraction>)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e1998-wk-Fact-30660E961E31393A4F3A5D5D91AEF758" name="mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">79.23</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2013-wk-Fact-7570B53271D6B2D680305D5D91A2E1B3" name="mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" contextRef="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">215</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2023-wk-Fact-A8A7DD1AE1FA5084166F5D5D91B05786" name="mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" contextRef="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">69.45</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric><ix:nonNumeric contextRef="FD2020Q4YTD" name="us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" id="TextSelection-D32AEBC08B0824C5CB485D5D91E36C29-0-wk-Fact-6EFCCF3DF71BD37604785D5D91BE83F8" escape="true"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested restricted share units as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:64%;"></td><td style="width:18%;"></td><td style="width:1%;"></td><td style="width:16%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2112-wk-Fact-F2BEDC1331081AE5485B5D5D91AF14D3" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" contextRef="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">126</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2122-wk-Fact-DCB4CAB18AB88E9A568C5D5D91A9778C" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" contextRef="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">230.10</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2137-wk-Fact-FB2C8F11EC2195C4DC035D5D91AF9726" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">83</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2147-wk-Fact-4BA8B1F144666C0D56805D5D91A58219" name="mtn:ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">217.46</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e2162-wk-Fact-4ED5A7AE70A76B85358E5D5D9196FE13" name="mtn:NumberOfRestrictedStockUnitsVestedDuringPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">63</ix:nonFraction>)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2172-wk-Fact-42CF126059780CEF3F685D5D91A8CC07" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">216.07</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(<ix:nonFraction id="d5452541e2187-wk-Fact-53F5EA20662774637A885D5D91A55C68" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">16</ix:nonFraction>)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2197-wk-Fact-F1B973260B01EAACF4185D5D91A299CA" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">229.97</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2212-wk-Fact-B08A3DFEA01A9D8749635D5D91AD5B8D" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" contextRef="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="-3" scale="3" format="ixt:numdotdecimal">130</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2222-wk-Fact-6C1EF6DD9C782622C3EE5D5D919DF9C5" name="mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" contextRef="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">228.77</ix:nonFraction></span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></ix:nonNumeric></ix:continuation><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">111</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><ix:continuation id="TextSelection-B05738235EA958F84BB45D5D91E40EE4-3"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2245-wk-Fact-820441D1B24C91DC16C35D5D90CAC2F9" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">83,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2253-wk-Fact-50114CA875D456E031955D5D91AC40C6" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">217.46</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">. The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2257-wk-Fact-C960CEE175531F6AC06A5D5D919AF3C6" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">68,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2019</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2266-wk-Fact-477C4FCF0C3A224B49705D5D91AD4B71" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">264.44</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">. The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2270-wk-Fact-55371BC677DF7A7A22795D5D91B6FF6D" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">77,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2018</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2278-wk-Fact-6723547B5E03DD146C655D5D90C83DDF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usdPerShare" decimals="2" scale="0" format="ixt:numdotdecimal">215.14</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">. The Company had </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2282-wk-Fact-698C134011929047DBD45D5D90CA48A7" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">63,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2286-wk-Fact-A9D2072B75225D1EA2865D5D91B0E244" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">102,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5452541e2291-wk-Fact-F337C17FD6AF98DB23385D5D91B6BCE3" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="shares" decimals="INF" scale="0" format="ixt:numdotdecimal">101,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units that vested during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively. These units had a total estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2307-wk-Fact-E31ACB120143740532CB5D5D91A7504D" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">14.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2312-wk-Fact-B53B0BAA791DDA594D995D5D90CB4833" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">28.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2316-wk-Fact-BC0EB19790357ED78E9C5D5D91B10B78" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">23.5</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> at the date of vesting for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, there was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2339-wk-Fact-3880181D5029DD09179B5D5D91B2DED7" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" contextRef="FI2020Q4" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">25.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of total unrecognized compensation expense related to nonvested share-based compensation arrangements granted under the Plan, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2343-wk-Fact-7D446ABB00E4D10263575D5D91A016CA" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" contextRef="FI2021Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">15.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2347-wk-Fact-9E4E3D7FA63248EA3D9D5D5D91B25364" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" contextRef="FI2022Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">9.0</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2351-wk-Fact-A179625F9A6A90E3F7C75D5D91A420F6" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" contextRef="FI2023Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">1.2</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> of expense is expected to be recognized in the years ending </span><span style="font-family:inherit;font-size:10pt;">July 31, 2021</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2022</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2023</span><span style="font-family:inherit;font-size:10pt;">, respectively, assuming no share-based awards are granted in the future or forfeited. The tax benefit realized or expected to be realized from SARs exercised and restricted stock units vested was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2368-wk-Fact-6DAFB2EC2A499FC718305D5D91AC84F8" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">12.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2372-wk-Fact-E2A854779260C3F131D45D5D9191052E" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">16.3</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5452541e2376-wk-Fact-87070399167877E900FB5D5D91B81B2F" name="us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">79.7</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has a policy of using either authorized and unissued shares or treasury shares, including shares acquired by purchase in the open market, to satisfy equity award exercises.</span></div></ix:continuation><div><a id="s248C37E43EBB53C9BA1231460BC7A1D8"></a></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">18.&#160;&#160;&#160;&#160;<ix:nonNumeric contextRef="FD2020Q4YTD" name="mtn:RetirementAndProfitSharingTextBlock" id="TextSelection-96B05122A54538D48C545D5D91E48EDE-0-wk-Fact-3F50840CF6F2F3D4A09D5D5D90CE7B31" continuedAt="TextSelection-96B05122A54538D48C545D5D91E48EDE-1" escape="true">Retirement and Profit Sharing Plans</ix:nonNumeric></span></div><ix:continuation id="TextSelection-96B05122A54538D48C545D5D91E48EDE-1"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company maintains a defined contribution retirement plan (the &#8220;Retirement Plan&#8221;), qualified under Section&#160;401(k) of the Internal Revenue Code, for its U.S. employees. Under this Retirement Plan, U.S. employees are eligible to make before-tax contributions on the first day of the calendar month following the later of: (i)&#160;their employment commencement date or (ii)&#160;the date they turn </span><span style="font-family:inherit;font-size:10pt;">21</span><span style="font-family:inherit;font-size:10pt;">. Participants may contribute&#160;up to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450905e684-wk-Fact-D81BEB8C7B92CD5074BF5D5D90D2B321" name="mtn:DefinedContributionPlanEmployeeContributionPercentage" contextRef="FD2020Q4YTD" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">100</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of their qualifying annual compensation up to the annual maximum specified by the Internal Revenue Code. When the Company participates in 401(k) contribution matching, it matches an amount equal to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450905e688-wk-Fact-FAE27A827991A19C80DB5D5D90CB4A7B" name="us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent" contextRef="FD2020Q4YTD" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">50</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> of each participant&#8217;s contribution up to </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450905e692-wk-Fact-B2954DA1C3E9C1D54ECA5D5D90CAA4AD" name="mtn:DefinedContributionPlanEmployerContributionPercentage" contextRef="FD2020Q4YTD" unitRef="number" decimals="2" scale="-2" format="ixt:numdotdecimal">6</ix:nonFraction>%</span></span><span style="font-family:inherit;font-size:10pt;"> of a participant&#8217;s bi-weekly&#160;qualifying compensation starting the pay period containing the first day of the month after obtaining the later of: (i)&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonNumeric id="d5450905e696-wk-Fact-56A24A561E19FD301E6E5D5D90D414C1" name="mtn:DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths" contextRef="FD2020Q4YTD" format="ixt-sec:durmonth">12</ix:nonNumeric></span></span><span style="font-family:inherit;font-size:10pt;"> months of employment with at least </span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450905e701-wk-Fact-B588EF0BC2E1BCFECC2F5D5D90D65A5E" name="mtn:DefinedContributionPlanIndividualRequisiteServicePeriodInHours" contextRef="FD2020Q4YTD" unitRef="hour" decimals="INF" scale="0" format="ixt:numdotdecimal">1,000</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> service hours from the commencement date or (ii) if </span><span style="font-family:inherit;font-size:10pt;">1,000 hours</span><span style="font-family:inherit;font-size:10pt;"> within the first </span><span style="font-family:inherit;font-size:10pt;">12 months</span><span style="font-family:inherit;font-size:10pt;"> was not completed, then after the employee completed a cumulative&#160;</span><span style="font-family:inherit;font-size:10pt;"><span><ix:nonFraction id="d5450905e713-wk-Fact-5AA023FCC6CE3D1A6AFC5D5D91BD8D31" name="mtn:DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours" contextRef="FD2020Q4YTD" unitRef="hour" decimals="INF" scale="0" format="ixt:numdotdecimal">1,500</ix:nonFraction></span></span><span style="font-family:inherit;font-size:10pt;"> service hours. On April 1, 2020, the Company announced a temporary six month suspension of its 401(k) contribution matching as a result of the impacts of the COVID-19 pandemic and resulting resort closures. Additionally, the Company&#8217;s matching contribution is entirely discretionary and may be reduced or eliminated at any time. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Retirement Plan expense recognized by the Company for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450905e732-wk-Fact-C77857B652899A7F2AF95D5D90CA5EF3" name="us-gaap:DefinedContributionPlanCostRecognized" contextRef="FD2020Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">5.8</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450905e736-wk-Fact-072447A0D70DE90FB8965D5D90CD8690" name="us-gaap:DefinedContributionPlanCostRecognized" contextRef="FD2019Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">7.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$<ix:nonFraction id="d5450905e741-wk-Fact-665B1F531DA1AB9E4AE05D5D90DE1149" name="us-gaap:DefinedContributionPlanCostRecognized" contextRef="FD2018Q4YTD" unitRef="usd" decimals="-5" scale="6" format="ixt:numdotdecimal">6.9</ix:nonFraction> million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div></ix:continuation><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s625211B792ED5259AA9D29759D2619D2"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 9.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">None.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sB31A05869E6452488EB59EDA506B9812"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 9A.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">CONTROLS AND PROCEDURES.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Disclosure Controls and Procedures</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Management of the Company, including the Chief Executive Officer (&#8220;CEO&#8221;) and Chief Financial Officer (&#8220;CFO&#8221;), have evaluated the effectiveness of the Company&#8217;s disclosure controls and procedures as of the end of the period covered by this Form 10-K. The term &#8220;disclosure controls and procedures&#8221; means controls and other procedures established by the Company that are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC&#8217;s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the Company&#8217;s management, including its CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Based upon their evaluation of the Company&#8217;s disclosure controls and procedures, the CEO and the CFO concluded that, as of the end of the period covered by this Form 10-K, the disclosure controls are effective to provide reasonable assurance that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to management, including the CEO and CFO, as appropriate, to allow timely decisions regarding required </span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">112</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">disclosure and are effective to provide reasonable assurance that such information is recorded, processed, summarized and reported within the time periods specified by the SEC&#8217;s rules and forms.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company, including its CEO and CFO, does not expect that the Company&#8217;s controls and procedures will prevent or detect all error and all fraud. A control system, no matter how well conceived or operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Management&#8217;s Annual Report on Internal Control Over Financial Reporting</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The report of management required by this item is contained in Item&#160;8. of this Form 10-K under the caption &#8220;Management&#8217;s Report on Internal Control over Financial Reporting.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Attestation Report of the Independent Registered Public Accounting Firm</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The attestation report required by this item is contained in Item&#160;8. of this Form 10-K under the caption &#8220;Report of Independent Registered Public Accounting Firm.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Changes in Internal Control Over Financial Reporting</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">There were no changes in the Company&#8217;s internal control over financial reporting during the quarter ended July&#160;31, 2020 that have materially affected, or are reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2020, the Company implemented certain internal controls in connection with its adoption of the new lease accounting standard. There were no other changes in the Company&#8217;s internal control over financial reporting that occurred during its most recent fiscal year that have materially affected, or are reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sA4E953A76AB85BB6BA13FEF827DEA052"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 9B.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">OTHER INFORMATION.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">None.</span></div><div><a id="sE291879C7AA35075B08A3C8A62E524E5"></a></div><div style="line-height:120%;padding-top:24px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PART III</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We expect to file with the SEC in October 2020 (and, in any event, not later than 120 days after the close of our last fiscal year), a definitive Proxy Statement, pursuant to SEC Regulation 14A in connection with our Annual Meeting of Shareholders to be held in December 2020.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sFED30FF2B2EF53E4B0884D4555DF1CF7"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 10.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information required by this item is incorporated herein by reference from the Company&#8217;s definitive Proxy Statement for the 2020 annual meeting of stockholders under the sections entitled &#8220;Information with Respect to Nominees,&#8221; &#8220;Management&#8221; and &#8220;Corporate Governance.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="sC687CA4E728F5933BCA2C491B43194D9"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 11.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">EXECUTIVE COMPENSATION.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information required by this item is incorporated herein by reference from the Company&#8217;s definitive Proxy Statement for the 2020 annual meeting of stockholders under the section entitled &#8220;Executive Compensation.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s1A763CCFF80D515FA62AB00F4EDA5D42"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 12.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information required by this item is incorporated herein by reference from the Company&#8217;s definitive Proxy Statement for the 2020 annual meeting of stockholders under the sections entitled &#8220;Security Ownership of Directors and Executive Officers,&#8221;  &#8220;Information as to Certain Stockholders&#8221; and &#8220;Executive Compensation - Securities Authorized for Issuance under Equity Compensation Plans.&#8221;</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">113</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s5786F7DA125B55B5B10EEC2D264E69B7"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:90px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 13.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information required by this item is incorporated herein by reference from the Company&#8217;s definitive Proxy Statement for the 2020 annual meeting of stockholders under the sections entitled &#8220;Determinations Regarding Independence&#8221; and &#8220;Transactions with Related Persons.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s0ADAA6AFDD3D5E94A5B2A6919E042D60"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 14.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PRINCIPAL ACCOUNTING FEES AND SERVICES.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The information required by this item is incorporated herein by reference from the Company&#8217;s definitive Proxy Statement for the 2020 annual meeting of stockholders under the section entitled &#8220;Proposal 2. Ratification of the Selection of Independent Registered Public Accounting Firm.&#8221;</span></div><div><a id="s533719D7E0D654ADBA61ABAC0EBCC547"></a></div><div style="line-height:120%;padding-top:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">PART IV</span></div><div style="line-height:120%;padding-top:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s343B08FC540856B886B9FE1FBCE8FE5A"></a></div><table cellpadding="0" cellspacing="0" style="-sec-extract:summary;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 15.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBITS, FINANCIAL STATEMENT SCHEDULES.</span></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><table cellpadding="0" cellspacing="0" style="padding-top:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;">a)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Index to Financial Statements.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:108px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><span style="font-family:inherit;font-size:10pt;">(1)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">See Item 8. &#8220;Financial Statements and Supplementary Data&#8221; for the index to the Financial Statements.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:108px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><span style="font-family:inherit;font-size:10pt;">(2)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Schedules have been omitted because they are not required or not applicable, or the required information is shown in the financial statements or notes to the financial statements.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:108px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><span style="font-family:inherit;font-size:10pt;">(3)</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">See the Index to Exhibits below.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following exhibits are either filed or furnished herewith (as applicable) or, if so indicated, incorporated by reference to the documents indicated in parentheses, which have previously been filed or furnished (as applicable) with the Securities and Exchange Commission.</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Posted</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Number</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Description</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465913045415/a13-13329_1ex2d1.htm"><span style="font-family:inherit;font-size:10pt;">Transaction Agreement, dated as of May 24, 2013, between VR CPC Holdings, Inc. and ASC Utah LLC, Talisker Land Holdings, LLC, Talisker Canyons Lands LLC, Talisker Canyons Leaseco LLC, American Skiing Company Resort Properties LLC, Talisker Canyons Propco LLC and Talisker Canyons Finance Co LLC. (Incorporated by reference to Exhibit 2.1 on Form 8-K of Vail Resorts, Inc. filed on May 30, 2013) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.2</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201114000028/exhibit212015-q1.htm"><span style="font-family:inherit;font-size:10pt;">Purchase and Sale Agreement, dated as of September 11, 2014, between VR CPC Holdings, Inc. and Greater Park City Company, Powdr Corp., Greater Properties, Inc., Park Properties, Inc. and Powdr Development Company. (Incorporated by reference to Exhibit 2.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2014) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.3</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201116000098/exhibit21-arrangementagree.htm"><span style="font-family:inherit;font-size:10pt;">Arrangement Agreement, dated as of August 5, 2016, between Vail Resorts, Inc., 1068877 B.C. Ltd. and Whistler Blackcomb Holdings Inc. (Incorporated by reference to Exhibit 2.1 on Form 8-K of Vail Resorts, Inc. filed on August 8, 2016) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.4</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201119000043/mergeragreement.htm"><span style="font-family:inherit;font-size:10pt;">Agreement and Plan of Merger, dated as of July 20, 2019, by and among Vail Holdings, Inc., VRAD Holdings, Inc. and Peak Resorts, Inc., and solely with respect to Section 9.14, Vail Resorts, Inc. (Incorporated by reference to Exhibit 2.1 on Form 8-K of Vail Resorts, Inc. filed on July 22, 2019) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000010/exhibit3.htm"><span style="font-family:inherit;font-size:10pt;">Amended and Restated Certificate of Incorporation of Vail Resorts, Inc., dated January 5, 2005. (Incorporated by reference to Exhibit 3.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended January 31, 2005)(File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.2</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465911068271/a11-31184_1ex3d1.htm"><span style="font-family:inherit;font-size:10pt;">Certificate of Amendment of Amended and Restated Certificate of Incorporation of Vail Resorts, Inc., dated December 7, 2011. (Incorporated by reference to Exhibit 3.1 on Form 8-K of Vail Resorts, Inc. filed on December 8, 2011) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.3</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465916150413/a16-20037_1ex3d1.htm"><span style="font-family:inherit;font-size:10pt;">Certificate of Designations of Special Voting Preferred Stock of Vail Resorts, Inc., dated October 17, 2016. (Incorporated by reference to Exhibit 3.1 on Form 8-K of Vail Resorts, Inc. filed on October 17, 2016) (File No. 001-09614).</span></a></div><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">114</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Posted</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Number</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Description</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3.4</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465911068271/a11-31184_1ex3d2.htm"><span style="font-family:inherit;font-size:10pt;">Amended and Restated Bylaws of Vail Resorts, Inc., dated December 7, 2011. (Incorporated by reference to Exhibit 3.2 on Form 8-K of Vail Resorts, Inc. filed on December 8, 2011) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">4.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201120000034/vail-indenture2020conf.htm"><span style="font-family:inherit;font-size:10pt;">Indenture, dated May 4, 2020, by and among Vail Resorts, Inc., the Guarantors named therein and U.S. Bank National Association, as Trustee (Incorporated by reference to Exhibit 4.1 of Form 8-K of Vail Resorts, Inc. filed on May 4, 2020) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.1</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201117000079/ex1012017-q4.htm"><span style="font-family:inherit;font-size:10pt;">Forest Service Unified Permit for Heavenly ski area, dated April 29, 2002 (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.2(a)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit992a.htm"><span style="font-family:inherit;font-size:10pt;">Forest Service Unified Permit for Keystone ski area, dated December 30, 1996. (Incorporated by reference to Exhibit 99.2(a) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.2(b)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit992b.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 2 to Forest Service Unified Permit for Keystone ski area. (Incorporated by reference to Exhibit 99.2(b) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.2(c)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit103c.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 3 to Forest Service Unified Permit for Keystone ski area. (Incorporated by reference to Exhibit 10.3 (c) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.2(d)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit103d.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 4 to Forest Service Unified Permit for Keystone ski area. (Incorporated by reference to Exhibit 10.3 (d) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.2(e)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit103e.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 5 to Forest Service Unified Permit for Keystone ski area. (Incorporated by reference to Exhibit 10.3 (e) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(a)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit993a.htm"><span style="font-family:inherit;font-size:10pt;">Forest Service Unified Permit for Breckenridge ski area, dated December 31, 1996. (Incorporated by reference to Exhibit 99.3(a) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(b)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit993b.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 1 to Forest Service Unified Permit for Breckenridge ski area. (Incorporated by reference to Exhibit 99.3(b) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(c)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit104c.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 2 to Forest Service Unified Permit for Breckenridge ski area. (Incorporated by reference to Exhibit 10.4 (c) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(d)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit104d.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 3 to Forest Service Unified Permit for Breckenridge ski area. (Incorporated by reference to Exhibit 10.4 (d) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(e)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit104e.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 4 to Forest Service Unified Permit for Breckenridge ski area. (Incorporated by reference to Exhibit 10.4 (e) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.3(f)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201106000008/exhibit104f.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 5 to Forest Service Unified Permit for Breckenridge ski area. (Incorporated by reference to Exhibit 10.4(f) on Form 10-Q of Vail Resorts, Inc. for the quarter ended January&#160;31, 2006) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(a)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit994a.htm"><span style="font-family:inherit;font-size:10pt;">Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 99.4(a) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(b)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit994b.htm"><span style="font-family:inherit;font-size:10pt;">Exhibits to Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 99.4(b) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(c)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit105c.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 1 to Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 10.5(c) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(d)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit105d.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 2 to Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 10.5(d) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(e)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit105e.htm"><span style="font-family:inherit;font-size:10pt;">Amendment to Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 10.5(e) on Form 10-K of Vail Resorts, Inc. for the year ended July&#160;31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.4(f)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201108000026/exhibit10_4f.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 3 to Forest Service Unified Permit for Beaver Creek ski area. (Incorporated by reference to Exhibit 10.4(f) on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2008) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5(a)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit995a.htm"><span style="font-family:inherit;font-size:10pt;">Forest Service Unified Permit for Vail ski area, dated November 23, 1993. (Incorporated by reference to Exhibit 99.5(a) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5(b)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit995b.htm"><span style="font-family:inherit;font-size:10pt;">Exhibits to Forest Service Unified Permit for Vail ski area. (Incorporated by reference to Exhibit 99.5(b) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5(c)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201102000023/exhibit995c.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 2 to Forest Service Unified Permit for Vail ski area. (Incorporated by reference to Exhibit 99.5(c) on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2002) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5(d)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit106d.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 3 to Forest Service Unified Permit for Vail ski area. (Incorporated by reference to Exhibit 10.6 (d) on Form 10-K of Vail Resorts, Inc. for the year ended July&#160;31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.5(e)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201105000035/exhibit106e.htm"><span style="font-family:inherit;font-size:10pt;">Amendment No. 4 to Forest Service Unified Permit for Vail ski area. (Incorporated by reference to Exhibit 10.6 (e) on Form 10-K of Vail Resorts, Inc. for the year ended July&#160;31, 2005) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.6*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201109000036/exhibit99_1.htm"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc. Amended and Restated 2002 Long Term Incentive and Share Award Plan. (Incorporated by reference to Exhibit 99.1 on Form 8-K of Vail Resorts, Inc. filed on December 10,&#160;2009) (File No. 001-09614).</span></a></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">115</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Posted</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Number</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Description</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.8*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465915083185/a15-24404_2ex10d2.htm"><span style="font-family:inherit;font-size:10pt;">Form of Restricted Share Unit Agreement. (Incorporated by reference to Exhibit 10.2 on Form 8-K&#160;of Vail Resorts, Inc. filed on December 7, 2015) (File Number 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.9*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465915083185/a15-24404_2ex10d3.htm"><span style="font-family:inherit;font-size:10pt;">Form of Share Appreciation Rights Agreement. (Incorporated by reference to Exhibit 10.3 on&#160;Form 8-K&#160;of Vail Resorts, Inc. filed on December 7, 2015) (File Number 001-09614)</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.10*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201109000030/exhibit10_22.htm"><span style="font-family:inherit;font-size:10pt;">Vail Resorts Deferred Compensation Plan, effective as of January 1, 2005. (Incorporated by reference to Exhibit 10.22 on Form 10-K of Vail Resorts, Inc. for the year ended July 31, 2009) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.11(a)*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201108000036/exhibit10_1.htm"><span style="font-family:inherit;font-size:10pt;">Executive Employment Agreement made and entered into October 15, 2008 by and between Vail Resorts, Inc. and Robert A. Katz. (Incorporated by reference to Exhibit 10.1 of the report on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2008) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.11(b)*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201111000023/exhibit10_1.htm"><span style="font-family:inherit;font-size:10pt;">First Amendment to Executive Employment Agreement, dated September 30, 2011, by and between Vail Resorts, Inc. and Robert A. Katz (Incorporated by reference to Exhibit 10.1 on Form 8-K of Vail Resorts, Inc. filed September 30, 2011) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.11(c)*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201113000023/exhibit101.htm"><span style="font-family:inherit;font-size:10pt;">Second Amendment to Executive Employment Agreement, dated April 11, 2013, by and between Vail Resorts, Inc. and Robert A. Katz. (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended April 30, 2013) (File No. 001-09614).</span></a></div><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.12*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201108000036/exhibit10_8.htm"><span style="font-family:inherit;font-size:10pt;">Form of Indemnification Agreement. (Incorporated by reference to Exhibit 10.8 of the report on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2008) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.13</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465913045415/a13-13329_1ex10d1.htm"><span style="font-family:inherit;font-size:10pt;">Master Agreement of Lease, dated May 29, 2013, between VR CPC Holdings, Inc. and Talisker Canyons Leaseco LLC. (Incorporated by reference to Exhibit 10.1 on Form 8-K of Vail Resorts, Inc. filed on May 30, 2013) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.14</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-top:2px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465913045415/a13-13329_1ex10d2.htm"><span style="font-family:inherit;font-size:10pt;">Guaranty of Vail Resorts, Inc., dated May 29, 2013, in connection with the Master Agreement of Lease between VR CPC Holdings, Inc. and Talisker Canyons Leaseco LLC. (Incorporated by reference to Exhibit 10.2 on Form 8-K of Vail Resorts, Inc. filed on May 30, 2013) (File No. 001-09614).</span></a></div><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.15*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201118000134/exhibit102mipgrade33final_.htm"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc. Management Incentive Plan (Incorporated by reference to Exhibit 10.2 on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2018) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.16*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000110465915083185/a15-24404_2ex10d1.htm"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc. 2015 Omnibus Incentive Plan (Incorporated by reference to Exhibit 10.1 on&#160;Form 8-K&#160;of Vail Resorts, Inc. filed on December 7, 2015) (File Number 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.17*</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit1017.htm"><span style="font-family:inherit;font-size:10pt;">Form of Restricted Share Unit Agreement (effective September 23, 2020) (File Number 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.18*</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit1018.htm"><span style="font-family:inherit;font-size:10pt;">Form of Share Appreciation Rights Agreement (effective September 23, 2020) (File Number 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.19(a)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201118000134/exhibit1018thamendedcredit.htm"><span style="font-family:inherit;font-size:10pt;">Eighth Amended and Restated Credit Agreement, Annex A to that certain Amendment Agreement, dated as of August 15, 2018, among Vail Holdings, Inc., as borrower, Bank of America, N.A., as administrative agent, U.S. Bank National Association and Wells Fargo, National Association, as co-syndication Agents, and the Lenders party thereto (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2018) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.19(b)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201119000035/exhibit1011stamendmentto8t.htm"><span style="font-family:inherit;font-size:10pt;">First Amendment to the Eighth Amended and Restated Credit Agreement, dated as of April 15, 2019, among Vail Holdings, Inc., as borrower, and Bank of America, N.A., as administrative agent, on its own behalf and on behalf of the Lenders party thereto (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended April 30, 2019) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.19(c)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201119000144/vail-secondamendmentto.htm"><span style="font-family:inherit;font-size:10pt;">Second Amendment to the Eighth Amended and Restated Credit Agreement, dated as of September 23, 2019, among Vail Holdings, Inc., as borrower, and Bank of America, N.A., as administrative agent, on its own behalf and on behalf of the Lenders party thereto. (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 31, 2019) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.19(d)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201120000041/exhibit101-thirdvhiame.htm"><span style="font-family:inherit;font-size:10pt;">Third Amendment to the Eighth Amended and Restated Credit Agreement, dated as of April 28, 2020, among Vail Holdings, Inc., as borrower, and Bank of America, N.A., as administrative agent, on its own behalf and on behalf of the Lenders party thereto (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended April 30, 2020) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.20(a)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201116000182/exhibit103whistlercreditag.htm"><span style="font-family:inherit;font-size:10pt;">Amended and Restated Credit Agreement and the amendments thereto, dated as of November 12, 2013, among Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, as borrowers, the Guarantors Party thereto, the Financial Institutions named therein, The Toronto-Dominion Bank, as administrative agent, TD Securities, as lead arranger and sole bookrunner, and Royal Bank of Canada, Bank of Montreal, Wells Fargo Bank, N.A., Canadian Branch, and Bank of America, N.A., Canadian Branch, as co-documentation agents (Incorporated by reference to Exhibit 10.3 on Form 10-Q of Vail Resorts, Inc. for the quarter ended October 30, 2016) (File No. 001-09614).</span></a></div><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.20(b)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201117000014/exhibit1012017-q2.htm"><span style="font-family:inherit;font-size:10pt;">Third Amending Agreement, dated as of February 10, 2017, among Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, as borrowers, the Guarantors Party thereto, and The Toronto-Dominion Bank, as administrative agent, on its own behalf and on behalf of the Lenders (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended January 31, 2017) (File No. 001-09614).</span></a></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">116</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Posted</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Number</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Description</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.20(c)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201119000012/exhibit1014thamendingagree.htm"><span style="font-family:inherit;font-size:10pt;">Fourth Amending Agreement, dated as of November 30, 2018, among Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, as borrowers, the Guarantors Party thereto, and The Toronto-Dominion Bank, as administrative agent, on its own behalf and on behalf of the lenders (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended January 31, 2019) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.20(d)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201120000016/exhibit1012020-q2xwbrevolv.htm"><span style="font-family:inherit;font-size:10pt;">Fifth Amending Agreement, dated as of November 21, 2019, among Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, as borrowers, the Guarantors Party thereto, and The Toronto-Dominion Bank, as administrative agent, on its own behalf and on behalf of the Lenders (Incorporated by reference to Exhibit 10.1 on Form 10-Q of Vail Resorts, Inc. for the quarter ended January 31, 2019) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.21</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201117000006/exhibit101whistlermda.htm"><span style="font-family:inherit;font-size:10pt;">Whistler Mountain Master Development Agreement, dated as of February 23, 2017, between Her Majesty the Queen in Right of the Province of British Columbia and Whistler Mountain Resort Limited Partnership (Incorporated by reference to Exhibit 10.1 on Form 8-K of Vail Resorts, Inc. filed on February 27, 2017) (File No. 001-09614).</span></a></div><div style="padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10.22</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="http://www.sec.gov/Archives/edgar/data/812011/000081201117000006/exhibit102blackcombmda.htm"><span style="font-family:inherit;font-size:10pt;">Blackcomb Mountain Master Development Agreement, dated as of February 23, 2017, between Her Majesty the Queen in Right of the Province of British Columbia and Blackcomb Skiing Enterprises Limited Partnership (Incorporated by reference to Exhibit 10.2 on Form 8-K of Vail Resorts, Inc. filed on February 27, 2017) (File No. 001-09614).</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">21</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit212020-q4.htm"><span style="font-family:inherit;font-size:10pt;">Subsidiaries of Vail Resorts, Inc.</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">23</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit232020-q4.htm"><span style="font-family:inherit;font-size:10pt;">Consent of Independent Registered Public Accounting Firm.</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">24</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Power of Attorney. Included on signature pages hereto.</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31.1</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit3112020-q4.htm"><span style="font-family:inherit;font-size:10pt;">Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">31.2</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit3122020-q4.htm"><span style="font-family:inherit;font-size:10pt;">Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></a></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">32</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><a style="text-decoration:underline;color:#0000FF;-sec-extract:exhibit;" href="exhibit322020-q4.htm"><span style="font-family:inherit;font-size:10pt;">Certifications of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></a></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.INS</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Instance Document - the instance document does not appear in the interactive data file as its XBRL tags are embedded within the inline XBRL document.</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.SCH</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Schema Document.</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.CAL</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Calculation Linkbase Document.</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.DEF</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Definition Linkbase Document.</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.LAB</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Label Linkbase Document.</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">101.PRE</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Presentation Linkbase Document.</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">104</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The cover page from this Annual Report on Form 10-K, formatted in inline XBRL.</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">*Management contracts and compensatory plans and arrangements.</span></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><a id="s500A35B820E95B3DBFB0FD8955711EF3"></a></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 16.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">FORM 10-K SUMMARY.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">None.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">117</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><a id="sB6FB146CEC2B54038EC093061F508EEB"></a></div><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of Section&#160;13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:87.3046875%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:43%;"></td><td style="width:5%;"></td><td style="width:52%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc.</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">By:</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Michael Z. Barkin</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Michael Z. Barkin</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Executive Vice President and </span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Chief Financial Officer</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Principal Financial Officer)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc.</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">By:</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Ryan H. Siurek</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ryan H. Siurek</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Senior Vice President, Controller and </span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Chief Accounting Officer</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Principal Accounting Officer)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">POWER OF ATTORNEY</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Each person whose signature appears below hereby constitutes and appoints Michael Z. Barkin or Ryan H. Siurek his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments or supplements to this Form 10-K and to file the same with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing necessary or appropriate to be done with this Form 10-K and any amendments or supplements hereto, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on September 24, 2020.</span></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">118</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><hr style="page-break-after:always"></hr><div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div><div><br/></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:94.140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:46%;"></td><td style="width:54%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Robert A. Katz</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Chief Executive Officer and Chairman of the Board</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Robert A. Katz</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Principal Executive Officer)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Michael Z. Barkin</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Executive Vice President and Chief Financial Officer</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Michael Z. Barkin</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Principal Financial Officer)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Ryan H. Siurek</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Senior Vice President, Controller and Chief Accounting Officer</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ryan H. Siurek</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Principal Accounting Officer)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Susan L. Decker</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Susan L. Decker</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Nadia Rawlinson</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nadia Rawlinson</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ John T. Redmond</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">John T. Redmond</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Michele Romanow</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Michele Romanow</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Hilary A. Schneider</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Hilary A. Schneider</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ D. Bruce Sewell</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">D. Bruce Sewell</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ John F. Sorte</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">John F. Sorte</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">/s/ Peter A. Vaughn</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Peter A. Vaughn</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Director</span></div></td></tr></table></div></div><div><br/></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">119</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></div>	</div></body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>2
<FILENAME>exhibit1017.htm
<DESCRIPTION>RSU AWARD AGREEMENT
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s675cb55005474f6aa2202671aef14320"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.17</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">VAIL RESORTS, INC. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RESTRICTED SHARE UNIT AGREEMENT</font></div><div style="line-height:232%;padding-top:5px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS AGREEMENT is between Vail Resorts, Inc., a Delaware corporation (the &#8220;Company&#8221;), and the employee who receives this Agreement in connection with an award of Restricted Share Units under the Company&#8217;s 2015 Omnibus Incentive Plan (the &#8220;Plan&#8221;).</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and for other good and valuable consideration, the parties hereto agree as follows.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">1.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Award of Restricted Share Units</font><font style="font-family:inherit;font-size:10pt;">. Pursuant to the provisions of the Plan, the terms of which are incorporated herein by reference, you may, from time to time, be awarded Restricted Share Units (the &#8220;Award&#8221;), subject to the terms and conditions of the Plan and those herein set forth. An Award is granted as of the date set forth in the notification to you of such Award (the &#8220;Date of Grant&#8221;). Capitalized terms used herein and not defined shall have the meanings set forth in the Plan. In the event of any conflict between this Agreement and the Plan, the Plan shall control.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">2.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Terms and Conditions</font><font style="font-family:inherit;font-size:10pt;">. It is understood and agreed that the Award of Restricted Share Units is subject to the following terms and conditions:</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">3.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Vesting of Award</font><font style="font-family:inherit;font-size:10pt;">. Subject to Sections 4 and 5 below and the other terms and conditions of this Agreement, the Award shall become vested as provided in the notification to you of such Award.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">4.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Change in Control</font><font style="font-family:inherit;font-size:10pt;">. Notwithstanding any provision of this Agreement to the contrary, in the event that the successor corporation in a Change in Control does not assume or substitute for the Award (or portion thereof), the Committee will (i)&#160;cause any or all of such Award (or portion thereof) to terminate in exchange for cash, rights or other property having a value (as determined by the Committee acting in good faith) equal to the formula or fixed price per share paid to holders of Shares pursuant to such Change in Control, with respect to each Share underlying the Restricted Share Units, or (ii)&#160;cause the Participant to fully vest in the Award and all restrictions on the Award to lapse, and, with respect to any performance criteria, all performance goals will be deemed achieved at the greater of actual performance or 100% of target levels and all other terms and conditions shall be deemed met,  in each case, to the extent the Award otherwise remains outstanding and has not otherwise vested or been forfeited as of any such Change in Control.</font></div><div style="line-height:120%;text-align:justify;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notwithstanding anything herein to the contrary, in the event that the Award is assumed or substituted or otherwise continued by a successor in a Change in Control, the following terms shall apply. In the event of your termination of continuous service without Cause by the successor or its affiliates in a Change in Control during the 12-month period following a Change in Control, the Award shall fully vest and all restrictions on the Award shall lapse, and, with respect to any performance criteria, all performance goals will be deemed achieved at the greater of actual performance or 100% of target levels and all other terms and conditions shall be deemed met, in each case, to the extent the Award otherwise remains outstanding and has not otherwise vested or been forfeited. &#8220;Cause&#8221; shall have the equivalent meaning or the same meaning as &#8220;cause&#8221; or &#8220;for cause&#8221; set forth in any employment, consulting, or other agreement for the performance of services between you and the Company or an Affiliate or, in the absence of any such agreement or any such definition in such agreement, such term shall mean (i) the failure by you to perform, in a reasonable manner, your duties consistent with your duties immediately prior to a Change in Control (provided, that a material reduction in your compensation as in effect immediately prior to the Change in Control shall excuse any failure to perform such duties, unless otherwise agreed by you), (ii)  any violation or breach by you of your employment, consulting or other similar agreement with the Company or an Affiliate, if any, (iii) any violation or breach by you of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or an Affiliate, (iv) any act by you of dishonesty or bad faith with respect to the Company or an Affiliate, (v) use of alcohol, drugs or other similar substances in a manner that adversely affects your work performance, or (vi) the commission by you of any act, misdemeanor, or crime reflecting unfavorably upon you or the Company or any Affiliate. The good faith determination by the Company of whether your service was terminated by the Company for &#8220;Cause&#8221; shall be final and binding for all purposes hereunder. For the avoidance of doubt, the foregoing shall apply to the extent and in a manner consistent with the requirements of Section 409A of the Internal Revenue Code.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The obligations of the Company hereunder shall be binding upon any successor of the Company.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">5.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Termination of Service; Forfeiture of Unvested Shares; Death</font><font style="font-family:inherit;font-size:10pt;">. In the event of a termination of your employment with the Company and its Subsidiaries prior to the date that the Award otherwise becomes vested, the unvested portion of the Award shall immediately be forfeited by you and become the property of the Company. Notwithstanding the foregoing, if your employment with the Company and/or its Subsidiaries terminates as a result of your death, then the Award, if not already vested under Section 3, will vest in full as of the date of death.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">6.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Delivery</font><font style="font-family:inherit;font-size:10pt;">. Promptly following the vesting of Restricted Share Units pursuant to the terms and conditions hereof and the satisfaction of any withholding tax liability pursuant to Section 11 hereof, but no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the certificates evidencing the Shares to which the vested Restricted Share Units relate shall be delivered to you or other evidence of the Shares shall be provided to you. In the event of your death and the vesting of this Award pursuant to Section 5 above, the Shares shall be delivered to the executor or administrator of your estate or to the person or persons to whom your rights under this Agreement shall pass by will or by the laws of intestate succession.</font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">7.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Rights of a Stockholder</font><font style="font-family:inherit;font-size:10pt;">. You shall have no right to transfer, pledge, hypothecate or otherwise encumber the Restricted Share Units. You shall not have the rights of a stockholder with respect to the Restricted Share Units, including the right to receive dividends.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">8.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">No Right to Continued Employment</font><font style="font-family:inherit;font-size:10pt;">. The Award shall not confer upon you any right with respect to continuance of employment by the Company nor shall this Award interfere with the right of the Company to terminate your employment at any time.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">9.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Transfer of Shares</font><font style="font-family:inherit;font-size:10pt;">. The Shares delivered hereunder, or any interest therein, may be sold, assigned, pledged, hypothecated, encumbered, or transferred or disposed of in any other manner, in whole or in part, only in compliance with the terms, conditions and restrictions as set forth in the governing instruments of the Company, applicable federal and state securities laws or any other applicable laws or regulations and the terms and conditions hereof. No Shares shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">10.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Expenses of Issuance of Shares</font><font style="font-family:inherit;font-size:10pt;">. The issuance of stock certificates hereunder shall be without charge to you. The Company shall pay any issuance, stamp or documentary taxes (other than transfer taxes) or charges imposed by any governmental body, agency or official (other than income taxes) by reason of the issuance of Shares.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">11.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Withholding</font><font style="font-family:inherit;font-size:10pt;">. No later than the date of delivery of Shares pursuant to Section 6 hereunder, you shall pay to the Company or make arrangements satisfactory to the Committee regarding payment of any federal, state or local taxes of any kind required by law to be withheld at such time with respect to the Award and the Company shall, to the extent permitted or required by law, have the right to deduct from any payment of any kind otherwise due to you, federal, state and local taxes of any kind required by law to be withheld at such time. You may elect to have the Company withhold Shares to pay any applicable withholding taxes resulting from the Award, in accordance with any rules or regulations of the Committee then in effect. Notwithstanding the foregoing, the maximum number of Shares that may be withheld from the Award to satisfy any federal, state, or local tax withholding requirements upon the vesting of, or payment of Shares pursuant to, the Award, as applicable, may not exceed such number of Shares having a Fair Market Value equal to the minimum statutory amount required by the Company to be withheld and paid to any such federal, state, or local taxing authority with respect to such vesting or payment of Shares, or such greater amount as may be permitted under applicable accounting standards.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">12.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">References</font><font style="font-family:inherit;font-size:10pt;">. References herein to your rights and obligations shall apply, where appropriate, to your legal representative or estate without regard to whether specific reference to such legal representative or estate is contained in a particular provision of this Agreement.</font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">13.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Notices</font><font style="font-family:inherit;font-size:10pt;">. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given when delivered personally or by courier, or sent by certified or registered mail, postage prepaid, return receipt requested, duly addressed to the party concerned at the address indicated below or to such changed address as such party may subsequently by similar process give notice of, or by email or other electronic means using a system maintained by the Company when transmitted without a notice of failed delivery:</font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:56px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If to the Company:&#160;&#160;&#160;&#160;Vail Resorts, Inc.</font></div><div style="line-height:120%;text-align:justify;padding-left:152px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">390 Interlocken Crescent</font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:152px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Suite 1000</font></div><div style="line-height:120%;text-align:justify;padding-left:152px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Broomfield, Colorado 80021 Attention: General Counsel</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:152px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:8px;"><font style="font-family:inherit;font-size:10pt;">If to you:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At your most recent address shown on the Company&#8217;s corporate records, or at any other address which you may specify in a notice delivered to the Company in the manner set forth herein.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">14.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Adjustments</font><font style="font-family:inherit;font-size:10pt;">. In  the event that the Committee shall determine that  any dividend in Shares, recapitalization, Share split, reverse split, reorganization, merger, consolidation, spin- off, combination, repurchase, share exchange, or other similar corporate transaction or event affects the Shares such that an adjustment is appropriate in order to prevent dilution or enlargement of your rights under this Award, then the Committee shall make such equitable changes or adjustments as it deems appropriate and adjust, in such manner as it deems equitable, including, without limitation, the number and kind of Shares, other securities or other consideration issued or issuable with respect to this Award. In the event that the Company shall declare an extraordinary cash dividend, then the Committee shall in its discretion either (i) pay you cash when and as your Restricted Share Units vest in an amount equal to the number of Restricted Share Units vested multiplied by the per share amount of such extraordinary cash dividend; or (ii) make such other adjustment as the Committee determines would provide you with a substantially similar benefit.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">15.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Successors and Assigns</font><font style="font-family:inherit;font-size:10pt;">. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon you and your beneficiaries, executors, administrators and the person(s) to whom the Restricted Share Units may be transferred by will or the laws of descent or distribution.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">16.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Severability</font><font style="font-family:inherit;font-size:10pt;">. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.</font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">17.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Section 409A</font><font style="font-family:inherit;font-size:10pt;">. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you on account of non-compliance with Section 409A </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;&#32;of the Code</font><font style="font-family:inherit;font-size:10pt;color:#010000;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">18.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:10pt;">. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to principles of conflict of laws.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">19.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Binding Effect</font><font style="font-family:inherit;font-size:10pt;">. By accepting the Award, you agree to be bound by this Agreement.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:40px;">20.</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Confidentiality</font><font style="font-family:inherit;font-size:10pt;">.  As part of your responsibilities with the Company, you may   have access to or become familiar with information concerning the business of the Company that is of a confidential nature. By accepting this Award, you agree that you will not discuss or disclose any confidential information to any outside individual or institution or to use it for your own benefit except on the direct written authorization of a member of the Executive Committee. Please refer to the Confidential Information section in the Employee Guide for additional information, including a description of the information considered confidential. The Company will pursue legal remedies for unauthorized use or disclosure of sensitive, confidential information.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>3
<FILENAME>exhibit1018.htm
<DESCRIPTION>SAR AWARD AGREEMENT
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s03c9a12373ff4150bc64d03311194e97"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.18</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">VAIL RESORTS, INC.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SHARE APPRECIATION RIGHTS AGREEMENT</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS AGREEMENT is between Vail Resorts, Inc., a Delaware corporation (the &#8220;Company&#8221;), and the employee who receives this Agreement in connection with an award of Share Appreciation Rights under the Company&#8217;s 2015 Omnibus Incentive Plan (the &#8220;Plan&#8221;), the terms of which are incorporated herein by reference. Capitalized terms used and not defined herein have the meanings set forth in the Plan.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:104px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share Appreciation Rights Terms.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:94px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:41px;">(a)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Grant</font><font style="font-family:inherit;font-size:10pt;">. You may, from time to time, be awarded Share Appreciation Rights, subject to the terms and conditions of the Plan and those herein set forth. An award of Share  Appreciation Rights is granted as of the date set forth in the notification to you of such award (the &#8220;Date of Grant&#8221;) with respect to the number of Shares indicated in your award notification (the &#8220;SAR Shares&#8221;), at an exercise price per Share Appreciation Right as provided in your award notification (the &#8220;Exercise Price&#8221;). Your Share Appreciation Rights will expire at the close of business on the tenth anniversary of the Date of Grant (the &#8220;Expiration Date&#8221;), subject to earlier expiration in connection with the termination of your employment as provided below.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:justify;text-indent:96px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:41px;">(b)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Exercisability/Vesting</font><font style="font-family:inherit;font-size:10pt;">. Your Share Appreciation Rights will be exercisable only to the extent they have vested. Your Share Appreciation Rights will become vested as provided in your award notification, if and only if you have been continuously employed by the Company and/or its Subsidiaries from the date of this Agreement through such dates. Upon the termination of your employment for any reason, by you or by the Company and/or its Subsidiaries, with or without cause, all of your unvested Share Appreciation Rights shall expire and be of no further force or effect. Any such termination shall not affect your vested Share Appreciation Rights, which shall remain exercisable pursuant to paragraph 1(d) below.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:justify;text-indent:96px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:41px;">(c)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Change in Control</font><font style="font-family:inherit;font-size:10pt;">. Notwithstanding any provision of this Agreement to the contrary, in the event that the successor corporation in a Change in Control does not assume or substitute for the Share Appreciation Rights (&#8220;Award&#8221; or &#8220;SAR&#8221;) (or portion thereof), the Committee will (i)&#160;cause any or all of such Award (or portion thereof) to terminate in exchange for cash, rights or other property having a value (as determined by the Committee acting in good faith) equal to the product of the number of SAR Shares multiplied by the amount, if any, by which the formula or fixed price per share paid to holders of Shares pursuant to such transaction exceeds the Exercise Price applicable to the Award, or (ii)&#160;cause the Participant to fully vest in and have the right to exercise all of his or her outstanding Share Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, in each case, to the extent the Award otherwise remains outstanding and has not otherwise been exercised or forfeited as of any such Change in Control. For the avoidance of doubt, if the formula or fixed price per share paid to holders of Shares pursuant to such transaction is equal to or less than the SAR Price applicable to the SAR, then the SAR may be cancelled without payment therefore.</font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notwithstanding anything herein to the contrary, in the event that the Award is assumed or substituted or otherwise continued by a successor in a Change in Control, the following terms shall apply. In the event of your termination of continuous service without Cause by the successor or its affiliates in a Change in Control during the 12-month period following a Change in Control, the outstanding Stock Appreciation Rights shall become immediately exercisable with respect to 100% of the shares subject thereto as of the date of your termination of service. &#8220;Cause&#8221; shall have the equivalent meaning or the same meaning as &#8220;cause&#8221; or &#8220;for cause&#8221; set forth in any employment, consulting, or other agreement for the performance of services between you and the Company or an Affiliate or, in the absence of any such agreement or any such definition in such agreement, such term shall mean (i) the failure by you to perform, in a reasonable manner, your duties consistent with your duties immediately prior to a Change in Control (provided, that a material reduction in your compensation as in effect immediately prior to the Change in Control shall excuse any failure to perform such duties, unless otherwise agreed by you), (ii)  any violation or breach by you of your employment, consulting or other similar agreement with the Company or an Affiliate, if any, (iii) any violation or breach by you of any non-competition, non-solicitation, non-disclosure and/or other similar agreement with the Company or an Affiliate, (iv) any act by you of dishonesty or bad faith with respect to the Company or an Affiliate, (v) use of alcohol, drugs or other similar substances in a manner that adversely affects your work performance, or (vi) the commission by you of any act, misdemeanor, or crime reflecting unfavorably upon you or the Company or any Affiliate. The good faith determination by the Company of whether your service was terminated by the Company for &#8220;Cause&#8221; shall be final and binding for all purposes hereunder. For the avoidance of doubt, the foregoing shall apply to the extent and in a manner consistent with the requirements of Section 409A of the Internal Revenue Code. </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:0px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The obligations of the Company hereunder shall be binding upon any successor of the Company.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:justify;text-indent:96px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:41px;">(d)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Termination of Share Appreciation Rights</font><font style="font-family:inherit;font-size:10pt;">. In no event shall any part of your Share Appreciation Rights be exercisable after the Expiration Date set forth in paragraph 1(a). If your employment with the Company and/or its Subsidiaries terminates for any reason, that portion of your Share Appreciation Rights that is not vested and exercisable on the date of termination of your employment shall expire and be forfeited. The portion of your Share Appreciation Rights that is vested and exercisable on the date of such termination shall, to the extent not theretofore exercised, expire on the 90th day after such date of termination.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:8px;text-align:justify;text-indent:94px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:41px;">(e)</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Exercisability/Vesting in Event of Death</font><font style="font-family:inherit;font-size:10pt;">. Notwithstanding any provision of this Agreement to the contrary, if your employment with the Company and/or its Subsidiaries terminates as a result of your death, then your Share Appreciation Rights, if not already vested under Sections 1(b) or 1(c) above, will vest in full as of the date of death and may be exercised by the persons described in Section 4 below, but only within the period ending on the earlier of (1) the date twelve (12) months following the date of death or (2) the Expiration Date set forth in paragraph 1(a). If, after death, the Share Appreciation Rights are not exercised within the time specified herein, the Share Appreciation Rights shall expire and be forfeited.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Procedure for Share Appreciation Rights Exercise.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">You may, at any time or from time to time, to the extent permitted hereby, exercise all or any portion of your vested portion of your Share Appreciation Rights by delivering, to the attention of the Company&#8217;s General Counsel at the address set forth in paragraph 9 below, written notice to the Company of the number of Share Appreciation Rights to be exercised. The Company may delay effectiveness of any exercise of your Share Appreciation Rights for such period of time as may be necessary to comply with any legal or contractual provisions to which it may be subject relating to the issuance of its securities, it being understood that such exercise shall be effective immediately upon completion of such compliance notwithstanding the occurrence of the Expiration Date.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Payment for Share Appreciation Rights.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Upon your exercise of the Share Appreciation Rights, the Company shall pay you in SAR Shares an amount equal to the quotient of (i) the product of (x) the positive difference (if any) between the Fair Market Value of a SAR Share on the exercise date and the Exercise Price, multiplied by (y) the number of Share Appreciation Rights being exercised, divided by (ii) the Fair Market Value of a SAR Share on the exercise date, rounded down to the nearest whole share. Any fractional SAR Shares shall be forfeited.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share Appreciation Rights Not Transferable.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Your Share Appreciation Rights are personal to you and are not transferable by you, other than by will or by the laws of descent and distribution. During your lifetime, only you (or your guardian or legal representative) may exercise your Share Appreciation Rights. In the event of your death, your Share Appreciation Rights may be exercised only by the executor or administrator of your estate or the person or persons to whom your rights under the Share Appreciation Rights shall pass by will or by the laws of intestate succession.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Conformity with Plan.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Your Share Appreciation Rights are intended to conform in all respects with, and are subject to, all applicable provisions of the Plan, the terms and conditions of which are incorporated herein by reference. Any inconsistencies between this Agreement and the Plan shall be resolved in accordance with the Plan.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Rights of Participants.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nothing in this Agreement shall interfere with or limit in any way the right of the Company and/or its Subsidiaries to terminate your employment at any time (with or without cause), or confer upon you any right to continue in the employ of the Company and/or its Subsidiaries for any period of time or to continue to receive your current (or other) rate of compensation. Nothing in this Agreement shall confer upon you any right to be selected to receive additional awards under the Plan or otherwise.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Withholding of Taxes.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company may, if necessary or desirable, withhold from any amounts due and payable to you by the Company or a Subsidiary (or secure payment from you in lieu of withholding) the amount of any withholding or other tax due from the Company or Subsidiary with respect to the issuance or exercise of your Share Appreciation Rights, and the Company may defer such issuance or exercise unless indemnified by you to its satisfaction against the payment of any such amount. Notwithstanding the foregoing, the maximum number of SAR Shares that may be withheld upon the issuance or exercise of your Share Appreciation Rights to satisfy any federal, state, or local tax withholding requirements may not exceed such number of SAR Shares having a Fair Market Value equal to the minimum statutory amount required by the Company to be withheld and paid to any such federal, state, or local taxing authority with respect to such issuance or exercise of your Share Appreciation Rights, or such greater amount as may be permitted under applicable accounting standards.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">8.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Adjustments.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the event that the Committee shall determine that any dividend in Shares, recapitalization, Share split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, or other similar corporate transaction or event affects the Shares such that an adjustment is appropriate in order to prevent dilution or enlargement of your rights under this Share Appreciation Rights Agreement, then the Committee shall make such equitable changes or adjustments as it deems appropriate and adjust, in such manner as it deems equitable, any or all of: (i) the number and kinds of SAR Shares, other securities or other consideration subject to the Share Appreciation Rights; and (ii) the Exercise Price of the Share Appreciation Rights. In the event that the Company shall declare an extraordinary cash dividend, then the Committee shall in its discretion either (i) pay you cash on the payment date of such dividend in an amount equal to the number of SAR Shares represented by the vested portion of your Share Appreciation Rights multiplied by the per share amount of such extraordinary cash dividend and to the extent these Share Appreciation Rights are not then fully vested make similar additional payments in the future when and as the remaining portion of these Share Appreciation Rights vest; or (ii) reduce the Exercise Price of your Share Appreciation Rights by an amount equal to the per share extraordinary dividend; or (iii) make such other adjustment as the Committee determines would provide you with a substantially similar benefit.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">9.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Notice.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given when delivered personally or by courier, or sent by certified or registered mail, postage prepaid, return receipt requested, duly addressed to the Company at the address indicated below or your address in the records of the Company, or by email or other electronic means using a system maintained by the Company when transmitted without a notice of failed delivery:</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:0px;text-align:left;padding-left:102px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;padding-left:102px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">390 Interlocken Crescent</font></div><div style="line-height:120%;text-align:left;padding-left:102px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Suite 1000</font></div><div style="line-height:120%;padding-top:0px;text-align:left;padding-left:102px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Broomfield, Colorado 80021 Attention: General Counsel</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">10.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Governing Law.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without reference to the principles of conflict of laws.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">11.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Compliance with Law.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The exercise of the Share Appreciation Rights shall be subject to compliance by the Company and you with all applicable laws, including the requirements of any stock exchange on which the SAR Shares may be listed. You may not exercise the Share Appreciation Rights if such exercise would violate any applicable federal or state securities laws or other laws or regulations. You understand that the Company is under no obligation to register the SAR Shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">12.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Successors and Assigns.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon you and your beneficiaries, executors, administrators and the person(s) to whom the Share Appreciation </font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Rights may be transferred by will or the laws of descent or distribution.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">13.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Severability.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">14.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Code Section 409A.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you on account of non- compliance with Section 409A of the Code.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:102px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:53px;"><font style="font-family:inherit;font-size:10pt;">15.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Binding Effect.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:54px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By accepting the award of Share Appreciation Rights, you agree to be bound by this Agreement.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:104px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><font style="font-family:inherit;font-size:10pt;">16.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Confidentiality.</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As part of your responsibilities with the Company, you may have access to or become familiar with information concerning the business of the Company that is of a confidential nature. By accepting this Award, you agree that you will not discuss or disclose any confidential information to any outside individual or institution or to use it for your own benefit except on the direct written authorization of a member of the Executive Committee. Please refer to the Confidential Information section in the Employee Guide for additional information, including a description of the information considered confidential. The Company will pursue legal remedies for unauthorized use or disclosure of sensitive, confidential information.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>4
<FILENAME>exhibit212020-q4.htm
<DESCRIPTION>SUBSIDIARIES OF VAIL RESORTS, INC.
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sFC4EF4E34E405A3E8EFF27809F025D4D"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 21</font></div><div style="line-height:174%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SUBSIDIARIES </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">1</sup>&#160;</font></div><div style="line-height:174%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">OF</font></div><div style="line-height:174%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">VAIL RESORTS, INC</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NAME</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">STATE OF INCORPORATION/ FORMATION</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DOING BUSINESS AS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1016563 B.C. Ltd.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1089881 B.C. Ltd.   </font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17402 HIDDEN VALLEY, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2006 CIMARRON, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AFFINITY SNOWSPORTS INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALL MEDIA ASSOCIATES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">California</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN NEWS CORPORATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN NEWS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALL MEDIA HOLDINGS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AQUIA PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ARRABELLE AT VAIL SQUARE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AUSTRALIAN ALPINE ENTERPRISES PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AUSTRALIAN ALPINE RESERVATION CENTRES PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AVON PARTNERS II LIMITED LIABILITY COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BBJFLQ, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BCRP, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK ASSOCIATES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEANO AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HAY MEADOW AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LATIGO AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MCCOY PARK AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RED TAIL AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPRUCE SADDLE RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STRAWBERRY PARK AT BEAVER CREEK</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK CONSULTANTS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK FOOD SERVICES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BACHELOR GULCH CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEANO&#8217;S CABIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREPES AND COOKIES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CANDY CABIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GUNDER&#8217;S</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TALONS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BLACK DIAMOND INSURANCE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Arizona</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BLACKCOMB MOUNTAIN DEVELOPMENT LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BLACKCOMB SKIING ENTERPRISES LIMITED PARTNERSHIP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BLACKCOMB SKIING ENTERPRISES LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BLC OPERATORS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOOTH CREEK SKI HOLDINGS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOSTON MILLS SKI RESORT, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ohio</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOULDER VIEW TAVERN, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRANDYWINE SKI RESORT, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ohio</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE RESORT PROPERTIES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE RESORT PROPERTIES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS PROPERTY MANAGEMENT</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE TERRACE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CARINTHIA GROUP 1, LP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CARINTHIA GROUP 2, LP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CARINTHIA RESIDENTIAL PHASE 1, LP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CARINTHIA SKI LODGE LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CB COMMERCIAL PROPERTIES, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLORADO MOUNTAIN EXPRESS, INC.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CME</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CMECOUPONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CMECOUPONS.COM</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CME DESTINATIONS WEST</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CME PARTNERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CME PREMIER                                 COLORADO MOUNTAIN EXPRESS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DESTINATIONS WEST</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EPIC MOUNTAIN EXPRESS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PREMIER VIP TRANSPORTATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RESORT EXPRESS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN ART GUIDE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN DINING GUIDE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKIER'S CONNECTION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRANSPORTATION MANAGEMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;SYSTEMS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEELS OF FORTUNE</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLTER BAY CAF&#201; COURT, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLTER BAY CONVENIENCE STORE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLTER BAY CORPORATION</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLTER BAY GENERAL STORE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLTER BAY MARINA, LLC</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CBMR PROPERTIES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CBMR SKI AND RIDE SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE SKI AREA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE SKI RENTAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE VACATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GENERAL STORE &#8211; CBMR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HALL OF FAME BAR &amp; GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ICE BAR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIDS WORLD &#8211; CBMR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OUTPOST CBMR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARADISE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RESORT COMMUNICATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RUSTICA CBMR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRACKERS &#8211; CBMR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WOODSTONE GRILLE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CAMP CB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CB CONFERENCE SERVICES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CBMR LIFT TICKETS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GRAND LODGE HOTEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GRAND LODGE RETAIL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JEFE&#8217;S RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE AT MOUNTAINEER SQUARE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LOGO&#8217;D AT CB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TEN PEAKS RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIN AIR SPORTS </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TREASURY CENTER RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHITE ROOM</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CB MOUNTAIN SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ULEY&#8217;S CABIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN ADVENTURES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CBMR WHOLESALE DEPARTMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE WHOLESALE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE TRAVEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COAL BREAKERS &#8211; CRESTED BUTTE  <br>   MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ELEVATION RETAIL </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ATMOSPHERE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUTTE 66</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUTTE 66 BBQ ROADHOUSE</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CROTCHED MOUNTAIN PROPERTIES, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Hampshire</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRYSTAL PEAK LODGE OF BRECKENRIDGE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRYSTAL PEAK LODGE</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DELTRECS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ohio</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DTPC, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DT PARK CITY HOTEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">INTELLIGENTSIA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROOTS GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VERTICAL LOUNGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">YARROW HOTEL</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EPICSKI, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Montana</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EVER VAIL, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FIRST CHAIR HOUSING TRUSTEE LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FLAGG RANCH COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FOREST RIDGE HOLDINGS, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FROSTY LAND, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GARIBALDI LIFTS LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GILLETT BROADCASTING, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GORE CREEK PLACE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GRAND TETON LODGE COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GREAT NORTH REGIONAL CERNTER, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GREATER PARK CITY COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Utah</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GREATER PARK CITY CORPORATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY MOUNTAIN RESORT</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GREATER PROPERTIES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GROS VENTRE UTILITY COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY VALLEY, LIMITED PARTNERSHIP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nevada</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUB'S PUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXPEDITION KIRKWOOD</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD CENTRAL RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD GENERAL STORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD INN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD MOUNTAIN OUTFITTERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD SERVICE CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD SKI AND SUMMER RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD SKI RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MONTE WOLFS MOUNTAIN KITCHEN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OFF THE WALL BAR AND GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TIMBER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HIDDEN VALLEY GOLF AND SKI, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HPK, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNKIDORI LAND COMPANY, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER MOUNTAIN ACQUISITION, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER MOUNTAIN BASE LODGE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER MOUNTAIN FESTIVALS, LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER MOUNTAIN RENTALS, LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER MOUNTAIN SKI BOWL, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HUNTER RESORT VACATIONS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New York</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HVLP KIRKWOOD SERVICES, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">California</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON HOLE GOLF AND TENNIS CLUB, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON HOLE GOLF AND TENNIS CLUB SNACK SHACK, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON LAKE LODGE CORPORATION</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JENNY LAKE LODGE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JENNY LAKE STORE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JFBB LQ, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JFBB SKI AREAS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JHL&amp;S LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE CONFERENCE SERVICES, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE DEVELOPMENT SALES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE FOOD AND BEVERAGE COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9280'</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALPENTOP DELI</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DERCUM SQUARE ICE RINK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE CORPORATE CENTER </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;CORPORATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE LODGE &amp; SPA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MINER&#8217;S CART</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE SKI HILL PLACE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PIONEER CROSSING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW DRIFTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CROW'S NEST</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE OVERLOOK</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE RESORT PROPERTY MANAGEMENT COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE CENTRAL RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE MOUNTAIN&#160;RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE PROPERTY MANAGEMENT</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE/INTRAWEST, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE REAL ESTATE   DEVELOPMENTS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE/INTRAWEST REAL ESTATE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LA POSADA BEVERAGE SERVICE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LAKE TAHOE LODGING COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ACCOMMODATION STATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TAHOE LODGING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ZALANTA</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LARKSPUR RESTAURANT &amp; BAR, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LBO HOLDING, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maine</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE PROPERTIES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE LODGE AT VAIL</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE REALTY, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAD RIVER MOUNTAIN, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MHSC DP PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MHSC HOTELS PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MHSC PROPERTIES PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MHSC TRANSPORTATION SERVICES PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT HOTHAM MANAGEMENT AND RESERVATION PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT HOTHAM SKIING COMPANY PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN NEWS GMBH</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Germany</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN THUNDER, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MT CB REAL ESTATE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NATIONAL PARK HOSPITALITY COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR GROUP COMMERCIAL PROPERTIES, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR GROUP RESTAURANT PROPERTIES, LLC</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO LIMITED LIABILITY COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CAMP GOKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON COUNTRY CLUB AT OKEMO  <br>   MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE AT OKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE COUNTRY CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NEW ENGLAND&#8217;S SKI RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO HEALTH CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN LODGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN LODGING BUREAU</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN LODGING SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN RENTAL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN RESERVATION  <br>   SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN RESORT PROPERTIES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN SKI RENTAL AND  <br>   REPAIR SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO RENTAL SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO SKI AND RIDE SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO SPA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO SPORTS CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO VALLEY GOLF ACADEMY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO VALLEY GOLF CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO VALLEY GOLF COURSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO VALLEY NORDIC CENTER    SNOW STARS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW TRACKS LEARNING CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SOLITUDE VILLAGE SPORTS CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE GOLF ACADEMY AT OKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE ICE HOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE MEETING HOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE OKEMO VALLEY GOLF SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SPA AT OKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SPORTS CENTER AT OKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SPRING HOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE VILLAGE AT JACKSON GORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WOMEN&#8217;S SKI SPREE</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OKEMO MOUNTAIN FOOD AND BEVERAGE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EPIC</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE INN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SIENA AT JACKSON GORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKY BAR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SMOKEY JOE&#8217;S GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE COLEMAN BROOK TAVERN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CORNER STORE AT JACKSON GORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE INN AT JACKSON GORE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SITTING BULL LOUNGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VERMONT PIZZA AT OKEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WILLIE DUNN&#8217;S GRILLE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE RIVER RUN, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE SKI HILL PLACE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PAOLI PEAKS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK PROPERTIES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PEAK TO CREEK HOLDINGS CORP.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PEAK TO CREEK LODGING COMPANY LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGING OVATIONS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PEAK RESORTS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PERISHER BLUE PTY LIMITED</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PROPERTY MANAGEMENT ACQUISITION CORP., INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tennessee</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN RESORT LODGING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;COMPANY</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RCR VAIL, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN RESIDENCES, LLC</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS ARRABELLE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS CORDILLERA LODGE COMPANY, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS COSTA RICA S.R.L.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Costa Rica</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS DR, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS EQUINOX, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS HOTEL JEROME, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS INTERNATIONAL, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS INTERNATIONAL MANAGEMENT COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS INTERNATIONAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;MANAGEMENT COMPANY, LLC</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS JAMAICA LIMITED</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Jamaica</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS SKI TIP, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS (ST. LUCIA) INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">St. Lucia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS THIRD TURTLE, LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Turks &amp; Caicos Islands</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS WYOMING, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKRESORTS, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI LIBERTY OPERATING CORP.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI ROUNDTOP OPERATING CORP.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKIINFO AS</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Norway</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKIINFO.FR S.A.R.L.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">France</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SLIFER SMITH &amp; FRAMPTON/VAIL ASSOCIATES REAL ESTATE, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SLIFER, SMITH &amp; FRAMPTON REAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160; ESTATE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SLIFER, SMITH &amp; FRAMPTON/VAIL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;ASSOCIATES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SLIFER, SMITH &amp; FRAMPTON/VAIL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160; ASSOCIATES LLC</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL LIONSHEAD REAL ESTATE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160; BROKERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL-LIONSHEAD REAL ESTATE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160; BROKERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL-LIONSHEAD REAL ESTATE CO.</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SOHO DEVELOPMENT, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNH DEVELOPMENT, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW CREEK, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW TIME ACQUISITION, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Missouri</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW TIME, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSI VENTURE, INC.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALL MOUNTAIN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALTERNATIVE EDGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ANY MOUNTAIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASPEN SPORTS AT SNOWMASS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASPEN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK FLY FISHER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SIGNATURE SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BICYCLE VILLAGE OF COLORADO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOARDER CROSS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOARDER CROSSING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOARDER X-ING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOARDINGHOUSE CECILS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOOTSIE LACY B LLC</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOULDER SKI AND BIKE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOULDER SKI AND BIKE DEALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BOULDER SKI DEALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BREEZE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BREEZE SKI RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BREEZE SKI &amp; SPORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUTTERBOX</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUTTERBOX RENTAL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BUYSKIS.COM</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CB MOUNTAIN OUTFITTERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLORADO SKI AND BIKE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLORADO SKI &amp; GOLF</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLORADO SNOWBOARDS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COPPER MOUNTAIN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COPPER VILLAGE SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CRESTED BUTTE RENTAL &amp; DEMO </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;  CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DEPOT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DEPOT SKI RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EFLIN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EPIC MOUNTAIN GEAR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FRISCO SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GRAND WEST OUTFITTERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GONDOLA SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GORE CREEK FLY FISHERMAN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HAPPY THOUGHTS </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY BOULDER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY LAKELAND VILLAGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY SPORTS - CECILS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY STAGECOACH</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HEAVENLY TAMARACK LODGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HOIGAARD&#8217;S</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">HS GONDOLA SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD MOUNTAIN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD VILLAGE DEMOS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KIRKWOOD VILLAGE RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LAKE TAHOE RESORT HOTEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LIONSHEAD SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LOGO'D AT GRAND LODGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAIN LOGE RENTAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAIN LODGE RETAIL</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSI VENTURE, INC. (Continued)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAIN STREET OUTLET</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MID MOUNTAIN RETAIL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAX SNOWBOARD</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MINE CHILDREN&#8217;S</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN ADVENTURE CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN BASICS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN SPORTS OUTLET</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAINSPORT TELLURIDE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR ADVENTURE CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR LOGO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR LOGO COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR ON MTN DEMOS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE TRACK MIND</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY MOUNTAIN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PEAK SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PERFORMANCE SKI &amp; BOARD DEMO</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RENTBOARDS.COM</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RENTSKIS.COM</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RENTSKIS GOLD</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RITZ RENTAL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RIVER RUN SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN EYES AND TEES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN EYES AND T'S</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN EYEWEAR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN EYEWEAR LTD.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SAN MIGUEL ANGLERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI &amp; BOARD RENTAL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI DEPOT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI DEPOT RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI DEPOT SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOWMASS SPORT STALKER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPECIALTY SPORTS NETWORK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPECIALTY SPORTS VENTURE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STEAMBOAT SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TAYLOR CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TAYLOR CREEK ANGLING SERVICES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TAYLOR CREEK FLY SHOPS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TAYLOR CREEK SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TELLURIDE ADVENTURES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TELLURIDE MOUNTAIN BIKE HEADQUARTERS LLC</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TELLURIDE MOUNTAINCRAFT LLC</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TELLURIDE SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TEN MILE SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE BOARDING HOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE DEPOT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SKI DOCTOR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TIMBER CREEK KW RETAIL\RENTAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRUE NORTH</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL FISHING GUIDES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL FLY-FISHING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL FLY-FISHING OUTFITTERS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS RETAIL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL SPORTS KIDS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSI VENTURE, INC. (Continued)</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WINTER PARK SKI RENTALS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WINTER PARK SKI SWAP</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ZEPHYR LODGE NORTHSTAR</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSV HOLDINGS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NEVE SPORTS</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSV ONLINE LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wisconsin</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OUTDOOR OUTLET</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SSV ONLINE HOLDINGS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STAGECOACH DEVELOPMENT, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nevada</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STAMPEDE CANTEEN, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SUMMIT SKI LIMITED</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SYCAMORE LAKE, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ohio</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ALPINE VALLEY</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TCRM COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TENDERFOOT SEASONAL HOUSING, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TETON HOSPITALITY SERVICES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Wyoming</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CANYONS GOLF CLUB, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CHALETS AT THE LODGE AT VAIL, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE LODGE AT VAIL CHALETS</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE SUNAPEE DIFFERENCE LLC</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Hampshire</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE CUTTING EDGE  <br>   LEARNING CENTER </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE CUTTING EDGE SKI  <br>   SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE LODGING BUREAU</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE LODGING SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE NEW HAMPSHIRE&#8217;S  <br>   RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE RENTAL SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE RESERVATION BUREAU                                                MOUNT SUNAPEE RESERVATION SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE SKI AND SNOWBOARD  <br>   SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE SKI AREA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE SKI RENTALS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE SKI SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNT SUNAPEE SNOWSPORTS SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NEW HAMPSHIRE&#8217;S BEST CORDUROY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW PROS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VILLAGE AT MOUNT SUNAPEE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISK AROUND THE MOUNTAIN</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE VAIL CORPORATION</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ARROWHEAD ALPINE CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASPEN GROVE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AVAIL ADVENTURE OUTFITTERS, LTD.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BACHELOR GULCH CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BACHELOR GULCH</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PASSPORT CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PRATER LANE PLAY SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RED SKY GOLF CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RED SKY GOLF CLUB GUEST CLUBHOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;PRO SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RED SKY GOLF CLUB MEMBER PRO SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE ARRABELLE CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE OSPREY AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE PASSPORT CLUBHOUSE AT GOLDEN </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;PEAK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE YOUNGER GENERATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TV8</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES, INC.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL CONSULTANTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN HIKING CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS MANAGEMENT COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL SNOWBOARD SUPPLY</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE VILLAGE AT BRECKENRIDGE ACQUISITION CORP., INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tennessee</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE MOUNTAIN LODGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MAGGIE CAFETERIA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MOUNTAIN THUNDER PROPERTY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;MANAGEMENT COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN RESORT LODGING</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE VILLAGE AT BRECKENRIDGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE VILLAGE AT BRECKENRIDGE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VILLAGE PUB</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRIMONT LAND COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">California</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR AT TAHOE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NORTHSTAR CALIFORNIA</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRIPLE PEAKS, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VA RANCHO MIRAGE I, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VA RANCHO MIRAGE II, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VA RANCHO MIRAGE RESORT, L.P.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES HOLDINGS, LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES INVESTMENTS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WARREN LAKES VENTURE, LTD.</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES REAL ESTATE, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL FOOD SERVICES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BISTRO 14</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXTRA EXTRA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FOX HOLLOW GOLF COURSE CLUBHOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GOLDEN PEAK GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GOLDEN PEAK RESTAURANT AND </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;CANTINA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">IN THE DOG HAUS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE ELK RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RIPPEROO&#8217;S CORNER CAF&#201;</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SALSA'S</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE LIONS DEN BAR &amp; GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TWO ELK RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN DINING COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WAFFLE WAY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WILDWOOD EXPRESS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WILDWOOD SMOKEHOUSE</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL HOLDINGS FINANCE B.V.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Netherlands</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL HOLDINGS, INC.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">APR&#201;S LOUNGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AVON AT BEAVER CREEK.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AVON-VAIL COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK ADVERTISING AGENCY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK EQUESTRIAN CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK GOLF AND TENNIS CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK GOLF CLUB BAR &amp; GRILL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK GOLF CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK GUIDES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK JEEP GUIDES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI PATROL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI RENTAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI REPAIR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI SCHOOL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI SERVICE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SKI SHOPS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SPORTING GOODS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SPORT SHOP</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK TENNIS CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK VACATION RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EAGLE RESIDENCES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GAME CREEK CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PLAZA LODGE AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE ENCLAVE RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE INN AT BEAVER CREEK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRAIL'S END BAR</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES DEVELOPMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;CORPORATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/BEAVER CREEK CENTRAL </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL-BEAVER CREEK COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL BEAVER CREEK REAL ESTATE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN CLUB</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL MOUNTAIN RESORT AND </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;CONFERENCE  CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL PRODUCTIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WILDWOOD SHELTER</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL HOTEL MANAGEMENT COMPANY, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS DEVELOPMENT COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL ASSOCIATES REAL ESTATE GROUP</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS LODGING COMPANY</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY RENTAL MANAGEMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS HOSPITALITY</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RR, INC.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL SUMMIT RESORTS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK VILLAGE TRAVEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE HOSPITALITY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE LODGING &amp;&#160;HOSPITALITY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE PROPERTY MANAGEMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE SKI RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRECKENRIDGE SKI RESORT  </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;CORPORATION</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COLORADO VACATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE CONFERENCE CENTER KEYSTONE LODGE &amp; SPA</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE LODGING AND HOSPITALITY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE STABLES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KEYSTONE TRAVEL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RESERVATIONS FOR THE SUMMIT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN RESORTVACATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ROCKY MOUNTAIN SKI CONSOLIDATORS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/BEAVER CREEK CENTRAL</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160; RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/BEAVER CREEK RESERVATIONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/BEAVER CREEK TRAVEL</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL TRADEMARKS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL RESORTS TRADEMARKS</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/ARROWHEAD, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL/BEAVER CREEK RESORT PROPERTIES, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ARROWHEAD PROPERTY MANAGEMENT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BACHELOR GULCH PROPERTY </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;MANAGEMENT COMPANY</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK RESORT PROPERTIES</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAVER CREEK TENNIS CENTER</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TRAPPER'S CABIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAIL PROPERTY MANAGEMENT</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VAMHC, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR ACQUISITION, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">California</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR AUSTRALIA HOLDINGS PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR CPC HOLDINGS, INC.</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CANYONS GOLF COURSE BEVERAGE </font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;CARTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CANYONS RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COBRA DOG SHACK</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">KRISTI&#8217;S COFFEE CAF&#201;</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LEGACY LODGE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LEGACY SPORTS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LEGENDS AT THE RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MID MOUNTAIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MINER'S CAMP RESTAURANT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY MOUNTAIN RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY MOUNTAIN</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY RESORT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SNOW HUT</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SUMMIT HOUSE</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CANYONS</font></div><div style="padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PARK CITY RESORT</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR CPC SERVICES, LLC</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR HEAVENLY CONCESSIONS, INC.</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">California</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR HEAVENLY I, INC.</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR HEAVENLY II, INC.</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR HOLDINGS, INC.</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Colorado</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR NE HOLDINGS, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON COUNTRY CLUB</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE AT OKEMO MOUNTAIN </font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;RESORT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE LODGE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE RENTALS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE RESERVATIONS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VACATION CLUB</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VACATIONS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VILLAGE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VILLAGE LODGING </font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;SERVICE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VILLAGE RENTALS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JACKSON GORE VILLAGE SPORT AND </font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;FITNESS CENTER</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR NW HOLDINGS, INC.</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR US HOLDINGS, INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AFTON ALPS</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AFTON ALPS RESORT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BRUHN&#8217;S</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MT. BRIGHTON</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MT. BRIGHTON RESORT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ONE CREEK MOUNTAIN GRILL</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SKI HILL GRILL</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE TRUCK</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR US HOLDINGS II, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STOWE MOUNTAIN RESORT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ADVENTURE CENTER</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CLIFF HOUSE RESTAURANT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">CUBS CHILD CARE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GONDOLA CAF&#201;</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE AT MT. MANSFIELD</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LODGE AT STOWE MOUNTAIN RESORT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MIDWAY CAF&#201;</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MT. MANSFIELD BASELODGE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">MT. MANSFIELD SKI PATROL</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">OCTAGON CAFETERIA</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SMUGGLERS DEN</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPRUCE BASE CAMP</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPURCE CAMP BASE LODGE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPRUCE CAMP</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SPRUCE LODGET AT MT. MANSFIELD</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STOWE ADVENTURE CENTER</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STOWE BASE CAMP</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">STOWE CUBS DAYCARE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE CANTEEN RESTAURANT</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE FIRESIDE TAVERN</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE INN AT THE MOUNTAIN</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE OCTAGON</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TOLL HOUSE CONFERENCE CENTER</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">TREETOP ADVENTURE</font></div><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ZIPTOUR ADVENTURE</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VR WM HOLDINGS, LLC</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Delaware</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WILMOT MOUNTAIN RESORT</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">VRV AUSTRALIA PTY LTD</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Australia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WB LAND INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WB LAND (CREEKSIDE SNOW SCHOOL) INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WB/T DEVELOPMENT LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WC ACQUISITION CORP.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Hampshire</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;border-bottom:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:38%;"></td><td style="width:20%;"></td><td style="width:42%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WEST LAKE WATER PROJECT, LLC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vermont</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER &amp; BLACKCOMB MOUNTAIN RESORTS LIMITED</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER ALPINE CLUB INC.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER BLACKCOMB EMPLOYMENT CORP.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER BLACKCOMB HOLDINGS INC. (f/k/a 1068877 BC Ltd.)</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER/BLACKCOMB MOUNTAIN EMPLOYEE HOUSING LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER BLACKCOMB GENERAL PARTNER LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER HELI-SKIING LTD.</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER MOUNTAIN RESORT LIMITED PARTNERSHIP</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHISTLER SKI SCHOOL LTD.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Columbia</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHITETAIL MOUNTAIN OPERATING CORP.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">1</sup></font><font style="font-family:inherit;font-size:10pt;">Includes only those entities owned 50% or greater.</font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>5
<FILENAME>exhibit232020-q4.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s77084827B85156DC8C741178AA91F599"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 23</font></div><div style="line-height:174%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;padding-top:32px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We hereby consent to the incorporation by reference in the Registration Statements on Form S-3 (No. 333-233953) and on Form S-8 (Nos. 333-145934, 333-169552, and 333-208357) of Vail Resorts, Inc. of our report</font><font style="font-family:inherit;font-size:10pt;color:#ff0000;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt"> </sup></font><font style="font-family:inherit;font-size:10pt;">dated September 24, 2020 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in this Form 10-K.</font><font style="font-family:inherit;font-size:10pt;color:#ff0000;"><sup style="vertical-align:top;line-height:120%;font-size:7pt"> </sup>&#160;</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/PricewaterhouseCoopers LLP </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denver, Colorado</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">September 24, 2020</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>6
<FILENAME>exhibit3112020-q4.htm
<DESCRIPTION>CERTIFICATION OF CHIEF EXECUTIVE OFFICER
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s49D291DA60BB51AAB47762ABC32252ED"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 31.1</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PURSUANT TO SECTION 302 OF THE</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SARBANES-OXLEY ACT OF 2002</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I, Robert A. Katz, certify that:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:4%;"></td><td style="width:6%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I have reviewed this annual report on Form 10-K of Vail Resorts, Inc.;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">b)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">c)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">d)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information; and</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">b)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:55%;"></td><td style="width:45%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ ROBERT A. KATZ</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Robert A. Katz</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Executive Officer</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>7
<FILENAME>exhibit3122020-q4.htm
<DESCRIPTION>CERTIFICATION OF CHIEF FINANCIAL OFFICER
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s3DDC30CEBCFE57B09B2F6E22370F9427"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 31.2</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CERTIFICATION OF THE CHIEF FINANCIAL OFFICER</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PURSUANT TO SECTION 302 OF THE</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SARBANES-OXLEY ACT OF 2002</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I, Michael Z. Barkin, certify that:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:4%;"></td><td style="width:6%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I have reviewed this annual report on Form 10-K of Vail Resorts, Inc.;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4.</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">b)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">c)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">d)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information; and</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">b)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:55%;"></td><td style="width:45%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ MICHAEL Z. BARKIN</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Michael Z. Barkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executive Vice President and Chief Financial Officer</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>8
<FILENAME>exhibit322020-q4.htm
<DESCRIPTION>CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2020 Workiva -->
		<title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s45143F038F8E5201BD4769B80BFC2F1D"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 32</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AND THE CHIEF FINANCIAL OFFICER</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned hereby certifies in his capacity as an officer of Vail Resorts, Inc. (the &#8220;Company&#8221;) that the Company's Annual Report on Form 10-K for the year ended July 31, 2020 (the &#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such Report fairly presents, in all material respects, the financial condition and the results of operations of the Company at the end of and for the periods covered by such Report. </font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:55%;"></td><td style="width:45%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ ROBERT A. KATZ</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Robert A. Katz</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Chief Executive Officer</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:55%;"></td><td style="width:45%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: September 24, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ MICHAEL Z. BARKIN</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Michael Z. Barkin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executive Vice President and Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is not a part of the Form 10-K to which it refers, and is, to the extent permitted by law, provided by each of the above signatories to the extent of his respective knowledge.  This certification is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of Vail Resorts, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of the Form 10-K), irrespective of any general incorporation language contained in such filing.  A signed original of this written statement required by Section 906 has been provided to Vail Resorts, Inc. and will be furnished to the Securities and Exchange Commission or its staff upon request.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</div></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>9
<FILENAME>mtn-20200731.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<xsd:schema attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://www.vailresorts.com/20200731" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:mtn="http://www.vailresorts.com/20200731" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <xsd:import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-roles/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/currency/2020-01-31" schemaLocation="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2020-01-31" schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/exch/2020-01-31" schemaLocation="https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/naics/2017-01-31" schemaLocation="http://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/sic/2020-01-31" schemaLocation="https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mtn-20200731_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mtn-20200731_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mtn-20200731_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mtn-20200731_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple" />
      <link:roleType id="Acquisitions" roleURI="http://www.vailresorts.com/role/Acquisitions">
        <link:definition>2107100 - Disclosure - Acquisitions</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsNarrativeDetails" roleURI="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails">
        <link:definition>2407402 - Disclosure - Acquisitions (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails">
        <link:definition>2407403 - Disclosure - Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsSummaryProFormaFinancialInformationDetails" roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails">
        <link:definition>2407404 - Disclosure - Acquisitions (Summary Pro Forma Financial Information) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsTables" roleURI="http://www.vailresorts.com/role/AcquisitionsTables">
        <link:definition>2307301 - Disclosure - Acquisitions (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingencies" roleURI="http://www.vailresorts.com/role/CommitmentsAndContingencies">
        <link:definition>2115100 - Disclosure - Commitments and Contingencies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails">
        <link:definition>2415403 - Disclosure - Commitments and Contingencies (Future Minimum Lease Payment) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingenciesNarrativeDetails" roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails">
        <link:definition>2415402 - Disclosure - Commitments and Contingencies (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingenciesTables" roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables">
        <link:definition>2315301 - Disclosure - Commitments and Contingencies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheets" roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheets">
        <link:definition>1001000 - Statement - Consolidated Balance Sheets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheetsParenthetical" roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical">
        <link:definition>1001501 - Statement - Consolidated Balance Sheets (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementOfComprehensiveIncome" roleURI="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome">
        <link:definition>1003000 - Statement - Consolidated Statement of Comprehensive Income</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfCashFlows" roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows">
        <link:definition>1005000 - Statement - Consolidated Statements Of Cash Flows</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical">
        <link:definition>1003001 - Statement - Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfOperations" roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations">
        <link:definition>1002000 - Statement - Consolidated Statements Of Operations</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfStockholdersEquity" roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity">
        <link:definition>1004000 - Statement - Consolidated Statements Of Stockholders' Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DocumentAndEntityInformation" roleURI="http://www.vailresorts.com/role/DocumentAndEntityInformation">
        <link:definition>0001000 - Document - Document And Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="FairValueMeasurements" roleURI="http://www.vailresorts.com/role/FairValueMeasurements">
        <link:definition>2112100 - Disclosure - Fair Value Measurements</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="FairValueMeasurementsDetails" roleURI="http://www.vailresorts.com/role/FairValueMeasurementsDetails">
        <link:definition>2412402 - Disclosure - Fair Value Measurements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="FairValueMeasurementsTables" roleURI="http://www.vailresorts.com/role/FairValueMeasurementsTables">
        <link:definition>2312301 - Disclosure - Fair Value Measurements (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxes" roleURI="http://www.vailresorts.com/role/IncomeTaxes">
        <link:definition>2113100 - Disclosure - Income Taxes</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails">
        <link:definition>2413403 - Disclosure - Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails">
        <link:definition>2413407 - Disclosure - Income Taxes Components of Income before Income Taxes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails">
        <link:definition>2413404 - Disclosure - Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesNarrativeDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails">
        <link:definition>2413402 - Disclosure - Income Taxes (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails">
        <link:definition>2413408 - Disclosure - Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails">
        <link:definition>2413405 - Disclosure - Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails">
        <link:definition>2413406 - Disclosure - Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesTables" roleURI="http://www.vailresorts.com/role/IncomeTaxesTables">
        <link:definition>2313301 - Disclosure - Income Taxes (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInAffiliates" roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliates">
        <link:definition>2111100 - Disclosure - Investments in Affiliates</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInAffiliatesDetails" roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails">
        <link:definition>2411402 - Disclosure - Investments in Affiliates (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInAffiliatesTables" roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables">
        <link:definition>2311301 - Disclosure - Investments in Affiliates (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesDetails" roleURI="http://www.vailresorts.com/role/LeasesDetails">
        <link:definition>2404402 - Disclosure - Leases (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesNotes" roleURI="http://www.vailresorts.com/role/LeasesNotes">
        <link:definition>2104100 - Disclosure - Leases (Notes)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LeasesTables" roleURI="http://www.vailresorts.com/role/LeasesTables">
        <link:definition>2304301 - Disclosure - Leases (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LongTermDebt" roleURI="http://www.vailresorts.com/role/LongTermDebt">
        <link:definition>2106100 - Disclosure - Long-Term Debt</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails">
        <link:definition>2406403 - Disclosure - Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LongTermDebtScheduleOfDebtInstrumentsDetails" roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails">
        <link:definition>2406402 - Disclosure - Long-Term Debt (Schedule Of Debt Instruments) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="LongTermDebtTables" roleURI="http://www.vailresorts.com/role/LongTermDebtTables">
        <link:definition>2306301 - Disclosure - Long-Term Debt (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="NetIncomePerCommonShare" roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShare">
        <link:definition>2105100 - Disclosure - Net Income Per Common Share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="NetIncomePerCommonShareDetails" roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails">
        <link:definition>2405402 - Disclosure - Net Income Per Common Share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="NetIncomePerCommonShareTables" roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareTables">
        <link:definition>2305301 - Disclosure - Net Income Per Common Share (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="OrganizationAndBusiness" roleURI="http://www.vailresorts.com/role/OrganizationAndBusiness">
        <link:definition>2101100 - Disclosure - Organization and Business</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RelatedPartyTransactions" roleURI="http://www.vailresorts.com/role/RelatedPartyTransactions">
        <link:definition>2114100 - Disclosure - Related Party Transactions</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RelatedPartyTransactionsDetails" roleURI="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails">
        <link:definition>2414401 - Disclosure - Related Party Transactions (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RetirementAndProfitSharingPlans" roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans">
        <link:definition>2120100 - Disclosure - Retirement and Profit Sharing Plans</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RetirementAndProfitSharingPlansDetails" roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails">
        <link:definition>2420401 - Disclosure - Retirement and Profit Sharing Plans (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuesContractBalancesDetails" roleURI="http://www.vailresorts.com/role/RevenuesContractBalancesDetails">
        <link:definition>2403403 - Disclosure - Revenues Contract Balances (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuesCostsToObtainContractsWithCustomersDetails" roleURI="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails">
        <link:definition>2403404 - Disclosure - Revenues Costs to Obtain Contracts with Customers (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuesDetails" roleURI="http://www.vailresorts.com/role/RevenuesDetails">
        <link:definition>2403402 - Disclosure - Revenues (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuesNotes" roleURI="http://www.vailresorts.com/role/RevenuesNotes">
        <link:definition>2103100 - Disclosure - Revenues (Notes)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RevenuesTables" roleURI="http://www.vailresorts.com/role/RevenuesTables">
        <link:definition>2303301 - Disclosure - Revenues (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentInformation" roleURI="http://www.vailresorts.com/role/SegmentInformation">
        <link:definition>2116100 - Disclosure - Segment Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentInformationDetails" roleURI="http://www.vailresorts.com/role/SegmentInformationDetails">
        <link:definition>2416402 - Disclosure - Segment Information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentInformationGeographicInformationDetails" roleURI="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails">
        <link:definition>2416403 - Disclosure - Segment Information Geographic Information (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SegmentInformationTables" roleURI="http://www.vailresorts.com/role/SegmentInformationTables">
        <link:definition>2316301 - Disclosure - Segment Information (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SelectedQuarterlyFinancialData" roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData">
        <link:definition>2117100 - Disclosure - Selected Quarterly Financial Data</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SelectedQuarterlyFinancialDataDetails" roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails">
        <link:definition>2417402 - Disclosure - Selected Quarterly Financial Data (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SelectedQuarterlyFinancialDataTables" roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables">
        <link:definition>2317301 - Disclosure - Selected Quarterly Financial Data (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlan" roleURI="http://www.vailresorts.com/role/StockCompensationPlan">
        <link:definition>2119100 - Disclosure - Stock Compensation Plan</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanNarrativeDetails" roleURI="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails">
        <link:definition>2419402 - Disclosure - Stock Compensation Plan (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails">
        <link:definition>2419404 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails">
        <link:definition>2419406 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails">
        <link:definition>2419405 - Disclosure - Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails">
        <link:definition>2419403 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockCompensationPlanTables" roleURI="http://www.vailresorts.com/role/StockCompensationPlanTables">
        <link:definition>2319301 - Disclosure - Stock Compensation Plan (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockRepurchasePlan" roleURI="http://www.vailresorts.com/role/StockRepurchasePlan">
        <link:definition>2118100 - Disclosure - Stock Repurchase Plan</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockRepurchasePlanDetails" roleURI="http://www.vailresorts.com/role/StockRepurchasePlanDetails">
        <link:definition>2418401 - Disclosure - Stock Repurchase Plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPolicies" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies">
        <link:definition>2102100 - Disclosure - Summary of Significant Accounting Policies</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails">
        <link:definition>2402405 - Disclosure - Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesNarrativeDetails" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails">
        <link:definition>2402403 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesPolicies" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies">
        <link:definition>2202201 - Disclosure - Summary of Significant Accounting Policies (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails">
        <link:definition>2402404 - Disclosure - Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesTables" roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables">
        <link:definition>2302302 - Disclosure - Summary of Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformation" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation">
        <link:definition>2109100 - Disclosure - Supplementary Balance Sheet Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails">
        <link:definition>2409406 - Disclosure - Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails">
        <link:definition>2409407 - Disclosure - Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails">
        <link:definition>2409408 - Disclosure - Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails">
        <link:definition>2409405 - Disclosure - Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails">
        <link:definition>2409403 - Disclosure - Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails">
        <link:definition>2409404 - Disclosure - Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationNarrativeDetails" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails">
        <link:definition>2409402 - Disclosure - Supplementary Balance Sheet Information (Narrative) (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SupplementaryBalanceSheetInformationTables" roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables">
        <link:definition>2309301 - Disclosure - Supplementary Balance Sheet Information (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:element abstract="true" id="mtn_A6.25NotesMember" name="A6.25NotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_AccountsPayableAccruedLiabilities" name="AccountsPayableAccruedLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_AccumulatedAmortizationExcludingGoodwill" name="AccumulatedAmortizationExcludingGoodwill" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_AdjustmentsToCapitalLeaseAnnualPayments" name="AdjustmentsToCapitalLeaseAnnualPayments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_AlpineValleySecuredNoteMember" name="AlpineValleySecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_AnnualInterestRateIncreaseCap" name="AnnualInterestRateIncreaseCap" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock" name="BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_BcHousingMember" name="BcHousingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_BeaverCreekResortCompanyOfColoradoMember" name="BeaverCreekResortCompanyOfColoradoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_BostonMillsBrandywineSecuredNoteMember" name="BostonMillsBrandywineSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_BreckenridgeTerraceMember" name="BreckenridgeTerraceMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_BusinessCombinationCashConsiderationTransferred" name="BusinessCombinationCashConsiderationTransferred" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_CanyonsMember" name="CanyonsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_CanyonsObligationMember" name="CanyonsObligationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_CapitalLeasedAssetsAccumulatedDepreciation" name="CapitalLeasedAssetsAccumulatedDepreciation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" name="CapitalLeasedAssetsBuildingsandBuildingImprovements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_CapitalLeasedAssetsLand" name="CapitalLeasedAssetsLand" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_CapitalLeasedAssetsLandImprovements" name="CapitalLeasedAssetsLandImprovements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_CapitalLeasedAssetsMachineryandEquipment" name="CapitalLeasedAssetsMachineryandEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_CapitalLeasedAssetsNet" name="CapitalLeasedAssetsNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ChangeinFairValueofContingentConsideration" name="ChangeinFairValueofContingentConsideration" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ClintonDitchAndReservoirCompanyMember" name="ClintonDitchAndReservoirCompanyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ColoradoWaterConservationBoardNoteOutstandingMember" name="ColoradoWaterConservationBoardNoteOutstandingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract" name="ComponentsofIncomeBeforeIncomeTaxesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ConcentrationOfCreditRiskPolicyTextBlock" name="ConcentrationOfCreditRiskPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ContingentConsiderationFairValueDisclosure" name="ContingentConsiderationFairValueDisclosure" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ContingentConsiderationKeyAssumptionsforValuation" name="ContingentConsiderationKeyAssumptionsforValuation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ContractBalancesAbstract" name="ContractBalancesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_CoststoObtainContractswithCustomersAbstract" name="CoststoObtainContractswithCustomersAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_DebtInstrumentByTrancheAxis" name="DebtInstrumentByTrancheAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DebtInstrumentThirdPartyCreditEnhancements" name="DebtInstrumentThirdPartyCreditEnhancements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_DebtInstrumentYearofMaturity" name="DebtInstrumentYearofMaturity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:gYearItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DebtServiceReserve" name="DebtServiceReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation" name="DeferredIncomeTaxAssetUnfavourableLeaseObligation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_DeferredTaxAssetCanyonsObligation" name="DeferredTaxAssetCanyonsObligation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_DeferredTaxAssetsOperatingLeaseLiabilities" name="DeferredTaxAssetsOperatingLeaseLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_DefinedContributionPlanEmployeeContributionPercentage" name="DefinedContributionPlanEmployeeContributionPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DefinedContributionPlanEmployerContributionPercentage" name="DefinedContributionPlanEmployerContributionPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths" name="DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours" name="DefinedContributionPlanIndividualRequisiteServicePeriodInHours" nillable="true" substitutionGroup="xbrli:item" type="xbrli:positiveIntegerItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours" name="DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours" nillable="true" substitutionGroup="xbrli:item" type="xbrli:positiveIntegerItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DescriptionofPercentageRent" name="DescriptionofPercentageRent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_DiningMember" name="DiningMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_DocumentAndEntityInformationAbstract" name="DocumentAndEntityInformationAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_EB5DevelopmentNotes1Member" name="EB5DevelopmentNotes1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_EB5DevelopmentNotes2Member" name="EB5DevelopmentNotes2Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_EB5DevelopmentNotesMember" name="EB5DevelopmentNotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_EPRAdditionalInterestRate" name="EPRAdditionalInterestRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_EPRSecuredNotesMember" name="EPRSecuredNotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_EarningBeforeInterestTaxesDepreciationAndAmortization" name="EarningBeforeInterestTaxesDepreciationAndAmortization" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_EmployeeHousingBondsMember" name="EmployeeHousingBondsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_EstimatedCessationDateOfCapitalImprovementFeePayments" name="EstimatedCessationDateOfCapitalImprovementFeePayments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:dateItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_EventofDefaultMember" name="EventofDefaultMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ExchangeableSharesMember" name="ExchangeableSharesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ExchangeableSharesParValuePerShare" name="ExchangeableSharesParValuePerShare" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ExchangeableSharesSharesIssued" name="ExchangeableSharesSharesIssued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ExchangeableSharesTransfer" name="ExchangeableSharesTransfer" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ExchangeableSharesValueIssued" name="ExchangeableSharesValueIssued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ExpectedToBeRecognizedInOneYearMember" name="ExpectedToBeRecognizedInOneYearMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ExtensionYear1Member" name="ExtensionYear1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ExtensionYear2Member" name="ExtensionYear2Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_FallsCreekMember" name="FallsCreekMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_FallsCreekandHothamMember" name="FallsCreekandHothamMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_FinancingCashOutflowsforFinanceLeases" name="FinancingCashOutflowsforFinanceLeases" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ForeignRefundablePayrollTaxCredits" name="ForeignRefundablePayrollTaxCredits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_GainOnSaleOfRealProperty" name="GainOnSaleOfRealProperty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_GolfMember" name="GolfMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_GoodwillAccumulatedAmortization" name="GoodwillAccumulatedAmortization" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_GrossIntangibleAssetsExcludingGoodwill" name="GrossIntangibleAssetsExcludingGoodwill" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_HollandCreekMetropolitanDistrictMember" name="HollandCreekMetropolitanDistrictMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_HothamMember" name="HothamMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_HunterMountainSecuredNoteMember" name="HunterMountainSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ImpactofTaxReformonRate" name="ImpactofTaxReformonRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization" name="IndefiniteLivedIntangibleAssetsAccumulatedAmortization" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" name="IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_IndefiniteLivedPropertyManagementContracts" name="IndefiniteLivedPropertyManagementContracts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_InitialCapitalLeaseTerm" name="InitialCapitalLeaseTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_InterestRateSwapNotionalAmount" name="InterestRateSwapNotionalAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_JackFrostBigBoulderSecuredNoteMember" name="JackFrostBigBoulderSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_KeystoneAndIntrawestLlcMember" name="KeystoneAndIntrawestLlcMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_LandAndLandImprovementsGross" name="LandAndLandImprovementsGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_LesseeOperatingAndFinanceLeaseTerm" name="LesseeOperatingAndFinanceLeaseTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_LiftTicketsMember" name="LiftTicketsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_LodgingExpensesNet" name="LodgingExpensesNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_LodgingMember" name="LodgingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_LodgingOperatingExpenseMember" name="LodgingOperatingExpenseMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_LodgingRevenueNet" name="LodgingRevenueNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" name="LodgingrevenueexcludingpayrollcostreimbursementsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ManagedcondominiumroomsMember" name="ManagedcondominiumroomsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_MinimumCapitalLeasePaymentAnnual" name="MinimumCapitalLeasePaymentAnnual" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_MountSnowSecuredNoteMember" name="MountSnowSecuredNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainEquityInvestmentIncomeLossNet" name="MountainEquityInvestmentIncomeLossNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainExpensesNet" name="MountainExpensesNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainMember" name="MountainMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainOperatingExpenseMember" name="MountainOperatingExpenseMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainRevenueNet" name="MountainRevenueNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainandLodgingcostofproductssold" name="MountainandLodgingcostofproductssold" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainandLodginggeneralandadministrativeexpense" name="MountainandLodginggeneralandadministrativeexpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainandLodgingoperatingexpenses" name="MountainandLodgingoperatingexpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainandLodgingretailanddiningrevenue" name="MountainandLodgingretailanddiningrevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_MountainandLodgingservicesandotherrevenue" name="MountainandLodgingservicesandotherrevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_Netoperatinglosscarryback" name="Netoperatinglosscarryback" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_NorthstarMember" name="NorthstarMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_NumberOfDirectors" name="NumberOfDirectors" nillable="true" substitutionGroup="xbrli:item" type="xbrli:positiveIntegerItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_NumberOfOptionalLeaseRenewalTerms" name="NumberOfOptionalLeaseRenewalTerms" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod" name="NumberOfRestrictedStockUnitsVestedDuringPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_OperatingCashOutflowsforFinanceLeases" name="OperatingCashOutflowsforFinanceLeases" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_OperatingCostsExpensesAndCostOfSales" name="OperatingCostsExpensesAndCostOfSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_OptionalLeaseRenewalTerm" name="OptionalLeaseRenewalTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_OtherDebtMember" name="OtherDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_OtherLodgingRevenueMember" name="OtherLodgingRevenueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_OtherLongTermLiabilitiesNoncurrent" name="OtherLongTermLiabilitiesNoncurrent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_OtherMountainRevenueMember" name="OtherMountainRevenueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_OtherOperatingExpensesAndIncomeAbstract" name="OtherOperatingExpensesAndIncomeAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_OwnedHotelRevenueMember" name="OwnedHotelRevenueMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_PayrollcostreimbursementsMember" name="PayrollcostreimbursementsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_PeakResortsInc.Member" name="PeakResortsInc.Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_PerisherMember" name="PerisherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract" name="PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_PrivateClubDeferredInitiationFeesAndDeposits" name="PrivateClubDeferredInitiationFeesAndDeposits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod" name="PrivateClubRecognizedInitiationFeesAverageRemainingPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:positiveIntegerItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ProFormaFinancialInformationLineItems" name="ProFormaFinancialInformationLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_ProFormaFinancialInformationTable" name="ProFormaFinancialInformationTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ProceedsfromWhistlerCreditAgreementrevolver" name="ProceedsfromWhistlerCreditAgreementrevolver" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract" name="PropertyPlantandEquipmentunderCapitalLeaseAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RealEstateCostofSales" name="RealEstateCostofSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RealEstateExpense" name="RealEstateExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RealEstateOperatingExpenseMember" name="RealEstateOperatingExpenseMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RealEstateRevenue" name="RealEstateRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RedSkyRanchMetropolitanDistrictMember" name="RedSkyRanchMetropolitanDistrictMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RepaymentsofTermLoan" name="RepaymentsofTermLoan" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RepaymentsofWhistlerCreditAgreementrevolver" name="RepaymentsofWhistlerCreditAgreementrevolver" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ResortExpensesNet" name="ResortExpensesNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ResortMember" name="ResortMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ResortRevenueNet" name="ResortRevenueNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RestrictedStockUnitsRsusMember" name="RestrictedStockUnitsRsusMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RetailRentalMember" name="RetailRentalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RetirementAndProfitSharingTextBlock" name="RetirementAndProfitSharingTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" name="RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_RightToAppointNumberOfDirectors" name="RightToAppointNumberOfDirectors" nillable="true" substitutionGroup="xbrli:item" type="xbrli:positiveIntegerItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_Rightofuseassetadjustments" name="Rightofuseassetadjustments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock" name="ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock" name="ScheduleOfOtherLongTermLiabilitiesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock" name="ScheduleofFutureMinimumLeasePaymentsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_SeasonPassCreditDeferralCosts" name="SeasonPassCreditDeferralCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_SeasonPassCreditDeferralRevenue" name="SeasonPassCreditDeferralRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" name="ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" name="ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" name="ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod" name="ShareBasedCompensationArrangementSarsForfeitedInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod" name="ShareBasedCompensationArrangementSarsGrantedInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod" name="ShareBasedCompensationArrangementSarsGrantsInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsVestedInPeriod" name="ShareBasedCompensationArrangementSarsVestedInPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" name="ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_SkiSchoolMember" name="SkiSchoolMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" name="SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" name="SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_StampDutyExpense" name="StampDutyExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_StatementofComprehensiveIncomeParentheticalAbstract" name="StatementofComprehensiveIncomeParentheticalAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_StevensPassMember" name="StevensPassMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" name="StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" name="StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant" />
  <xsd:element id="mtn_SuretyBondsOutstanding" name="SuretyBondsOutstanding" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mtn_TarnesMember" name="TarnesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_TenderfootMember" name="TenderfootMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_TermLoanHedgedPortionMember" name="TermLoanHedgedPortionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_TermLoanMember" name="TermLoanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_TermLoanUnhedgedPortionMember" name="TermLoanUnhedgedPortionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_TotalVailResortsIncStockholdersEquityMember" name="TotalVailResortsIncStockholdersEquityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_TrancheBMember" name="TrancheBMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_TrancheOfDebtDomain" name="TrancheOfDebtDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_TrancheaMember" name="TrancheaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_TransportationMember" name="TransportationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_TriplePeaksLLCMember" name="TriplePeaksLLCMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_USRefundablePayrollTaxCredits" name="USRefundablePayrollTaxCredits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_UnfavorableLeaseObligationNet" name="UnfavorableLeaseObligationNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="mtn_UnrecognizedCompensationExpenseAxis" name="UnrecognizedCompensationExpenseAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_UnrecognizedCompensationExpenseDomain" name="UnrecognizedCompensationExpenseDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" name="VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity" name="VHICreditAgreementWaiverPeriodMinimumLiquidity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" name="VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" name="VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" name="VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" name="VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mtn_VehiclesGross" name="VehiclesGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mtn_WeightedAverageNumberofSharesOutstandingCommon" name="WeightedAverageNumberofSharesOutstandingCommon" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_WeightedAverageNumberofSharesOutstandingExchangeable" name="WeightedAverageNumberofSharesOutstandingExchangeable" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock" name="WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mtn_WhistlerCreditAgreementrevolverMember" name="WhistlerCreditAgreementrevolverMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" name="WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>10
<FILENAME>mtn-20200731_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.vailresorts.com/role/Acquisitions" xlink:href="mtn-20200731.xsd#Acquisitions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:href="mtn-20200731.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsTables" xlink:href="mtn-20200731.xsd#AcquisitionsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:href="mtn-20200731.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:href="mtn-20200731.xsd#ConsolidatedStatementOfComprehensiveIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:href="mtn-20200731.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurements" xlink:href="mtn-20200731.xsd#FairValueMeasurements" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:href="mtn-20200731.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:href="mtn-20200731.xsd#FairValueMeasurementsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxes" xlink:href="mtn-20200731.xsd#IncomeTaxes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:href="mtn-20200731.xsd#IncomeTaxesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliates" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesDetails" xlink:href="mtn-20200731.xsd#LeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesNotes" xlink:href="mtn-20200731.xsd#LeasesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesTables" xlink:href="mtn-20200731.xsd#LeasesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebt" xlink:href="mtn-20200731.xsd#LongTermDebt" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtTables" xlink:href="mtn-20200731.xsd#LongTermDebtTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShare" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:href="mtn-20200731.xsd#OrganizationAndBusiness" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:href="mtn-20200731.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:href="mtn-20200731.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlans" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:href="mtn-20200731.xsd#RevenuesContractBalancesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:href="mtn-20200731.xsd#RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesDetails" xlink:href="mtn-20200731.xsd#RevenuesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesNotes" xlink:href="mtn-20200731.xsd#RevenuesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesTables" xlink:href="mtn-20200731.xsd#RevenuesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformation" xlink:href="mtn-20200731.xsd#SegmentInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationGeographicInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationTables" xlink:href="mtn-20200731.xsd#SegmentInformationTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialData" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlan" xlink:href="mtn-20200731.xsd#StockCompensationPlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:href="mtn-20200731.xsd#StockCompensationPlanTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:href="mtn-20200731.xsd#StockRepurchasePlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:href="mtn-20200731.xsd#StockRepurchasePlanDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationTables" xlink:type="simple" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/Acquisitions" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_a747198c-fc61-a8e9-cee5-5d5db378e93d" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_f2452ccb-64ae-35ba-3880-5d5db26b0810" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_CapitalLeasedAssetsNet_a747198c-fc61-a8e9-cee5-5d5db378e93d" xlink:to="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_f2452ccb-64ae-35ba-3880-5d5db26b0810" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_CapitalLeasedAssetsNet_a747198c-fc61-a8e9-cee5-5d5db378e93d" xlink:to="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_b55b64de-9c84-1548-cc52-5d5db174990f" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:to="loc_mtn_CapitalLeasedAssetsLand_b55b64de-9c84-1548-cc52-5d5db174990f" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_1645ec09-ad4f-1efa-3a39-5d5db2e3a6f0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:to="loc_mtn_CapitalLeasedAssetsLandImprovements_1645ec09-ad4f-1efa-3a39-5d5db2e3a6f0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_f008d771-f22f-e36f-f2a1-5d5db3955434" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:to="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_f008d771-f22f-e36f-f2a1-5d5db3955434" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_1e217036-b090-ed84-2751-5d5db27489ad" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_29a1d9a6-60ee-446a-1291-235c7e43d0b8" xlink:to="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_1e217036-b090-ed84-2751-5d5db27489ad" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_26247a2d-7bac-8834-3dc5-06c993b10b2c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_26247a2d-7bac-8834-3dc5-06c993b10b2c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_cef6660b-c794-36bf-f0bc-fd40d313c77f" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_cef6660b-c794-36bf-f0bc-fd40d313c77f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_2107189c-f25f-5667-a3b4-dbf4394a5e32" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_2107189c-f25f-5667-a3b4-dbf4394a5e32" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_us-gaap_InventoryNet_aa7cc103-d668-cf3b-6875-81c99ffeac19" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:to="loc_us-gaap_InventoryNet_aa7cc103-d668-cf3b-6875-81c99ffeac19" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_us-gaap_OtherAssetsCurrent_be6829f0-538a-891f-48bc-46140655594e" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_bceb5e86-dcaf-e940-c004-d20dda9b81f2" xlink:to="loc_us-gaap_OtherAssetsCurrent_be6829f0-538a-891f-48bc-46140655594e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_bf545d72-755b-f46c-4176-2eeaac0328d1" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_bf545d72-755b-f46c-4176-2eeaac0328d1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryRealEstate" xlink:label="loc_us-gaap_InventoryRealEstate_eeea4655-00ad-2ca0-5427-5d47bb0eed02" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_InventoryRealEstate_eeea4655-00ad-2ca0-5427-5d47bb0eed02" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_17a41c51-6fe7-c037-64c3-3ef6c9692a94" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_17a41c51-6fe7-c037-64c3-3ef6c9692a94" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a63bfe00-8c71-75eb-c989-1230f0c1a19e" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a63bfe00-8c71-75eb-c989-1230f0c1a19e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_fe7a6688-63e6-c3a8-34a9-6a59f12ca16e" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_d88b9019-0bd3-d7de-96eb-5cd69c504c2c" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_fe7a6688-63e6-c3a8-34a9-6a59f12ca16e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:to="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:to="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="loc_us-gaap_AccruedIncomeTaxesCurrent_0b15a280-646f-6bd5-2e9d-a4e71ea429af" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:to="loc_us-gaap_AccruedIncomeTaxesCurrent_0b15a280-646f-6bd5-2e9d-a4e71ea429af" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_c8e34a68-78cf-1f0f-d260-cfd03835a0ac" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_c8e34a68-78cf-1f0f-d260-cfd03835a0ac" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_18cd02df-c342-1135-80a4-128981b71541" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_18cd02df-c342-1135-80a4-128981b71541" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_7098604a-0754-f0ec-28b7-b5aa73ca65d5" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_7098604a-0754-f0ec-28b7-b5aa73ca65d5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:to="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_e498812a-ea06-2933-72f6-8e959ed1c719" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_a0e4a1b3-b018-392a-9b7d-09729b37d6a1" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_e498812a-ea06-2933-72f6-8e959ed1c719" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_us-gaap_LiabilitiesCurrent_723c74a6-b3c0-ab21-b11a-8bd4ce4806f0" xlink:type="arc" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_18cd02df-c342-1135-80a4-128981b71541" xlink:type="arc" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac757736-b2b3-41b4-5596-13d65c8f73d5" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac757736-b2b3-41b4-5596-13d65c8f73d5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac757736-b2b3-41b4-5596-13d65c8f73d5" xlink:to="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue_844e7c43-dfe0-790d-4f5e-8b1150390e12" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_PreferredStockValue_844e7c43-dfe0-790d-4f5e-8b1150390e12" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_130b8997-2f7a-8192-a853-ff9fb4629d95" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_CommonStockValue_130b8997-2f7a-8192-a853-ff9fb4629d95" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_3f755bf1-b6ef-82fa-3641-aa65146754d7" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_AdditionalPaidInCapitalCommonStock_3f755bf1-b6ef-82fa-3641-aa65146754d7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_355fc088-038d-3905-0784-91db0d020a77" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_355fc088-038d-3905-0784-91db0d020a77" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_18ff0284-4873-6ef0-806f-4fb76051c01f" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_18ff0284-4873-6ef0-806f-4fb76051c01f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_af531fdd-0099-f49a-729d-64bccce3d7cd" xlink:type="locator" />
    <link:calculationArc order="6" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_us-gaap_TreasuryStockValue_af531fdd-0099-f49a-729d-64bccce3d7cd" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesValueIssued" xlink:label="loc_mtn_ExchangeableSharesValueIssued_387a01b2-05ee-a839-caa8-5d5db3bd47bc" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_444cfce6-fc59-0d4d-1ade-0fdec3499b08" xlink:to="loc_mtn_ExchangeableSharesValueIssued_387a01b2-05ee-a839-caa8-5d5db3bd47bc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_02ec7b38-4afa-636c-3b62-de1bd1bf96c1" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac757736-b2b3-41b4-5596-13d65c8f73d5" xlink:to="loc_us-gaap_MinorityInterest_02ec7b38-4afa-636c-3b62-de1bd1bf96c1" xlink:type="arc" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_7098604a-0754-f0ec-28b7-b5aa73ca65d5" xlink:type="arc" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_ae7d1998-6654-2677-8e9f-f36b62210000" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_e498812a-ea06-2933-72f6-8e959ed1c719" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_61cff5eb-6380-0a99-0b9f-2aa494c88658" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_b648d0ef-16fe-7d60-a025-6e0cc8ac751c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_61cff5eb-6380-0a99-0b9f-2aa494c88658" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_b648d0ef-16fe-7d60-a025-6e0cc8ac751c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_b648d0ef-16fe-7d60-a025-6e0cc8ac751c" xlink:to="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_d954d1a3-69c6-9ed8-87ac-70ab0eca24d0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_b648d0ef-16fe-7d60-a025-6e0cc8ac751c" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_d954d1a3-69c6-9ed8-87ac-70ab0eca24d0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_e55eefe6-5e5b-0784-9307-66b84f5bea19" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_b648d0ef-16fe-7d60-a025-6e0cc8ac751c" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_e55eefe6-5e5b-0784-9307-66b84f5bea19" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_8d46be56-f4eb-8e22-ebfd-f7827a406c06" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_61cff5eb-6380-0a99-0b9f-2aa494c88658" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_8d46be56-f4eb-8e22-ebfd-f7827a406c06" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_7e98a0be-51ae-18d0-54bf-b32eca8c5c1d" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_7e98a0be-51ae-18d0-54bf-b32eca8c5c1d" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_85606f35-512d-87bf-8e37-0924416c5c8a" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_AssetImpairmentCharges_85606f35-512d-87bf-8e37-0924416c5c8a" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateCostofSales" xlink:label="loc_mtn_RealEstateCostofSales_f1d027b9-3050-ae9c-161a-5d5db2423901" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_mtn_RealEstateCostofSales_f1d027b9-3050-ae9c-161a-5d5db2423901" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_2961c1aa-3218-339c-6619-2d8917f5c93d" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_DepreciationAndAmortization_2961c1aa-3218-339c-6619-2d8917f5c93d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_8e70545b-e41a-5c88-3aeb-15f273c05266" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_ShareBasedCompensation_8e70545b-e41a-5c88-3aeb-15f273c05266" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_f528a3c8-8606-d5a8-6b9f-26bce91c0f30" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_AccretionExpense_f528a3c8-8606-d5a8-6b9f-26bce91c0f30" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_7c6abf55-3924-72ea-33b8-5d5db2262dc2" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_7c6abf55-3924-72ea-33b8-5d5db2262dc2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_09bf80ef-759c-d197-8541-5d5db153c3fb" xlink:type="locator" />
    <link:calculationArc order="9" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_mtn_GainOnSaleOfRealProperty_09bf80ef-759c-d197-8541-5d5db153c3fb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_db1ebd38-aa6d-5af7-743b-bd61e9637a33" xlink:type="locator" />
    <link:calculationArc order="10" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_db1ebd38-aa6d-5af7-743b-bd61e9637a33" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="loc_us-gaap_OtherNoncashIncome_9058c26a-d086-788b-a2fb-27f39d9dc8b9" xlink:type="locator" />
    <link:calculationArc order="11" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_OtherNoncashIncome_9058c26a-d086-788b-a2fb-27f39d9dc8b9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_753ca67e-e0b1-89f6-0f4c-664d01a2b0f7" xlink:type="locator" />
    <link:calculationArc order="12" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_753ca67e-e0b1-89f6-0f4c-664d01a2b0f7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_660d037d-5031-2fde-c0d3-d2b6978292ac" xlink:type="locator" />
    <link:calculationArc order="13" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInInventories_660d037d-5031-2fde-c0d3-d2b6978292ac" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_5dd5b086-49e7-fe47-c325-776c1b6828fe" xlink:type="locator" />
    <link:calculationArc order="14" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_5dd5b086-49e7-fe47-c325-776c1b6828fe" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_f11af425-7829-3599-a57a-2c18f71fcc6e" xlink:type="locator" />
    <link:calculationArc order="15" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_f11af425-7829-3599-a57a-2c18f71fcc6e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" xlink:label="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9dadddaf-0c03-e674-60f5-80841ce09301" xlink:type="locator" />
    <link:calculationArc order="16" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9dadddaf-0c03-e674-60f5-80841ce09301" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_aff0d730-1c4a-bdf8-50f5-49065c1c5889" xlink:type="locator" />
    <link:calculationArc order="17" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_aff0d730-1c4a-bdf8-50f5-49065c1c5889" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_4392a9aa-12d6-0a02-3bb4-a001e4753188" xlink:type="locator" />
    <link:calculationArc order="18" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_13d5d34e-e391-ca89-d84d-71b1e1c2a78c" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_4392a9aa-12d6-0a02-3bb4-a001e4753188" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2794b8a8-762d-d243-a2f5-a00d52d74432" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_7e98a0be-51ae-18d0-54bf-b32eca8c5c1d" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2794b8a8-762d-d243-a2f5-a00d52d74432" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_6bd3d51b-6815-5e7e-fa0a-75d15223b22c" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2794b8a8-762d-d243-a2f5-a00d52d74432" xlink:to="loc_us-gaap_PaymentsToAcquireProductiveAssets_6bd3d51b-6815-5e7e-fa0a-75d15223b22c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_c7e64fd7-0b56-e309-1408-1e90657554b0" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2794b8a8-762d-d243-a2f5-a00d52d74432" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_c7e64fd7-0b56-e309-1408-1e90657554b0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_e33e3b56-416a-9757-52a3-44ee94cae9bf" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_2794b8a8-762d-d243-a2f5-a00d52d74432" xlink:to="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_e33e3b56-416a-9757-52a3-44ee94cae9bf" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_7e98a0be-51ae-18d0-54bf-b32eca8c5c1d" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:label="loc_us-gaap_ProceedsFromNotesPayable_b545f23f-bf59-d4ef-c917-eb5b8df27e85" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_ProceedsFromNotesPayable_b545f23f-bf59-d4ef-c917-eb5b8df27e85" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_5438f733-2c2e-cb8b-518a-eb0b0108364e" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_5438f733-2c2e-cb8b-518a-eb0b0108364e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_4b42fefa-cb55-53fa-a0d9-417928a55a98" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_ProceedsFromLinesOfCredit_4b42fefa-cb55-53fa-a0d9-417928a55a98" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProceedsfromWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_b17ae1bb-970b-0f9a-2220-5d5db13ad569" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_b17ae1bb-970b-0f9a-2220-5d5db13ad569" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_70041f7f-16db-a80d-3477-5d5db0fb9094" xlink:type="locator" />
    <link:calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_70041f7f-16db-a80d-3477-5d5db0fb9094" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofTermLoan" xlink:label="loc_mtn_RepaymentsofTermLoan_0c641024-c6a5-6c65-b670-5d5db268c66d" xlink:type="locator" />
    <link:calculationArc order="6" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_mtn_RepaymentsofTermLoan_0c641024-c6a5-6c65-b670-5d5db268c66d" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_6af9b322-bd28-b53c-6ab5-52bafd228259" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_6af9b322-bd28-b53c-6ab5-52bafd228259" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_17a4f643-13f7-97f5-0c15-ee712bbc980c" xlink:type="locator" />
    <link:calculationArc order="8" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_PaymentsOfDividends_17a4f643-13f7-97f5-0c15-ee712bbc980c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_1280953b-4e55-e1d6-0c4b-6dfd4307a698" xlink:type="locator" />
    <link:calculationArc order="9" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_0a7e00ec-a1a5-81e8-5255-8844ac6fe87f" xlink:to="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_1280953b-4e55-e1d6-0c4b-6dfd4307a698" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_c3fb4920-0b72-7fd0-429d-d910e936dd99" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_7e98a0be-51ae-18d0-54bf-b32eca8c5c1d" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_c3fb4920-0b72-7fd0-429d-d910e936dd99" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_aaf4fade-f652-62f8-cf02-c59447905641" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_aaf4fade-f652-62f8-cf02-c59447905641" xlink:to="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:to="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingretailanddiningrevenue" xlink:label="loc_mtn_MountainandLodgingretailanddiningrevenue_c10cbf87-aad3-bd8d-18c4-5d5db37fed70" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:to="loc_mtn_MountainandLodgingretailanddiningrevenue_c10cbf87-aad3-bd8d-18c4-5d5db37fed70" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingservicesandotherrevenue" xlink:label="loc_mtn_MountainandLodgingservicesandotherrevenue_101d2313-d46f-8bb3-1fa2-5d5db1930a56" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:to="loc_mtn_MountainandLodgingservicesandotherrevenue_101d2313-d46f-8bb3-1fa2-5d5db1930a56" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_7652e4e4-dd7a-38b7-716f-5d5db2944f21" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:to="loc_mtn_RealEstateRevenue_7652e4e4-dd7a-38b7-716f-5d5db2944f21" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_9220fa26-5a04-3784-b4b2-5d5db250f0d2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_RealEstateExpense_9220fa26-5a04-3784-b4b2-5d5db250f0d2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodginggeneralandadministrativeexpense" xlink:label="loc_mtn_MountainandLodginggeneralandadministrativeexpense_d1da1eba-3e43-7f0b-cbb3-5d5db104de72" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_MountainandLodginggeneralandadministrativeexpense_d1da1eba-3e43-7f0b-cbb3-5d5db104de72" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingoperatingexpenses" xlink:label="loc_mtn_MountainandLodgingoperatingexpenses_a5dd30eb-c507-62ad-69d3-5d5db1345d49" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_MountainandLodgingoperatingexpenses_a5dd30eb-c507-62ad-69d3-5d5db1345d49" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingcostofproductssold" xlink:label="loc_mtn_MountainandLodgingcostofproductssold_ae614e9f-8066-fc20-141b-5d5db1106a05" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_MountainandLodgingcostofproductssold_ae614e9f-8066-fc20-141b-5d5db1106a05" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_2961c1aa-3218-339c-6619-2d8917f5c93d" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_us-gaap_DepreciationAndAmortization_2961c1aa-3218-339c-6619-2d8917f5c93d" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_7c6abf55-3924-72ea-33b8-5d5db2262dc2" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_7c6abf55-3924-72ea-33b8-5d5db2262dc2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_2e1496ac-149c-0be7-633a-66d361065320" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_us-gaap_GainLossOnDispositionOfAssets_2e1496ac-149c-0be7-633a-66d361065320" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_09bf80ef-759c-d197-8541-5d5db153c3fb" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_mtn_GainOnSaleOfRealProperty_09bf80ef-759c-d197-8541-5d5db153c3fb" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_85606f35-512d-87bf-8e37-0924416c5c8a" xlink:type="locator" />
    <link:calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_86cfb7da-c050-ac7c-919e-7f811affb4ae" xlink:to="loc_us-gaap_AssetImpairmentCharges_85606f35-512d-87bf-8e37-0924416c5c8a" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainEquityInvestmentIncomeLossNet" xlink:label="loc_mtn_MountainEquityInvestmentIncomeLossNet_0e8837f9-2ecd-10ec-7ea1-5d5db32a5401" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:to="loc_mtn_MountainEquityInvestmentIncomeLossNet_0e8837f9-2ecd-10ec-7ea1-5d5db32a5401" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_b70f4f9b-2100-3b9a-22a9-d96a466186ed" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:to="loc_us-gaap_InvestmentIncomeInterest_b70f4f9b-2100-3b9a-22a9-d96a466186ed" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_70961961-6a13-30f4-732a-8e29cef0bea0" xlink:type="locator" />
    <link:calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:to="loc_us-gaap_InterestExpense_70961961-6a13-30f4-732a-8e29cef0bea0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_db1ebd38-aa6d-5af7-743b-bd61e9637a33" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_326571dd-2089-b65a-821d-3163d8518a05" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_db1ebd38-aa6d-5af7-743b-bd61e9637a33" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_6a75c878-dfaf-e368-936e-ce293fe86f6f" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_82a1dba8-8b5a-130a-edce-afbb0d3a199c" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_6a75c878-dfaf-e368-936e-ce293fe86f6f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_63bbe84c-b938-87b9-5103-68b80738d584" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_aaf4fade-f652-62f8-cf02-c59447905641" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_63bbe84c-b938-87b9-5103-68b80738d584" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurements" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxes" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_a424eec6-2004-55ec-732e-55fca0e0a962" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_a424eec6-2004-55ec-732e-55fca0e0a962" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_c558940c-ff18-41c4-17b2-07f5d911d8ed" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_c558940c-ff18-41c4-17b2-07f5d911d8ed" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_45ccccd3-3ef1-df55-31bd-56a74a51aeed" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOther_45ccccd3-3ef1-df55-31bd-56a74a51aeed" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesLeasingArrangements" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_ea859af1-c13e-2e63-7b31-fe3bcf00a6dc" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_21ae8ad8-f66d-202f-9d71-5681f4f2b7ef" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_ea859af1-c13e-2e63-7b31-fe3bcf00a6dc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_1e1d56b4-3bdf-2fac-470b-de317df367a4" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_1e1d56b4-3bdf-2fac-470b-de317df367a4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_1e1d56b4-3bdf-2fac-470b-de317df367a4" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetsOperatingLeaseLiabilities" xlink:label="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_920958747D596B8A949980C775C2B146" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_920958747D596B8A949980C775C2B146" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_5e9d5f9f-1caf-4154-2abb-b30812ff970e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_5e9d5f9f-1caf-4154-2abb-b30812ff970e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_b32ccec1-e10f-5443-f548-f91db5c2f930" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_b32ccec1-e10f-5443-f548-f91db5c2f930" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation" xlink:label="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_bd13c16e-3d3c-9d61-a878-5d5db3a1bb6b" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_bd13c16e-3d3c-9d61-a878-5d5db3a1bb6b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_d02f7918-0071-977a-2ae5-06d56271d333" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_d02f7918-0071-977a-2ae5-06d56271d333" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_ab30b1c3-0732-1175-5d2a-89d3c944de53" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_ab30b1c3-0732-1175-5d2a-89d3c944de53" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetCanyonsObligation" xlink:label="loc_mtn_DeferredTaxAssetCanyonsObligation_aff48860-4c61-062a-bd93-5d5db1ed2355" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_mtn_DeferredTaxAssetCanyonsObligation_aff48860-4c61-062a-bd93-5d5db1ed2355" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsInvestments" xlink:label="loc_us-gaap_DeferredTaxAssetsInvestments_6040a9d4-222e-06b5-d73b-d9d2ea6f32b3" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsInvestments_6040a9d4-222e-06b5-d73b-d9d2ea6f32b3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_42315e2d-34ae-9024-e018-0c1d9600fcbc" xlink:type="locator" />
    <link:calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_7e41d511-b24a-32b9-b40b-50e97bc073c8" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_42315e2d-34ae-9024-e018-0c1d9600fcbc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_ddb893c9-1cf8-2a42-9640-0f52c0535a5f" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_1e1d56b4-3bdf-2fac-470b-de317df367a4" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_ddb893c9-1cf8-2a42-9640-0f52c0535a5f" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_6a75c878-dfaf-e368-936e-ce293fe86f6f" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_e64ce807-b602-bc51-7ea1-c0d1711761a2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_6a75c878-dfaf-e368-936e-ce293fe86f6f" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_e64ce807-b602-bc51-7ea1-c0d1711761a2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_1a6d40f3-7f00-0153-1ee4-4e2445fbaeef" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_e64ce807-b602-bc51-7ea1-c0d1711761a2" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_1a6d40f3-7f00-0153-1ee4-4e2445fbaeef" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_43dfa6b1-2e6b-dd2e-63a9-d4afa4720eb3" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_e64ce807-b602-bc51-7ea1-c0d1711761a2" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_43dfa6b1-2e6b-dd2e-63a9-d4afa4720eb3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_fdac4e70-772b-30b7-3f72-25bbd5a5cb16" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_e64ce807-b602-bc51-7ea1-c0d1711761a2" xlink:to="loc_us-gaap_CurrentForeignTaxExpenseBenefit_fdac4e70-772b-30b7-3f72-25bbd5a5cb16" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_6a75c878-dfaf-e368-936e-ce293fe86f6f" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_26aba821-ee13-ac43-8c55-58ad3425d5df" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_26aba821-ee13-ac43-8c55-58ad3425d5df" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_b9f6e110-c74a-c0ab-a0d7-5b9e884703dc" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_b9f6e110-c74a-c0ab-a0d7-5b9e884703dc" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_19b176a6-0274-96d9-c4cb-ed631a679351" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_282d8de6-1466-4351-6593-66c6a3dfd2f5" xlink:to="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_19b176a6-0274-96d9-c4cb-ed631a679351" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_657ba5b9-6efd-7796-881d-42495ee333b2" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_657ba5b9-6efd-7796-881d-42495ee333b2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_e498812a-ea06-2933-72f6-8e959ed1c719" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxLiabilities_aaf42fc7-a6ad-75e4-2d48-6e59cc297b47" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_e498812a-ea06-2933-72f6-8e959ed1c719" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_88432fd7-7b7a-9b90-1335-815c18b74343" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_88432fd7-7b7a-9b90-1335-815c18b74343" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_47023b39-ec79-3ba9-fb53-521ae5f47554" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_47023b39-ec79-3ba9-fb53-521ae5f47554" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_71fb33d2-2460-9d08-f9b5-fbc0db404a4c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_71fb33d2-2460-9d08-f9b5-fbc0db404a4c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_ec89a76d-6f94-3882-5908-bc13d198d223" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_ec89a76d-6f94-3882-5908-bc13d198d223" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_3836d6ac-160d-4643-f029-c0b871fab12c" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_3836d6ac-160d-4643-f029-c0b871fab12c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_d4bd6cb1-4348-69b2-c613-e89f35f1df8f" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_d4bd6cb1-4348-69b2-c613-e89f35f1df8f" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_80029408-041e-c415-c740-086534683585" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_80029408-041e-c415-c740-086534683585" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ImpactofTaxReformonRate" xlink:label="loc_mtn_ImpactofTaxReformonRate_81763b2f-a227-fd9f-c51a-5d5db1a2230e" xlink:type="locator" />
    <link:calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_mtn_ImpactofTaxReformonRate_81763b2f-a227-fd9f-c51a-5d5db1a2230e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_87572995-33e3-5fe6-6f9b-bec8624997b0" xlink:type="locator" />
    <link:calculationArc order="9" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_93fd3edf-6334-eee5-46a3-8cd2bed4e1cb" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_87572995-33e3-5fe6-6f9b-bec8624997b0" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LeasesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LeasesNotes" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LeasesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LongTermDebt" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_3277d04c-55b4-8a89-a6de-301442f4acca" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_3277d04c-55b4-8a89-a6de-301442f4acca" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_48f78b57-30c2-4d9a-4535-7f0247d4e88b" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_48f78b57-30c2-4d9a-4535-7f0247d4e88b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_91008497-443b-6784-b2be-807d7f0e4594" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_91008497-443b-6784-b2be-807d7f0e4594" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_8c7ff218-21c3-fe49-feff-26d9c5f62fc0" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_8c7ff218-21c3-fe49-feff-26d9c5f62fc0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_6751af82-9c67-ff0a-0222-bc23a551c471" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_6751af82-9c67-ff0a-0222-bc23a551c471" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_037ce1e1-bf34-7d9f-964d-e1eb24c269e0" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LongTermDebt_95efea61-67de-e4d2-2a62-71c1dca5646f" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_037ce1e1-bf34-7d9f-964d-e1eb24c269e0" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_3b4f95d0-4de5-2b2f-e2ec-91daf63ca50c" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_f60858b4-cb31-daa2-3699-140a0e3df912" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_3b4f95d0-4de5-2b2f-e2ec-91daf63ca50c" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_f60858b4-cb31-daa2-3699-140a0e3df912" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_7595492d-e98c-ec24-3583-0c7237508f48" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_3b4f95d0-4de5-2b2f-e2ec-91daf63ca50c" xlink:to="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_7595492d-e98c-ec24-3583-0c7237508f48" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RevenuesDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RevenuesNotes" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/RevenuesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SegmentInformation" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_9220fa26-5a04-3784-b4b2-5d5db250f0d2" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_RealEstateExpense_9220fa26-5a04-3784-b4b2-5d5db250f0d2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_ba34121c-ed08-b801-eb36-5d5db20d6939" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_ed1c7add-29b6-793c-93cb-5d5db455e4f5" xlink:to="loc_mtn_ResortExpensesNet_ba34121c-ed08-b801-eb36-5d5db20d6939" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingExpensesNet" xlink:label="loc_mtn_LodgingExpensesNet_af8ccdce-ff50-1153-d1e9-5d5db20974f9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_ResortExpensesNet_ba34121c-ed08-b801-eb36-5d5db20d6939" xlink:to="loc_mtn_LodgingExpensesNet_af8ccdce-ff50-1153-d1e9-5d5db20974f9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainExpensesNet" xlink:label="loc_mtn_MountainExpensesNet_b5f51239-7559-3111-7cc9-5d5db233a879" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_ResortExpensesNet_ba34121c-ed08-b801-eb36-5d5db20d6939" xlink:to="loc_mtn_MountainExpensesNet_b5f51239-7559-3111-7cc9-5d5db233a879" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_edfcb59c-6ee8-0c87-b14a-5d5db231211e" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:to="loc_mtn_ResortRevenueNet_edfcb59c-6ee8-0c87-b14a-5d5db231211e" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_26a5ecdb-3521-eda4-9bc7-5d5db38bf843" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_ResortRevenueNet_edfcb59c-6ee8-0c87-b14a-5d5db231211e" xlink:to="loc_mtn_MountainRevenueNet_26a5ecdb-3521-eda4-9bc7-5d5db38bf843" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_e04b7310-537e-708c-8566-5d5db211128a" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_ResortRevenueNet_edfcb59c-6ee8-0c87-b14a-5d5db231211e" xlink:to="loc_mtn_LodgingRevenueNet_e04b7310-537e-708c-8566-5d5db211128a" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_7652e4e4-dd7a-38b7-716f-5d5db2944f21" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_0bbe8f4f-d085-9302-fa93-9512411ebfc0" xlink:to="loc_mtn_RealEstateRevenue_7652e4e4-dd7a-38b7-716f-5d5db2944f21" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlan" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_461731f1-f16c-768e-f502-b8efa13b6ad1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_c631381c-9837-906f-d619-8626ff29893b" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_461731f1-f16c-768e-f502-b8efa13b6ad1" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_c631381c-9837-906f-d619-8626ff29893b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_28028e74-183a-092a-fc52-fbc89fccbe7a" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_461731f1-f16c-768e-f502-b8efa13b6ad1" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_28028e74-183a-092a-fc52-fbc89fccbe7a" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableTradeCurrent" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_c8802c8e-bc6c-3f5c-d555-14f8251983c7" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_AccountsPayableTradeCurrent_c8802c8e-bc6c-3f5c-d555-14f8251983c7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedEmployeeBenefitsCurrent" xlink:label="loc_us-gaap_AccruedEmployeeBenefitsCurrent_9746a712-2516-2b22-a7be-3a89f7517db6" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_AccruedEmployeeBenefitsCurrent_9746a712-2516-2b22-a7be-3a89f7517db6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="loc_us-gaap_AccruedSalariesCurrent_999bc126-4199-eaab-72ad-fa2bffc6a064" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_AccruedSalariesCurrent_999bc126-4199-eaab-72ad-fa2bffc6a064" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_us-gaap_DeferredRevenueCurrent_4b387cd4-207c-59da-a9d9-d83b6f7b0261" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_DeferredRevenueCurrent_4b387cd4-207c-59da-a9d9-d83b6f7b0261" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrent_13159f86-b20a-f641-5cfd-65a0553fc694" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_OtherAccruedLiabilitiesCurrent_13159f86-b20a-f641-5cfd-65a0553fc694" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits_aaff9b51-19ae-7943-974f-fbd297c05870" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_Deposits_aaff9b51-19ae-7943-974f-fbd297c05870" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_f5d89653-9412-3469-28ee-c3579ebc0767" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_805928b1-14c4-c587-bf12-5d5db281a07d" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_f5d89653-9412-3469-28ee-c3579ebc0767" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PrivateClubDeferredInitiationFeesAndDeposits" xlink:label="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_12ee2dfb-b9a4-996e-7526-5d5db42d5091" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:to="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_12ee2dfb-b9a4-996e-7526-5d5db42d5091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_44e41183-ff71-8a5d-6bae-236dd27ab6c0" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:to="loc_us-gaap_OtherLiabilitiesNoncurrent_44e41183-ff71-8a5d-6bae-236dd27ab6c0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnfavorableLeaseObligationNet" xlink:label="loc_mtn_UnfavorableLeaseObligationNet_e2a66eb2-cae9-465a-33ba-5d5db11e718c" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_OtherLongTermLiabilitiesNoncurrent_dfee3cd7-6988-6a42-1b7f-5d5db441fe31" xlink:to="loc_mtn_UnfavorableLeaseObligationNet_e2a66eb2-cae9-465a-33ba-5d5db11e718c" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_9f51d151-6d51-d71b-1a0b-5d5db3e9afc7" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_dbdba778-4684-25b5-9c31-40f70d32b8a5" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_9f51d151-6d51-d71b-1a0b-5d5db3e9afc7" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_dbdba778-4684-25b5-9c31-40f70d32b8a5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_748a9f1b-7da3-8463-6c30-5d5db1776c83" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_9f51d151-6d51-d71b-1a0b-5d5db3e9afc7" xlink:to="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_748a9f1b-7da3-8463-6c30-5d5db1776c83" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_c124af4a-c1a7-5bd7-f6b9-0a8199d145c1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_46346561-8cfb-ab6e-79bb-c44fc2165bf6" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_c124af4a-c1a7-5bd7-f6b9-0a8199d145c1" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_46346561-8cfb-ab6e-79bb-c44fc2165bf6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedTradeNamesGross" xlink:label="loc_us-gaap_FiniteLivedTradeNamesGross_a68d7c65-531f-49b3-f4b4-99b6d1406f0c" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross_46346561-8cfb-ab6e-79bb-c44fc2165bf6" xlink:to="loc_us-gaap_FiniteLivedTradeNamesGross_a68d7c65-531f-49b3-f4b4-99b6d1406f0c" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherFiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_97495705-54a9-9e21-0755-131ab25a705e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross_46346561-8cfb-ab6e-79bb-c44fc2165bf6" xlink:to="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_97495705-54a9-9e21-0755-131ab25a705e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_097cbdee-f90d-7331-468c-cf3193d6f1a6" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_c124af4a-c1a7-5bd7-f6b9-0a8199d145c1" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_097cbdee-f90d-7331-468c-cf3193d6f1a6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a63bfe00-8c71-75eb-c989-1230f0c1a19e" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GrossIntangibleAssetsExcludingGoodwill" xlink:label="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_b4a2893f-a089-1704-154a-5d5db10c08b9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a63bfe00-8c71-75eb-c989-1230f0c1a19e" xlink:to="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_b4a2893f-a089-1704-154a-5d5db10c08b9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccumulatedAmortizationExcludingGoodwill" xlink:label="loc_mtn_AccumulatedAmortizationExcludingGoodwill_3b5857fb-682f-6ff2-ff06-5d5db1a7ee78" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_a63bfe00-8c71-75eb-c989-1230f0c1a19e" xlink:to="loc_mtn_AccumulatedAmortizationExcludingGoodwill_3b5857fb-682f-6ff2-ff06-5d5db1a7ee78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillGross" xlink:label="loc_us-gaap_GoodwillGross_ccb0b8c5-cf2f-c901-e2fb-8292251574a1" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:to="loc_us-gaap_GoodwillGross_ccb0b8c5-cf2f-c901-e2fb-8292251574a1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GoodwillAccumulatedAmortization" xlink:label="loc_mtn_GoodwillAccumulatedAmortization_6271c831-366e-d836-419d-5d5db30eff52" xlink:type="locator" />
    <link:calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:to="loc_mtn_GoodwillAccumulatedAmortization_6271c831-366e-d836-419d-5d5db30eff52" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_1fc2afaf-1f45-2de0-767b-8d4aa2a90446" xlink:type="locator" />
    <link:calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Goodwill_57088d99-3f43-6bbf-c330-0bf0e1b35b0b" xlink:to="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_1fc2afaf-1f45-2de0-767b-8d4aa2a90446" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_bf545d72-755b-f46c-4176-2eeaac0328d1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_da8328db-6eed-8982-00a4-561b118e61c9" xlink:type="locator" />
    <link:calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_bf545d72-755b-f46c-4176-2eeaac0328d1" xlink:to="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_da8328db-6eed-8982-00a4-561b118e61c9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_bf545d72-755b-f46c-4176-2eeaac0328d1" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingsAndImprovementsGross" xlink:label="loc_us-gaap_BuildingsAndImprovementsGross_9420d1f8-7a5c-8173-3614-4b42fabe9de9" xlink:type="locator" />
    <link:calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_us-gaap_BuildingsAndImprovementsGross_9420d1f8-7a5c-8173-3614-4b42fabe9de9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedComputerSoftwareGross" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareGross_80d4c0bb-ecc8-16dd-79c5-80c96597ed27" xlink:type="locator" />
    <link:calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareGross_80d4c0bb-ecc8-16dd-79c5-80c96597ed27" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VehiclesGross" xlink:label="loc_mtn_VehiclesGross_b14797ae-6cd2-e91f-7ea5-5d5db37bc9c7" xlink:type="locator" />
    <link:calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_mtn_VehiclesGross_b14797ae-6cd2-e91f-7ea5-5d5db37bc9c7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressGross" xlink:label="loc_us-gaap_ConstructionInProgressGross_2cc9e9ab-6945-55a9-2b51-d35e95a78949" xlink:type="locator" />
    <link:calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_us-gaap_ConstructionInProgressGross_2cc9e9ab-6945-55a9-2b51-d35e95a78949" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="loc_us-gaap_FurnitureAndFixturesGross_dc0208e0-504e-5ad9-dff1-efca8713e92b" xlink:type="locator" />
    <link:calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_us-gaap_FurnitureAndFixturesGross_dc0208e0-504e-5ad9-dff1-efca8713e92b" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentGross" xlink:label="loc_us-gaap_MachineryAndEquipmentGross_477a8f1a-13ec-d0a7-e4de-70bd9ac773ff" xlink:type="locator" />
    <link:calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_us-gaap_MachineryAndEquipmentGross_477a8f1a-13ec-d0a7-e4de-70bd9ac773ff" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LandAndLandImprovementsGross" xlink:label="loc_mtn_LandAndLandImprovementsGross_5f834273-36e7-3fbd-6022-5d5db1bb17d7" xlink:type="locator" />
    <link:calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_0f02ac25-d0ba-9aaf-434b-6901724c980e" xlink:to="loc_mtn_LandAndLandImprovementsGross_5f834273-36e7-3fbd-6022-5d5db1bb17d7" xlink:type="arc" />
  </link:calculationLink>
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="extended" />
  <link:calculationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:type="extended" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>11
<FILENAME>mtn-20200731_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.vailresorts.com/role/Acquisitions" xlink:href="mtn-20200731.xsd#Acquisitions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:href="mtn-20200731.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsTables" xlink:href="mtn-20200731.xsd#AcquisitionsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:href="mtn-20200731.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:href="mtn-20200731.xsd#ConsolidatedStatementOfComprehensiveIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:href="mtn-20200731.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurements" xlink:href="mtn-20200731.xsd#FairValueMeasurements" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:href="mtn-20200731.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:href="mtn-20200731.xsd#FairValueMeasurementsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxes" xlink:href="mtn-20200731.xsd#IncomeTaxes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:href="mtn-20200731.xsd#IncomeTaxesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliates" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesDetails" xlink:href="mtn-20200731.xsd#LeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesNotes" xlink:href="mtn-20200731.xsd#LeasesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesTables" xlink:href="mtn-20200731.xsd#LeasesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebt" xlink:href="mtn-20200731.xsd#LongTermDebt" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtTables" xlink:href="mtn-20200731.xsd#LongTermDebtTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShare" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:href="mtn-20200731.xsd#OrganizationAndBusiness" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:href="mtn-20200731.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:href="mtn-20200731.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlans" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:href="mtn-20200731.xsd#RevenuesContractBalancesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:href="mtn-20200731.xsd#RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesDetails" xlink:href="mtn-20200731.xsd#RevenuesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesNotes" xlink:href="mtn-20200731.xsd#RevenuesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesTables" xlink:href="mtn-20200731.xsd#RevenuesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformation" xlink:href="mtn-20200731.xsd#SegmentInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationGeographicInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationTables" xlink:href="mtn-20200731.xsd#SegmentInformationTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialData" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlan" xlink:href="mtn-20200731.xsd#StockCompensationPlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:href="mtn-20200731.xsd#StockCompensationPlanTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:href="mtn-20200731.xsd#StockRepurchasePlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:href="mtn-20200731.xsd#StockRepurchasePlanDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationTables" xlink:type="simple" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" xlink:type="simple" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" xlink:type="simple" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" xlink:type="simple" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" xlink:type="simple" />
  <link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" xlink:type="simple" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/Acquisitions" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:to="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:to="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_6DE2C0E41BB2A5EF8B14A2E9754BCC38" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:to="loc_us-gaap_CommonStockMember_6DE2C0E41BB2A5EF8B14A2E9754BCC38" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_9840C7EDF99E9802F368A2E9754BB500" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:to="loc_mtn_ExchangeableSharesMember_9840C7EDF99E9802F368A2E9754BB500" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:to="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:to="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_EA4A313F2354E755EB45A2E9754E4A07" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:to="loc_mtn_CanyonsObligationMember_EA4A313F2354E755EB45A2E9754E4A07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_F6751CF670F3E2312809A2E9754FD784" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:to="loc_mtn_PeakResortsInc.Member_F6751CF670F3E2312809A2E9754FD784" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_D334729427AFF7CB5FF1A2E9754F14A0" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:to="loc_mtn_FallsCreekandHothamMember_D334729427AFF7CB5FF1A2E9754F14A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_483B8E13190569AD193FA2EBD67063DE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_483B8E13190569AD193FA2EBD67063DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_C90750FDA17B1CFDFC81A2E9754F30FE" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_C90750FDA17B1CFDFC81A2E9754F30FE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_D2D9920B0835D6E2B9D0A2E97550727E" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_D2D9920B0835D6E2B9D0A2E97550727E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" xlink:label="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InitialCapitalLeaseTerm" xlink:label="loc_mtn_InitialCapitalLeaseTerm_3154E3A5D4B98330CBE9A2E9755010CD" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_InitialCapitalLeaseTerm_3154E3A5D4B98330CBE9A2E9755010CD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_FCB9B057F82DA5B773F3A2E97551667C" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_FCB9B057F82DA5B773F3A2E97551667C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MinimumCapitalLeasePaymentAnnual" xlink:label="loc_mtn_MinimumCapitalLeasePaymentAnnual_F33425735FC4B8BB6B50A2E97551463C" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_MinimumCapitalLeasePaymentAnnual_F33425735FC4B8BB6B50A2E97551463C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AdjustmentsToCapitalLeaseAnnualPayments" xlink:label="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_3627ED346BA348A4ED9BA2E975512BE1" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_3627ED346BA348A4ED9BA2E975512BE1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_4D031C30B401B1596C0BA2E97552E59A" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_4D031C30B401B1596C0BA2E97552E59A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F90F40D4B4B7CD0600FAA2E9755244D9" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F90F40D4B4B7CD0600FAA2E9755244D9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AB8159339A8F472B89BA2E975521F0D" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AB8159339A8F472B89BA2E975521F0D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9356190DC9EB6A18B4A5A2E97553FD1F" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9356190DC9EB6A18B4A5A2E97553FD1F" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:to="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:to="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_7D7EB2F20BBD57833C989A5E3AFC8DCE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:to="loc_us-gaap_NoncontrollingInterestMember_7D7EB2F20BBD57833C989A5E3AFC8DCE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:to="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:to="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:to="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:to="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_51E64C8960D63CA30AB19A5E3AFD5F85" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:to="loc_mtn_MountainMember_51E64C8960D63CA30AB19A5E3AFD5F85" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_CBA97DDD09FD564A9F819A5E3AFEF196" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_PeakResortsInc.Member_CBA97DDD09FD564A9F819A5E3AFEF196" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_689D688344A0C66A85FB9A5E3AFEB3C2" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_FallsCreekandHothamMember_689D688344A0C66A85FB9A5E3AFEB3C2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_8732E549D631EBCA3CB89A5E3AFE7484" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_PerisherMember_8732E549D631EBCA3CB89A5E3AFE7484" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_AEA81BE6779DA28448919A5E3AFEC18D" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_CanyonsMember_AEA81BE6779DA28448919A5E3AFEC18D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StevensPassMember" xlink:label="loc_mtn_StevensPassMember_6E9CBB0C1C5618B477219A5E3AFF4C8F" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_StevensPassMember_6E9CBB0C1C5618B477219A5E3AFF4C8F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TriplePeaksLLCMember" xlink:label="loc_mtn_TriplePeaksLLCMember_A25AC5BA55CAD89DAE049A5E3AFF4499" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_TriplePeaksLLCMember_A25AC5BA55CAD89DAE049A5E3AFF4499" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:to="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:to="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTrademarks" xlink:label="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_68E584D611E4BFAE0EBC9A5E3B00E963" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_68E584D611E4BFAE0EBC9A5E3B00E963" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnfavorableLeaseObligationNet" xlink:label="loc_mtn_UnfavorableLeaseObligationNet_4C5F4D8C00ABA1917F989A5E3B0138BC" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_UnfavorableLeaseObligationNet_4C5F4D8C00ABA1917F989A5E3B0138BC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_973B94C44A6CE93E4C129A5E3B023D1F" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_973B94C44A6CE93E4C129A5E3B023D1F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_56E02E44D4D167EF63239A5E3B021272" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_56E02E44D4D167EF63239A5E3B021272" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_4D62CAF23B3ACCF9E9AA9A5E3B021466" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_4D62CAF23B3ACCF9E9AA9A5E3B021466" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_9C485D9B2DB3514B796E9A5E3B03ACBD" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_9C485D9B2DB3514B796E9A5E3B03ACBD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_93EBD04D292914AAF88B9A5E3B03174A" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_93EBD04D292914AAF88B9A5E3B03174A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_61374BB2B4E19D16F2299A5E3B038E76" xlink:type="locator" />
    <link:definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_61374BB2B4E19D16F2299A5E3B038E76" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" xlink:label="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_7CDB96BEAD35364702269A5E3B0363DE" xlink:type="locator" />
    <link:definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_7CDB96BEAD35364702269A5E3B0363DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StampDutyExpense" xlink:label="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="locator" />
    <link:definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebt_D4A86E5E03A5FF22394A9A5E3B0494D2" xlink:type="locator" />
    <link:definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfDebt_D4A86E5E03A5FF22394A9A5E3B0494D2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_336DCD1893816FFF48549A5E3B043B4C" xlink:type="locator" />
    <link:definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_336DCD1893816FFF48549A5E3B043B4C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="locator" />
    <link:definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationLineItems" xlink:label="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationTable" xlink:label="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:to="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:to="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_5237C8319848FB3A4B818396D80EE246" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:to="loc_mtn_CanyonsMember_5237C8319848FB3A4B818396D80EE246" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:to="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/AcquisitionsTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_4F1019F06E25AED97EEEB21CE5645030" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_PeakResortsInc.Member_4F1019F06E25AED97EEEB21CE5645030" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StevensPassMember" xlink:label="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TriplePeaksLLCMember" xlink:label="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_6EA9D23B93987E788D2EB211F0156566" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:to="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_6EA9D23B93987E788D2EB211F0156566" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_ED8892393029E4F75E75B211F015228D" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_ED8892393029E4F75E75B211F015228D" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_27755512BC79DF59B0F89A5E3A3EA0F0" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:to="loc_mtn_CanyonsObligationMember_27755512BC79DF59B0F89A5E3A3EA0F0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NorthstarMember" xlink:label="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_1F45F128D2E7525A11529A5E3A3FA501" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_PerisherMember_1F45F128D2E7525A11529A5E3A3FA501" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_1A7E752AA0B2C97406EE9A5E3A3F04C8" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_CanyonsMember_1A7E752AA0B2C97406EE9A5E3A3F04C8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekMember" xlink:label="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HothamMember" xlink:label="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:to="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:to="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_3A12D228F009759D843E9A5E3A403B5C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:to="loc_srt_MaximumMember_3A12D228F009759D843E9A5E3A403B5C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_A04F23FDDE1D92632CA59A5E3A40EA6C" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:to="loc_srt_MinimumMember_A04F23FDDE1D92632CA59A5E3A40EA6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:to="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:to="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EmployeeHousingBondsMember" xlink:label="loc_mtn_EmployeeHousingBondsMember_3477BA0031CF60EC96279A5E3A412F78" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:to="loc_mtn_EmployeeHousingBondsMember_3477BA0031CF60EC96279A5E3A412F78" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" xlink:label="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:to="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:to="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:to="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HollandCreekMetropolitanDistrictMember" xlink:label="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:to="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RedSkyRanchMetropolitanDistrictMember" xlink:label="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:to="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentThirdPartyCreditEnhancements" xlink:label="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SuretyBondsOutstanding" xlink:label="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLongTermDebt" xlink:label="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EstimatedCessationDateOfCapitalImprovementFeePayments" xlink:label="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_1B27AE9C810B95F6B3B59A5E3A438DC9" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LeaseExpirationDate1_1B27AE9C810B95F6B3B59A5E3A438DC9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfOptionalLeaseRenewalTerms" xlink:label="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_7E07B78FD9BAE8613CC49A5E3A44E4E9" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_7E07B78FD9BAE8613CC49A5E3A44E4E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DescriptionofPercentageRent" xlink:label="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_64FC3DF6023017C249C49A5E3A44DCF9" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LongTermDebt_64FC3DF6023017C249C49A5E3A44DCF9" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_DC4A000101D0C174B0F68396D93069C5" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_DC4A000101D0C174B0F68396D93069C5" xlink:to="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:to="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:to="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:to="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:to="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:to="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8C40EBB448A328B24D1980B1A3008E48" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ProfitLoss_8C40EBB448A328B24D1980B1A3008E48" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_DF2693EC2B5CBF1E30BE80B1A300F39E" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_DF2693EC2B5CBF1E30BE80B1A300F39E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8561A4CADED31B1DF01E8396D8DF8835" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_8561A4CADED31B1DF01E8396D8DF8835" xlink:to="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:to="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_89DB43BA8E1531F971F180B1A33182C4" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_89DB43BA8E1531F971F180B1A33182C4" xlink:to="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:to="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:to="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:to="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:to="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:to="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TotalVailResortsIncStockholdersEquityMember" xlink:label="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_0BDC583775E30DFC568FB28F418034EF" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_NetIncomeLoss_0BDC583775E30DFC568FB28F418034EF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:label="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" xlink:label="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesTransfer" xlink:label="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurements" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:to="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:to="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommercialPaperMember" xlink:label="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_4B4D9D0B47308C0611359A5E3A97ED75" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:to="loc_mtn_CanyonsMember_4B4D9D0B47308C0611359A5E3A97ED75" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:to="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:to="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationKeyAssumptionsforValuation" xlink:label="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription" xlink:label="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationFairValueDisclosure" xlink:label="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRent" xlink:label="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxes" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_DD0326167101EF6F0654A2F41963857E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:to="loc_mtn_PeakResortsInc.Member_DD0326167101EF6F0654A2F41963857E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:to="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:to="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_290100832A6C7FA50DC1A2F0A1E9DD63" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:to="loc_srt_MaximumMember_290100832A6C7FA50DC1A2F0A1E9DD63" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_BF38D70E862327EF0DC1A2F0A1EBB346" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:to="loc_srt_MinimumMember_BF38D70E862327EF0DC1A2F0A1EBB346" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:to="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:to="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseMember" xlink:label="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCountryMember" xlink:label="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Netoperatinglosscarryback" xlink:label="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_USRefundablePayrollTaxCredits" xlink:label="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:label="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:label="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ImpactofTaxReformonRate" xlink:label="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ForeignRefundablePayrollTaxCredits" xlink:label="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:to="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:to="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_KeystoneAndIntrawestLlcMember" xlink:label="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ClintonDitchAndReservoirCompanyMember" xlink:label="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees" xlink:label="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LeasesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_8E3B2B5B2FEFE81007BD9E74BC40D025" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:to="loc_mtn_CanyonsObligationMember_8E3B2B5B2FEFE81007BD9E74BC40D025" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:to="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:to="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:to="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_C27E19AFBD8EF235C7EF9E74BC412B00" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:to="loc_srt_MinimumMember_C27E19AFBD8EF235C7EF9E74BC412B00" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_35E12478348B5A56D26B9E74BC41DBED" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:to="loc_srt_MaximumMember_35E12478348B5A56D26B9E74BC41DBED" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_4A02EF9FE17D4A7FCD609E74BC42B489" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_4A02EF9FE17D4A7FCD609E74BC42B489" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseInterestExpense" xlink:label="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermLeaseCost" xlink:label="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableLeaseCost" xlink:label="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FinancingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="locator" />
    <link:definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="locator" />
    <link:definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="locator" />
    <link:definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="locator" />
    <link:definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="locator" />
    <link:definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="locator" />
    <link:definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="locator" />
    <link:definitionArc order="25" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="locator" />
    <link:definitionArc order="26" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="locator" />
    <link:definitionArc order="27" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="locator" />
    <link:definitionArc order="28" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="locator" />
    <link:definitionArc order="29" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="locator" />
    <link:definitionArc order="30" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="locator" />
    <link:definitionArc order="31" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="locator" />
    <link:definitionArc order="32" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="locator" />
    <link:definitionArc order="33" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="locator" />
    <link:definitionArc order="34" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_4805B6FB7A684BF64FC79E74BC4863FD" xlink:type="locator" />
    <link:definitionArc order="35" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiability_4805B6FB7A684BF64FC79E74BC4863FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="locator" />
    <link:definitionArc order="36" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="locator" />
    <link:definitionArc order="37" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="locator" />
    <link:definitionArc order="38" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="locator" />
    <link:definitionArc order="39" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="locator" />
    <link:definitionArc order="40" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="locator" />
    <link:definitionArc order="41" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="locator" />
    <link:definitionArc order="42" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="locator" />
    <link:definitionArc order="43" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAsset" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="locator" />
    <link:definitionArc order="44" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="locator" />
    <link:definitionArc order="45" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LesseeOperatingAndFinanceLeaseTerm" xlink:label="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="locator" />
    <link:definitionArc order="46" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:label="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="locator" />
    <link:definitionArc order="47" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="locator" />
    <link:definitionArc order="48" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LeasesNotes" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LeasesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LongTermDebt" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:to="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:to="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear1Member" xlink:label="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear2Member" xlink:label="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EventofDefaultMember" xlink:label="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseAxis" xlink:label="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D_default" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExpectedToBeRecognizedInOneYearMember" xlink:label="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:to="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:to="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4_default" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:to="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:to="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:to="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:to="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:to="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:to="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:to="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:to="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:to="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:to="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentByTrancheAxis" xlink:label="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheOfDebtDomain" xlink:label="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:to="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4_default" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheOfDebtDomain" xlink:label="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:to="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheaMember" xlink:label="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:to="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheBMember" xlink:label="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:to="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HunterMountainSecuredNoteMember" xlink:label="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountSnowSecuredNoteMember" xlink:label="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_A6.25NotesMember" xlink:label="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ColoradoWaterConservationBoardNoteOutstandingMember" xlink:label="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BreckenridgeTerraceMember" xlink:label="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TarnesMember" xlink:label="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BcHousingMember" xlink:label="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TenderfootMember" xlink:label="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes1Member" xlink:label="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WhistlerCreditAgreementrevolverMember" xlink:label="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_413A68E254694E3F11A8B211F0471899" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EPRSecuredNotesMember_413A68E254694E3F11A8B211F0471899" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_7795A42E6BE85A3C3CD6B211F04757CD" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotesMember_7795A42E6BE85A3C3CD6B211F04757CD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanMember" xlink:label="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanHedgedPortionMember" xlink:label="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanUnhedgedPortionMember" xlink:label="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EmployeeHousingBondsMember" xlink:label="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherDebtMember" xlink:label="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AlpineValleySecuredNoteMember" xlink:label="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BostonMillsBrandywineSecuredNoteMember" xlink:label="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_JackFrostBigBoulderSecuredNoteMember" xlink:label="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountSnowSecuredNoteMember" xlink:label="loc_mtn_MountSnowSecuredNoteMember_63129445B6A78D3FB5DFB211F0497093" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_MountSnowSecuredNoteMember_63129445B6A78D3FB5DFB211F0497093" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HunterMountainSecuredNoteMember" xlink:label="loc_mtn_HunterMountainSecuredNoteMember_F23D86C3BD5F84C7E78AB211F0490EA5" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_HunterMountainSecuredNoteMember_F23D86C3BD5F84C7E78AB211F0490EA5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes2Member" xlink:label="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionSharePrice" xlink:label="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet" xlink:label="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtDescription" xlink:label="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentRedemptionDescription" xlink:label="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AnnualInterestRateIncreaseCap" xlink:label="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRAdditionalInterestRate" xlink:label="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtServiceReserve" xlink:label="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="locator" />
    <link:definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="locator" />
    <link:definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:label="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="locator" />
    <link:definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:label="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="locator" />
    <link:definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InterestRateSwapNotionalAmount" xlink:label="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="locator" />
    <link:definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="locator" />
    <link:definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromUnsecuredNotesPayable" xlink:label="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="locator" />
    <link:definitionArc order="25" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="locator" />
    <link:definitionArc order="26" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="locator" />
    <link:definitionArc order="27" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="locator" />
    <link:definitionArc order="28" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="locator" />
    <link:definitionArc order="29" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="locator" />
    <link:definitionArc order="30" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="locator" />
    <link:definitionArc order="31" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="locator" />
    <link:definitionArc order="32" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentYearofMaturity" xlink:label="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="locator" />
    <link:definitionArc order="33" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="locator" />
    <link:definitionArc order="34" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="locator" />
    <link:definitionArc order="35" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="locator" />
    <link:definitionArc order="36" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="locator" />
    <link:definitionArc order="37" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="locator" />
    <link:definitionArc order="38" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="locator" />
    <link:definitionArc order="39" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="locator" />
    <link:definitionArc order="40" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="locator" />
    <link:definitionArc order="41" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InitialCapitalLeaseTerm" xlink:label="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="locator" />
    <link:definitionArc order="42" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="locator" />
    <link:definitionArc order="43" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MinimumCapitalLeasePaymentAnnual" xlink:label="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="locator" />
    <link:definitionArc order="44" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AdjustmentsToCapitalLeaseAnnualPayments" xlink:label="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="locator" />
    <link:definitionArc order="45" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="locator" />
    <link:definitionArc order="46" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="locator" />
    <link:definitionArc order="47" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntercompanyForeignCurrencyBalanceAmount" xlink:label="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="locator" />
    <link:definitionArc order="48" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="locator" />
    <link:definitionArc order="49" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="locator" />
    <link:definitionArc order="50" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="locator" />
    <link:definitionArc order="51" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="locator" />
    <link:definitionArc order="52" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="locator" />
    <link:definitionArc order="53" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTradeNames" xlink:label="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="locator" />
    <link:definitionArc order="54" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedPropertyManagementContracts" xlink:label="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="locator" />
    <link:definitionArc order="55" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="locator" />
    <link:definitionArc order="56" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="locator" />
    <link:definitionArc order="57" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="locator" />
    <link:definitionArc order="58" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="locator" />
    <link:definitionArc order="59" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="locator" />
    <link:definitionArc order="60" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/LongTermDebtTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_F7E16576108A8674F224B211F06B3FF7" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:to="loc_mtn_PeakResortsInc.Member_F7E16576108A8674F224B211F06B3FF7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:to="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:to="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_4A7AC4B54B0F9D0E83F4B211F06CF0D9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:to="loc_us-gaap_CommonStockMember_4A7AC4B54B0F9D0E83F4B211F06CF0D9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_8E982954C6F93D6D6D5AB211F06C3358" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:to="loc_mtn_ExchangeableSharesMember_8E982954C6F93D6D6D5AB211F06C3358" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:to="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:to="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_FCE208A296263418BA64B211F06CFBAC" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:to="loc_srt_ScenarioForecastMember_FCE208A296263418BA64B211F06CFBAC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingCommon" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingExchangeable" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesParValuePerShare" xlink:label="loc_mtn_ExchangeableSharesParValuePerShare_0C5C7E545EE21AC78054B22438D0FC63" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_ExchangeableSharesParValuePerShare_0C5C7E545EE21AC78054B22438D0FC63" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:to="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:to="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BeaverCreekResortCompanyOfColoradoMember" xlink:label="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:to="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_8D32F9649533B0A31CFB8396D76D8A64" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_8D32F9649533B0A31CFB8396D76D8A64" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RightToAppointNumberOfDirectors" xlink:label="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfDirectors" xlink:label="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_5371E897B435DB2357098396D76EBA7D" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_5371E897B435DB2357098396D76EBA7D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_EC63B9F011FDC7ED03FD8396D76ED1B1" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_RevenueFromRelatedParties_EC63B9F011FDC7ED03FD8396D76ED1B1" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RevenuesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:to="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:to="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:to="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:to="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_89325B2118E5B41DE0A9981677D9F9EB" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_LiftTicketsMember_89325B2118E5B41DE0A9981677D9F9EB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_CB9839584E561058E2C6981677D9F33D" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_SkiSchoolMember_CB9839584E561058E2C6981677D9F33D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_56AF44DB5728E9757FA6981677D98C0A" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_DiningMember_56AF44DB5728E9757FA6981677D98C0A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_0DCA1B3BB66EAD70B13E981677D9151E" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_RetailRentalMember_0DCA1B3BB66EAD70B13E981677D9151E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_AABAB7BE554A563FF748981677D969DD" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OtherMountainRevenueMember_AABAB7BE554A563FF748981677D969DD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OwnedHotelRevenueMember" xlink:label="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ManagedcondominiumroomsMember" xlink:label="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TransportationMember" xlink:label="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GolfMember" xlink:label="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLodgingRevenueMember" xlink:label="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" xlink:label="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PayrollcostreimbursementsMember" xlink:label="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralRevenue" xlink:label="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_5306C46E4739911FCA64981677DCD0C1" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_us-gaap_Revenues_5306C46E4739911FCA64981677DCD0C1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralCosts" xlink:label="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RevenuesNotes" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/RevenuesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SegmentInformation" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:to="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:to="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_38A08F344B8D361AAD9080B19D15DA5E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_LiftTicketsMember_38A08F344B8D361AAD9080B19D15DA5E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_BBA0A8DF3C696DB1F3D880B19D15BE8F" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_SkiSchoolMember_BBA0A8DF3C696DB1F3D880B19D15BE8F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_66B5E7D72523E66AC60980B19D1541D7" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_DiningMember_66B5E7D72523E66AC60980B19D1541D7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_4FD7A6D2042BBE72ADE980B19D155C62" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_RetailRentalMember_4FD7A6D2042BBE72ADE980B19D155C62" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_6E1E6139F84A0025BB5080B19D1645A9" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_OtherMountainRevenueMember_6E1E6139F84A0025BB5080B19D1645A9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortMember" xlink:label="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_FB44C0BC9208F467086580B19D16D779" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:to="loc_mtn_MountainMember_FB44C0BC9208F467086580B19D16D779" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingMember" xlink:label="loc_mtn_LodgingMember_5EC825CEC984E34584A280B19D162FD0" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:to="loc_mtn_LodgingMember_5EC825CEC984E34584A280B19D162FD0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateMember" xlink:label="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_5903B406A81842B39DAD80B19D171E27" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_LodgingRevenueNet_5903B406A81842B39DAD80B19D171E27" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_F162D3381A0DC37DCD4E80B19D179F03" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_RealEstateRevenue_F162D3381A0DC37DCD4E80B19D179F03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainExpensesNet" xlink:label="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingExpensesNet" xlink:label="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainEquityInvestmentIncomeLossNet" xlink:label="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EarningBeforeInterestTaxesDepreciationAndAmortization" xlink:label="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryRealEstate" xlink:label="loc_us-gaap_InventoryRealEstate_DACB920E10434FA9523B80B19D19F183" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InventoryRealEstate_DACB920E10434FA9523B80B19D19F183" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_E0B5EDACD5C1049E59A180D0431A3F6C" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_DepreciationAndAmortization_E0B5EDACD5C1049E59A180D0431A3F6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_1BD0DEBE9429889DA3D980D0A8543BA5" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_AssetImpairmentCharges_1BD0DEBE9429889DA3D980D0A8543BA5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_720431D98F4F5E27B57380D15E6496AF" xlink:type="locator" />
    <link:definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_720431D98F4F5E27B57380D15E6496AF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="locator" />
    <link:definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_443E619BB5C8C12A674C80D20046F408" xlink:type="locator" />
    <link:definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_443E619BB5C8C12A674C80D20046F408" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="locator" />
    <link:definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="locator" />
    <link:definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_045E07B72393FE346A2480B19D1F22E0" xlink:type="locator" />
    <link:definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_ProfitLoss_045E07B72393FE346A2480B19D1F22E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="locator" />
    <link:definitionArc order="25" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_D05BEB357133987DFBC380B19D1F453E" xlink:type="locator" />
    <link:definitionArc order="26" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_NetIncomeLoss_D05BEB357133987DFBC380B19D1F453E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_E6323B181416581EA7C480B19D1FAB73" xlink:type="locator" />
    <link:definitionArc order="27" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_E6323B181416581EA7C480B19D1FAB73" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:to="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:to="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CanadaRevenueAgencyMember" xlink:label="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionForeignMember" xlink:label="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionDomesticMember" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:to="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:to="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:to="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:to="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsAxis" xlink:label="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsDomain" xlink:label="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:to="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsDomain" xlink:label="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:to="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsAxis" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsDomain" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:to="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsDomain" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:to="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_B8C6726E9E6D657BADE780B19CE12009" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="loc_us-gaap_Revenues_B8C6726E9E6D657BADE780B19CE12009" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SegmentInformationTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_9E825C7CD319949B4F5D5D5E016FF909" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_9E825C7CD319949B4F5D5D5E016FF909" xlink:to="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsByTypeAxis" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:to="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsTypeDomain" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:to="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsTypeDomain" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:to="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlan" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:to="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:to="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_3C9E0CEFD4680D9F86695D5DFF33B883" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:to="loc_srt_MaximumMember_3C9E0CEFD4680D9F86695D5DFF33B883" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_18DABCD3F846DC61D38B5D5DFF34B8FA" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:to="loc_srt_MinimumMember_18DABCD3F846DC61D38B5D5DFF34B8FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseAxis" xlink:label="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C_default" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExpectedToBeRecognizedInOneYearMember" xlink:label="loc_mtn_ExpectedToBeRecognizedInOneYearMember_1237C69150D2624E9C4E5D5DFF35E013" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:to="loc_mtn_ExpectedToBeRecognizedInOneYearMember_1237C69150D2624E9C4E5D5DFF35E013" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:to="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:to="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_AFC8CD3859CDB507CB635D5DFF386010" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:to="loc_srt_ScenarioForecastMember_AFC8CD3859CDB507CB635D5DFF386010" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RestrictedStockUnitsRsusMember" xlink:label="loc_mtn_RestrictedStockUnitsRsusMember_BA573730D4418672391F5D5DFF3DAE6B" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:to="loc_mtn_RestrictedStockUnitsRsusMember_BA573730D4418672391F5D5DFF3DAE6B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:to="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RestrictedStockUnitsRsusMember" xlink:label="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:to="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod" xlink:label="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:to="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_73DABA26621B6D3048C65D5E060DD48D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_73DABA26621B6D3048C65D5E060DD48D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:to="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:to="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:to="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_9A8D98852FB1C7736EB75D5DFD7352E1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:to="loc_srt_MinimumMember_9A8D98852FB1C7736EB75D5DFD7352E1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_4167199A40AD3C13D73A5D5DFD73D641" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:to="loc_srt_MaximumMember_4167199A40AD3C13D73A5D5DFD73D641" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesLineItems" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesTable" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateAxis" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateDomain" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateDomain" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:to="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:to="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainOperatingExpenseMember" xlink:label="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingOperatingExpenseMember" xlink:label="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateOperatingExpenseMember" xlink:label="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfChangeInAccountingEstimateTable" xlink:label="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillMember" xlink:label="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:to="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_6833C9E0A27F9826A64B98FD9D2DD339" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:to="loc_srt_ScenarioForecastMember_6833C9E0A27F9826A64B98FD9D2DD339" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:to="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:to="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_6BAF6EBFE37B429C966898FD9D2ECE18" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:to="loc_srt_MinimumMember_6BAF6EBFE37B429C966898FD9D2ECE18" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_5B71E42CDB677270EBEE98FD9D2E806F" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:to="loc_srt_MaximumMember_5B71E42CDB677270EBEE98FD9D2E806F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:to="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:to="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_E8B3D0CE887BA228E43898FD9D2F77A2" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:to="loc_us-gaap_RetainedEarningsMember_E8B3D0CE887BA228E43898FD9D2F77A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_A6.25NotesMember" xlink:label="loc_mtn_A6.25NotesMember_86D8DF6D083C4130CFC098FD9D2FDC10" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_A6.25NotesMember_86D8DF6D083C4130CFC098FD9D2FDC10" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_C3D18D02B186E476C40B98FD9D305891" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_EPRSecuredNotesMember_C3D18D02B186E476C40B98FD9D305891" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_1C554624EADD702D8E8A98FD9D304567" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_EB5DevelopmentNotesMember_1C554624EADD702D8E8A98FD9D304567" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InterestRateSwapNotionalAmount" xlink:label="loc_mtn_InterestRateSwapNotionalAmount_D72E38E9C5E8069F3B6B98FD9D303329" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_InterestRateSwapNotionalAmount_D72E38E9C5E8069F3B6B98FD9D303329" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesAndLoansPayable" xlink:label="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_DB26CDC2115F84FAE3E898FD9D31B7AE" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_AssetImpairmentCharges_DB26CDC2115F84FAE3E898FD9D31B7AE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_C2B6545C282E12C1EA9698FD9D318A6B" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_AccountsPayableAccruedLiabilities_C2B6545C282E12C1EA9698FD9D318A6B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_635649D8CFFEDF0C098698FD9D311258" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_635649D8CFFEDF0C098698FD9D311258" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_9DDEB17CA7E34FB8F10A98FD9D31E8AC" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_9DDEB17CA7E34FB8F10A98FD9D31E8AC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_84CC5752E0785E03196098FD9D323247" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_84CC5752E0785E03196098FD9D323247" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_E37EB2A5CDD5616301E598FD9D326E70" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_E37EB2A5CDD5616301E598FD9D326E70" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_D2A6A124D75AD100B87C98FD9D320FE7" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_D2A6A124D75AD100B87C98FD9D320FE7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Rightofuseassetadjustments" xlink:label="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:to="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:to="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_F71BD4FE4482B67ECDA55D5E0437EF48" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:to="loc_srt_MinimumMember_F71BD4FE4482B67ECDA55D5E0437EF48" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_9E921FCE22DB96558F255D5E0437F3D7" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:to="loc_srt_MaximumMember_9E921FCE22DB96558F255D5E0437F3D7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LandImprovementsMember" xlink:label="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xlink:label="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VehiclesMember" xlink:label="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfGoodwillTable" xlink:label="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:to="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:to="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:to="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingMember" xlink:label="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:to="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xlink:label="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8B8E0EE2D796BA0E9D5483C4D38ED895" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_8B8E0EE2D796BA0E9D5483C4D38ED895" xlink:to="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:to="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillMember" xlink:label="loc_us-gaap_GoodwillMember_9A266EBEA37BE6D79FD598FD9C31C6EE" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:to="loc_us-gaap_GoodwillMember_9A266EBEA37BE6D79FD598FD9C31C6EE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_1DEE3F591C4611CDCA0098FD9C32E2E6" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMember_1DEE3F591C4611CDCA0098FD9C32E2E6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_8A7307CB8543F64CF83098FD9C32EBD3" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_AssetImpairmentCharges_8A7307CB8543F64CF83098FD9C32EBD3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillGross" xlink:label="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GoodwillAccumulatedAmortization" xlink:label="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTrademarks" xlink:label="loc_us-gaap_IndefiniteLivedTrademarks_ABB57ABCA759CF8982A798FD9C33FCDA" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IndefiniteLivedTrademarks_ABB57ABCA759CF8982A798FD9C33FCDA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIndefiniteLivedIntangibleAssets" xlink:label="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="locator" />
    <link:definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="locator" />
    <link:definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="locator" />
    <link:definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedTradeNamesGross" xlink:label="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="locator" />
    <link:definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherFiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="locator" />
    <link:definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="locator" />
    <link:definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="locator" />
    <link:definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="locator" />
    <link:definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GrossIntangibleAssetsExcludingGoodwill" xlink:label="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="locator" />
    <link:definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccumulatedAmortizationExcludingGoodwill" xlink:label="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="locator" />
    <link:definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="locator" />
    <link:definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_9532BFC26B4C747B942198FD9C359D0E" xlink:type="locator" />
    <link:definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_9532BFC26B4C747B942198FD9C359D0E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="locator" />
    <link:definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_57AF077BD16EC0C5C9B298FD9C36834E" xlink:type="locator" />
    <link:definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_57AF077BD16EC0C5C9B298FD9C36834E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_519851391A4EB390B51698FD9C36D93C" xlink:type="locator" />
    <link:definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_519851391A4EB390B51698FD9C36D93C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_A9C08496417AD8BE912598FD9C364A43" xlink:type="locator" />
    <link:definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_A9C08496417AD8BE912598FD9C364A43" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_61372078D70C4B6C9E5A98FD9C36C000" xlink:type="locator" />
    <link:definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_61372078D70C4B6C9E5A98FD9C36C000" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_611DBF20DFB69FBAF1D98396D7F1E54E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:to="loc_mtn_CanyonsMember_611DBF20DFB69FBAF1D98396D7F1E54E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E_default" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:to="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E_default" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:to="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="locator" />
    <link:definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="locator" />
    <link:definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="locator" />
    <link:definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="locator" />
    <link:definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="locator" />
    <link:definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="locator" />
    <link:definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="locator" />
    <link:definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="arc" />
  </link:definitionLink>
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="extended" />
  <link:definitionLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:type="extended" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>12
<FILENAME>mtn-20200731_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple" />
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA_label_en-US" xlink:label="lab_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retirement Benefits [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:to="lab_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:type="arc" />
    <link:label id="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE_verboseLabel_en-US" xlink:label="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Retirement and Profit Sharing Plans</link:label>
    <link:label id="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE_label_en-US" xlink:label="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retirement and Profit Sharing [Text Block]</link:label>
    <link:label id="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE_documentation_en-US" xlink:label="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Entire disclosure for defined contribtuion plan. A defined contribution plan provides benefits in return for services rendered, provides an individual account for each participant, and has terms that specify how contributions to the individual's account are to be determined rather than the amount of benefits the individual is to receive. Disclosure includes a description of the terms and benefits provided by the employer's defined contribution plans.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetirementAndProfitSharingTextBlock" xlink:label="loc_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:to="lab_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="arc" />
    <link:label id="lab_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:to="lab_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="arc" />
    <link:label id="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234_terseLabel_en-US" xlink:label="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:label id="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234_label_en-US" xlink:label="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:label id="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234_documentation_en-US" xlink:label="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted stock units (RSUs) as awarded by a company to their employees as a form of incentive compensation.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RestrictedStockUnitsRsusMember" xlink:label="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:to="lab_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="lab_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875_periodStartLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Awards, outstanding beginning balance (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Nonvested Number</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of non-vested restricted share units, that validly exist and are outstanding as of the balance sheet date.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards, granted (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Granted In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net number of restricted share units granted during the period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="arc" />
    <link:label id="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06_negatedLabel_en-US" xlink:label="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, vested (in shares)</link:label>
    <link:label id="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06_label_en-US" xlink:label="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Number Of Restricted Stock Units Vested During The Period</link:label>
    <link:label id="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06_documentation_en-US" xlink:label="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of restricted stock units vested during the period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod" xlink:label="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:to="lab_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F_negatedLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, forfeited (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Forfeited In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of restricted share units, that were forfeited during the reporting period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Awards, outstanding ending balance (in shares)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549_periodStartLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Nonvested Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value of nonvested restricted share units for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to underlying shares or units.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, granted (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restriicted Stock Units Granted In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value at grant date for nonvested restricted share units issued during the period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, vested (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Vested In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value as of grant date pertaining to restricted share units for which the grantee gained the right during the reporting period, by satisfying service requirements, to receive shares or units in accordance with the terms of the arrangement.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, forfeited (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement Restricted Stock Units Forfeited In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value as of the grant date of restricted share units that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, outstanding ending balance (in dollars per share)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:to="lab_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:to="lab_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary Of Financial Information By Reportable Segment</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue and Properties, Plant and Equipment from External Customers by Geographic Areas [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4_label_en-US" xlink:label="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from External Customers by Geographic Areas [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:label="loc_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:to="lab_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components Of Deferred Tax Liabilities And Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:to="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:type="arc" />
    <link:label id="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262_terseLabel_en-US" xlink:label="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
    <link:label id="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262_label_en-US" xlink:label="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
    <link:label id="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262_documentation_en-US" xlink:label="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock" xlink:label="loc_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:to="lab_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Components Of Provision (Benefit) For Income Taxes</link:label>
    <link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:to="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4_label_en-US" xlink:label="lab_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:to="lab_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:to="lab_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:type="arc" />
    <link:label id="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08_terseLabel_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation Of Unrecognized Tax Benefits</link:label>
    <link:label id="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08_label_en-US" xlink:label="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summary of Income Tax Contingencies [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xlink:label="loc_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:to="lab_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:type="arc" />
    <link:label id="lab_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191_label_en-US" xlink:label="lab_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Related Disclosures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:to="lab_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:type="arc" />
    <link:label id="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109_terseLabel_en-US" xlink:label="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Private club deferred initiation fee revenue</link:label>
    <link:label id="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109_label_en-US" xlink:label="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Private Club Deferred Initiation Fees And Deposits</link:label>
    <link:label id="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109_documentation_en-US" xlink:label="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount as of the balance sheet date of prepayments by customers for private club initiation fees and deposits for services to be provided at a later date.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PrivateClubDeferredInitiationFeesAndDeposits" xlink:label="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:to="lab_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:type="arc" />
    <link:label id="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD_terseLabel_en-US" xlink:label="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfavorable lease obligations, net</link:label>
    <link:label id="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD_label_en-US" xlink:label="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfavorable Lease Obligation Net</link:label>
    <link:label id="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD_documentation_en-US" xlink:label="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount as of the balance sheet date of unfavorable lease obligations.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnfavorableLeaseObligationNet" xlink:label="loc_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:to="lab_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other long-term liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities, Noncurrent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:to="lab_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:type="arc" />
    <link:label id="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123_totalLabel_en-US" xlink:label="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other long-term liabilities</link:label>
    <link:label id="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123_label_en-US" xlink:label="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Long Term Liabilities Noncurrent</link:label>
    <link:label id="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123_documentation_en-US" xlink:label="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:to="lab_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:to="lab_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:type="arc" />
    <link:label id="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6_verboseLabel_en-US" xlink:label="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Summary On Estimated Useful Life Of Property, Plant And Equipment</link:label>
    <link:label id="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6_label_en-US" xlink:label="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block]</link:label>
    <link:label id="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6_documentation_en-US" xlink:label="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock" xlink:label="loc_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:to="lab_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocation Of Stock-Based Compensation Expense</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:to="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5_label_en-US" xlink:label="lab_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Other Disclosures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtOtherDisclosuresAbstract" xlink:label="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:to="lab_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="lab_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:to="lab_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="lab_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="arc" />
    <link:label id="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771_terseLabel_en-US" xlink:label="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension Year1 [Member]</link:label>
    <link:label id="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771_label_en-US" xlink:label="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extension Year1 [Member]</link:label>
    <link:label id="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771_documentation_en-US" xlink:label="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extension Year1 [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear1Member" xlink:label="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:to="lab_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="arc" />
    <link:label id="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0_terseLabel_en-US" xlink:label="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension Year2 [Member]</link:label>
    <link:label id="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0_label_en-US" xlink:label="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extension Year2 [Member]</link:label>
    <link:label id="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0_documentation_en-US" xlink:label="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extension Year2 [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear2Member" xlink:label="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:to="lab_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="arc" />
    <link:label id="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB_terseLabel_en-US" xlink:label="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Event of Default [Member]</link:label>
    <link:label id="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB_label_en-US" xlink:label="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Event of Default [Member]</link:label>
    <link:label id="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB_documentation_en-US" xlink:label="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Event of Default [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EventofDefaultMember" xlink:label="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:to="lab_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="arc" />
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369_terseLabel_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense [Axis]</link:label>
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369_label_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense [Axis]</link:label>
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369_documentation_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseAxis" xlink:label="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:to="lab_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="arc" />
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D_terseLabel_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense [Domain]</link:label>
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D_label_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense [Domain]</link:label>
    <link:label id="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D_documentation_en-US" xlink:label="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrecognized Compensation Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:to="lab_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="arc" />
    <link:label id="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE_terseLabel_en-US" xlink:label="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected to be Recognized in One Year [Member]</link:label>
    <link:label id="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE_label_en-US" xlink:label="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected to be Recognized in One Year [Member]</link:label>
    <link:label id="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE_documentation_en-US" xlink:label="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Expected to be Recognized in One Year</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExpectedToBeRecognizedInOneYearMember" xlink:label="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:to="lab_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="arc" />
    <link:label id="lab_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077_terseLabel_en-US" xlink:label="lab_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:label id="lab_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077_label_en-US" xlink:label="lab_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:to="lab_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="arc" />
    <link:label id="lab_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4_terseLabel_en-US" xlink:label="lab_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:label id="lab_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4_label_en-US" xlink:label="lab_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:to="lab_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="arc" />
    <link:label id="lab_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950_terseLabel_en-US" xlink:label="lab_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:label id="lab_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950_label_en-US" xlink:label="lab_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:to="lab_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="arc" />
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1_terseLabel_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1_label_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:to="lab_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="arc" />
    <link:label id="lab_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5_terseLabel_en-US" xlink:label="lab_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forecast [Member]</link:label>
    <link:label id="lab_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5_label_en-US" xlink:label="lab_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forecast [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:to="lab_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:to="lab_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="arc" />
    <link:label id="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A_terseLabel_en-US" xlink:label="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peak Resorts, Inc. [Member]</link:label>
    <link:label id="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A_label_en-US" xlink:label="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peak Resorts, Inc. [Member]</link:label>
    <link:label id="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A_documentation_en-US" xlink:label="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Peak Resorts, Inc. [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:to="lab_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="arc" />
    <link:label id="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155_terseLabel_en-US" xlink:label="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canyons [Member]</link:label>
    <link:label id="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155_label_en-US" xlink:label="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canyons [Member]</link:label>
    <link:label id="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155_documentation_en-US" xlink:label="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Canyons [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:to="lab_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="arc" />
    <link:label id="lab_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6_terseLabel_en-US" xlink:label="lab_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6_label_en-US" xlink:label="lab_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:to="lab_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="arc" />
    <link:label id="lab_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5_terseLabel_en-US" xlink:label="lab_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5_label_en-US" xlink:label="lab_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:to="lab_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="arc" />
    <link:label id="lab_srt_MaximumMember_E525007E022A4272BC41B211F0425F93_terseLabel_en-US" xlink:label="lab_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:label id="lab_srt_MaximumMember_E525007E022A4272BC41B211F0425F93_label_en-US" xlink:label="lab_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:to="lab_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="arc" />
    <link:label id="lab_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7_terseLabel_en-US" xlink:label="lab_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:label id="lab_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7_label_en-US" xlink:label="lab_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:to="lab_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="arc" />
    <link:label id="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F_terseLabel_en-US" xlink:label="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, By Tranche [Axis]</link:label>
    <link:label id="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F_label_en-US" xlink:label="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, By Tranche [Axis]</link:label>
    <link:label id="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F_documentation_en-US" xlink:label="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, By Tranche</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentByTrancheAxis" xlink:label="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:to="lab_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="arc" />
    <link:label id="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4_terseLabel_en-US" xlink:label="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tranche of Debt [Domain]</link:label>
    <link:label id="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4_label_en-US" xlink:label="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tranche of Debt [Domain]</link:label>
    <link:label id="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4_documentation_en-US" xlink:label="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tranche of Debt</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheOfDebtDomain" xlink:label="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:to="lab_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="arc" />
    <link:label id="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F_terseLabel_en-US" xlink:label="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tranche A [Member]</link:label>
    <link:label id="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F_label_en-US" xlink:label="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TrancheA [Member]</link:label>
    <link:label id="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F_documentation_en-US" xlink:label="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tranche A [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheaMember" xlink:label="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:to="lab_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="arc" />
    <link:label id="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28_terseLabel_en-US" xlink:label="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tranche B [Member]</link:label>
    <link:label id="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28_label_en-US" xlink:label="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tranche B [Member]</link:label>
    <link:label id="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28_documentation_en-US" xlink:label="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tranche B</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheBMember" xlink:label="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:to="lab_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:to="lab_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="lab_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="arc" />
    <link:label id="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1_terseLabel_en-US" xlink:label="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hunter Mountain Secured Note [Member]</link:label>
    <link:label id="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1_label_en-US" xlink:label="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hunter Mountain Secured Note [Member]</link:label>
    <link:label id="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1_documentation_en-US" xlink:label="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hunter Mountain Secured Note [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HunterMountainSecuredNoteMember" xlink:label="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:to="lab_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="arc" />
    <link:label id="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477_terseLabel_en-US" xlink:label="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mount Snow Secured Note [Member]</link:label>
    <link:label id="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477_label_en-US" xlink:label="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mount Snow Secured Note [Member]</link:label>
    <link:label id="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477_documentation_en-US" xlink:label="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mount Snow Secured Note [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountSnowSecuredNoteMember" xlink:label="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:to="lab_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="arc" />
    <link:label id="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D_terseLabel_en-US" xlink:label="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.25% Notes [Member]</link:label>
    <link:label id="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D_label_en-US" xlink:label="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">6.25% Notes [Member]</link:label>
    <link:label id="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D_documentation_en-US" xlink:label="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">6.25% Notes [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_A6.25NotesMember" xlink:label="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:to="lab_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="arc" />
    <link:label id="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135_terseLabel_en-US" xlink:label="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EPR Secured Notes [Member]</link:label>
    <link:label id="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135_label_en-US" xlink:label="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EPR Secured Notes [Member]</link:label>
    <link:label id="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135_documentation_en-US" xlink:label="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">EPR Secured Notes [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:to="lab_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="arc" />
    <link:label id="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB_terseLabel_en-US" xlink:label="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colorado Water Conservation Board Note Outstanding [Member]</link:label>
    <link:label id="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB_label_en-US" xlink:label="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Colorado Water Conservation Board Note Outstanding [Member]</link:label>
    <link:label id="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB_documentation_en-US" xlink:label="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Colorado Water Conservation Board Note Outstanding [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ColoradoWaterConservationBoardNoteOutstandingMember" xlink:label="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:to="lab_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="arc" />
    <link:label id="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6_terseLabel_en-US" xlink:label="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Breckenridge Terrace [Member]</link:label>
    <link:label id="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6_label_en-US" xlink:label="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Breckenridge Terrace [Member]</link:label>
    <link:label id="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6_documentation_en-US" xlink:label="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Breckenridge Terrace [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BreckenridgeTerraceMember" xlink:label="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:to="lab_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="arc" />
    <link:label id="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A_terseLabel_en-US" xlink:label="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tarnes [Member]</link:label>
    <link:label id="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A_label_en-US" xlink:label="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tarnes [Member]</link:label>
    <link:label id="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A_documentation_en-US" xlink:label="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tarnes [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TarnesMember" xlink:label="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:to="lab_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="arc" />
    <link:label id="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3_terseLabel_en-US" xlink:label="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BC Housing [Member]</link:label>
    <link:label id="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3_label_en-US" xlink:label="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bc Housing [Member]</link:label>
    <link:label id="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3_documentation_en-US" xlink:label="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BC Housing [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BcHousingMember" xlink:label="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:to="lab_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="arc" />
    <link:label id="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4_terseLabel_en-US" xlink:label="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenderfoot [Member]</link:label>
    <link:label id="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4_label_en-US" xlink:label="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenderfoot [Member]</link:label>
    <link:label id="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4_documentation_en-US" xlink:label="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tenderfoot [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TenderfootMember" xlink:label="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:to="lab_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="arc" />
    <link:label id="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512_terseLabel_en-US" xlink:label="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512_label_en-US" xlink:label="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512_documentation_en-US" xlink:label="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:to="lab_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:to="lab_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="lab_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="arc" />
    <link:label id="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C_terseLabel_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes1 [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C_label_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes1 [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C_documentation_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes1Member" xlink:label="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:to="lab_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility Revolver [Member]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:to="lab_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="arc" />
    <link:label id="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1_terseLabel_en-US" xlink:label="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Whistler Credit Agreement revolver [Member]</link:label>
    <link:label id="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1_label_en-US" xlink:label="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Whistler Credit Agreement revolver [Member]</link:label>
    <link:label id="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1_documentation_en-US" xlink:label="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Whistler Credit Agreement revolver [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WhistlerCreditAgreementrevolverMember" xlink:label="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:to="lab_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="arc" />
    <link:label id="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033_terseLabel_en-US" xlink:label="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:label id="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033_label_en-US" xlink:label="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:label id="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033_documentation_en-US" xlink:label="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanMember" xlink:label="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:to="lab_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="arc" />
    <link:label id="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF_terseLabel_en-US" xlink:label="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan, Hedged Portion [Member]</link:label>
    <link:label id="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF_label_en-US" xlink:label="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan, Hedged Portion [Member]</link:label>
    <link:label id="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF_documentation_en-US" xlink:label="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan, Hedged Portion [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanHedgedPortionMember" xlink:label="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:to="lab_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="arc" />
    <link:label id="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B_terseLabel_en-US" xlink:label="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan, Unhedged Portion [Member]</link:label>
    <link:label id="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B_label_en-US" xlink:label="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan, Unhedged Portion [Member]</link:label>
    <link:label id="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B_documentation_en-US" xlink:label="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan, Unhedged Portion [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanUnhedgedPortionMember" xlink:label="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:to="lab_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="arc" />
    <link:label id="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523_terseLabel_en-US" xlink:label="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Housing Bonds [Member]</link:label>
    <link:label id="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523_label_en-US" xlink:label="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Housing Bonds [Member]</link:label>
    <link:label id="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523_documentation_en-US" xlink:label="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee Housing Bonds [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EmployeeHousingBondsMember" xlink:label="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:to="lab_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="arc" />
    <link:label id="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1_terseLabel_en-US" xlink:label="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canyons Obligation [Member]</link:label>
    <link:label id="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1_label_en-US" xlink:label="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canyons Obligation [Member]</link:label>
    <link:label id="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1_documentation_en-US" xlink:label="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Obligation to Talisker Corporation for operation of Canyons Resort</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:to="lab_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="arc" />
    <link:label id="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED_terseLabel_en-US" xlink:label="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other [Member]</link:label>
    <link:label id="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED_label_en-US" xlink:label="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Debt [Member]</link:label>
    <link:label id="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED_documentation_en-US" xlink:label="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Debt [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherDebtMember" xlink:label="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:to="lab_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="arc" />
    <link:label id="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6_terseLabel_en-US" xlink:label="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Alpine Valley Secured Note [Member]</link:label>
    <link:label id="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6_label_en-US" xlink:label="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Alpine Valley Secured Note [Member]</link:label>
    <link:label id="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6_documentation_en-US" xlink:label="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Alpine Valley Secured Note [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AlpineValleySecuredNoteMember" xlink:label="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:to="lab_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="arc" />
    <link:label id="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441_terseLabel_en-US" xlink:label="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Boston Mills Brandywine Secured Note [Member]</link:label>
    <link:label id="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441_label_en-US" xlink:label="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Boston Mills Brandywine Secured Note [Member]</link:label>
    <link:label id="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441_documentation_en-US" xlink:label="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Boston Mills Brandywine Secured Note [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BostonMillsBrandywineSecuredNoteMember" xlink:label="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:to="lab_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="arc" />
    <link:label id="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15_terseLabel_en-US" xlink:label="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Jack Frost Big Boulder Secured Note [Member]</link:label>
    <link:label id="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15_label_en-US" xlink:label="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Jack Frost Big Boulder Secured Note [Member]</link:label>
    <link:label id="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15_documentation_en-US" xlink:label="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Jack Frost Big Boulder Secured Note [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_JackFrostBigBoulderSecuredNoteMember" xlink:label="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:to="lab_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="arc" />
    <link:label id="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49_terseLabel_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes2 [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49_label_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EB-5 Development Notes2 [Member]</link:label>
    <link:label id="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49_documentation_en-US" xlink:label="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes2Member" xlink:label="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:to="lab_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Share Price</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Share Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionSharePrice" xlink:label="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:to="lab_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Increase (Decrease), Net</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Increase (Decrease), Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet" xlink:label="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:to="lab_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Minimum Liquidity</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Minimum Liquidity</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Minimum Liquidity</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Distribution</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Distribution</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Distribution</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Quarterly Distribution Limit</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Quarterly Distribution Limit</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Quarterly Distribution Limit</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="arc" />
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29_terseLabel_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29_label_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries</link:label>
    <link:label id="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29_documentation_en-US" xlink:label="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:to="lab_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Description</link:label>
    <link:label id="lab_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468_label_en-US" xlink:label="lab_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Description</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtDescription" xlink:label="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:to="lab_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:to="lab_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Periodic Payment</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Periodic Payment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:to="lab_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Description</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Redemption, Description</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentRedemptionDescription" xlink:label="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:to="lab_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="arc" />
    <link:label id="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881_terseLabel_en-US" xlink:label="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual Interest Rate Increase Cap</link:label>
    <link:label id="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881_label_en-US" xlink:label="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Interest Rate Increase Cap</link:label>
    <link:label id="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881_documentation_en-US" xlink:label="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Interest Rate Increase Cap</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AnnualInterestRateIncreaseCap" xlink:label="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:to="lab_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="arc" />
    <link:label id="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5_terseLabel_en-US" xlink:label="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EPR Additional Interest Rate</link:label>
    <link:label id="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5_label_en-US" xlink:label="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">EPR Additional Interest Rate</link:label>
    <link:label id="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5_documentation_en-US" xlink:label="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">EPR Additional Interest Rate</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRAdditionalInterestRate" xlink:label="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:to="lab_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="arc" />
    <link:label id="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388_terseLabel_en-US" xlink:label="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Service Reserve</link:label>
    <link:label id="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388_label_en-US" xlink:label="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Service Reserve</link:label>
    <link:label id="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388_documentation_en-US" xlink:label="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Service Reserve</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtServiceReserve" xlink:label="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:to="lab_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:to="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Initiation Date</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Initiation Date</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:label="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:to="lab_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Fee</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Fee</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:label="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:to="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="arc" />
    <link:label id="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2_terseLabel_en-US" xlink:label="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Swap, Notional Amount</link:label>
    <link:label id="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2_label_en-US" xlink:label="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap, Notional Amount</link:label>
    <link:label id="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2_documentation_en-US" xlink:label="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest Rate Swap, Notional Amount</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InterestRateSwapNotionalAmount" xlink:label="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:to="lab_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</link:label>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28_label_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:to="lab_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Unsecured Notes Payable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6_label_en-US" xlink:label="lab_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Unsecured Notes Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromUnsecuredNotesPayable" xlink:label="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:to="lab_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:to="lab_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</link:label>
    <link:label id="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3_label_en-US" xlink:label="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:to="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Less: Current maturities</link:label>
    <link:label id="lab_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9_label_en-US" xlink:label="lab_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Current Maturities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:to="lab_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524_label_en-US" xlink:label="lab_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Excluding Current Maturities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:to="lab_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:to="lab_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A_terseLabel_en-US" xlink:label="lab_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accretion Expense</link:label>
    <link:label id="lab_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A_label_en-US" xlink:label="lab_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accretion Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:to="lab_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="arc" />
    <link:label id="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F_terseLabel_en-US" xlink:label="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fiscal year maturity</link:label>
    <link:label id="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F_label_en-US" xlink:label="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Year of Maturity</link:label>
    <link:label id="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F_documentation_en-US" xlink:label="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Year of Maturity</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentYearofMaturity" xlink:label="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:to="lab_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fiscal year maturity, start</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Maturity Date Range, Start</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:to="lab_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fiscal year maturity, end</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Maturity Date Range, End</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:to="lab_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reference for interest rate determination</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Description of Variable Rate Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:to="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis spread on LIBOR rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, maturity date</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Maturity Date</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:to="lab_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long term debt interest rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate During Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:to="lab_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, outstanding amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:to="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="arc" />
    <link:label id="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903_terseLabel_en-US" xlink:label="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Initial Capital Lease Term</link:label>
    <link:label id="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903_label_en-US" xlink:label="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Initial Capital Lease Term</link:label>
    <link:label id="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903_documentation_en-US" xlink:label="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Initial Capital Lease Term</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InitialCapitalLeaseTerm" xlink:label="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:to="lab_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="arc" />
    <link:label id="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5_terseLabel_en-US" xlink:label="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Optional Lease Renewal Term</link:label>
    <link:label id="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5_label_en-US" xlink:label="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Optional Lease Renewal Term</link:label>
    <link:label id="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5_documentation_en-US" xlink:label="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of years in optional renewal terms.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:to="lab_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="arc" />
    <link:label id="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8_terseLabel_en-US" xlink:label="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum Capital Lease Payment, Annual</link:label>
    <link:label id="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8_label_en-US" xlink:label="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Capital Lease Payment, Annual</link:label>
    <link:label id="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8_documentation_en-US" xlink:label="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum amount of payment required annually for capital lease.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MinimumCapitalLeasePaymentAnnual" xlink:label="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:to="lab_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="arc" />
    <link:label id="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74_terseLabel_en-US" xlink:label="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to Capital Lease Annual Payments</link:label>
    <link:label id="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74_label_en-US" xlink:label="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Capital Lease Annual Payments</link:label>
    <link:label id="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74_documentation_en-US" xlink:label="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments to Capital Lease Annual Payments</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AdjustmentsToCapitalLeaseAnnualPayments" xlink:label="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:to="lab_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Talisker Canyons Obligation, Interest Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="arc" />
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of Financing Costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="arc" />
    <link:label id="lab_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70_terseLabel_en-US" xlink:label="lab_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intercompany Foreign Currency Balance, Amount</link:label>
    <link:label id="lab_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70_label_en-US" xlink:label="lab_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intercompany Foreign Currency Balance, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntercompanyForeignCurrencyBalanceAmount" xlink:label="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:to="lab_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="arc" />
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency loss on intercompany loans (Note 6)</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transaction Gain (Loss), before Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="arc" />
    <link:label id="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1_terseLabel_en-US" xlink:label="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Cash Consideration Transferred</link:label>
    <link:label id="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1_label_en-US" xlink:label="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Cash Consideration Transferred</link:label>
    <link:label id="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1_documentation_en-US" xlink:label="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Cash Consideration Transferred</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:to="lab_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Other</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Other</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:to="lab_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:to="lab_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from (Repayments of) Debt</link:label>
    <link:label id="lab_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B_label_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Repayments of) Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:to="lab_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="arc" />
    <link:label id="lab_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets Acquired</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Trade Names</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTradeNames" xlink:label="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:to="lab_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="arc" />
    <link:label id="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D_terseLabel_en-US" xlink:label="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite Lived Property Management Contracts</link:label>
    <link:label id="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D_label_en-US" xlink:label="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite Lived Property Management Contracts</link:label>
    <link:label id="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D_documentation_en-US" xlink:label="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indefinite Lived Property Management Contracts</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedPropertyManagementContracts" xlink:label="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:to="lab_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, after Year Five</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, after Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:to="lab_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Long-Term Debt</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Aggregate Maturities For Debt Outstanding</link:label>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-term Debt [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:type="arc" />
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:type="arc" />
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization and Business</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F_label_en-US" xlink:label="lab_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Investments [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermInvestmentsAbstract" xlink:label="loc_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:to="lab_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Affiliates</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7_label_en-US" xlink:label="lab_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:to="lab_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease, Cost [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F_label_en-US" xlink:label="lab_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease, Cost [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCostTableTextBlock" xlink:label="loc_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:to="lab_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flow, Supplemental Disclosures [Text Block]</link:label>
    <link:label id="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048_label_en-US" xlink:label="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flow, Supplemental Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:to="lab_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:type="arc" />
    <link:label id="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52_terseLabel_en-US" xlink:label="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]</link:label>
    <link:label id="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52_label_en-US" xlink:label="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]</link:label>
    <link:label id="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52_documentation_en-US" xlink:label="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock" xlink:label="loc_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:to="lab_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:type="arc" />
    <link:label id="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6_terseLabel_en-US" xlink:label="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Lease Payments [Table Text Block]</link:label>
    <link:label id="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6_label_en-US" xlink:label="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Lease Payments [Table Text Block]</link:label>
    <link:label id="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6_documentation_en-US" xlink:label="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Lease Payments [Table Text Block]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock" xlink:label="loc_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:to="lab_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Property, Plant and Equipment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178_label_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment by Type [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51_terseLabel_en-US" xlink:label="lab_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land Improvements [Member]</link:label>
    <link:label id="lab_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51_label_en-US" xlink:label="lab_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land Improvements [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LandImprovementsMember" xlink:label="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:to="lab_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="arc" />
    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and Building Improvements [Member]</link:label>
    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81_label_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building and Building Improvements [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:to="lab_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="arc" />
    <link:label id="lab_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1_terseLabel_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Machinery and Equipment [Member]</link:label>
    <link:label id="lab_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1_label_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Machinery and Equipment [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:to="lab_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="arc" />
    <link:label id="lab_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures [Member]</link:label>
    <link:label id="lab_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265_label_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:to="lab_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="arc" />
    <link:label id="lab_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88_terseLabel_en-US" xlink:label="lab_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Software and Software Development Costs [Member]</link:label>
    <link:label id="lab_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88_label_en-US" xlink:label="lab_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Software and Software Development Costs [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xlink:label="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:to="lab_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="arc" />
    <link:label id="lab_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B_terseLabel_en-US" xlink:label="lab_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vehicles [Member]</link:label>
    <link:label id="lab_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B_label_en-US" xlink:label="lab_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VehiclesMember" xlink:label="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:to="lab_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated life in years</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Useful Life</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="arc" />
    <link:label id="lab_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1_label_en-US" xlink:label="lab_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Financial Information Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="lab_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192_label_en-US" xlink:label="lab_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:to="lab_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of Fourth Quarter Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03_label_en-US" xlink:label="lab_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Fourth Quarter Event Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsByTypeAxis" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:to="lab_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of Fourth Quarter Events, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545_label_en-US" xlink:label="lab_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Fourth Quarter Events, Type [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsTypeDomain" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:to="lab_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="arc" />
    <link:label id="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038_verboseLabel_en-US" xlink:label="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mountain revenue</link:label>
    <link:label id="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038_label_en-US" xlink:label="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain Revenue Net</link:label>
    <link:label id="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038_documentation_en-US" xlink:label="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:to="lab_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5_verboseLabel_en-US" xlink:label="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lodging revenue</link:label>
    <link:label id="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5_label_en-US" xlink:label="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lodging Revenue Net</link:label>
    <link:label id="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5_documentation_en-US" xlink:label="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:to="lab_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:type="arc" />
    <link:label id="lab_us-gaap_Revenues_D276008533704D1526DB5D5E01709741_terseLabel_en-US" xlink:label="lab_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_D276008533704D1526DB5D5E01709741_label_en-US" xlink:label="lab_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:to="lab_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) from operations</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Income (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:to="lab_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F_label_en-US" xlink:label="lab_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:to="lab_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A_verboseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to Vail Resorts, Inc.</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:to="lab_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:to="lab_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:to="lab_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share Reconciliation [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="loc_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:to="lab_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary Of Calculation On Basic And Diluted EPS</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17_terseLabel_en-US" xlink:label="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leases of Lessee Disclosure [Text Block]</link:label>
    <link:label id="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17_label_en-US" xlink:label="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases of Lessee Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="loc_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:to="lab_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:to="lab_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Table]</link:label>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="lab_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reporting Segment [Domain]</link:label>
    <link:label id="lab_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF_label_en-US" xlink:label="lab_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="lab_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="arc" />
    <link:label id="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE_terseLabel_en-US" xlink:label="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE_label_en-US" xlink:label="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Mountain Revenue [Member]</link:label>
    <link:label id="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE_documentation_en-US" xlink:label="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Mountain Revenue [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:to="lab_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="arc" />
    <link:label id="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47_terseLabel_en-US" xlink:label="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail/Rental</link:label>
    <link:label id="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47_label_en-US" xlink:label="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Rental [Member]</link:label>
    <link:label id="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47_documentation_en-US" xlink:label="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retail Rental [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:to="lab_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="arc" />
    <link:label id="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296_terseLabel_en-US" xlink:label="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dining</link:label>
    <link:label id="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296_label_en-US" xlink:label="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dining [Member]</link:label>
    <link:label id="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296_documentation_en-US" xlink:label="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dining [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:to="lab_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="arc" />
    <link:label id="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287_terseLabel_en-US" xlink:label="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ski School</link:label>
    <link:label id="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287_label_en-US" xlink:label="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ski School [Member]</link:label>
    <link:label id="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287_documentation_en-US" xlink:label="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ski School [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:to="lab_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="arc" />
    <link:label id="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47_terseLabel_en-US" xlink:label="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lift</link:label>
    <link:label id="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47_label_en-US" xlink:label="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lift Tickets [Member]</link:label>
    <link:label id="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47_documentation_en-US" xlink:label="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lift Tickets [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:to="lab_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="arc" />
    <link:label id="lab_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8_terseLabel_en-US" xlink:label="lab_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
    <link:label id="lab_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8_label_en-US" xlink:label="lab_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:to="lab_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="arc" />
    <link:label id="lab_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2_terseLabel_en-US" xlink:label="lab_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:label id="lab_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2_label_en-US" xlink:label="lab_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="lab_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="arc" />
    <link:label id="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F_terseLabel_en-US" xlink:label="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Owned hotel rooms</link:label>
    <link:label id="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F_label_en-US" xlink:label="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Owned Hotel Revenue [Member]</link:label>
    <link:label id="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F_documentation_en-US" xlink:label="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Owned Hotel Revenue [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OwnedHotelRevenueMember" xlink:label="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:to="lab_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="arc" />
    <link:label id="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7_terseLabel_en-US" xlink:label="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Managed condominium rooms</link:label>
    <link:label id="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7_label_en-US" xlink:label="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Managed condominium rooms [Member]</link:label>
    <link:label id="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7_documentation_en-US" xlink:label="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Managed condominium rooms [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ManagedcondominiumroomsMember" xlink:label="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:to="lab_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="arc" />
    <link:label id="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A_terseLabel_en-US" xlink:label="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transportation</link:label>
    <link:label id="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A_label_en-US" xlink:label="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transportation [Member]</link:label>
    <link:label id="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A_documentation_en-US" xlink:label="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transportation [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TransportationMember" xlink:label="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:to="lab_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="arc" />
    <link:label id="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39_terseLabel_en-US" xlink:label="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Golf</link:label>
    <link:label id="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39_label_en-US" xlink:label="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Golf [Member]</link:label>
    <link:label id="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39_documentation_en-US" xlink:label="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Golf [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GolfMember" xlink:label="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:to="lab_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="arc" />
    <link:label id="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676_terseLabel_en-US" xlink:label="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676_label_en-US" xlink:label="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Lodging Revenue [Member]</link:label>
    <link:label id="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676_documentation_en-US" xlink:label="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Lodging Revenue [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLodgingRevenueMember" xlink:label="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:to="lab_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E_terseLabel_en-US" xlink:label="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lodging revenue (excluding payroll cost reimbursements) [Member]</link:label>
    <link:label id="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E_label_en-US" xlink:label="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lodging revenue (excluding payroll cost reimbursements) [Member]</link:label>
    <link:label id="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E_documentation_en-US" xlink:label="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lodging revenue (excluding payroll cost reimbursements) [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" xlink:label="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:to="lab_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="arc" />
    <link:label id="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5_terseLabel_en-US" xlink:label="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payroll cost reimbursements</link:label>
    <link:label id="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5_label_en-US" xlink:label="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payroll cost reimbursements [Member]</link:label>
    <link:label id="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5_documentation_en-US" xlink:label="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payroll cost reimbursements [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PayrollcostreimbursementsMember" xlink:label="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:to="lab_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Line Items]</link:label>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="lab_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:type="arc" />
    <link:label id="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64_terseLabel_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Revenue</link:label>
    <link:label id="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64_label_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Revenue</link:label>
    <link:label id="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64_documentation_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralRevenue" xlink:label="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:to="lab_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss, Current</link:label>
    <link:label id="lab_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:to="lab_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="arc" />
    <link:label id="lab_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B_terseLabel_en-US" xlink:label="lab_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain Revenue Net</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:to="lab_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB_terseLabel_en-US" xlink:label="lab_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lodging</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:to="lab_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="arc" />
    <link:label id="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE_terseLabel_en-US" xlink:label="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Resort net revenue</link:label>
    <link:label id="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE_label_en-US" xlink:label="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Resort Revenue Net</link:label>
    <link:label id="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE_documentation_en-US" xlink:label="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of mountain and lodging segment revenue.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:to="lab_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="arc" />
    <link:label id="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA_terseLabel_en-US" xlink:label="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate</link:label>
    <link:label id="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA_label_en-US" xlink:label="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Revenue</link:label>
    <link:label id="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA_documentation_en-US" xlink:label="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:to="lab_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="arc" />
    <link:label id="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05_terseLabel_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Costs</link:label>
    <link:label id="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05_label_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Costs</link:label>
    <link:label id="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05_documentation_en-US" xlink:label="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Season Pass Credit Deferral Costs</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralCosts" xlink:label="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:to="lab_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:to="lab_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="lab_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:to="lab_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="arc" />
    <link:label id="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091_terseLabel_en-US" xlink:label="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchangeable Shares [Member]</link:label>
    <link:label id="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091_label_en-US" xlink:label="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchangeable Shares [Member]</link:label>
    <link:label id="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091_documentation_en-US" xlink:label="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchangeable Shares [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:to="lab_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital [Member]</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Loss [Member]</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:to="lab_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury Stock [Member]</link:label>
    <link:label id="lab_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072_label_en-US" xlink:label="lab_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:to="lab_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="arc" />
    <link:label id="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF_terseLabel_en-US" xlink:label="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Vail Resorts, Inc. Stockholders' Equity [Member]</link:label>
    <link:label id="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF_label_en-US" xlink:label="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Vail Resorts, Inc. Stockholders' Equity [Member]</link:label>
    <link:label id="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF_documentation_en-US" xlink:label="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total Stockholders Equity Parent [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TotalVailResortsIncStockholdersEquityMember" xlink:label="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:to="lab_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:to="lab_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income, including portion attributable to noncontrolling interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:to="lab_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation adjustments, net of tax</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Change in estimated fair value of hedging instruments</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:to="lab_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371_terseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973_verboseLabel_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation (Note 17)</link:label>
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973_label_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:label="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:to="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="arc" />
    <link:label id="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464_terseLabel_en-US" xlink:label="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative effect for adoption of revenue standard</link:label>
    <link:label id="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464_label_en-US" xlink:label="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contracts with Customers Adoption Impact to Retained Earnings</link:label>
    <link:label id="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464_documentation_en-US" xlink:label="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue from Contracts with Customers Adoption Impact to Retained Earnings</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" xlink:label="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:to="lab_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement period adjustment</link:label>
    <link:label id="lab_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C_label_en-US" xlink:label="lab_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Purchase Accounting Adjustments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:to="lab_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="arc" />
    <link:label id="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B_terseLabel_en-US" xlink:label="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchangeable share transfers</link:label>
    <link:label id="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B_label_en-US" xlink:label="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchangeable Shares Transfer</link:label>
    <link:label id="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B_documentation_en-US" xlink:label="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchangeable Shares Transfer</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesTransfer" xlink:label="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:to="lab_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of common stock (Note 16)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="arc" />
    <link:label id="lab_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends (Note 5)</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:to="lab_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions to noncontrolling interests, net</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Goodwill [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Goodwill [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfGoodwillTable" xlink:label="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:to="lab_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A_verboseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting Information, by Segment [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="arc" />
    <link:label id="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906_terseLabel_en-US" xlink:label="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain [Member]</link:label>
    <link:label id="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906_label_en-US" xlink:label="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain [Member]</link:label>
    <link:label id="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906_documentation_en-US" xlink:label="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:to="lab_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6_terseLabel_en-US" xlink:label="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lodging [Member]</link:label>
    <link:label id="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6_label_en-US" xlink:label="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lodging [Member]</link:label>
    <link:label id="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6_documentation_en-US" xlink:label="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lodging [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingMember" xlink:label="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:to="lab_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="arc" />
    <link:label id="lab_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374_periodStartLabel_en-US" xlink:label="lab_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Goodwill, beginning balance</link:label>
    <link:label id="lab_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374_label_en-US" xlink:label="lab_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:to="lab_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744_verboseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Acquisition</link:label>
    <link:label id="lab_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744_label_en-US" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Acquired During Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:to="lab_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, Impairment Loss</link:label>
    <link:label id="lab_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC_label_en-US" xlink:label="lab_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Impairment Loss</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:to="lab_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, Translation Adjustments</link:label>
    <link:label id="lab_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285_label_en-US" xlink:label="lab_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Foreign Currency Translation Gain (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xlink:label="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:to="lab_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="arc" />
    <link:label id="lab_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69_periodEndLabel_en-US" xlink:label="lab_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Goodwill, ending balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:to="lab_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:type="arc" />
    <link:label id="lab_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E_label_en-US" xlink:label="lab_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Presentation of Net Deferred Tax Liabilities and Assets [Abstract]</link:label>
    <link:label id="lab_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E_documentation_en-US" xlink:label="lab_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Presentation of Net Deferred Tax Liabilities and Assets [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract" xlink:label="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:to="lab_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance, Noncurrent</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:to="lab_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Net, Noncurrent</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Liabilities, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:to="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Net</link:label>
    <link:label id="lab_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:to="lab_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Composition Of Property, Plant And Equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Composition Of Goodwill And Intangible Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079_label_en-US" xlink:label="lab_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Intangible Assets and Goodwill [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:to="lab_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Changes In Goodwill Amount</link:label>
    <link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Goodwill [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfGoodwillTextBlock" xlink:label="loc_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:to="lab_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components Of Accounts Payable And Accrued Liabilities</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:to="lab_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:type="arc" />
    <link:label id="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636_terseLabel_en-US" xlink:label="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components Of Other Long-Term Liabilities</link:label>
    <link:label id="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636_label_en-US" xlink:label="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Long-term Liabilities [Table Text Block]</link:label>
    <link:label id="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636_documentation_en-US" xlink:label="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Other Long-term Liabilities [Table Text Block]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock" xlink:label="loc_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:to="lab_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:type="arc" />
    <link:label id="lab_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3_label_en-US" xlink:label="lab_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment under Capital Lease [Abstract]</link:label>
    <link:label id="lab_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3_documentation_en-US" xlink:label="lab_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment under Capital Lease [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract" xlink:label="loc_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:to="lab_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146_terseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Land</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Land</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross amount, as of the balance sheet date, of real estate land held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:to="lab_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE_terseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Land Improvements</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Land Improvements</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross amount, as of the balance sheet date, of land improvements held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:to="lab_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E_verboseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Buildings and Building Improvements</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Buildings and Building Improvements</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount before accumulated depreciation of building structures held for productive use under capital lease obligations including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:to="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B_verboseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Machinery and Equipment</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Machinery and Equipment</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services under capital lease obligations.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:to="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Gross</link:label>
    <link:label id="lab_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97_label_en-US" xlink:label="lab_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:to="lab_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA_negatedNetLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Accumulated Depreciation</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Accumulated Depreciation</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) under capital lease obligations that has been recognized in the income statement.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:to="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1_terseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Net</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1_label_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leased Assets, Net</link:label>
    <link:label id="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1_documentation_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets under capital lease obligations used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:to="lab_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:to="lab_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982_terseLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset impairments</link:label>
    <link:label id="lab_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982_label_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Impairment Charges</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:to="lab_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:type="arc" />
    <link:label id="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68_terseLabel_en-US" xlink:label="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of real estate sales</link:label>
    <link:label id="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68_label_en-US" xlink:label="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Cost of Sales</link:label>
    <link:label id="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68_documentation_en-US" xlink:label="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Cost of Sales</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateCostofSales" xlink:label="loc_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:to="lab_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:to="lab_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income taxes, net</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD_verboseLabel_en-US" xlink:label="lab_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Canyons obligation accreted interest expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:to="lab_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:type="arc" />
    <link:label id="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB_terseLabel_en-US" xlink:label="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of contingent consideration</link:label>
    <link:label id="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB_label_en-US" xlink:label="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Fair Value of Contingent Consideration</link:label>
    <link:label id="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB_documentation_en-US" xlink:label="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in Fair Value of Contingent Consideration</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:to="lab_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:type="arc" />
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency loss on intercompany loans</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:type="arc" />
    <link:label id="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75_negatedTerseLabel_en-US" xlink:label="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of real property</link:label>
    <link:label id="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75_label_en-US" xlink:label="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain on sale of real property</link:label>
    <link:label id="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75_documentation_en-US" xlink:label="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains and losses included in results of operations resulting from the sale of land.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:to="lab_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other non-cash income, net</link:label>
    <link:label id="lab_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncash Income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="loc_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:to="lab_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in assets and liabilities, net of effects of acquisitions:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable, net</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Inventories, net</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Inventories</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:to="lab_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:to="lab_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income taxes payable - excess tax benefit from share award plans</link:label>
    <link:label id="lab_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9_label_en-US" xlink:label="lab_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Excess Tax Benefit from Share-based Compensation, Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" xlink:label="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:to="lab_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes payable - other</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Income Taxes Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets and liabilities, net</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets and Liabilities, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Productive Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:to="lab_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of businesses, net of cash acquired</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Businesses, Net of Cash Acquired</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:to="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other investing activities, net</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Other Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings under Vail Holdings Credit Agreement</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Lines of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:to="lab_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:type="arc" />
    <link:label id="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7_terseLabel_en-US" xlink:label="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings under Whistler Credit Agreement</link:label>
    <link:label id="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7_label_en-US" xlink:label="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Whistler Credit Agreement revolver</link:label>
    <link:label id="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7_documentation_en-US" xlink:label="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Whistler Credit Agreement revolver</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProceedsfromWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:to="lab_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings under 6.25% Notes</link:label>
    <link:label id="lab_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C_label_en-US" xlink:label="lab_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Notes Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:label="loc_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:to="lab_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:type="arc" />
    <link:label id="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE_negatedTerseLabel_en-US" xlink:label="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments of borrowings under Vail Holdings Credit Agreement</link:label>
    <link:label id="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE_label_en-US" xlink:label="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Term Loan</link:label>
    <link:label id="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE_documentation_en-US" xlink:label="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repayments of Term Loan</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofTermLoan" xlink:label="loc_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:to="lab_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:type="arc" />
    <link:label id="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6_negatedTerseLabel_en-US" xlink:label="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments of borrowings under Whistler Credit Agreement</link:label>
    <link:label id="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6_label_en-US" xlink:label="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Whistler Credit Agreement revolver</link:label>
    <link:label id="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6_documentation_en-US" xlink:label="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repayments of Whistler Credit Agreement revolver</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:to="lab_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Employee taxes paid for share award exercises</link:label>
    <link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D_label_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment, Tax Withholding, Share-based Payment Arrangement</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:to="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends paid</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Dividends</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:to="lab_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financing activities, net</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from (Payments for) Other Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:to="lab_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash, cash equivalents and restricted cash</link:label>
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788_label_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:to="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash, cash equivalents and restricted cash:</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease) [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">End of period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:to="lab_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Taxes paid, net</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="loc_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:to="lab_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued capital expenditures</link:label>
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0_label_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:to="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:type="arc" />
    <link:label id="lab_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7_label_en-US" xlink:label="lab_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs to Obtain Contracts with Customers [Abstract]</link:label>
    <link:label id="lab_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7_documentation_en-US" xlink:label="lab_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costs to Obtain Contracts with Customers [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CoststoObtainContractswithCustomersAbstract" xlink:label="loc_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:to="lab_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized Contract Cost, Net</link:label>
    <link:label id="lab_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC_label_en-US" xlink:label="lab_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized Contract Cost, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedContractCostNet" xlink:label="loc_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:to="lab_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized Contract Cost, Amortization</link:label>
    <link:label id="lab_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5_label_en-US" xlink:label="lab_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized Contract Cost, Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedContractCostAmortization" xlink:label="loc_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:to="lab_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:type="arc" />
    <link:label id="lab_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B_label_en-US" xlink:label="lab_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income (Parenthetical) [Abstract]</link:label>
    <link:label id="lab_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B_documentation_en-US" xlink:label="lab_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income (Parenthetical) [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StatementofComprehensiveIncomeParentheticalAbstract" xlink:label="loc_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:to="lab_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:type="arc" />
    <link:label id="lab_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B_terseLabel_en-US" xlink:label="lab_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation Adjustment Functional to Reporting Currency, Tax Benefit (Expense)</link:label>
    <link:label id="lab_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B_label_en-US" xlink:label="lab_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Translation Adjustment Functional to Reporting Currency, Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit" xlink:label="loc_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:to="lab_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables, allowances</link:label>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:to="lab_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:type="arc" />
    <link:label id="lab_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories, reserves</link:label>
    <link:label id="lab_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7_label_en-US" xlink:label="lab_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory Valuation Reserves</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryValuationReserves" xlink:label="loc_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:to="lab_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, par value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:to="lab_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:to="lab_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:to="lab_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:to="lab_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:type="arc" />
    <link:label id="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007_terseLabel_en-US" xlink:label="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchangeable Shares Par Value Per Share</link:label>
    <link:label id="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007_label_en-US" xlink:label="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchangeable Shares Par Value Per Share</link:label>
    <link:label id="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007_documentation_en-US" xlink:label="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchangeable Shares Par Value Per Share</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesParValuePerShare" xlink:label="loc_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:to="lab_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:type="arc" />
    <link:label id="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1_terseLabel_en-US" xlink:label="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchangeable Shares, Shares, Issued</link:label>
    <link:label id="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1_label_en-US" xlink:label="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchangeable Shares, Shares, Issued</link:label>
    <link:label id="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1_documentation_en-US" xlink:label="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchangeable Shares, Shares, Issued</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesSharesIssued" xlink:label="loc_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:to="lab_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock, shares</link:label>
    <link:label id="lab_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F_label_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:to="lab_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:to="lab_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="arc" />
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028_terseLabel_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Common</link:label>
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028_label_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Common</link:label>
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028_documentation_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Common</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingCommon" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:to="lab_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="arc" />
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679_terseLabel_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Exchangeable</link:label>
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679_label_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Exchangeable</link:label>
    <link:label id="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679_documentation_en-US" xlink:label="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Exchangeable</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingExchangeable" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:to="lab_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Effect of dilutive securities, diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number Diluted Shares Outstanding Adjustment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:to="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic net income per share attributable to Vail Resorts, Inc.</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:to="lab_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Diluted net income per share attributable to Vail Resorts, Inc.</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:to="lab_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4_verboseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Anti-dilutive securities (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:to="lab_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash dividends declared per share (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends (Note 3)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:to="lab_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="arc" />
    <link:label id="lab_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplementary Balance Sheet Information</link:label>
    <link:label id="lab_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202_label_en-US" xlink:label="lab_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Balance Sheet Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SupplementalBalanceSheetDisclosuresTextBlock" xlink:label="loc_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:to="lab_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="arc" />
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="arc" />
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="arc" />
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2_terseLabel_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Funds [Member]</link:label>
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2_label_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Funds [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:to="lab_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Paper [Member]</link:label>
    <link:label id="lab_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2_label_en-US" xlink:label="lab_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Paper [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommercialPaperMember" xlink:label="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:to="lab_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A_terseLabel_en-US" xlink:label="lab_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Certificates of Deposit [Member]</link:label>
    <link:label id="lab_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A_label_en-US" xlink:label="lab_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certificates of Deposit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:to="lab_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:to="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1 [Member]</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:to="lab_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2 [Member]</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:to="lab_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 [Member]</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:to="lab_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration Arrangements, Description</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration Arrangements, Description</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="arc" />
    <link:label id="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D_terseLabel_en-US" xlink:label="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent Consideration, Key Assumptions for Valuation</link:label>
    <link:label id="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D_label_en-US" xlink:label="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent Consideration, Key Assumptions for Valuation</link:label>
    <link:label id="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D_documentation_en-US" xlink:label="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The key inputs of the arrangement and market participant assumptions considered when developing the assumptions used to determine the fair value of the arrangement.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationKeyAssumptionsforValuation" xlink:label="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:to="lab_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="arc" />
    <link:label id="lab_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0_terseLabel_en-US" xlink:label="lab_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description</link:label>
    <link:label id="lab_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0_label_en-US" xlink:label="lab_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription" xlink:label="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:to="lab_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Cash Flow Hedge Liability at Fair Value</link:label>
    <link:label id="lab_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8_label_en-US" xlink:label="lab_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Cash Flow Hedge Liability at Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:to="lab_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="arc" />
    <link:label id="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7_terseLabel_en-US" xlink:label="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure</link:label>
    <link:label id="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7_label_en-US" xlink:label="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent Consideration, Fair Value Disclosure</link:label>
    <link:label id="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7_documentation_en-US" xlink:label="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value of Contingent Consideration Liability</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationFairValueDisclosure" xlink:label="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:to="lab_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments for Rent</link:label>
    <link:label id="lab_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897_label_en-US" xlink:label="lab_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Rent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRent" xlink:label="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:to="lab_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value of Contingent Consideration</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combinations [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:to="lab_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="lab_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Information [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Information [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:to="lab_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:to="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:to="lab_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="arc" />
    <link:label id="lab_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:to="lab_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="lab_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:type="arc" />
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable, net of allowances of $2,484 and $724, respectively</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:to="lab_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:type="arc" />
    <link:label id="lab_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories, net of reserves of $4,447 and $2,031, respectively</link:label>
    <link:label id="lab_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6_label_en-US" xlink:label="lab_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:to="lab_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A_label_en-US" xlink:label="lab_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:to="lab_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</link:label>
    <link:label id="lab_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720_label_en-US" xlink:label="lab_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:to="lab_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, net (Note 8)</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:type="arc" />
    <link:label id="lab_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate held for sale and investment</link:label>
    <link:label id="lab_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1_label_en-US" xlink:label="lab_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryRealEstate" xlink:label="loc_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:to="lab_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred charges and other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2_label_en-US" xlink:label="lab_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets, Noncurrent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:to="lab_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:type="arc" />
    <link:label id="lab_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A_verboseLabel_en-US" xlink:label="lab_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, net (Note 8)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:to="lab_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:type="arc" />
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net (Note 8)</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating right-of-use assets (Note 4)</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Right-of-Use Asset</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:to="lab_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:type="arc" />
    <link:label id="lab_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B_label_en-US" xlink:label="lab_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:to="lab_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Stockholders&#8217; Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:type="arc" />
    <link:label id="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A_terseLabel_en-US" xlink:label="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued liabilities (Note 8)</link:label>
    <link:label id="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A_label_en-US" xlink:label="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable Accrued Liabilities</link:label>
    <link:label id="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A_documentation_en-US" xlink:label="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:to="lab_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes payable</link:label>
    <link:label id="lab_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8_label_en-US" xlink:label="lab_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Income Taxes, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="loc_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:to="lab_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt due within one year (Note 6)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C_label_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt and Lease Obligation, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:to="lab_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500_label_en-US" xlink:label="lab_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:to="lab_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, net (Note 6)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00_label_en-US" xlink:label="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt and Lease Obligation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:to="lab_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating lease liabilities (Note 4)</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability, Noncurrent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:to="lab_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:type="arc" />
    <link:label id="lab_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A_verboseLabel_en-US" xlink:label="lab_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other long-term liabilities (Note 8)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:to="lab_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income taxes, net (Note 11)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:to="lab_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:type="arc" />
    <link:label id="lab_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810_label_en-US" xlink:label="lab_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:to="lab_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5_verboseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 13)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:to="lab_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders&#8217; equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding</link:label>
    <link:label id="lab_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:to="lab_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Common stock, $0.01 par value, 100,000 shares authorized and 46,350 and 46,190 shares issued, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6_label_en-US" xlink:label="lab_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:to="lab_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:type="arc" />
    <link:label id="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B_terseLabel_en-US" xlink:label="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchangeable shares, $0.01 par value, 36 and 56 shares issued and outstanding, respectively (Note 5)</link:label>
    <link:label id="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B_label_en-US" xlink:label="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchangeable Shares, Value, Issued</link:label>
    <link:label id="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B_documentation_en-US" xlink:label="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aggregate par or stated value of issued Exchangeable shares.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesValueIssued" xlink:label="loc_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:to="lab_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital, Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock, at cost; 6,161 and 5,905 shares, respectively (Note 16)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:to="lab_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Vail Resorts, Inc. stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:to="lab_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0_label_en-US" xlink:label="lab_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:to="lab_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78_label_en-US" xlink:label="lab_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments, Geographical Areas [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentsGeographicalAreasAbstract" xlink:label="loc_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:to="lab_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="arc" />
    <link:label id="lab_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:to="lab_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="arc" />
    <link:label id="lab_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Countries [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="lab_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="arc" />
    <link:label id="lab_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C_terseLabel_en-US" xlink:label="lab_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canadian [Member]</link:label>
    <link:label id="lab_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C_label_en-US" xlink:label="lab_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canada Revenue Agency [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CanadaRevenueAgencyMember" xlink:label="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:to="lab_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Foreign [Member]</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Foreign [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionForeignMember" xlink:label="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:to="lab_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Domestic [Member]</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Domestic [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionDomesticMember" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:to="lab_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="arc" />
    <link:label id="lab_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:label id="lab_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545_label_en-US" xlink:label="lab_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:to="lab_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="arc" />
    <link:label id="lab_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:label id="lab_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:to="lab_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E_terseLabel_en-US" xlink:label="lab_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsegments [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E_label_en-US" xlink:label="lab_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsegments [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsAxis" xlink:label="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:to="lab_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B_terseLabel_en-US" xlink:label="lab_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsegments [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B_label_en-US" xlink:label="lab_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsegments [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsDomain" xlink:label="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:to="lab_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379_terseLabel_en-US" xlink:label="lab_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsegments Consolidation Items [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379_label_en-US" xlink:label="lab_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsegments Consolidation Items [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsAxis" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:to="lab_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA_terseLabel_en-US" xlink:label="lab_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsegments Consolidation Items [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA_label_en-US" xlink:label="lab_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsegments Consolidation Items [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsDomain" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:to="lab_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:to="lab_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="arc" />
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C_terseLabel_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]</link:label>
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C_label_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]</link:label>
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C_documentation_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:to="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="arc" />
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investment, Equity Method Investee, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="arc" />
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investee, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="lab_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="arc" />
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985_terseLabel_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC ("SSF/VARE") [Member]</link:label>
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985_label_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Slifer Smith and Frampton and Vail Associates Real Estate LLC [Member]</link:label>
    <link:label id="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985_documentation_en-US" xlink:label="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Slifer, Smith, and Frampton and Vail Associates Real Estate, LLC (SSF and VARE) [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:to="lab_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="arc" />
    <link:label id="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8_terseLabel_en-US" xlink:label="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Keystone and Intrawest Llc [Member]</link:label>
    <link:label id="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8_label_en-US" xlink:label="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Keystone and Intrawest Llc [Member]</link:label>
    <link:label id="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8_documentation_en-US" xlink:label="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Keystone and Intrawest, LLC [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_KeystoneAndIntrawestLlcMember" xlink:label="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:to="lab_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="arc" />
    <link:label id="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F_terseLabel_en-US" xlink:label="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Clinton Ditch and Reservoir Company [Member]</link:label>
    <link:label id="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F_label_en-US" xlink:label="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Clinton Ditch and Reservoir Company [Member]</link:label>
    <link:label id="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F_documentation_en-US" xlink:label="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Clinton Ditch and Reservoir Company [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ClintonDitchAndReservoirCompanyMember" xlink:label="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:to="lab_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate revenue from leases</link:label>
    <link:label id="lab_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705_label_en-US" xlink:label="lab_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Related Parties</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:to="lab_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in equity method affiliates</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:to="lab_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Undistributed earnings of equity method affiliates</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, Undistributed Earnings from Equity Method Investees</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees" xlink:label="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:to="lab_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="arc" />
    <link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current federal</link:label>
    <link:label id="lab_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E_label_en-US" xlink:label="lab_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Federal Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:to="lab_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current state</link:label>
    <link:label id="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB_label_en-US" xlink:label="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current State and Local Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:to="lab_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D_terseLabel_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Foreign Tax Expense (Benefit)</link:label>
    <link:label id="lab_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D_label_en-US" xlink:label="lab_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Foreign Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:to="lab_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:type="arc" />
    <link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3_totalLabel_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current</link:label>
    <link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3_label_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:to="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred federal</link:label>
    <link:label id="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682_label_en-US" xlink:label="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Federal Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:to="lab_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred state</link:label>
    <link:label id="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC_label_en-US" xlink:label="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred State and Local Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:to="lab_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Foreign Income Tax Expense (Benefit)</link:label>
    <link:label id="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A_label_en-US" xlink:label="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Foreign Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:to="lab_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Provision for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:type="arc" />
    <link:label id="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6_terseLabel_en-US" xlink:label="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Resort [Member]</link:label>
    <link:label id="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6_label_en-US" xlink:label="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Resort [Member]</link:label>
    <link:label id="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6_documentation_en-US" xlink:label="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Resort [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortMember" xlink:label="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:to="lab_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Member]</link:label>
    <link:label id="lab_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550_label_en-US" xlink:label="lab_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateMember" xlink:label="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:to="lab_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="arc" />
    <link:label id="lab_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315_netLabel_en-US" xlink:label="lab_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Total Mountain net revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:to="lab_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="arc" />
    <link:label id="lab_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B_totalLabel_en-US" xlink:label="lab_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Resort net revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:to="lab_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="arc" />
    <link:label id="lab_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:to="lab_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="arc" />
    <link:label id="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77_terseLabel_en-US" xlink:label="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain</link:label>
    <link:label id="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77_label_en-US" xlink:label="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain Expenses Net</link:label>
    <link:label id="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77_documentation_en-US" xlink:label="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costs incurred that are directly related to generating mountain revenue, including labor and labor-related benefits, retail cost of sales, resort related fees and general and administrative expenses.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainExpensesNet" xlink:label="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:to="lab_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E_terseLabel_en-US" xlink:label="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lodging</link:label>
    <link:label id="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E_label_en-US" xlink:label="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lodging Expenses Net</link:label>
    <link:label id="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E_documentation_en-US" xlink:label="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingExpensesNet" xlink:label="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:to="lab_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="arc" />
    <link:label id="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354_totalLabel_en-US" xlink:label="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Resort</link:label>
    <link:label id="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354_label_en-US" xlink:label="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Resort Expenses Net</link:label>
    <link:label id="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354_documentation_en-US" xlink:label="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of mountain and lodging segment operating expenses, net.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:to="lab_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="arc" />
    <link:label id="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2_terseLabel_en-US" xlink:label="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate</link:label>
    <link:label id="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2_label_en-US" xlink:label="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real estate expense</link:label>
    <link:label id="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2_documentation_en-US" xlink:label="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:to="lab_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="arc" />
    <link:label id="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82_totalLabel_en-US" xlink:label="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total segment operating expense</link:label>
    <link:label id="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82_label_en-US" xlink:label="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Costs Expenses And Cost Of Sales</link:label>
    <link:label id="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82_documentation_en-US" xlink:label="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:to="lab_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="arc" />
    <link:label id="lab_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7_terseLabel_en-US" xlink:label="lab_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of real property</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:to="lab_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="arc" />
    <link:label id="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970_terseLabel_en-US" xlink:label="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain equity investment income, net</link:label>
    <link:label id="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970_label_en-US" xlink:label="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain Equity Investment Income Loss Net</link:label>
    <link:label id="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970_documentation_en-US" xlink:label="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainEquityInvestmentIncomeLossNet" xlink:label="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:to="lab_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="arc" />
    <link:label id="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A_terseLabel_en-US" xlink:label="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Reported EBITDA</link:label>
    <link:label id="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A_label_en-US" xlink:label="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earning Before Interest Taxes Depreciation and Amortization</link:label>
    <link:label id="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A_documentation_en-US" xlink:label="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Earning Before Interest Taxes Depreciation and Amortization for the Segment presented.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EarningBeforeInterestTaxesDepreciationAndAmortization" xlink:label="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:to="lab_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income before provision for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property</link:label>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:to="lab_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment Income, Interest</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:to="lab_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430_label_en-US" xlink:label="lab_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:to="lab_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Provision) benefit from income taxes (Note 11)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276_negatedLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to noncontrolling interests</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="arc" />
    <link:label id="lab_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E_label_en-US" xlink:label="lab_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of Income Before Income Taxes [Abstract]</link:label>
    <link:label id="lab_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E_documentation_en-US" xlink:label="lab_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Components of Income Before Income Taxes [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract" xlink:label="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:to="lab_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Domestic</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Domestic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Foreign</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Foreign</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:type="arc" />
    <link:label id="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714_terseLabel_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee contribution percentage</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714_label_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan Employee Contribution Percentage</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714_documentation_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Maximum Employee Contribution Percentage</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanEmployeeContributionPercentage" xlink:label="loc_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:to="lab_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company match amount equal to participant's contribution</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:label="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:to="lab_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:type="arc" />
    <link:label id="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006_terseLabel_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employer contribution matching equal to 50%</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006_label_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan Employer Contribution Percentage</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006_documentation_en-US" xlink:label="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Maximum Employer Contribution Percentage</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanEmployerContributionPercentage" xlink:label="loc_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:to="lab_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:type="arc" />
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67_terseLabel_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employment period (in months)</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67_label_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan Individual Requisite Employment Period In Months</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67_documentation_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Requisite Employment Period in Months to be eligible for the Company's matching contributions if 1,000 service hours are worked.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths" xlink:label="loc_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:to="lab_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:type="arc" />
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB_terseLabel_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Service period (in hours)</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB_label_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan Individual Requisite Service Period In Hours</link:label>
    <link:label id="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB_documentation_en-US" xlink:label="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Requisite Employment Period in Hours within a consecutive 12 month period to be eligible for the Company's matching contributions.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours" xlink:label="loc_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:to="lab_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:type="arc" />
    <link:label id="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42_terseLabel_en-US" xlink:label="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total service period (in hours)</link:label>
    <link:label id="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42_label_en-US" xlink:label="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined ContributionPlan Individual Requisite Total Service Period In Hours</link:label>
    <link:label id="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42_documentation_en-US" xlink:label="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Requisite Employment Period in Hours to be eligible for the Company's matching contributions.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours" xlink:label="loc_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:to="lab_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:type="arc" />
    <link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC_terseLabel_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retirement plan expense</link:label>
    <link:label id="lab_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC_label_en-US" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="loc_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:to="lab_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:type="arc" />
    <link:label id="lab_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1_label_en-US" xlink:label="lab_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information [Abstract]</link:label>
    <link:label id="lab_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1_documentation_en-US" xlink:label="lab_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Document And Entity Information [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DocumentAndEntityInformationAbstract" xlink:label="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="lab_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:type="arc" />
    <link:label id="lab_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2_label_en-US" xlink:label="lab_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="loc_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:to="lab_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:type="arc" />
    <link:label id="lab_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF_label_en-US" xlink:label="lab_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="loc_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:to="lab_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:type="arc" />
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:to="lab_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:type="arc" />
    <link:label id="lab_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D_label_en-US" xlink:label="lab_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="loc_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:to="lab_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:type="arc" />
    <link:label id="lab_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA_terseLabel_en-US" xlink:label="lab_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:label id="lab_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA_label_en-US" xlink:label="lab_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="loc_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:to="lab_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:type="arc" />
    <link:label id="lab_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5_terseLabel_en-US" xlink:label="lab_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5_label_en-US" xlink:label="lab_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:to="lab_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:type="arc" />
    <link:label id="lab_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50_label_en-US" xlink:label="lab_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:to="lab_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:type="arc" />
    <link:label id="lab_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:to="lab_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:to="lab_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:to="lab_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:type="arc" />
    <link:label id="lab_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1_label_en-US" xlink:label="lab_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:to="lab_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:type="arc" />
    <link:label id="lab_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:to="lab_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:type="arc" />
    <link:label id="lab_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:to="lab_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:type="arc" />
    <link:label id="lab_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886_label_en-US" xlink:label="lab_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:to="lab_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:type="arc" />
    <link:label id="lab_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269_label_en-US" xlink:label="lab_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="loc_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:to="lab_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:type="arc" />
    <link:label id="lab_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C_label_en-US" xlink:label="lab_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="loc_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:to="lab_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:type="arc" />
    <link:label id="lab_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:to="lab_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:type="arc" />
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:type="arc" />
    <link:label id="lab_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1_terseLabel_en-US" xlink:label="lab_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:label id="lab_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1_label_en-US" xlink:label="lab_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:to="lab_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:type="arc" />
    <link:label id="lab_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:to="lab_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:type="arc" />
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:to="lab_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:type="arc" />
    <link:label id="lab_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F_terseLabel_en-US" xlink:label="lab_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:label id="lab_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F_label_en-US" xlink:label="lab_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:to="lab_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:type="arc" />
    <link:label id="lab_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12_label_en-US" xlink:label="lab_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:to="lab_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:type="arc" />
    <link:label id="lab_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:to="lab_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:type="arc" />
    <link:label id="lab_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:to="lab_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:type="arc" />
    <link:label id="lab_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:to="lab_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:type="arc" />
    <link:label id="lab_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:to="lab_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:type="arc" />
    <link:label id="lab_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:to="lab_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:type="arc" />
    <link:label id="lab_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129_label_en-US" xlink:label="lab_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:to="lab_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:type="arc" />
    <link:label id="lab_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD_label_en-US" xlink:label="lab_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:to="lab_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:type="arc" />
    <link:label id="lab_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2_label_en-US" xlink:label="lab_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:to="lab_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:type="arc" />
    <link:label id="lab_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:to="lab_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:type="arc" />
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE_terseLabel_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE_label_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_IcfrAuditorAttestationFlag" xlink:label="loc_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:to="lab_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:to="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:to="lab_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="lab_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="arc" />
    <link:label id="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8_terseLabel_en-US" xlink:label="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8_label_en-US" xlink:label="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8_documentation_en-US" xlink:label="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain Operating Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainOperatingExpenseMember" xlink:label="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:to="lab_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="arc" />
    <link:label id="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852_terseLabel_en-US" xlink:label="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lodging Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852_label_en-US" xlink:label="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lodging Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852_documentation_en-US" xlink:label="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lodging Operating Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingOperatingExpenseMember" xlink:label="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:to="lab_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="arc" />
    <link:label id="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512_terseLabel_en-US" xlink:label="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512_label_en-US" xlink:label="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Operating Expense [Member]</link:label>
    <link:label id="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512_documentation_en-US" xlink:label="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Operating Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateOperatingExpenseMember" xlink:label="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:to="lab_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-tax stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: benefit for income taxes</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expense, Tax Benefit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91_totalLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expense, after Tax</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Five</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:type="arc" />
    <link:label id="lab_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50_verboseLabel_en-US" xlink:label="lab_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense</link:label>
    <link:label id="lab_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50_label_en-US" xlink:label="lab_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:to="lab_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:type="arc" />
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquityAbstract" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Repurchase Plan</link:label>
    <link:label id="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9_label_en-US" xlink:label="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Treasury Stock [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:label="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:to="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Change in Accounting Estimate [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD_label_en-US" xlink:label="lab_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Change in Accounting Estimate [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfChangeInAccountingEstimateTable" xlink:label="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="lab_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="arc" />
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets [Axis]</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill [Member]</link:label>
    <link:label id="lab_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323_label_en-US" xlink:label="lab_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillMember" xlink:label="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:to="lab_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Member]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A_terseLabel_en-US" xlink:label="lab_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes and Loans Payable</link:label>
    <link:label id="lab_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A_label_en-US" xlink:label="lab_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes and Loans Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesAndLoansPayable" xlink:label="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:to="lab_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Fair Value Disclosure</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:to="lab_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment to goodwill or intangible assets</link:label>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill and Intangible Asset Impairment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C_terseLabel_en-US" xlink:label="lab_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advertising expense</link:label>
    <link:label id="lab_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C_label_en-US" xlink:label="lab_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advertising Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:to="lab_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:to="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:to="lab_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability, Current</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:to="lab_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="arc" />
    <link:label id="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10_terseLabel_en-US" xlink:label="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right-of-use asset adjustments</link:label>
    <link:label id="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10_label_en-US" xlink:label="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-use asset adjustments</link:label>
    <link:label id="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10_documentation_en-US" xlink:label="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Favorable and unfavorable lease balances, deferred rent credits and other amounts that will adjust the right-of-use asset upon adoption of ASC 842.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Rightofuseassetadjustments" xlink:label="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:to="lab_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="loc_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:to="lab_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF_terseLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases [Table]</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesTable" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1_terseLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Date [Axis]</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Date [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateAxis" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E_terseLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Date [Domain]</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Date [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateDomain" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A_terseLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases [Line Items]</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesLineItems" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury Stock, Shares, Acquired</link:label>
    <link:label id="lab_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB_label_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Shares, Acquired</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:to="lab_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC_verboseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of shares authorized to repurchase</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Number of Shares Authorized to be Repurchased</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:to="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:type="arc" />
    <link:label id="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C_verboseLabel_en-US" xlink:label="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Additional number of shares authorized to repurchase</link:label>
    <link:label id="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C_label_en-US" xlink:label="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased</link:label>
    <link:label id="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C_documentation_en-US" xlink:label="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:to="lab_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F_verboseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of shares repurchased since inception</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:to="lab_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:type="arc" />
    <link:label id="lab_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value of stock repurchased since inception</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:to="lab_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9_verboseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Remaining shares available for repurchase under existing program</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:to="lab_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:to="lab_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net revenue:</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="lab_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:type="arc" />
    <link:label id="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598_terseLabel_en-US" xlink:label="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain and Lodging services and other</link:label>
    <link:label id="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598_label_en-US" xlink:label="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain and Lodging services and other revenue</link:label>
    <link:label id="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598_documentation_en-US" xlink:label="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain and Lodging services and other revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingservicesandotherrevenue" xlink:label="loc_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:to="lab_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:type="arc" />
    <link:label id="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4_terseLabel_en-US" xlink:label="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain and Lodging retail and dining</link:label>
    <link:label id="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4_label_en-US" xlink:label="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain and Lodging retail and dining revenue</link:label>
    <link:label id="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4_documentation_en-US" xlink:label="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain and Lodging retail and dining revenue</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingretailanddiningrevenue" xlink:label="loc_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:to="lab_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total segment operating expense</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="lab_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:type="arc" />
    <link:label id="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015_terseLabel_en-US" xlink:label="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain and Lodging operating expense</link:label>
    <link:label id="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015_label_en-US" xlink:label="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain and Lodging operating expenses</link:label>
    <link:label id="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015_documentation_en-US" xlink:label="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain and Lodging operating expenses</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingoperatingexpenses" xlink:label="loc_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:to="lab_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:type="arc" />
    <link:label id="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92_terseLabel_en-US" xlink:label="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain and Lodging retail and dining cost of products sold</link:label>
    <link:label id="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92_label_en-US" xlink:label="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain and Lodging cost of products sold</link:label>
    <link:label id="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92_documentation_en-US" xlink:label="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain and Lodging retail and dining cost of products sold</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingcostofproductssold" xlink:label="loc_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:to="lab_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:type="arc" />
    <link:label id="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF_terseLabel_en-US" xlink:label="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF_label_en-US" xlink:label="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain and Lodging general and administrative expense</link:label>
    <link:label id="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF_documentation_en-US" xlink:label="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain and Lodging general and administrative expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodginggeneralandadministrativeexpense" xlink:label="loc_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:to="lab_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:type="arc" />
    <link:label id="lab_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0_terseLabel_en-US" xlink:label="lab_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Resort operating expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:to="lab_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:type="arc" />
    <link:label id="lab_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D_verboseLabel_en-US" xlink:label="lab_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, net</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:to="lab_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:type="arc" />
    <link:label id="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F_terseLabel_en-US" xlink:label="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating (expense) income:</link:label>
    <link:label id="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F_label_en-US" xlink:label="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Operating Expenses And Income [Abstract]</link:label>
    <link:label id="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F_documentation_en-US" xlink:label="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other operating expenses and income abstract.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherOperatingExpensesAndIncomeAbstract" xlink:label="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="lab_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E_negatedLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:to="lab_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Asset impairments (Notes 2 &amp; 8)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:to="lab_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:type="arc" />
    <link:label id="lab_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138_negatedLabel_en-US" xlink:label="lab_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of contingent consideration (Note 10)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:to="lab_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9_verboseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on disposal of fixed assets and other, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:to="lab_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from operations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:to="lab_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investment income and other, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:to="lab_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:to="lab_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before (provision) benefit from income taxes</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:to="lab_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to Vail Resorts, Inc.</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:to="lab_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Per share amounts (Note 5):</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:to="lab_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash dividends declared per share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:type="arc" />
    <link:label id="lab_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F_label_en-US" xlink:label="lab_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract Balances [Abstract]</link:label>
    <link:label id="lab_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F_documentation_en-US" xlink:label="lab_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contract Balances [Abstract]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContractBalancesAbstract" xlink:label="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="lab_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Revenue, Current</link:label>
    <link:label id="lab_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6_label_en-US" xlink:label="lab_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:to="lab_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC_terseLabel_en-US" xlink:label="lab_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contract with Customer, Liability</link:label>
    <link:label id="lab_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC_label_en-US" xlink:label="lab_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract with Customer, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="loc_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:to="lab_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8_terseLabel_en-US" xlink:label="lab_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognition of Deferred Revenue</link:label>
    <link:label id="lab_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8_label_en-US" xlink:label="lab_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contract with Customer, Liability, Revenue Recognized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:to="lab_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:type="arc" />
    <link:label id="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62_terseLabel_en-US" xlink:label="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Private Club Recognized Initiation Fees Average Remaining Period</link:label>
    <link:label id="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62_label_en-US" xlink:label="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Private Club Recognized Initiation Fees Average Remaining Period</link:label>
    <link:label id="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62_documentation_en-US" xlink:label="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recognized private club initiation fees, average remaining period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod" xlink:label="loc_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:to="lab_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:type="arc" />
    <link:label id="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0_terseLabel_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro Forma Financial Information [Table]</link:label>
    <link:label id="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0_label_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pro Forma Financial Information [Table]</link:label>
    <link:label id="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0_documentation_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pro Forma Financial Information [Table]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationTable" xlink:label="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="lab_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="arc" />
    <link:label id="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E_terseLabel_en-US" xlink:label="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Perisher [Member]</link:label>
    <link:label id="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E_label_en-US" xlink:label="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Perisher [Member]</link:label>
    <link:label id="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E_documentation_en-US" xlink:label="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Perisher [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:to="lab_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="arc" />
    <link:label id="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1_terseLabel_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro Forma Financial Information [Line Items]</link:label>
    <link:label id="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1_label_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pro Forma Financial Information [Line Items]</link:label>
    <link:label id="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1_documentation_en-US" xlink:label="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Line Items] for Pro Forma Financial Information [Table]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationLineItems" xlink:label="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="lab_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro forma net revenue</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:to="lab_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro forma net income attributable to Vail Resorts, Inc.</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Net Income (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:to="lab_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro forma basic net income per share attributable to Vail Resorts, Inc.</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Earnings Per Share, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:to="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Pro Forma Earnings Per Share, Diluted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:to="lab_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selected Quarterly Financial Data</link:label>
    <link:label id="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0_label_en-US" xlink:label="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Financial Information [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:to="lab_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_0BC61CE7278E1BC47AEA8396D74EC389_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_0BC61CE7278E1BC47AEA8396D74EC389" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_0BC61CE7278E1BC47AEA8396D74EC389" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_0BC61CE7278E1BC47AEA8396D74EC389" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_0BC61CE7278E1BC47AEA8396D74EC389" xlink:type="arc" />
    <link:label id="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8_terseLabel_en-US" xlink:label="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Falls Creek and Hotham [Member]</link:label>
    <link:label id="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8_label_en-US" xlink:label="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Falls Creek and Hotham [Member]</link:label>
    <link:label id="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8_documentation_en-US" xlink:label="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Falls Creek and Hotham [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:to="lab_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="arc" />
    <link:label id="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4_terseLabel_en-US" xlink:label="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stevens Pass [Member]</link:label>
    <link:label id="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4_label_en-US" xlink:label="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stevens Pass [Member]</link:label>
    <link:label id="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4_documentation_en-US" xlink:label="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stevens Pass [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StevensPassMember" xlink:label="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:to="lab_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="arc" />
    <link:label id="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512_terseLabel_en-US" xlink:label="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Triple Peaks, LLC [Member]</link:label>
    <link:label id="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512_label_en-US" xlink:label="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Triple Peaks, LLC [Member]</link:label>
    <link:label id="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512_documentation_en-US" xlink:label="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Triple Peaks, LLC [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TriplePeaksLLCMember" xlink:label="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:to="lab_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Weighted Average Remaining Lease Term</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Weighted Average Remaining Lease Term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:to="lab_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Payments</link:label>
    <link:label id="lab_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E_label_en-US" xlink:label="lab_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Payments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:to="lab_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Right-of-Use Asset, Amortization</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Right-of-Use Asset, Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:to="lab_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Interest Expense</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseInterestExpense" xlink:label="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:to="lab_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Expense</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:to="lab_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term Lease, Cost</link:label>
    <link:label id="lab_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017_label_en-US" xlink:label="lab_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term Lease, Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermLeaseCost" xlink:label="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:to="lab_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43_terseLabel_en-US" xlink:label="lab_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Lease, Cost</link:label>
    <link:label id="lab_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43_label_en-US" xlink:label="lab_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Lease, Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableLeaseCost" xlink:label="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:to="lab_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="arc" />
    <link:label id="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336_terseLabel_en-US" xlink:label="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Cash Outflows for Finance Leases</link:label>
    <link:label id="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336_label_en-US" xlink:label="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Cash Outflows for Finance Leases</link:label>
    <link:label id="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336_documentation_en-US" xlink:label="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Cash Outflows for Finance Leases</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:to="lab_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="arc" />
    <link:label id="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0_terseLabel_en-US" xlink:label="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Cash Outflows for Finance Leases</link:label>
    <link:label id="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0_label_en-US" xlink:label="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Cash Outflows for Finance Leases</link:label>
    <link:label id="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0_documentation_en-US" xlink:label="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Cash Outflows for Finance Leases</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FinancingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:to="lab_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Weighted Average Remaining Lease Term</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Weighted Average Remaining Lease Term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:to="lab_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Weighted Average Discount Rate, Percent</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Weighted Average Discount Rate, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:to="lab_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Weighted Average Discount Rate, Percent</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Weighted Average Discount Rate, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:to="lab_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Two Years</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Two Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Two</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Two</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Three Years</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Three Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Three</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Three</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Four Years</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Four Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Four</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Four</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Five Years</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Five Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Five</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, after Year Five</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, after Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, after Year Five</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, to be Paid, after Year Five</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="arc" />
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Payment, Due</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Payment, Due</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:to="lab_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, Undiscounted Excess Amount</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, Undiscounted Excess Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Undiscounted Excess Amount</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability, Undiscounted Excess Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:to="lab_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:to="lab_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due Thereafter</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments Due</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments, Interest Included in Payments</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments, Interest Included in Payments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</link:label>
    <link:label id="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC_label_en-US" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:to="lab_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Right-of-Use Asset</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Right-of-Use Asset, after Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAsset" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:to="lab_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance Lease, Right-of-Use Asset, Accumulated Amortization</link:label>
    <link:label id="lab_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1_label_en-US" xlink:label="lab_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Lease, Right-of-Use Asset, Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:to="lab_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="arc" />
    <link:label id="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD_terseLabel_en-US" xlink:label="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessee Operating And Finance Lease Term</link:label>
    <link:label id="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD_label_en-US" xlink:label="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee Operating And Finance Lease Term</link:label>
    <link:label id="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD_documentation_en-US" xlink:label="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessee Operating And Finance Lease Term</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LesseeOperatingAndFinanceLeaseTerm" xlink:label="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:to="lab_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8_terseLabel_en-US" xlink:label="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right-of-Use Asset Obtained in Exchange for Operating Lease Liability</link:label>
    <link:label id="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8_label_en-US" xlink:label="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right-of-Use Asset Obtained in Exchange for Operating Lease Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:label="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:to="lab_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:to="lab_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50_netLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation adjustments (net of tax of $0, $0 and $1,981, respectively)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income attributable to noncontrolling interests</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income attributable to Vail Resorts, Inc.</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards by Tax Authority [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8_label_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:to="lab_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Domain]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9_label_en-US" xlink:label="lab_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="lab_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense [Member]</link:label>
    <link:label id="lab_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7_label_en-US" xlink:label="lab_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseMember" xlink:label="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:to="lab_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="arc" />
    <link:label id="lab_country_US_C7CD619EA313A4061ECFA2F555CED6C6_terseLabel_en-US" xlink:label="lab_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">UNITED STATES</link:label>
    <link:label id="lab_country_US_C7CD619EA313A4061ECFA2F555CED6C6_label_en-US" xlink:label="lab_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED STATES</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:to="lab_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Tax Authority [Member]</link:label>
    <link:label id="lab_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9_label_en-US" xlink:label="lab_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Tax Authority [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCountryMember" xlink:label="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:to="lab_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="arc" />
    <link:label id="lab_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8_terseLabel_en-US" xlink:label="lab_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">State and Local Jurisdiction [Member]</link:label>
    <link:label id="lab_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8_label_en-US" xlink:label="lab_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State and Local Jurisdiction [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:to="lab_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="arc" />
    <link:label id="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C_terseLabel_en-US" xlink:label="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net operating loss carryback</link:label>
    <link:label id="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C_label_en-US" xlink:label="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net operating loss carryback</link:label>
    <link:label id="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C_documentation_en-US" xlink:label="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net operating loss carryback</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Netoperatinglosscarryback" xlink:label="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:to="lab_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="arc" />
    <link:label id="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5_terseLabel_en-US" xlink:label="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">US Refundable Payroll Tax Credits</link:label>
    <link:label id="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5_label_en-US" xlink:label="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Refundable Payroll Tax Credits</link:label>
    <link:label id="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5_documentation_en-US" xlink:label="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US Refundable Payroll Tax Credits</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_USRefundablePayrollTaxCredits" xlink:label="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:to="lab_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Excess tax benefits related to stock-based compensation</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9_terseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating loss carryforwards, valuation allowance</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Valuation Allowance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:label="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:to="lab_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14_verboseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized tax benefits, income tax penalties and interest accrued</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax examination, penalties and interest expense</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Examination, Penalties and Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:to="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:to="lab_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Credit Carryforwards, Foreign</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Credit Carryforwards, Foreign</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="arc" />
    <link:label id="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</link:label>
    <link:label id="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D_label_en-US" xlink:label="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:label="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:to="lab_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="arc" />
    <link:label id="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4_terseLabel_en-US" xlink:label="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impacts of the Tax Act and other legislative changes</link:label>
    <link:label id="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4_label_en-US" xlink:label="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impact of Tax Reform on Rate</link:label>
    <link:label id="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4_documentation_en-US" xlink:label="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impact of Tax Reform on Rate</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ImpactofTaxReformonRate" xlink:label="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:to="lab_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="arc" />
    <link:label id="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8_terseLabel_en-US" xlink:label="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Refundable Payroll Tax Credits</link:label>
    <link:label id="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8_label_en-US" xlink:label="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Refundable Payroll Tax Credits</link:label>
    <link:label id="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8_documentation_en-US" xlink:label="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Refundable Payroll Tax Credits</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ForeignRefundablePayrollTaxCredits" xlink:label="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:to="lab_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Information</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:type="arc" />
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:to="lab_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="arc" />
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:to="lab_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:label id="lab_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960_label_en-US" xlink:label="lab_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable, Trade, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableTradeCurrent" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:to="lab_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued salaries, wages and deferred compensation</link:label>
    <link:label id="lab_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694_label_en-US" xlink:label="lab_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Salaries, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="loc_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:to="lab_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued benefits</link:label>
    <link:label id="lab_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473_label_en-US" xlink:label="lab_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Employee Benefits, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedEmployeeBenefitsCurrent" xlink:label="loc_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:to="lab_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:type="arc" />
    <link:label id="lab_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7_terseLabel_en-US" xlink:label="lab_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:label id="lab_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7_label_en-US" xlink:label="lab_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:to="lab_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other accruals</link:label>
    <link:label id="lab_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367_label_en-US" xlink:label="lab_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Accrued Liabilities, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:to="lab_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:type="arc" />
    <link:label id="lab_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101_totalLabel_en-US" xlink:label="lab_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total accounts payable and accrued liabilities</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:to="lab_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net Income Per Common Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:to="lab_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restrictions on Cash and Cash Equivalents [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restrictions on Cash and Cash Equivalents [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:to="lab_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:type="arc" />
    <link:label id="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F_terseLabel_en-US" xlink:label="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts Receivable</link:label>
    <link:label id="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F_label_en-US" xlink:label="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:label="loc_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:to="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:type="arc" />
    <link:label id="lab_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371_terseLabel_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label id="lab_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371_label_en-US" xlink:label="lab_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="loc_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:to="lab_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Held for Sale and Investment</link:label>
    <link:label id="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65_label_en-US" xlink:label="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Held for Development and Sale, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:to="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Financing Costs</link:label>
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B_label_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Charges, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredChargesPolicyTextBlock" xlink:label="loc_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:to="lab_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill and Intangible Assets</link:label>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill and Intangible Assets, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-lived Assets</link:label>
    <link:label id="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC_label_en-US" xlink:label="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:to="lab_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:to="lab_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Cost of Sales</link:label>
    <link:label id="lab_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F_label_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="loc_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:to="lab_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:to="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reserve Estimates</link:label>
    <link:label id="lab_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C_label_en-US" xlink:label="lab_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liability Reserve Estimate, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilityReserveEstimatePolicy" xlink:label="loc_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:to="lab_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C_terseLabel_en-US" xlink:label="lab_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advertising Costs</link:label>
    <link:label id="lab_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C_label_en-US" xlink:label="lab_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advertising Cost [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdvertisingCostsPolicyTextBlock" xlink:label="loc_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:to="lab_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments</link:label>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:type="arc" />
    <link:label id="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC_terseLabel_en-US" xlink:label="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration of Credit Risk</link:label>
    <link:label id="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC_label_en-US" xlink:label="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Of Credit Risk [Policy Text Block]</link:label>
    <link:label id="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC_documentation_en-US" xlink:label="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ConcentrationOfCreditRiskPolicyTextBlock" xlink:label="loc_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:to="lab_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:type="arc" />
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessee, Leases [Policy Text Block]</link:label>
    <link:label id="lab_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B_label_en-US" xlink:label="lab_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Leases [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="loc_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:to="lab_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:type="arc" />
    <link:label id="lab_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:label id="lab_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:to="lab_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:type="arc" />
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6_terseLabel_en-US" xlink:label="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Accounting Standards</link:label>
    <link:label id="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6_label_en-US" xlink:label="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of New Accounting Pronouncements Not yet Adopted [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xlink:label="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:to="lab_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:type="arc" />
    <link:label id="lab_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F_terseLabel_en-US" xlink:label="lab_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:to="lab_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:type="arc" />
    <link:label id="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8_terseLabel_en-US" xlink:label="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8_label_en-US" xlink:label="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Land Improvements Gross</link:label>
    <link:label id="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8_documentation_en-US" xlink:label="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross amount, as of the balance sheet date, of real estate held for productive use. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LandAndLandImprovementsGross" xlink:label="loc_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:to="lab_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:type="arc" />
    <link:label id="lab_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and building improvements</link:label>
    <link:label id="lab_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924_label_en-US" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Buildings and Improvements, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingsAndImprovementsGross" xlink:label="loc_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:to="lab_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:type="arc" />
    <link:label id="lab_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB_terseLabel_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Machinery and equipment</link:label>
    <link:label id="lab_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB_label_en-US" xlink:label="lab_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Machinery and Equipment, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentGross" xlink:label="loc_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:to="lab_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:type="arc" />
    <link:label id="lab_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Furniture and fixtures</link:label>
    <link:label id="lab_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404_label_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="loc_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:to="lab_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Software</link:label>
    <link:label id="lab_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A_label_en-US" xlink:label="lab_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalized Computer Software, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedComputerSoftwareGross" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:to="lab_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:type="arc" />
    <link:label id="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B_terseLabel_en-US" xlink:label="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vehicles</link:label>
    <link:label id="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B_label_en-US" xlink:label="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vehicles Gross</link:label>
    <link:label id="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B_documentation_en-US" xlink:label="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross amount, as of the balance sheet date, of long-lived, depreciable assets that include automobiles and trucks.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VehiclesGross" xlink:label="loc_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:to="lab_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction in progress</link:label>
    <link:label id="lab_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction in Progress, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressGross" xlink:label="loc_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:to="lab_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C_totalLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross property, plant and equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88_negatedLabel_en-US" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation</link:label>
    <link:label id="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88_label_en-US" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:to="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6_totalLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed assets</link:label>
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Property, Plant and Equipment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Intangible Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Leasing Arrangements</link:label>
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Leasing Arrangements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesLeasingArrangements" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Other</link:label>
    <link:label id="lab_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805_label_en-US" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Other</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Gross</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:to="lab_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:type="arc" />
    <link:label id="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4_terseLabel_en-US" xlink:label="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Asset, Talisker Canyons Obligation</link:label>
    <link:label id="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4_label_en-US" xlink:label="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Asset, Canyons Obligation</link:label>
    <link:label id="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4_documentation_en-US" xlink:label="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Tax Asset related to Talisker Canyons Obligation</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetCanyonsObligation" xlink:label="loc_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:to="lab_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Investments</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsInvestments" xlink:label="loc_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:to="lab_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred compensation and other accrued benefits</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:to="lab_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:type="arc" />
    <link:label id="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666_terseLabel_en-US" xlink:label="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfavorable lease obligation, net</link:label>
    <link:label id="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666_label_en-US" xlink:label="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Asset Unfavourable Lease Obligation</link:label>
    <link:label id="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666_documentation_en-US" xlink:label="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Asset Unfavourable Lease Obligation</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation" xlink:label="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:to="lab_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net operating loss carryforwards other tax credits</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Operating Loss Carryforwards</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:to="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:type="arc" />
    <link:label id="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA_terseLabel_en-US" xlink:label="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Operating Lease Liabilities</link:label>
    <link:label id="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA_label_en-US" xlink:label="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Operating Lease Liabilities</link:label>
    <link:label id="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA_documentation_en-US" xlink:label="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Operating Lease Liabilities</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetsOperatingLeaseLiabilities" xlink:label="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:to="lab_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other, net</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Other</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:to="lab_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:to="lab_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Valuation allowance for deferred income taxes</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Valuation Allowance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:to="lab_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B_totalLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax assets, net of valuation allowance</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:to="lab_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577_verboseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock Compensation Plan</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to Acquire Businesses, Net of Cash Acquired</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:to="lab_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" xlink:label="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:to="lab_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease Expiration Date</link:label>
    <link:label id="lab_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78_label_en-US" xlink:label="lab_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Expiration Date</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:to="lab_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, Acquired During Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:to="lab_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Summary Of Cash Equivalents Measured At Fair Value</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares issued for stock based compensation (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation award life</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Life</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Life</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation award vesting period</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation, shares available for grant (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intrinsic value of options and SARs exercised</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation, restricted shares granted (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation, restricted shares vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock based compensation, total fair value of restricted shares</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total unrecognized compensation expense</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Exercise of Option, Tax Benefit</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Exercise of Option, Tax Benefit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="arc" />
    <link:label id="lab_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Net Proceeds, Financing Activities</link:label>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Net Proceeds, Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities" xlink:label="loc_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:to="lab_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Other Real Estate</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Other Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:label="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:to="lab_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021 (1)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2024</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected volatility</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected dividends</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected term (average in years)</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk-free rate, minimum</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk-free rate, maximum</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Of Equity Method Investments In Affiliates</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentsTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:to="lab_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:type="arc" />
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Number</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of shares reserved for issuance under stock option agreements and stock appreciation rights awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options and stock appreciation rights.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards, granted (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Grants In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of grants made during the period on stock appreciation rights.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239_negatedLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, vested (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Vested In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of stock appreciation rights, that vested during the reporting period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA_negatedLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, forfeited (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Forfeited In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of stock appreciation rights, that were forfeited during the reporting period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F_periodStartLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Nonvested Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value of nonvested stock appreciation rights for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to the underlying shares or units.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, granted (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Grants In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value at grant date for nonvested stock appreciation rights issued during the period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, vested (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Vested In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value as of grant date pertaining to stock appreciation rights for which the grantee gained the right during the reporting period, by satisfying service requirements, to retain shares or units, in accordance with the terms of the arrangement.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, forfeited (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Forfeited In Period Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average fair value as of the grant date of stock appreciation rights that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Weighted-average grant-date fair value, outstanding ending balance (in dollars per share)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:to="lab_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:to="lab_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="arc" />
    <link:label id="lab_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Trademarks</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Trademarks</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTrademarks" xlink:label="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:to="lab_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1_verboseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Land</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:to="lab_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867_verboseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Land Improvements</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:to="lab_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020_terseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Buildings and Building Improvements</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:to="lab_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B_terseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Machinery and Equipment</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:to="lab_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="arc" />
    <link:label id="lab_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED_totalLabel_en-US" xlink:label="lab_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Gross (under Capital Lease)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:to="lab_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6_negatedTerseLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Accumulated Depreciation</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:to="lab_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="arc" />
    <link:label id="lab_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D_totalLabel_en-US" xlink:label="lab_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Net (under Capital Lease)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:to="lab_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="arc" />
    <link:label id="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C_terseLabel_en-US" xlink:label="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stamp Duty Expense</link:label>
    <link:label id="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C_label_en-US" xlink:label="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stamp Duty Expense</link:label>
    <link:label id="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C_documentation_en-US" xlink:label="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stamp Duty Expense</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StampDutyExpense" xlink:label="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:to="lab_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Share Based Compensation Valuation Model</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:to="lab_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Share Based Compensation Option And SARs Award Activity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share Based Compensation SARs Activity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Option, Activity [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Share Based Compensation Restricted Stock Units Activity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:to="lab_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:type="arc" />
    <link:label id="lab_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265_terseLabel_en-US" xlink:label="lab_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selected Quarterly Financial Data</link:label>
    <link:label id="lab_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265_label_en-US" xlink:label="lab_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Financial Information [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="loc_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:to="lab_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0_periodStartLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Awards, outstanding beginning balance (in shares)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6_verboseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Awards, granted (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement SARs Granted In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of grants made during the period on stock appreciation rights.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:to="lab_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:type="arc" />
    <link:label id="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED_negatedLabel_en-US" xlink:label="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, exercised (in shares)</link:label>
    <link:label id="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED_label_en-US" xlink:label="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period Shares Stock Options And SARs Exercised</link:label>
    <link:label id="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED_documentation_en-US" xlink:label="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of share options and stock appreciation rights exercised during the current period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" xlink:label="loc_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:to="lab_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01_negatedLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards, forfeited or expired (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Forfeitures And Expirations In Period</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">For presentations that combine terminations, the number of shares under options and stock appreciation rights that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the plan or that expired.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Awards, outstanding ending balance (in shares)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Awards, exercisable ending balance (in shares)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Number</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of shares into which fully or partially vested stock options and stock appreciation rights outstanding as of the balance sheet date can be currently converted under the plan.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79_periodStartLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, outstanding beginning balance (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Weighted Average Exercise Price</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the plan for options and stock appreciation rights.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB_verboseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, granted (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Granted In Period Weighted Average Exercise Price</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options and stock appreciation rights awarded under the plan during the reporting period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230_verboseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, exercised (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercises In Period Weighted Average Exercise Price</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average price at which option and stock appreciation right holders acquired shares when converting their stock options or stock appreciation rights into shares under the plan during the reporting period.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA_verboseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, forfeited or expired (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Forfeitures And Expirations In Period Weighted Average Exercise Price</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The combined weighted average exercise price associated with stock options and stock appreciation rights during the period that have either lapsed or been forfeited.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, outstanding ending balance (in dollars per share)</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8_verboseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average exercise price, exercisable ending balance (in dollars per share)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Weighted Average Exercise Price</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options and stock appreciation rights outstanding and currently exercisable under the plan.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average remaining contractual term, outstanding ending balance (in years)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share based Compensation Arrangement By Share based Payment Award Options And SARs Outstanding Weighted Average Remaining Contractual Term</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average period between the balance sheet date and expiration for all awards of options and stock appreciation rights outstanding under the plan, which may be expressed in a decimal value for number of years.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760_terseLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average remaining contractual term, exercisable ending balance (in years)</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Weighted Average Remaining Contractual Term</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The weighted average period between the balance sheet date and expiration for all vested portions of options and stock appreciation rights outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Aggregate intrinsic value, outstanding ending balance</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Intrinsic Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options and stock appreciation rights outstanding under the plan as of the balance sheet date.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:type="arc" />
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:type="arc" />
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2_periodEndLabel_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Aggregate intrinsic value, exercisable ending balance</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2_label_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share based Compensation Arrangement By Share based Payment Award Options And SARs Exercisable Intrinsic Value</link:label>
    <link:label id="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2_documentation_en-US" xlink:label="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options and stock appreciation rights outstanding and currently exercisable under the option plan as of the balance sheet date.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:to="lab_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:type="arc" />
    <link:label id="lab_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingencies [Table]</link:label>
    <link:label id="lab_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59_label_en-US" xlink:label="lab_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingencies [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="lab_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="arc" />
    <link:label id="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745_terseLabel_en-US" xlink:label="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northstar [Member]</link:label>
    <link:label id="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745_label_en-US" xlink:label="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Northstar [Member]</link:label>
    <link:label id="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745_documentation_en-US" xlink:label="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Northstar [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NorthstarMember" xlink:label="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:to="lab_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="arc" />
    <link:label id="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B_terseLabel_en-US" xlink:label="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Falls Creek [Member]</link:label>
    <link:label id="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B_label_en-US" xlink:label="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Falls Creek [Member]</link:label>
    <link:label id="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B_documentation_en-US" xlink:label="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Falls Creek [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekMember" xlink:label="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:to="lab_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="arc" />
    <link:label id="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB_terseLabel_en-US" xlink:label="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hotham [Member]</link:label>
    <link:label id="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB_label_en-US" xlink:label="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hotham [Member]</link:label>
    <link:label id="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB_documentation_en-US" xlink:label="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hotham [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HothamMember" xlink:label="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:to="lab_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="arc" />
    <link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingencies by Nature of Contingency [Axis]</link:label>
    <link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63_label_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency Nature [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:to="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="arc" />
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F_label_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:to="lab_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="arc" />
    <link:label id="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA_terseLabel_en-US" xlink:label="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Workers' Compensation and General Liability Related to Construction and Development Activities [Member]</link:label>
    <link:label id="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA_label_en-US" xlink:label="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Workers' Compensation and General Liability Related to Construction and Development Activities [Member]</link:label>
    <link:label id="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA_documentation_en-US" xlink:label="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Workers Compensation and General Liability Related to Construction and Development Activities [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" xlink:label="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:to="lab_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="arc" />
    <link:label id="lab_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300_label_en-US" xlink:label="lab_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:to="lab_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="arc" />
    <link:label id="lab_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A_terseLabel_en-US" xlink:label="lab_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A_label_en-US" xlink:label="lab_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:to="lab_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="arc" />
    <link:label id="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81_terseLabel_en-US" xlink:label="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Holland Creek Metropolitan District [Member]</link:label>
    <link:label id="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81_label_en-US" xlink:label="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Holland Creek Metropolitan District [Member]</link:label>
    <link:label id="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81_documentation_en-US" xlink:label="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Holland Creek Metropolitan District [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HollandCreekMetropolitanDistrictMember" xlink:label="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:to="lab_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="arc" />
    <link:label id="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC_terseLabel_en-US" xlink:label="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Red Sky Ranch Metropolitan District [Member]</link:label>
    <link:label id="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC_label_en-US" xlink:label="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Red Sky Ranch Metropolitan District [Member]</link:label>
    <link:label id="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC_documentation_en-US" xlink:label="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Red Sky Ranch Metropolitan District [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RedSkyRanchMetropolitanDistrictMember" xlink:label="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:to="lab_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="arc" />
    <link:label id="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B_terseLabel_en-US" xlink:label="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit-enhanced bonds issued amount</link:label>
    <link:label id="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B_label_en-US" xlink:label="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Third Party Credit Enhancements</link:label>
    <link:label id="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B_documentation_en-US" xlink:label="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Third Party Credit Enhancements</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentThirdPartyCreditEnhancements" xlink:label="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:to="lab_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567_terseLabel_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount outstanding in letters of credit</link:label>
    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567_label_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Letters of Credit Outstanding, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:to="lab_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="arc" />
    <link:label id="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF_terseLabel_en-US" xlink:label="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Surety Bonds Outstanding</link:label>
    <link:label id="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF_label_en-US" xlink:label="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surety Bonds Outstanding</link:label>
    <link:label id="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF_documentation_en-US" xlink:label="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Surety Bonds Outstanding</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SuretyBondsOutstanding" xlink:label="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:to="lab_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other long-term liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405_label_en-US" xlink:label="lab_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLongTermDebt" xlink:label="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:to="lab_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="arc" />
    <link:label id="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177_terseLabel_en-US" xlink:label="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated cessation date of capital improvement fee payment obligation</link:label>
    <link:label id="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177_label_en-US" xlink:label="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimated Cessation Date Of Capital Improvement Fee Payments</link:label>
    <link:label id="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177_documentation_en-US" xlink:label="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Estimated Cessation Date Of Capital Improvement Fee Payments</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EstimatedCessationDateOfCapitalImprovementFeePayments" xlink:label="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:to="lab_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="arc" />
    <link:label id="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1_terseLabel_en-US" xlink:label="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of optional renewal terms</link:label>
    <link:label id="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1_label_en-US" xlink:label="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Optional Lease Renewal Terms</link:label>
    <link:label id="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1_documentation_en-US" xlink:label="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of optional renewal terms</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfOptionalLeaseRenewalTerms" xlink:label="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:to="lab_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="arc" />
    <link:label id="lab_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease expense, excluding executory costs</link:label>
    <link:label id="lab_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17_label_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:to="lab_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="arc" />
    <link:label id="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67_terseLabel_en-US" xlink:label="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Contingent Rentals</link:label>
    <link:label id="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67_label_en-US" xlink:label="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Percentage Rent</link:label>
    <link:label id="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67_documentation_en-US" xlink:label="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of Percentage Rent</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DescriptionofPercentageRent" xlink:label="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:to="lab_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Text Block]</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Examination, Penalties and Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:to="lab_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215_periodStartLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Unrecognized tax benefits, beginning balance</link:label>
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215_label_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:to="lab_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C_verboseLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Additions for tax positions of prior years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Lapse of statute of limitations</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C_periodEndLabel_en-US" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Unrecognized tax benefits, ending balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:to="lab_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label id="lab_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1_label_en-US" xlink:label="lab_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillGross" xlink:label="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:to="lab_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="arc" />
    <link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, Impaired, Accumulated Impairment Loss</link:label>
    <link:label id="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE_label_en-US" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Impaired, Accumulated Impairment Loss</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:to="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="arc" />
    <link:label id="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4_negatedLabel_en-US" xlink:label="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4_label_en-US" xlink:label="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill Accumulated Amortization</link:label>
    <link:label id="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4_documentation_en-US" xlink:label="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cumulative amount of amortization related to goodwill.</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GoodwillAccumulatedAmortization" xlink:label="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:to="lab_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="arc" />
    <link:label id="lab_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584_totalLabel_en-US" xlink:label="lab_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Goodwill, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:to="lab_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Indefinite-lived Intangible Assets</link:label>
    <link:label id="lab_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB_label_en-US" xlink:label="lab_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Indefinite-lived Intangible Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIndefiniteLivedIntangibleAssets" xlink:label="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:to="lab_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="arc" />
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross indefinite-lived intangible assets</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets (Excluding Goodwill)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="arc" />
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36_negatedLabel_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36_label_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36_documentation_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:to="lab_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="arc" />
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58_totalLabel_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived intangible assets, net</link:label>
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58_label_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill), Net</link:label>
    <link:label id="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58_documentation_en-US" xlink:label="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill), Net</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:to="lab_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross amortizable intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497_label_en-US" xlink:label="lab_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Trade Names, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedTradeNamesGross" xlink:label="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:to="lab_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07_terseLabel_en-US" xlink:label="lab_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Finite-Lived Intangible Assets, Gross</link:label>
    <link:label id="lab_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07_label_en-US" xlink:label="lab_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Finite-Lived Intangible Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherFiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:to="lab_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8_negatedLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortizable intangible assets, net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="arc" />
    <link:label id="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884_terseLabel_en-US" xlink:label="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total gross intangible assets</link:label>
    <link:label id="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884_label_en-US" xlink:label="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross Intangible Assets Excluding Goodwill</link:label>
    <link:label id="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884_documentation_en-US" xlink:label="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross Intangible Assets Excluding Goodwill</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GrossIntangibleAssetsExcludingGoodwill" xlink:label="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:to="lab_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="arc" />
    <link:label id="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8_negatedLabel_en-US" xlink:label="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Total accumulated amortization</link:label>
    <link:label id="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8_label_en-US" xlink:label="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Amortization Excluding Goodwill</link:label>
    <link:label id="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8_documentation_en-US" xlink:label="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated Amortization Excluding Goodwill</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccumulatedAmortizationExcludingGoodwill" xlink:label="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:to="lab_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="arc" />
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF_totalLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Intangible Assets Excluding Goodwill</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Table Text Block]</link:label>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disaggregation of Revenue [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:label="loc_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:to="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="arc" />
    <link:label id="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534_terseLabel_en-US" xlink:label="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BCRC [Member]</link:label>
    <link:label id="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534_label_en-US" xlink:label="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Beaver Creek Resort Company of Colorado [Member]</link:label>
    <link:label id="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534_documentation_en-US" xlink:label="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Beaver Creek Resort Company of Colorado [Member]</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BeaverCreekResortCompanyOfColoradoMember" xlink:label="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:to="lab_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="arc" />
    <link:label id="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD_terseLabel_en-US" xlink:label="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right to appoint the number of directors</link:label>
    <link:label id="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD_label_en-US" xlink:label="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right to Appoint the Number of Directors</link:label>
    <link:label id="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD_documentation_en-US" xlink:label="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Right to Appoint the Number of Directors</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RightToAppointNumberOfDirectors" xlink:label="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:to="lab_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="arc" />
    <link:label id="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E_terseLabel_en-US" xlink:label="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of directors</link:label>
    <link:label id="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E_label_en-US" xlink:label="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Directors</link:label>
    <link:label id="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E_documentation_en-US" xlink:label="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Directors</link:label>
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfDirectors" xlink:label="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:to="lab_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees and reimbursement of operating expenses</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:to="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">At U.S. federal income tax rate</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">State income tax, net of federal benefit</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in valuation allowance</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign rate differential</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA_terseLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Other Adjustments, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:type="arc" />
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825_totalLabel_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Effective tax rate</link:label>
    <link:label id="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825_label_en-US" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Percent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:type="arc" />
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>13
<FILENAME>mtn-20200731_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.vailresorts.com/role/Acquisitions" xlink:href="mtn-20200731.xsd#Acquisitions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:href="mtn-20200731.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:href="mtn-20200731.xsd#AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/AcquisitionsTables" xlink:href="mtn-20200731.xsd#AcquisitionsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:href="mtn-20200731.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/CommitmentsAndContingenciesTables" xlink:href="mtn-20200731.xsd#CommitmentsAndContingenciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:href="mtn-20200731.xsd#ConsolidatedStatementOfComprehensiveIncome" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:href="mtn-20200731.xsd#ConsolidatedStatementsOfStockholdersEquity" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:href="mtn-20200731.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurements" xlink:href="mtn-20200731.xsd#FairValueMeasurements" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:href="mtn-20200731.xsd#FairValueMeasurementsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:href="mtn-20200731.xsd#FairValueMeasurementsTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxes" xlink:href="mtn-20200731.xsd#IncomeTaxes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:href="mtn-20200731.xsd#IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:href="mtn-20200731.xsd#IncomeTaxesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliates" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:href="mtn-20200731.xsd#InvestmentsInAffiliatesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesDetails" xlink:href="mtn-20200731.xsd#LeasesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesNotes" xlink:href="mtn-20200731.xsd#LeasesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LeasesTables" xlink:href="mtn-20200731.xsd#LeasesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebt" xlink:href="mtn-20200731.xsd#LongTermDebt" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:href="mtn-20200731.xsd#LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/LongTermDebtTables" xlink:href="mtn-20200731.xsd#LongTermDebtTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShare" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:href="mtn-20200731.xsd#NetIncomePerCommonShareTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:href="mtn-20200731.xsd#OrganizationAndBusiness" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:href="mtn-20200731.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:href="mtn-20200731.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlans" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:href="mtn-20200731.xsd#RetirementAndProfitSharingPlansDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:href="mtn-20200731.xsd#RevenuesContractBalancesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:href="mtn-20200731.xsd#RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesDetails" xlink:href="mtn-20200731.xsd#RevenuesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesNotes" xlink:href="mtn-20200731.xsd#RevenuesNotes" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/RevenuesTables" xlink:href="mtn-20200731.xsd#RevenuesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformation" xlink:href="mtn-20200731.xsd#SegmentInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:href="mtn-20200731.xsd#SegmentInformationGeographicInformationDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SegmentInformationTables" xlink:href="mtn-20200731.xsd#SegmentInformationTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialData" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:href="mtn-20200731.xsd#SelectedQuarterlyFinancialDataTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlan" xlink:href="mtn-20200731.xsd#StockCompensationPlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:href="mtn-20200731.xsd#StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:href="mtn-20200731.xsd#StockCompensationPlanTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:href="mtn-20200731.xsd#StockRepurchasePlan" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:href="mtn-20200731.xsd#StockRepurchasePlanDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:href="mtn-20200731.xsd#SummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformation" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="simple" />
  <link:roleRef roleURI="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:href="mtn-20200731.xsd#SupplementaryBalanceSheetInformationTables" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple" />
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/Acquisitions" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A069C314FAD3079BA1FA8396D849352E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BB7BCBDE8DDB1FD18C268396D84AF296" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_83B221862DC7EB7002118396D849AA3B" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_4242CE953474BE56FC978396D84AB5D4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_2E5BC1E1627FB7BEE04B8396D84AC6EC" xlink:to="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5792799A806477083DF08396D84B9B41" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_43766C1A367AC81C99C08396D849723C" xlink:to="loc_us-gaap_BusinessCombinationDisclosureTextBlock_03AEB8A734EE3ECA92128396D84B7669" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_EB6A05120CF1377B816FA2E975484BA0" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_EB6A05120CF1377B816FA2E975484BA0" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_4A9AE7EF0F4CF48571D0A2E97549E1F5" xlink:to="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_6DE2C0E41BB2A5EF8B14A2E9754BCC38" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:to="loc_us-gaap_CommonStockMember_6DE2C0E41BB2A5EF8B14A2E9754BCC38" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_9840C7EDF99E9802F368A2E9754BB500" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_3041AD247EB6B17A4610A2E9754A2113" xlink:to="loc_mtn_ExchangeableSharesMember_9840C7EDF99E9802F368A2E9754BB500" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_CurrencyAxis_9961BBEB2D7B31CF98A4A2E9754C5D37" xlink:to="loc_currency_AllCurrenciesDomain_CEADB78DD253F53434CFA2E9754C5CB5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_9F929CE5E27683045870A2E9754DB938" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_EA4A313F2354E755EB45A2E9754E4A07" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_70BF300C1A712AF4341BA2E9754D2B88" xlink:to="loc_mtn_CanyonsObligationMember_EA4A313F2354E755EB45A2E9754E4A07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_6E0CEF17009632B5072CA2E9754E95C0" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_F6751CF670F3E2312809A2E9754FD784" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:to="loc_mtn_PeakResortsInc.Member_F6751CF670F3E2312809A2E9754FD784" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_D334729427AFF7CB5FF1A2E9754F14A0" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_8D331B63100699E80B7AA2E9754E7D4F" xlink:to="loc_mtn_FallsCreekandHothamMember_D334729427AFF7CB5FF1A2E9754F14A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_63E16163CEAFD5C9C2CFA2E97548916C" xlink:to="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_483B8E13190569AD193FA2EBD67063DE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_483B8E13190569AD193FA2EBD67063DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_C90750FDA17B1CFDFC81A2E9754F30FE" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_C90750FDA17B1CFDFC81A2E9754F30FE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_879994B128DFC424F891A2E975503139" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_D2D9920B0835D6E2B9D0A2E97550727E" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_D2D9920B0835D6E2B9D0A2E97550727E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_399B4D61E8D92DCC8B03A2E97550AC0B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" xlink:label="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_FB05BC81924E19F906AFA2E975500CB4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InitialCapitalLeaseTerm" xlink:label="loc_mtn_InitialCapitalLeaseTerm_3154E3A5D4B98330CBE9A2E9755010CD" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_InitialCapitalLeaseTerm_3154E3A5D4B98330CBE9A2E9755010CD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_FCB9B057F82DA5B773F3A2E97551667C" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_FCB9B057F82DA5B773F3A2E97551667C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MinimumCapitalLeasePaymentAnnual" xlink:label="loc_mtn_MinimumCapitalLeasePaymentAnnual_F33425735FC4B8BB6B50A2E97551463C" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_MinimumCapitalLeasePaymentAnnual_F33425735FC4B8BB6B50A2E97551463C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AdjustmentsToCapitalLeaseAnnualPayments" xlink:label="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_3627ED346BA348A4ED9BA2E975512BE1" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_3627ED346BA348A4ED9BA2E975512BE1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_4D031C30B401B1596C0BA2E97552E59A" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_4D031C30B401B1596C0BA2E97552E59A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_LeaseExpirationDate1_A8CD369CB357C8FFEAAEA2E97552AB78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F90F40D4B4B7CD0600FAA2E9755244D9" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F90F40D4B4B7CD0600FAA2E9755244D9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_600862FEE2D95962D24BA2E97552A100" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_A9C4C35C32A682A093A1A2E97552E1F2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AB8159339A8F472B89BA2E975521F0D" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AB8159339A8F472B89BA2E975521F0D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9356190DC9EB6A18B4A5A2E97553FD1F" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C3748DF8F436B0CD54A2E9754F4734" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9356190DC9EB6A18B4A5A2E97553FD1F" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_8727A9BAAB992643D6029A5E3AFBDE98" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_8727A9BAAB992643D6029A5E3AFBDE98" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_5E3D1CF96169582B1C4F9A5E3AFB021E" xlink:to="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_7D7EB2F20BBD57833C989A5E3AFC8DCE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_5CA46DC185D9E9CCDD489A5E3AFBB1F0" xlink:to="loc_us-gaap_NoncontrollingInterestMember_7D7EB2F20BBD57833C989A5E3AFC8DCE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_CurrencyAxis_0ED2300F74FF82E423659A5E3AFCF9DC" xlink:to="loc_currency_AllCurrenciesDomain_F2C94EA1BB0A1D6594469A5E3AFC0BBE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_C9DDAB3FEE03FD015D239A5E3AFDEB41" xlink:to="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_51E64C8960D63CA30AB19A5E3AFD5F85" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_F3ADFD9AB4CAAA6CBC659A5E3AFDDEA8" xlink:to="loc_mtn_MountainMember_51E64C8960D63CA30AB19A5E3AFD5F85" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_3BA4A02C36D0E1AC57D39A5E3AFD0870" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_CBA97DDD09FD564A9F819A5E3AFEF196" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_PeakResortsInc.Member_CBA97DDD09FD564A9F819A5E3AFEF196" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_689D688344A0C66A85FB9A5E3AFEB3C2" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_FallsCreekandHothamMember_689D688344A0C66A85FB9A5E3AFEB3C2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_8732E549D631EBCA3CB89A5E3AFE7484" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_PerisherMember_8732E549D631EBCA3CB89A5E3AFE7484" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_AEA81BE6779DA28448919A5E3AFEC18D" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_CanyonsMember_AEA81BE6779DA28448919A5E3AFEC18D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StevensPassMember" xlink:label="loc_mtn_StevensPassMember_6E9CBB0C1C5618B477219A5E3AFF4C8F" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_StevensPassMember_6E9CBB0C1C5618B477219A5E3AFF4C8F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TriplePeaksLLCMember" xlink:label="loc_mtn_TriplePeaksLLCMember_A25AC5BA55CAD89DAE049A5E3AFF4499" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_7C2C344050C57BC12D009A5E3AFDF757" xlink:to="loc_mtn_TriplePeaksLLCMember_A25AC5BA55CAD89DAE049A5E3AFF4499" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_C4910220B9CB31CF31E99A5E3AFF49FF" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_0D1C5A1E60F36B79C9729A5E3AFF7025" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementClassOfStockAxis_A269C7A64B098B321AE99A5E3AFF023C" xlink:to="loc_us-gaap_ClassOfStockDomain_3F19FE048B1893859CD89A5E3AFF347C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_92672E1E38C410E3BD209A5E3AFBE47E" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTrademarks" xlink:label="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_IndefiniteLivedTrademarks_4DC23C7258BA3B441C389A5E3B007FB5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_68E584D611E4BFAE0EBC9A5E3B00E963" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_68E584D611E4BFAE0EBC9A5E3B00E963" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_EFE22CB0D9B9EFBCAB509A5E3B00BC8A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsLand_7F2A0E0601DE7026DB779A5E3B0100A1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsLandImprovements_564BB92FE78866E6C7FB9A5E3B01B867" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_C6688A872396359B17F19A5E3B016020" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_D80040F55DEEB6552AAA9A5E3B01D80B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnfavorableLeaseObligationNet" xlink:label="loc_mtn_UnfavorableLeaseObligationNet_4C5F4D8C00ABA1917F989A5E3B0138BC" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_UnfavorableLeaseObligationNet_4C5F4D8C00ABA1917F989A5E3B0138BC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_CapitalLeasedAssetsGross_1A0F6485F2542A289F679A5E3B0170ED" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_E28E0D27908BFE3136219A5E3B0226F6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_CapitalLeasedAssetsNet_3C3DD67A1B2B9558FB1E9A5E3B02898D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_973B94C44A6CE93E4C129A5E3B023D1F" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_973B94C44A6CE93E4C129A5E3B023D1F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_BA9737B0FABECCC4CE469A5E3B02789C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_56E02E44D4D167EF63239A5E3B021272" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_56E02E44D4D167EF63239A5E3B021272" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_4D62CAF23B3ACCF9E9AA9A5E3B021466" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_4D62CAF23B3ACCF9E9AA9A5E3B021466" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6AEFF58700F620470AFC9A5E3B039125" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_9C485D9B2DB3514B796E9A5E3B03ACBD" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_9C485D9B2DB3514B796E9A5E3B03ACBD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_93EBD04D292914AAF88B9A5E3B03174A" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_93EBD04D292914AAF88B9A5E3B03174A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_61374BB2B4E19D16F2299A5E3B038E76" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_61374BB2B4E19D16F2299A5E3B038E76" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed" xlink:label="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_7CDB96BEAD35364702269A5E3B0363DE" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed_7CDB96BEAD35364702269A5E3B0363DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StampDutyExpense" xlink:label="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_mtn_StampDutyExpense_C2BB8E5B5F119BB28D309A5E3B032D6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebt_D4A86E5E03A5FF22394A9A5E3B0494D2" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfDebt_D4A86E5E03A5FF22394A9A5E3B0494D2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_336DCD1893816FFF48549A5E3B043B4C" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_336DCD1893816FFF48549A5E3B043B4C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D9AED79B360ABE452D5B9A5E3B0059E4" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_BD8CCCF8AF9A206D608A9A5E3B04C28B" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_0A8A2A2463E58F438F978396D80C2DC8" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationTable" xlink:label="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_0A8A2A2463E58F438F978396D80C2DC8" xlink:to="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_CurrencyAxis_E6AE354741CA4EDBCDB68396D80C1CA4" xlink:to="loc_currency_AllCurrenciesDomain_54E3A848364969A3AA188396D80C0547" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2B2941B707F3B884E3938396D80D0407" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_5237C8319848FB3A4B818396D80EE246" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:to="loc_mtn_CanyonsMember_5237C8319848FB3A4B818396D80EE246" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_5100A42B79CE4B94151E8396D80D8CA9" xlink:to="loc_mtn_PerisherMember_6319D4DD46DF3F2F23DF8396D80E3E7E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProFormaFinancialInformationLineItems" xlink:label="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationTable_C13BA6AA3FEC3E505C938396D80C22E0" xlink:to="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaRevenue" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionsProFormaRevenue_6F96BA6D38FD3227B9628396D80E1ABC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss" xlink:label="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss_0C2403BA305F4AA93B028396D80FE8DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic_2369DFAA18653A4951658396D80F2F86" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ProFormaFinancialInformationLineItems_2805C53F8C875BD2477F8396D80E36B1" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted_EC90AA407F087E6318F68396D80F2BF1" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/AcquisitionsTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_D307AD2A29C3A790A844B211F012D33E" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_D307AD2A29C3A790A844B211F012D33E" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FF1991C6BF8A0B2C9983B211F013B2BF" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_4F1019F06E25AED97EEEB21CE5645030" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_PeakResortsInc.Member_4F1019F06E25AED97EEEB21CE5645030" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekandHothamMember" xlink:label="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_FallsCreekandHothamMember_97D80714161ACB4FA42BB211F014F2A8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StevensPassMember" xlink:label="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_StevensPassMember_A94C567B7701B0D35344B211F0146CC4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TriplePeaksLLCMember" xlink:label="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F3071E07893F7E42DD66B211F01373F0" xlink:to="loc_mtn_TriplePeaksLLCMember_33DB925E079F1BE38182B211F0143512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_43CF52EAC3DFA62D2F4EB211F0138EA4" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_6EA9D23B93987E788D2EB211F0156566" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:to="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_6EA9D23B93987E788D2EB211F0156566" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionProFormaInformationTextBlock" xlink:label="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_ED8892393029E4F75E75B211F015228D" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_6D4ACEAEFD141DF0D30AB211F014C2DD" xlink:to="loc_us-gaap_BusinessAcquisitionProFormaInformationTextBlock_ED8892393029E4F75E75B211F015228D" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingencies" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_4873A0E0DE3F1E0F0FF55D5DFFD96539" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_4873A0E0DE3F1E0F0FF55D5DFFD96539" xlink:to="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_70D5AAF5DE622C6FB4DE5D5DFFDA07E0" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesFutureMinimumLeasePaymentDetails" xlink:type="extended" />
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_1808F9E76EDAF5BF4C9C9A5E3A3DBAF0" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_1808F9E76EDAF5BF4C9C9A5E3A3DBAF0" xlink:to="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_0DA23B223E8EB740E8449A5E3A3D53DB" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_27755512BC79DF59B0F89A5E3A3EA0F0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_65BBB685EE0537B8CF2C9A5E3A3DFA85" xlink:to="loc_mtn_CanyonsObligationMember_27755512BC79DF59B0F89A5E3A3EA0F0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_61BB04A695B664D5FC1F9A5E3A3EE60F" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NorthstarMember" xlink:label="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_NorthstarMember_D68E3AE21AF971A47AFC9A5E3A3EE745" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PerisherMember" xlink:label="loc_mtn_PerisherMember_1F45F128D2E7525A11529A5E3A3FA501" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_PerisherMember_1F45F128D2E7525A11529A5E3A3FA501" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_1A7E752AA0B2C97406EE9A5E3A3F04C8" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_CanyonsMember_1A7E752AA0B2C97406EE9A5E3A3F04C8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FallsCreekMember" xlink:label="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_FallsCreekMember_11D9AD1A896E78FE30EC9A7DD561483B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HothamMember" xlink:label="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_A0419C2A33BBF97FE1479A5E3A3E5044" xlink:to="loc_mtn_HothamMember_2A8968609F5060898C159A7DD5B511AB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_662451A73B2B3DCB70BF9A5E3A3F863E" xlink:to="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_3A12D228F009759D843E9A5E3A403B5C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:to="loc_srt_MaximumMember_3A12D228F009759D843E9A5E3A403B5C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_A04F23FDDE1D92632CA59A5E3A40EA6C" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_91C38C35B85988406D209A5E3A3F215C" xlink:to="loc_srt_MinimumMember_A04F23FDDE1D92632CA59A5E3A40EA6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis_B4DF4A796EF3FD66699B9A5E3A400E63" xlink:to="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EmployeeHousingBondsMember" xlink:label="loc_mtn_EmployeeHousingBondsMember_3477BA0031CF60EC96279A5E3A412F78" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:to="loc_mtn_EmployeeHousingBondsMember_3477BA0031CF60EC96279A5E3A412F78" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember" xlink:label="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingencyNatureDomain_6F1E2FA8876CE99713799A5E3A40012F" xlink:to="loc_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember_2DA619C28ECF495CD9A09A5E3A41ACEA" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_LegalEntityAxis_4EF712B2FCF53DB4115E9A5E3A419300" xlink:to="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HollandCreekMetropolitanDistrictMember" xlink:label="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:to="loc_mtn_HollandCreekMetropolitanDistrictMember_1902FB27B21E587963859A5E3A417B81" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RedSkyRanchMetropolitanDistrictMember" xlink:label="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityDomain_231438B90D3E29D7EE199A5E3A417C3A" xlink:to="loc_mtn_RedSkyRanchMetropolitanDistrictMember_A5ADF3B389E27BB139AB9A5E3A420AAC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LossContingenciesTable_E683E4D329407F2D7EDF9A5E3A3DAF59" xlink:to="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentThirdPartyCreditEnhancements" xlink:label="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_DebtInstrumentThirdPartyCreditEnhancements_ACD89AAB01DB607327AB9A5E3A42D00B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LettersOfCreditOutstandingAmount_907E2E03AFFBC69C47219A5E3A42A567" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SuretyBondsOutstanding" xlink:label="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_SuretyBondsOutstanding_D99417BBA47A3966C9759A5E3A4324DF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLongTermDebt" xlink:label="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_OtherLongTermDebt_F0254E9F368AAB6E92529A5E3A438405" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EstimatedCessationDateOfCapitalImprovementFeePayments" xlink:label="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments_053C25197604C2963B459A5E3A43A177" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_1B27AE9C810B95F6B3B59A5E3A438DC9" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LeaseExpirationDate1_1B27AE9C810B95F6B3B59A5E3A438DC9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfOptionalLeaseRenewalTerms" xlink:label="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_NumberOfOptionalLeaseRenewalTerms_ED288DDE2EABBA38EC9A9A5E3A43A7B1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_7E07B78FD9BAE8613CC49A5E3A44E4E9" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_7E07B78FD9BAE8613CC49A5E3A44E4E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LeaseAndRentalExpense_EF590CADD92C61C3F47B9A5E3A447E17" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DescriptionofPercentageRent" xlink:label="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_mtn_DescriptionofPercentageRent_ED7105BB9A7CA8D062A89A5E3A441B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_64FC3DF6023017C249C49A5E3A44DCF9" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_9E328EE3E7ABBCCB3DE89A5E3A423EAE" xlink:to="loc_us-gaap_LongTermDebt_64FC3DF6023017C249C49A5E3A44DCF9" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_9C1FE1147073961208FA8396D92E4769" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_9C1FE1147073961208FA8396D92E4769" xlink:to="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:to="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_7DB0149A07FCAC65DBDE8396D92FBB72" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6906E0AF049BDD52395C8396D92F9F0F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:to="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementClassOfStockAxis_538D3866C9F4F24BD3C28396D92F1610" xlink:to="loc_us-gaap_ClassOfStockDomain_28FD2D04A1EACB87F35E8396D9301130" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_DC4A000101D0C174B0F68396D93069C5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_1D6A067CBCB5518FD3F58396D92FC079" xlink:to="loc_us-gaap_StatementLineItems_DC4A000101D0C174B0F68396D93069C5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_9C1FE1147073961208FA8396D92E4769" xlink:to="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_785A8B6991198E33FA568396D930B9C1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_67BB813AB8F98EBF944A8396D930CFD0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_9A1F29A1A459DF7EEE368396D931CC67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryNet" xlink:label="loc_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_InventoryNet_E3C411AD994EA24DCE108396D93109C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_OtherAssetsCurrent_07316DBCD082BC2A7D6D8396D931BA4A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_AssetsCurrent_20B8BD409F93433724A98396D9318720" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_773325D9900792FDF3078396D9315222" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryRealEstate" xlink:label="loc_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_InventoryRealEstate_603360A14E9F16794C208396D9313FB1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_16DBBB6B881EAD33E4168396D9320DA2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_Goodwill_14045F04DBC7CC380F078396D9325E2A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_18878DFC2A6B1A05F9878396D932C6AA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_52A0A86CBDB0AC43883A8396D9329AE7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_Assets_307E54507E181B6B2B4A8396D9324D8B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_F50CC9C0F8BC604DF0768396D9305C6A" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_mtn_AccountsPayableAccruedLiabilities_EAD0F43F45F9DF04551A8396D9339F6A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="loc_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_AccruedIncomeTaxesCurrent_7BBF0571B799AE4B6F288396D933FFF8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent_BCEA5A4D49118F6AD16B8396D933329C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_LiabilitiesCurrent_48439634E5543D42883F8396D9330500" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:label="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_LongTermDebtAndCapitalLeaseObligations_DE9D238F3E587C9144828396D9336F00" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_32BCB50D4C1174CE89978396D9332819" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_mtn_OtherLongTermLiabilitiesNoncurrent_18CB9A73A64CBEB26BE38396D9347D1A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_5350E8EF6CB2B24A05FF8396D9344762" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_Liabilities_078162D5C4B47659510E8396D934D810" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_CommitmentsAndContingencies_5B6F7E6CBC1042BA9DFF8396D934F3B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_8C13897DC2C17F6ED0708396D932985D" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_PreferredStockValue_84371DBBE95A77CD590E8396D9341B51" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_CommonStockValue_C1402308ACCA23A3BD218396D93547A6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesValueIssued" xlink:label="loc_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_mtn_ExchangeableSharesValueIssued_B3A213FBAEA963CD8E748396D935A27B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_AdditionalPaidInCapitalCommonStock_6B4E87ECECBDE8FAA7EE8396D9355407" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_4880A1A317D7B7BEB0C28396D935042B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_739B038D346A2FAF99108396D936FF5F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_TreasuryStockValue_79F3FDD3E4E862B630BB8396D936C054" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_StockholdersEquity_A4842046EE7E46604F218396D936EAD4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_MinorityInterest_810EBC41759B5F4923558396D936E8A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_80918CAD61EE7FF1DC1C8396D93670E7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_B927365DD77C18BB4BC38396D9348123" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquity_7222EB85AA0258B144448396D9368477" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_84DEDFB527D59B1DA452B211F14F2078" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryValuationReserves" xlink:label="loc_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_InventoryValuationReserves_87F8515276E551CB54BFB211F150E5A7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_PreferredStockParOrStatedValuePerShare_3EA8E7AEB79D464088E1B211F150FB8D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_PreferredStockSharesAuthorized_3D5060BEC64120053E0EB211F150DB1B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_PreferredStockSharesIssued_432E1279F79A90A31727B211F1500DC4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_PreferredStockSharesOutstanding_1D77247476D9BD018839B211F1504A64" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_22AC26023B583376C9BEB211F150C4F9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_CommonStockSharesAuthorized_8722F2343F29B99BEE0EB211F1508A75" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_CommonStockSharesIssued_53D91244E26FBA30D3EAB211F150D631" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesParValuePerShare" xlink:label="loc_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_mtn_ExchangeableSharesParValuePerShare_44526148179E7899D8AAB22399280007" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesSharesIssued" xlink:label="loc_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_mtn_ExchangeableSharesSharesIssued_D169C95E9FEFD1436DC3B211F1508FD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_12BB130FCED4CEEC86FBB211F14F769B" xlink:to="loc_us-gaap_TreasuryStockShares_E26D2C92225D7B187489B211F150465F" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_6EF6F0D7610E2B3CF7DA80B1A2FE4063" xlink:to="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:to="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_350DA4FFBE1129CE3A6080B1A2FFCF12" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1D2B9C2B3539CEE663C480B1A2FF450E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_6D2118F2C3F3F40B649C80B1A2FF999C" xlink:to="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8C40EBB448A328B24D1980B1A3008E48" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ProfitLoss_8C40EBB448A328B24D1980B1A3008E48" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_B432364BBDE551D3704C80B1A3007D50" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_DF2693EC2B5CBF1E30BE80B1A300F39E" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_DF2693EC2B5CBF1E30BE80B1A300F39E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_9661B8CA616A0DB9C59F80B1A300AF21" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_80330A9BDEFC8E44A8E580B1A300E246" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_A0C38635DF3BBA3872A880B1A3009203" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTax_4C54E852B099D6A11E7280B1A30144D7" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:to="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_6C1839768237336DEF178396D8DB3666" xlink:to="loc_srt_ScenarioUnspecifiedDomain_1210ADE5CDDD4D77F7998396D8DE09CC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8561A4CADED31B1DF01E8396D8DF8835" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_3FA568CCA8A075593A268396D8DB5BBE" xlink:to="loc_us-gaap_StatementLineItems_8561A4CADED31B1DF01E8396D8DF8835" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_803E22A4E039DC6088708396D8DF1E26" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:to="loc_us-gaap_ProfitLoss_803E22A4E039DC6088708396D8DF1E26" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_78EB8C8539BF43CEB98A8396D8DF7F09" xlink:to="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_DepreciationAndAmortization_3EA21C5A2F884B6A0C4C8396D8E063D0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_AssetImpairmentCharges_8B959CB6990B5E8AE6128396D8E08982" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateCostofSales" xlink:label="loc_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_mtn_RealEstateCostofSales_B101A2274B52A8F2C12D8396D8E0FA68" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_ShareBasedCompensation_69FD0861B8D73024DF818396D8E08942" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_F8E093CC0280333306F08396D8E040DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_AccretionExpense_D721B017FC705D57E65E8396D8E199AD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_8294434910250705F4FF8396D8E190FB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_6538371413BEBECA0A1E8396D8E114E2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_mtn_GainOnSaleOfRealProperty_55AF21AF1E8DDD2CA9858396D8E1CA75" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="loc_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_OtherNoncashIncome_039E7B939F673239A6888396D8E17BC9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_F9D3BAE53E3944A0691D8396D8E03B36" xlink:to="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_75C919A2A9166D55E3138396D8E2DEE9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="loc_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInInventories_AF788DF405A3F8B504828396D8E2BD3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_C2BC7A68290600758F5D8396D8E2E14E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredRevenue_237EE502415E847759528396D8E22E2F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities" xlink:label="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities_9AFD0B31500AD725D9668396D8E3E4C9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_788F0F84287092DF118A8396D8E3D800" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_319C3F95DF9DF39076D18396D8E1C6DC" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_0DA2106C6A9C753F6B238396D8E3A76A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_4C3A14103DA4E74701C88396D8E30BD5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:to="loc_us-gaap_PaymentsToAcquireProductiveAssets_4B895E2C952D570C15F78396D8E306ED" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_B79E52116297530FFE598396D8E4A453" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:to="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_ADEC3D0DA67D678F58B58396D8E4DBE1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_1EA60F739F2AD1835BD48396D8E3853A" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_ED0278843BF0FB63E47C8396D8E4C0A8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_ProceedsFromLinesOfCredit_78FC0456B97D2D6CDACE83C9841EFEF2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ProceedsfromWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_mtn_ProceedsfromWhistlerCreditAgreementrevolver_6F6DF4DDD2FDB0D605748396D8E529A7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:label="loc_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_ProceedsFromNotesPayable_85F9D27295BA26F5BEAE8396D8E5016C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofTermLoan" xlink:label="loc_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_mtn_RepaymentsofTermLoan_F29E9F37B22EE132F9978396D8E5ECAE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RepaymentsofWhistlerCreditAgreementrevolver" xlink:label="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_mtn_RepaymentsofWhistlerCreditAgreementrevolver_9A15C180A7AB235590F68396D8E54EB6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_D9A0F1D4C6469467C1428396D8E5095D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_933F0161FCA55C479C538396D8E60731" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_PaymentsOfDividends_160DA8F78E6853B7A0648396D8E671AD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_3CF757C70FDBCDFC60988396D8E625E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_854BD7C99A260D3F038C8396D8E603A6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_55C93884CEE01A30F8F68396D8E66788" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_375D4760085765B50DB88396D8E45E40" xlink:to="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_8ED99F3AF8C22104EAEF8396D8E6118C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:to="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_DE1A93CEE33861DF27658396D8E77C00" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract_16318C3EF9E8D53432FC8396D8E7F03F" xlink:to="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_31A196D29CC61B48CBB88396D8E759DF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_InterestPaidNet_6BF86CFA7B8DEEB4C2EC8396D8E7FA04" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="loc_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_IncomeTaxesPaid_C9BD28769070B24B6E678396D8E7D709" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_DF9CD3E8A935BC7B36098396D8DBF036" xlink:to="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid_EB7BBCE2AA262EC03F678396D8E899B0" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StatementofComprehensiveIncomeParentheticalAbstract" xlink:label="loc_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit" xlink:label="loc_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_StatementofComprehensiveIncomeParentheticalAbstract_C4C7DF0C1B70C7CE43C65D5E072ABD9B" xlink:to="loc_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit_737D9BFA717DA360D7B55D5E072BF82B" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:to="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:to="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_30D1E991F1AB879FCB3D80B1A33053A1" xlink:to="loc_srt_ScenarioUnspecifiedDomain_81BDB20CBBA8068523D980B1A3304156" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_89DB43BA8E1531F971F180B1A33182C4" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_BCE518D1EAF77412C85F80B1A3304055" xlink:to="loc_us-gaap_StatementLineItems_89DB43BA8E1531F971F180B1A33182C4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:to="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingservicesandotherrevenue" xlink:label="loc_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="loc_mtn_MountainandLodgingservicesandotherrevenue_F7707A56C67E6860AE6980B1A3314598" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingretailanddiningrevenue" xlink:label="loc_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="loc_mtn_MountainandLodgingretailanddiningrevenue_25A5E68CD53C2930DAEF80B1A33145F4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_5E80735C6540F23AF8EF80B1A3361FDC" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="loc_mtn_ResortRevenueNet_5E80735C6540F23AF8EF80B1A3361FDC" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_D638F21ECF288E2CAED180B1A337F65F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="loc_mtn_RealEstateRevenue_D638F21ECF288E2CAED180B1A337F65F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_8B7612FACA75CF7E9EEC80B1A3378C92" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_B8C082906B59CC4DC7FD80B1A3311534" xlink:to="loc_us-gaap_Revenues_8B7612FACA75CF7E9EEC80B1A3378C92" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_C624D3AFA943625B0BFF80B1A33096B2" xlink:to="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingoperatingexpenses" xlink:label="loc_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_MountainandLodgingoperatingexpenses_2B0D790784F8BC3D2DF580B1A3375015" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodgingcostofproductssold" xlink:label="loc_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_MountainandLodgingcostofproductssold_C81556ACE3345FFCEB0A80B1A3371B92" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainandLodginggeneralandadministrativeexpense" xlink:label="loc_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_MountainandLodginggeneralandadministrativeexpense_F90649C801DF059DFD4580B1A338FDAF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_ResortExpensesNet_04CB9635164D911C23D180B1A338F9D0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_RealEstateExpense_D467F4EF2725B789BEF780B1A338C54D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_56B1C729447A55FD96D780B1A3382B76" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_OperatingCostsExpensesAndCostOfSales_56B1C729447A55FD96D780B1A3382B76" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherOperatingExpensesAndIncomeAbstract" xlink:label="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_214BB7C0D5FC86A9596280B1A3375C58" xlink:to="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_DepreciationAndAmortization_59838A79B7C84191B82180B1A3384D0E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_1BFC0312FA4FC087354980B1A3399492" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_mtn_GainOnSaleOfRealProperty_1BFC0312FA4FC087354980B1A3399492" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_AssetImpairmentCharges_7101894E9DA06D210EE480B1A339F702" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_80DF5AA2CE93ED8F6BFF80B1A3393138" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_GainLossOnDispositionOfAssets_F574372F6A27646157C680B1A339BBF9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_OperatingIncomeLoss_52DA552E07AD81A8281F80B1A3398FDE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainEquityInvestmentIncomeLossNet" xlink:label="loc_mtn_MountainEquityInvestmentIncomeLossNet_9871ED33B6F0C4EA518980B1A33931DB" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_mtn_MountainEquityInvestmentIncomeLossNet_9871ED33B6F0C4EA518980B1A33931DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_InvestmentIncomeInterest_EF75227E1E2E77F774AC80B1A33A465B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_2DE15B82F08843EC0BD380B1A33A99E2" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_2DE15B82F08843EC0BD380B1A33A99E2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_InterestExpense_6A0CB68747E4E13708FF80B1A33A7235" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_501D52870E56F791773880B1A33A03B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_4A3E78DC9EB379F1C98C80B1A33ADE25" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_4A3E78DC9EB379F1C98C80B1A33ADE25" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_ProfitLoss_75235CB53ED3517CA45080B1A33A45D3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5D76CC92F6F1F5D53C0A80B1A340B346" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_5D76CC92F6F1F5D53C0A80B1A340B346" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_NetIncomeLoss_2EF3D1545BD3EF5C52F380B1A3403CBC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_OtherOperatingExpensesAndIncomeAbstract_AA9E47969AC803AADEDE80B1A338F95F" xlink:to="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_99237777D734BAC56F8080B1A34099F1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:to="loc_us-gaap_EarningsPerShareBasic_99237777D734BAC56F8080B1A34099F1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_C48DECD57779D065823280B1A341391B" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:to="loc_us-gaap_EarningsPerShareDiluted_C48DECD57779D065823280B1A341391B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_0EA1F00C780A87ADA07F80B1A340595A" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_66D2CAA431A1551711B880B1A341B0E5" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_66D6DBCFCDE32B473E03B28F417D957A" xlink:to="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_94D96403A552603EC0B8B28F417D4DE9" xlink:to="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_CommonStockMember_EBD8CABB3FFCBA05166FB28F417E4AD4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_mtn_ExchangeableSharesMember_808B8E76D18F0729F705B28F417EA091" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_AdditionalPaidInCapitalMember_7FC8A52BA0E09C531E7EB28F417F1676" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_F81BB7A89A9B9C3E7350B28F417F0799" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_RetainedEarningsMember_2BE064A384EFF437A51EB28F417F041F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_TreasuryStockMember_FD288991E723BF7A6B13B28F417FF072" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TotalVailResortsIncStockholdersEquityMember" xlink:label="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_mtn_TotalVailResortsIncStockholdersEquityMember_F029369311A9B571F8C0B28F417F0EFF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_6AA9D49A3327951CEC2DB28F417E22B8" xlink:to="loc_us-gaap_NoncontrollingInterestMember_DE64D1D68DC3B649E9C0B28F417F0A78" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_203A421ECF8EFDC907EAB28F417D8338" xlink:to="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_D65C84AA32CC41A1DD6DB28F41809C65" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_0BDC583775E30DFC568FB28F418034EF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_NetIncomeLoss_0BDC583775E30DFC568FB28F418034EF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_B6EAC0C37DE86FB9AFC7B28F41807B92" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ProfitLoss_7D05B266E64DFE4424AFB28F41807317" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_409F6B6DE87F99ED7029B28F4181FE55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent" xlink:label="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent_73356EB41FE3AB6C7D0DB28F418133C9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTax_082C10EC380C7DCA5A27B28F4181C60D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_0F05ED84323E81E7C40CB28F41812F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_97A7852979AA651AD8E9B28F41814371" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:label="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_94ABFE645AA2D8580C52B28F4181B973" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings" xlink:label="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings_6676571F7E40B4FC4E53B28F41829464" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillPurchaseAccountingAdjustments" xlink:label="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_GoodwillPurchaseAccountingAdjustments_C8F974FCAEF21D873B52B28F4182233C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesTransfer" xlink:label="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_mtn_ExchangeableSharesTransfer_CCC624BB21E53442CE9AB28F4182414B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_EE4E98D2221D3E1908B6B28F41824CE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodValue_BD27A95020923E90F74CB28F4182D9D9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DividendsCommonStock" xlink:label="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_DividendsCommonStock_767B521FE96BDC755283B28F41822517" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_C33B024A3D554C142B7DB28F418343FE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_AB1820CCAA2E16FAFCA9B28F4180DC6A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_49FAA7F864B4C0AACBA9B28F418317D2" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/DocumentAndEntityInformation" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DocumentAndEntityInformationAbstract" xlink:label="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:type="locator" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="loc_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_Security12bTitle_E046F2C07724FDD6481880B1A3C6C0C2" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="loc_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_CityAreaCode_DE9829091E19EB2ED03D80B1A3C716BF" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityIncorporationStateCountryCode_C3F22F2C16F62E81F36480B1A3C73F35" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="loc_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentTransitionReport_B2A435E856F1B04C32C480B1A3C70E6D" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="loc_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentAnnualReport_ACE72DE999D32306EDB280B1A3C71BBA" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentType_1B8DB1D9D000EE98A26280B1A3C7D4B5" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_AmendmentFlag_79BF114684CFF5F772D280B1A3C76A50" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentPeriodEndDate_605B382D1BAA5BA4125680B1A3C85EE7" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentFiscalYearFocus_006E66C06F4097BEC7A080B1A3C82B5A" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_DocumentFiscalPeriodFocus_453FA279803AF035287180B1A3C836CA" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityRegistrantName_7DE9184B224BCCB5DEF780B1A3C8C5A1" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityCentralIndexKey_711AC8082A6445A53CF180B1A3C8824B" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_CurrentFiscalYearEndDate_BC5D54E49B27FD2F8C9E80B1A3C8FAAC" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityFilerCategory_3BB1DCBD7D4E81E9749880B1A3C84886" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="loc_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityShellCompany_EE2A357E66C96C949C9680B1A3C9C269" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="loc_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntitySmallBusiness_8E7C40ED25140D0BE2E880B1A3C9353C" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityEmergingGrowthCompany_2AEA70F0C05AFBAFFBAC80B1A3C927E2" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityWellKnownSeasonedIssuer_D629CDC8FA016F665ED480B1A3C975F7" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityVoluntaryFilers_F600B832984B310E7D1E80B1A3C9B9D1" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityCurrentReportingStatus_F3D1C26A249CEC4A25F780B1A3CE4AD9" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityCommonStockSharesOutstanding_18041905CEE8D16DF48D80B1A3CF4C73" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityPublicFloat_B31AD698E03C368D191680B1A3CF634F" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityFileNumber_9DCE59302E561CC22A3E80B1A3CFFA12" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityTaxIdentificationNumber_8804A3B1C23B6B25F92F80B1A3CF0A02" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:type="locator" />
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityAddressAddressLine1_B4C8582E3105846A668380B1A3CFF785" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:type="locator" />
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityAddressCityOrTown_0B21F389C324FB3081D280B1A3CFA243" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:type="locator" />
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityAddressStateOrProvince_CC57FEC5EB6621501F8680B1A3D00281" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:type="locator" />
    <link:presentationArc order="28" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityAddressPostalZipCode_7B9122774EF65678900280B1A3D06FF1" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:type="locator" />
    <link:presentationArc order="29" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_LocalPhoneNumber_1D632E7F883200662D4B80B1A3D0B129" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="loc_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:type="locator" />
    <link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_TradingSymbol_4B9AB71EBAA06F4C433E80B1A3D0AEAD" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:type="locator" />
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_SecurityExchangeName_18571061AFB5FCA9901A80B1A3D0A1B2" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:type="locator" />
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_EntityInteractiveDataCurrent_FBAE0F9860D12A78829480B1A3D0699C" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_IcfrAuditorAttestationFlag" xlink:label="loc_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:type="locator" />
    <link:presentationArc order="33" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DocumentAndEntityInformationAbstract_324D0145B0626EDBE67A80B1A3C616B1" xlink:to="loc_dei_IcfrAuditorAttestationFlag_635E3973B085EDED6BF580B1A3D12FBE" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurements" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_89E5AACE005B74F945B75D5E05051324" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_89E5AACE005B74F945B75D5E05051324" xlink:to="loc_us-gaap_FairValueDisclosuresTextBlock_AAE6AE8DFB00CF8704255D5E050653C9" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_DDE85B219D95CE63A3F49A5E3A94335A" xlink:to="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_CurrencyAxis_49B0C13E0DE48B6DE3EF9A5E3A95878B" xlink:to="loc_currency_AllCurrenciesDomain_6EC71145B330599CC6DB9A5E3A95BE9E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_5F6FFAE212253CAB2B869A5E3A95D4D2" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_MoneyMarketFundsMember_AB4801A8FFF8EAAAA8CF9A5E3A954DA2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommercialPaperMember" xlink:label="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_CommercialPaperMember_0000A0A921A58B40B9D49A5E3A96E1A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_13DF5A81F3DA69B2C6C29A5E3A95939B" xlink:to="loc_us-gaap_CertificatesOfDepositMember_5C4E40C108DDAAF4A6A19A5E3A96079A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A1E3798D067508AE4AC39A5E3A96025D" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_4B4D9D0B47308C0611359A5E3A97ED75" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_F803532E29903C4AFFF99A5E3A9652C0" xlink:to="loc_mtn_CanyonsMember_4B4D9D0B47308C0611359A5E3A97ED75" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis_DDBA5F8C6347460DF29E9A5E3A97D050" xlink:to="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel1Member_82133854E8C9A70EC0389A5E3A97F50A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel2Member_B77E739296D6933C41F29A5E3A98337E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_0D25EBB6EC3FAB41B6FD9A5E3A973A73" xlink:to="loc_us-gaap_FairValueInputsLevel3Member_282D780F6A5E0AD352E19A5E3A98A480" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D819A087164A17D7E2BD9A5E3A947607" xlink:to="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription_C6AA06D75F94FAA6AD8F9A5E3A982DA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationKeyAssumptionsforValuation" xlink:label="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_mtn_ContingentConsiderationKeyAssumptionsforValuation_82CD8E3D66C838EC6F799A5E3A99A00D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription" xlink:label="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription_DCBABDFBE8309B7FCBE29A5E3A99E5E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_069B30A3D7CAF441FF449A5E3A99FE6F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_79304A37B14EFCC30ADB9A5E3A990DF8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContingentConsiderationFairValueDisclosure" xlink:label="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_mtn_ContingentConsiderationFairValueDisclosure_401CAD82E321AFEC08F39A5E3A99AFD7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRent" xlink:label="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_PaymentsForRent_A4D9F24594CAE30679289A5E3A99A897" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7C94875BA0938B9DE0409A5E3A985447" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_170960BF4EF0DC26A8069A5E3A9AEBAE" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/FairValueMeasurementsTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract_198A1B6DBF6C59C3E310B211EE9ED3EC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_198A1B6DBF6C59C3E310B211EE9ED3EC" xlink:to="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_7A5158483965D07059A5B211EE9E04E1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract_198A1B6DBF6C59C3E310B211EE9ED3EC" xlink:to="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_209606BA00475246D523B21F11BDB135" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxes" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_352CED27BA8F09930EA65D5E0015C565" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_352CED27BA8F09930EA65D5E0015C565" xlink:to="loc_us-gaap_IncomeTaxDisclosureTextBlock_06AB19034421BFE4F5A95D5E0015A2B6" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_BED9D9B3CA2C3C6431D78AA48001624B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_6120408C28C6D112894F8AA48001B481" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesLeasingArrangements" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesLeasingArrangements_4BA4EE88BF97BD0BE0B18AA4800216C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesOther_17E982594359A03DE9D78AA48002A805" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_1D5EDB3884FC5594C6178AA48002911B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_926090CD2F972A4040F48AA480028F32" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxLiabilities_926090CD2F972A4040F48AA480028F32" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetCanyonsObligation" xlink:label="loc_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_mtn_DeferredTaxAssetCanyonsObligation_2FB8AFF8BFE62B1A9ACC8AA4800394B4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_804CCDED9F52E2FC90728AA48003B51D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsInvestments" xlink:label="loc_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsInvestments_AA860AFFC770EB46E78A8AA48003DF1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits_BAFFEFCE0BED98C426A48AA4800337E2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies_0755C807DD8F3666DD778AA48003DE09" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation" xlink:label="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation_579316FD7CC80AA956A28AA480030666" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_BD9477C40CBC836092CF8AA480031D3A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DeferredTaxAssetsOperatingLeaseLiabilities" xlink:label="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_mtn_DeferredTaxAssetsOperatingLeaseLiabilities_BB613FDA4D8BE284DFFA8AA480042BBA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_48EB2FA856AC402E064B8AA480042FB6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_773D0B7D85395FFC33E78AA4800441EC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_2F9D4B0FB1796EFA80798AA4800452FB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_52EBA762AEF5279FE7DA8AA48001E243" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_F5B39CA7BDBA1FF99C898AA480050B5B" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract" xlink:label="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_5BD05BE03FC6E23B55D85D5E068AD4D3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_BFF852A27FD87009F9B65D5E068BD39F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract_9F2C2959316AD17CEB735D5E0689D29E" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_3BC9923BCFA84C8F95E95D5E068BCD8B" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_CE76FE9D29305D6841825D5E00046C8E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_4A8BBD85493DD2FB8A285D5E0005FDFB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentForeignTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_CurrentForeignTaxExpenseBenefit_5558F3AA29BD8D7A5ADE5D5E0005939D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_893ADAD2A76329695B2D5D5E000615E3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_F56BA3A4FFD3277601FF5D5E00068682" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_541A159708B23565B5C65D5E0006D6EC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_51DD046137C3469241C95D5E0007218A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_9098CC9BD96A875391405D5E0007B305" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_0CC9FD6671D2CBED2A355D5E0004AB40" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_5712B8EA5CB4B7CB8C5F5D5E000709F2" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_5D005B87046F37018720A2F0A1E7E9D7" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_5D005B87046F37018720A2F0A1E7E9D7" xlink:to="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_A31FC5BA88994CE6CDB9A2F3F5DDD52C" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_DD0326167101EF6F0654A2F41963857E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_03C02538506AF227AB22A2F3F78134F6" xlink:to="loc_mtn_PeakResortsInc.Member_DD0326167101EF6F0654A2F41963857E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_C9DC472DB2EC01577984A2F0A1E846FD" xlink:to="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_290100832A6C7FA50DC1A2F0A1E9DD63" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:to="loc_srt_MaximumMember_290100832A6C7FA50DC1A2F0A1E9DD63" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_BF38D70E862327EF0DC1A2F0A1EBB346" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_BC524A5398CD9AABAFC1A2F0A1E95EAF" xlink:to="loc_srt_MinimumMember_BF38D70E862327EF0DC1A2F0A1EBB346" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxAuthorityAxis_913780A630DC54896296A2F0A1EB0EA8" xlink:to="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseMember" xlink:label="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_InterestExpenseMember_DEA6961740E462CB6DC9A2F0A1EC63F7" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_US" xlink:label="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_country_US_C7CD619EA313A4061ECFA2F555CED6C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCountryMember" xlink:label="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_ForeignCountryMember_F62AF5EB898DBD6D04D0A2F5C73E7FA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxAuthorityDomain_1163BD3384080C7A5504A2F0A1EB7EA9" xlink:to="loc_us-gaap_StateAndLocalJurisdictionMember_E8DED9A72F11EEDC45AEA2F0A1ECDAC8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_87D2289D53B54DCCC8D0A2F0A1E82A88" xlink:to="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Netoperatinglosscarryback" xlink:label="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_Netoperatinglosscarryback_3E854B588A4437B40370A2F1FFA7AD2C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_USRefundablePayrollTaxCredits" xlink:label="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_USRefundablePayrollTaxCredits_3A6B6886A50D0C3DFC70A2F0A1ECDDB5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_B152E881C95E5600810FA2F0A1EEEBB9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_0CBCAF4BEB4A5EB48BA9A2F0A1EE921C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_39BD3673160B377816BCA2F0A1EE8D97" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense_4247F8D8527FE56B344DA2F0A1EE9DA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:label="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_OperatingLossCarryforwardsValuationAllowance_4D408FBBB4A39136F9E3A2F0A1EFD26A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued_5609A2E666194DE439EDA2F0A1EF6F14" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_CDEAE5AFC1F9EF04F95DA2F0A1EF861D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_OperatingLossCarryforwards_A137E07D8FF914BE5228A2F0A1EFCB07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign_3D8F6A241011B601E104A2F0A1F0BB55" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:label="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount_FCDF16532994D3E12548A2F0A1F0746D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ImpactofTaxReformonRate" xlink:label="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_ImpactofTaxReformonRate_F8A499DE2E0C73413F4EA2F0A1F0DFE4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ForeignRefundablePayrollTaxCredits" xlink:label="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_E5ACAA05B674A435FB13A2F0A1ECCC7F" xlink:to="loc_mtn_ForeignRefundablePayrollTaxCredits_FA759DC0E66E1B99B367A2F0A1F028F8" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract" xlink:label="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_A9E12C65ED32DF10B8D183EF33759F71" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilitiesNet" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilitiesNet_50EDFF99254CAB59FD4083EE95699131" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract_D8CBE5404BD09B8AA5DE8396D773BD1E" xlink:to="loc_us-gaap_DeferredTaxLiabilities_63A635F91708919D8FCD8396D7749CC6" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_D03A7BD2FE05D6BB3A1B80B19DFD451F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_CAB278D5D9E68A70D81680B19E020D71" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther_F2C2BC37357493B4097E80B19E0284A5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_217A01EDD0363E9E244680B19E02C289" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_61CA035F3BC94E98FAB680B19E037CE3" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_61CA035F3BC94E98FAB680B19E037CE3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ImpactofTaxReformonRate" xlink:label="loc_mtn_ImpactofTaxReformonRate_E1842E805A4150A09CAA80B19E03156F" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_mtn_ImpactofTaxReformonRate_E1842E805A4150A09CAA80B19E03156F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense_6B1E742FA867490FC3F080B19E03BFA1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_72C44ABCE51DFD665DFF80B19E0369D5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_76852F89EB43612AB4DF80B19E03F1FA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_194203EA680B8896FEE480B19DFCA493" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_798ACE1C7D4638CF8CA580B19E038825" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:to="loc_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense_79A8940783A52377C3E98396D77B9455" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:to="loc_us-gaap_UnrecognizedTaxBenefits_1E44B8AFE940F6E129508396D77B5215" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions_4C5B050B4580DF3CDDE38396D77B5E1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:to="loc_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations_BE4FDF297421BB3A9D4D8396D77B209D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C69BDD2918A10810B90F8396D77ACCCC" xlink:to="loc_us-gaap_UnrecognizedTaxBenefits_FA216CAEED32506BBEA98396D77CF05C" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/IncomeTaxesTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_0F406823C9232E20BE975D5DFFB99647" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock" xlink:label="loc_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock_31406FCBAD6CDC343BCA5D5DFFB9A262" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_8A5A9917CCCE99D92F1F5D5DFFB93637" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_0D62D10A87CA38BCD4115D5DFFB95DC4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_FD8B287C0365D5F016415D5DFFBA0F8B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SummaryOfIncomeTaxContingenciesTextBlock" xlink:label="loc_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_FCE572160C3DEFC23A575D5DFFB9A6BF" xlink:to="loc_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock_8B93172798EA6A6F89A15D5DFFBADD08" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliates" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermInvestmentsAbstract" xlink:label="loc_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermInvestmentsAbstract_0267190309BEBA1C7D055D5E01522B2F" xlink:to="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_17F0136AE4FBF41818255D5E01524AC8" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermInvestmentsAbstract" xlink:label="loc_us-gaap_LongTermInvestmentsAbstract_8451A7E820AFE5D883995D5DFEF5FDB0" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermInvestmentsAbstract_8451A7E820AFE5D883995D5DFEF5FDB0" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C7FF88272F21725BEC5D5D5DFEF6E011" xlink:to="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_BBD8979530CDFD7503BD5D5DFEF66F49" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_18767064C1B078515DF25D5DFEF7CA2C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_EquityMethodInvesteeNameDomain" xlink:label="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_94704C67D82BA02F95B15D5DFEF747DC" xlink:to="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember_86F9768A6FCD773A6A165D5DFEF96985" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_KeystoneAndIntrawestLlcMember" xlink:label="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_KeystoneAndIntrawestLlcMember_DF9CD7AF05A0A00303FE5D5DFEF973A8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ClintonDitchAndReservoirCompanyMember" xlink:label="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_EquityMethodInvesteeNameDomain_0E5B36CAAB3E4D818A915D5DFEF77117" xlink:to="loc_mtn_ClintonDitchAndReservoirCompanyMember_02E931B19954A84AEC065D5DFEF9832F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_83A1E4B0200E0B3C62085D5DFEF6B1AF" xlink:to="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_RevenueFromRelatedParties_7E2A33EAB7327D4098E35D5DFEF9C705" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_4CFC9A8A3E0D145F8EC75D5DFEF99CE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestments_6F217D5AA37475B36FCE5D5DFEF94099" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees" xlink:label="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees_18DACC5F9CC0F5D8E3735D5DFEF9AE41" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_42670F4BEBA3977D3B715D5DFEF961D6" xlink:to="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_539974E0BF847FA24D865D5DFEFA0123" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/InvestmentsInAffiliatesTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermInvestmentsAbstract" xlink:label="loc_us-gaap_LongTermInvestmentsAbstract_B805F3FF4E340ED31CAF5D5E02679A97" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentsTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermInvestmentsAbstract_B805F3FF4E340ED31CAF5D5E02679A97" xlink:to="loc_us-gaap_EquityMethodInvestmentsTextBlock_2F2013043B5D7921D86F5D5E026877FA" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LeasesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="loc_us-gaap_LeasesAbstract_A31ABA56FC7FFAD0DFC39E74BC3E1E72" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_A31ABA56FC7FFAD0DFC39E74BC3E1E72" xlink:to="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_24A7E57A04895F0F6E519E74BC3FF3CD" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_8E3B2B5B2FEFE81007BD9E74BC40D025" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_A892E66FD4A8332303459E74BC3F8C99" xlink:to="loc_mtn_CanyonsObligationMember_8E3B2B5B2FEFE81007BD9E74BC40D025" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:to="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_4D4EDA2CD90F18A1945D9E74BC41B387" xlink:to="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_C27E19AFBD8EF235C7EF9E74BC412B00" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:to="loc_srt_MinimumMember_C27E19AFBD8EF235C7EF9E74BC412B00" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_35E12478348B5A56D26B9E74BC41DBED" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_7A2100634EBD6BC8CA3F9E74BC419C0F" xlink:to="loc_srt_MaximumMember_35E12478348B5A56D26B9E74BC41DBED" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_F0A265C14542622D02389E74BC3F9DD1" xlink:to="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_4A02EF9FE17D4A7FCD609E74BC42B489" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_4A02EF9FE17D4A7FCD609E74BC42B489" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_BDFE3F3FDDD7A711E8AA9E74BC4240AF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_64CB8340F428BB3E774C9E74BC42B53E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_C16D86DD1C764EEC7BFC9E74BC421ED7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1_92B15396AE550730322F9E74BC431447" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasePayments" xlink:label="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasePayments_FC9BFB4B6A2044271D779E74BC43029E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_FC1067C51932564D5AAD9E74BC437D4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseInterestExpense" xlink:label="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseInterestExpense_C26A8EAF9D9CD3E8931F9E74BC43F36D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseExpense" xlink:label="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseExpense_CC1B7F2F8380333053F09E74BC432D1B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShortTermLeaseCost" xlink:label="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_ShortTermLeaseCost_7ED89BDF599B324496929E74BC43C017" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableLeaseCost" xlink:label="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_VariableLeaseCost_B70F704E984024D0C5EE9E74BC441D43" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_OperatingCashOutflowsforFinanceLeases_74E71EAA712B4A2CF3239E74BC443336" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_FinancingCashOutflowsforFinanceLeases" xlink:label="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_FinancingCashOutflowsforFinanceLeases_CA591F52D276BF3BF4179E74BC44F0A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1_D444D275E8369FB7F3B19E74BC4480B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent_BA4E4A726BDAEEB08D7F9E74BC45A1A7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent" xlink:label="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent_FB2268F3F10F593415889E74BC45BB76" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_E2C91760FAE9B94425A79E74BC454E3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_7D9EA70B9B69C4D2FA3C9E74BC450C35" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_61033C4C4553B010E89E9E74BC4518B7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_62E555189AB6D5F39FCF9E74BC46D173" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_5FA85543338FB8C34DFE9E74BC46D7BF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_94B37A385FD5E7D5961B9E74BC462205" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_226BFD4001FB7CF07ABB9E74BC46016D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_3D084F05485FA2E530979E74BC4687C6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="locator" />
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_5C931625445960EA8D449E74BC4626FF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="locator" />
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_8CC39FE6387613DF485B9E74BC46FEE5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="locator" />
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_A32C7F7AA0D33AEA94209E74BC475471" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="locator" />
    <link:presentationArc order="28" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_E8C72371B8DEB70A2A369E74BC47076B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="locator" />
    <link:presentationArc order="29" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_05F2C410E6B20843E7D49E74BC4744DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="locator" />
    <link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_1EA58AF405F3C77684329E74BC4705D0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="locator" />
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_7D3C7625A488E4519D4C9E74BC474C34" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="locator" />
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_E26E5364AB5021FF39379E74BC48B4C8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="locator" />
    <link:presentationArc order="33" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_499F12F6D82C97882E789E74BC481FE3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="locator" />
    <link:presentationArc order="34" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_F4354B2DCCEB0090559B9E74BC484454" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_4805B6FB7A684BF64FC79E74BC4863FD" xlink:type="locator" />
    <link:presentationArc order="35" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiability_4805B6FB7A684BF64FC79E74BC4863FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseLiability" xlink:label="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="locator" />
    <link:presentationArc order="36" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseLiability_340DB62323312A5AA4BF9E74BC482E1D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="locator" />
    <link:presentationArc order="37" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_C626906BE3A7F3F9BA7F9E74BC48E1EA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="locator" />
    <link:presentationArc order="38" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_B0A3B540170CDB61C4B79E74BC48F0DE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="locator" />
    <link:presentationArc order="39" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_7754A25A109C90E1DB2E9E74BC49267C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="locator" />
    <link:presentationArc order="40" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue_E254E4DBF9C68A82BE939E74BC493A44" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="locator" />
    <link:presentationArc order="41" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_EAE149C565B7C18070869E74BC490FA7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="locator" />
    <link:presentationArc order="42" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_40D1F3FDB66EC088FCFD9E74BC49A5DC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="locator" />
    <link:presentationArc order="43" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_LongTermDebt_C580872D21666A9624B99E74BC490EB0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAsset" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="locator" />
    <link:presentationArc order="44" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAsset_437202C14A9FCA56C3BA9E74BC49F166" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="locator" />
    <link:presentationArc order="45" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization_E49BFCB1EC723086E9389E74BC4A03A1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LesseeOperatingAndFinanceLeaseTerm" xlink:label="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="locator" />
    <link:presentationArc order="46" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_mtn_LesseeOperatingAndFinanceLeaseTerm_D51EDDD3A612F3172A8F9E74BC4AA4FD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability" xlink:label="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="locator" />
    <link:presentationArc order="47" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_4C6718EDB904F5460BF79E74BC4AC0E8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="locator" />
    <link:presentationArc order="48" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_4BA2BD49A1B154A15A209E74BC424B48" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList_952F29A62AF3F698B8389E74BC7EEA8A" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LeasesNotes" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="loc_us-gaap_LeasesAbstract_F8AB5D1A41C2078C49488AE9921023E9" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="loc_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_F8AB5D1A41C2078C49488AE9921023E9" xlink:to="loc_us-gaap_LeasesOfLesseeDisclosureTextBlock_DCA73F713373C59C638E8AF297CF6D17" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LeasesTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeasesAbstract" xlink:label="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LeaseCostTableTextBlock" xlink:label="loc_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:to="loc_us-gaap_LeaseCostTableTextBlock_267C914165A65296DB268CF335E32E4F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashFlowSupplementalDisclosuresTextBlock" xlink:label="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:to="loc_us-gaap_CashFlowSupplementalDisclosuresTextBlock_43C1452607E645FCBD858CF433684048" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock" xlink:label="loc_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:to="loc_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock_4F563EC902711C9A243F8CF4F69D5B52" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock" xlink:label="loc_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LeasesAbstract_998BA3110414DAD200EC8CF335E3B5B7" xlink:to="loc_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock_C4E45D3C6791106F02BC8CF558DD78B6" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LongTermDebt" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_2B41DF818984B529DE325D5DFF65D7DE" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="loc_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_2B41DF818984B529DE325D5DFF65D7DE" xlink:to="loc_us-gaap_DebtDisclosureTextBlock_4F0F52EF09984969BD6F5D5DFF651D28" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtOtherDisclosuresAbstract" xlink:label="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities" xlink:label="loc_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities_0ECC4AA695CAA2EB85D1B211F02A9BF5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_CD30CA3E5D0C66DDAD81B211F02A5B3B" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_CD30CA3E5D0C66DDAD81B211F02A5B3B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleOfOtherRealEstate" xlink:label="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_ProceedsFromSaleOfOtherRealEstate_40C7F12C5993D5459F8CB211F02B621F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_FA52A22DFFA1B58065C4B211F02BC04F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_3E82C538313EEA33BBE7B211F02B60B2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_5A5908859D97F28383DAB211F02B1848" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_7DCE717AA38BCF2FABAFB211F02CB89F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_02C40D8ED3829BB7C0DEB211F02C38B3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_D0B66789528EC86C301EB211F02C2354" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_FF787B508266F29774D5B211F02C8CEE" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_LongTermDebt_FF787B508266F29774D5B211F02C8CEE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaap_InterestExpenseDebt_0F5BDD01A25817AA29F6B211F02C5A96" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_InterestExpenseDebt_0F5BDD01A25817AA29F6B211F02C5A96" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_D97CC47BF2E52F67FD3CB211F02C3949" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_E3E3271BFF1260B8FB30B211F02AB839" xlink:to="loc_us-gaap_AmortizationOfFinancingCosts_D97CC47BF2E52F67FD3CB211F02C3949" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtOtherDisclosuresAbstract" xlink:label="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongTermDebtOtherDisclosuresAbstract_A10FA32CD2E15871B9EDB211F03D1DB5" xlink:to="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateAxis_5477C3559AC17B7A9BD4B211F03E2D54" xlink:to="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear1Member" xlink:label="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_ExtensionYear1Member_5AAAC6F183AB634257F0B211F03E4771" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExtensionYear2Member" xlink:label="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_ExtensionYear2Member_0C323D841D385CC259F6B211F03F1DF0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EventofDefaultMember" xlink:label="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateDomain_7AF847EBD0EC41162F8FB211F03E297D" xlink:to="loc_mtn_EventofDefaultMember_AB7F214A770FCEEE2C05B211F03F65BB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseAxis" xlink:label="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_55D9D2C221AB938082F4B211F03FE369" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExpectedToBeRecognizedInOneYearMember" xlink:label="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_UnrecognizedCompensationExpenseDomain_10906D029284C7C2928AB211F03FCA3D" xlink:to="loc_mtn_ExpectedToBeRecognizedInOneYearMember_089AF596A1F2FE8B2A92B211F0402AFE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_CurrencyAxis" xlink:label="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:type="arc" />
    <link:loc xlink:href="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_CurrencyAxis_8243D9786DA4FBFF83BAB211F0406077" xlink:to="loc_currency_AllCurrenciesDomain_08FA8777C86C5F8BE0A7B211F04073C4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_884C134F7F2394BA827FB211F040C950" xlink:to="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ScenarioUnspecifiedDomain_4BE4E42596BFB8C480D7B211F04025E1" xlink:to="loc_srt_ScenarioForecastMember_F8926EE18C549E5B719FB211F04150C5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_2903760600C1B852F51FB211F041DC56" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:to="loc_mtn_PeakResortsInc.Member_29B134AE42D79114B633B211F041155A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_20C54FE41D25940BD464B211F0418EFD" xlink:to="loc_mtn_CanyonsMember_7A37DBCA421F370F770BB211F0423155" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_F1C93B92D6BF66F2BA26B211F042DEB6" xlink:to="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:to="loc_srt_MaximumMember_E525007E022A4272BC41B211F0425F93" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_E0AAA956CF1E69917810B211F042F1B5" xlink:to="loc_srt_MinimumMember_9BF22CAA28A5D21A0DF1B211F04288C7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentByTrancheAxis" xlink:label="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheOfDebtDomain" xlink:label="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_DebtInstrumentByTrancheAxis_6771780FE8FF3E4D81C6B211F043A05F" xlink:to="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheaMember" xlink:label="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:to="loc_mtn_TrancheaMember_C05E423FBAC4B5684794B211F043218F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TrancheBMember" xlink:label="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_TrancheOfDebtDomain_B1A889E2322F8FD2A25AB211F04307F4" xlink:to="loc_mtn_TrancheBMember_E6A67AA45A8C871A9568B211F0435A28" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_EBEEABDCCCA87C5084E2B211F0449ADE" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_HunterMountainSecuredNoteMember" xlink:label="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountSnowSecuredNoteMember" xlink:label="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_A6.25NotesMember" xlink:label="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_A6.25NotesMember_F1C5E97827243042C624B211F044B64D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ColoradoWaterConservationBoardNoteOutstandingMember" xlink:label="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_E30122125D56FD532824B211F04544EB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BreckenridgeTerraceMember" xlink:label="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_BreckenridgeTerraceMember_FE0AD3CE89CB9BE144E6B211F045B3A6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TarnesMember" xlink:label="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_TarnesMember_5E0C89C82CFC626EE9D2B211F0456F6A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BcHousingMember" xlink:label="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_BcHousingMember_B1657277C5B2265BF6CBB211F04581A3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TenderfootMember" xlink:label="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_TenderfootMember_BEC72F0C1C915A8B157DB211F045ECA4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_1487B7691791B6B40F1CB211F0447D91" xlink:to="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_93603139F35B74A5D1B5B211F0467B66" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes1Member" xlink:label="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotes1Member_57169A800F2CEF825F32B211F0461E9C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_us-gaap_LineOfCreditMember_03BA736D61F2786CA28EB211F0463CBA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WhistlerCreditAgreementrevolverMember" xlink:label="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_WhistlerCreditAgreementrevolverMember_D996504BD748D4498627B211F047ACA1" xlink:type="arc" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EPRSecuredNotesMember_64CBA2FFCA2EABA26995B211F0456135" xlink:type="arc" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotesMember_8A921F972273479BA9ACB211F046B512" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanMember" xlink:label="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanMember_16D323E5D6A79CE0F59EB211F047B033" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanHedgedPortionMember" xlink:label="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanHedgedPortionMember_476999C142A19A32BAEFB211F047C5DF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TermLoanUnhedgedPortionMember" xlink:label="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_TermLoanUnhedgedPortionMember_D177CAA4BAE2528906C2B211F0482A5B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EmployeeHousingBondsMember" xlink:label="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EmployeeHousingBondsMember_E4917BE2517AEB89FFBDB211F0483523" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsObligationMember" xlink:label="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_CanyonsObligationMember_CC74866216090ECB7BD3B211F0482FE1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherDebtMember" xlink:label="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_OtherDebtMember_8713E00919389898478FB211F04961ED" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AlpineValleySecuredNoteMember" xlink:label="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_AlpineValleySecuredNoteMember_9FD8D3DBEC157C5DA78EB211F049A4A6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BostonMillsBrandywineSecuredNoteMember" xlink:label="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_BostonMillsBrandywineSecuredNoteMember_BB8525EEB1DA6F7B8769B211F0492441" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_JackFrostBigBoulderSecuredNoteMember" xlink:label="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_JackFrostBigBoulderSecuredNoteMember_1B8F62B82053979C6E95B211F049AD15" xlink:type="arc" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_MountSnowSecuredNoteMember_B1ABB277D1582F0C28FFB211F0442477" xlink:type="arc" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_HunterMountainSecuredNoteMember_15DAE68B96BA8E5D86BCB211F04487B1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotes2Member" xlink:label="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_76E12A6C2162722E78FEB211F0462738" xlink:to="loc_mtn_EB5DevelopmentNotes2Member_145B448406A7A7A6ED3DB211F04ACF49" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_EF303150414DBFF1D494B211F03EF5A9" xlink:to="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_63C7529E41B3AD0F690EB211F04A6DD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionSharePrice" xlink:label="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessAcquisitionSharePrice_4F7EDB47F0D6DAA8DB44B211F04A405E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet" xlink:label="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet_AB1E98558050C409B5D1B211F04A1E8D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity_3506BF898281AFE46B8BB211F04A6361" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution_E91D21DBECDD3D9851EFB211F04B6B11" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit_8DE237655322EBD28949B211F04B637B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit_DD09331ABAEDC89D2D58B211F04BF6FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries_5889EB042CF1C482C0A2B211F04BD010" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries" xlink:label="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries_F0BED36DFC284A9D8AFDB211F04B8B29" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_FE6DD3AF2526FD0D6BF6B211F04BF311" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtDescription" xlink:label="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtDescription_4973E12E6F32ADD2B0E6B211F04CF468" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCredit_676E08A2C813D03ADAE4B211F04CD381" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentPeriodicPayment_DDB3375F5FFA0EE6E062B211F04C6F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_42D8CC4497E24679D7F8B211F04C67CC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentRedemptionDescription" xlink:label="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentRedemptionDescription_E64F0D07312B6870792AB211F04C6A72" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AnnualInterestRateIncreaseCap" xlink:label="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_AnnualInterestRateIncreaseCap_6794878DBDB3D6F36EB7B211F04D0881" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRAdditionalInterestRate" xlink:label="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_EPRAdditionalInterestRate_CCBECEA992BB83707410B211F04D95A5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtServiceReserve" xlink:label="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_DebtServiceReserve_7B23AEFBAA2A6585DDEBB211F04D7388" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentFaceAmount_E6C3667A2006130F0E5AB211F04DDC87" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_7AE64376D8F22C4EB1FDB211F04DC724" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LineOfCreditFacilityInitiationDate1" xlink:label="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LineOfCreditFacilityInitiationDate1_38B6D4C80864C4F6D557B211F04EC697" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:label="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_5A30124CF991C1A59B55B211F04EF0AD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InterestRateSwapNotionalAmount" xlink:label="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_InterestRateSwapNotionalAmount_4EDD2CFFE3D30F97144AB211F04E3FD2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DerivativeFixedInterestRate_AC8F4DF2AA5762091DB4B211F04E8D28" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromUnsecuredNotesPayable" xlink:label="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="locator" />
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ProceedsFromUnsecuredNotesPayable_0FB69EA08C7A9D6E72D1B211F04E0DA6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="locator" />
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebt_431E7B70BFBC6007E834B211F04E7891" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="locator" />
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate_E237BBEB82D6B7232CA9B211F04F85B3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="locator" />
    <link:presentationArc order="28" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_CF26D5BA40BDBB08A2E8B211F04F9201" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="locator" />
    <link:presentationArc order="29" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtCurrent_E04E0F98B8FBDE512116B211F04FFEE9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="locator" />
    <link:presentationArc order="30" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtNoncurrent_94963D1C2D98F0E6FA5BB211F04F6524" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="locator" />
    <link:presentationArc order="31" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_InterestExpenseDebt_BDCE674DBB725D36006AB211F04F501E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="locator" />
    <link:presentationArc order="32" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_AccretionExpense_FB54330375A24614F025B211F04F5A1A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DebtInstrumentYearofMaturity" xlink:label="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="locator" />
    <link:presentationArc order="33" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_DebtInstrumentYearofMaturity_C7E6732BE3C2B9562CB7B211F04F026F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeStart1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="locator" />
    <link:presentationArc order="34" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDateRangeStart1_4EB70575E74AF4395A7FB211F0503654" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDateRangeEnd1" xlink:label="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="locator" />
    <link:presentationArc order="35" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDateRangeEnd1_9A1971A6944BE89A99EAB211F0504F13" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="locator" />
    <link:presentationArc order="36" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_38DB280E05D944BF0E25B211F050F493" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="locator" />
    <link:presentationArc order="37" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_477543B610BF2BFEE723B211F0506989" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="locator" />
    <link:presentationArc order="38" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentMaturityDate_11695F8ECC6A674C3A48B211F05017F3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="locator" />
    <link:presentationArc order="39" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateDuringPeriod_0124375C76C70514F126B211F050DB39" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="locator" />
    <link:presentationArc order="40" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_C6427A3A4E6DBC915F15B211F051B927" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="locator" />
    <link:presentationArc order="41" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1_3BE079455C7C13E49DDDB211F051F5A3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InitialCapitalLeaseTerm" xlink:label="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="locator" />
    <link:presentationArc order="42" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_InitialCapitalLeaseTerm_BB7AE11FDAF63C94DDA4B211F051D903" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OptionalLeaseRenewalTerm" xlink:label="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="locator" />
    <link:presentationArc order="43" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_OptionalLeaseRenewalTerm_F76203BF6D5A75243B44B211F05114D5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MinimumCapitalLeasePaymentAnnual" xlink:label="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="locator" />
    <link:presentationArc order="44" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_MinimumCapitalLeasePaymentAnnual_AF301C544D599ADA0BFAB211F0513EF8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AdjustmentsToCapitalLeaseAnnualPayments" xlink:label="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="locator" />
    <link:presentationArc order="45" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_AdjustmentsToCapitalLeaseAnnualPayments_261A49AA3B254035791EB211F051FB74" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="locator" />
    <link:presentationArc order="46" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F051F8644BB137051C12B211F0527C9D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="locator" />
    <link:presentationArc order="47" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_AmortizationOfFinancingCosts_230F1A6C7A097C16426EB211F052CB06" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntercompanyForeignCurrencyBalanceAmount" xlink:label="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="locator" />
    <link:presentationArc order="48" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_IntercompanyForeignCurrencyBalanceAmount_FFE95C16CEBCD8F7A47EB211F052AF70" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="locator" />
    <link:presentationArc order="49" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_650E987A8F3A9A54FDDDB211F052E45F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BusinessCombinationCashConsiderationTransferred" xlink:label="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="locator" />
    <link:presentationArc order="50" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_BusinessCombinationCashConsiderationTransferred_1E199635FAE215D16176B211F05274F1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredOther1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="locator" />
    <link:presentationArc order="51" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferredOther1_9A0D376572DFAB6301D3B211F0522DE4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="locator" />
    <link:presentationArc order="52" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_44C38F08C75BD5F5C755B211F0531546" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="locator" />
    <link:presentationArc order="53" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_ProceedsFromRepaymentsOfDebt_DA0698F89D5E291F2F2AB211F053632B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTradeNames" xlink:label="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="locator" />
    <link:presentationArc order="54" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_IndefiniteLivedTradeNames_3BDE1D36B44BFD4CD9D1B211F0530D58" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedPropertyManagementContracts" xlink:label="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="locator" />
    <link:presentationArc order="55" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_mtn_IndefiniteLivedPropertyManagementContracts_80006EE5B266EAAE12EFB211F053FC3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="locator" />
    <link:presentationArc order="56" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_DC1C3183F3A627AE36C9B211F053B11C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="locator" />
    <link:presentationArc order="57" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4BD8AAF68547909CA115B211F0533FC7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="locator" />
    <link:presentationArc order="58" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1525FCF5B89FBBF78668B211F0539A8A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="locator" />
    <link:presentationArc order="59" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_1C0A0F5BBB77CF45D1C8B211F0545421" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="locator" />
    <link:presentationArc order="60" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_505A4DD12B2AED726AC6B211F04AAD5B" xlink:to="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_4664A5175B0AC36887A7B211F054BD39" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/LongTermDebtTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:to="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock_88E4A004AF716268EDE95D5E03D959E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_0D0D942246C4AFA461825D5E03D95385" xlink:to="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_2CFAD94E9748471FF5EC5D5E03D9F00E" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShare" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="loc_us-gaap_EarningsPerShareReconciliationAbstract_F27C11DEADCBBDDD0C5F5D5E06829CDE" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareReconciliationAbstract_F27C11DEADCBBDDD0C5F5D5E06829CDE" xlink:to="loc_us-gaap_EarningsPerShareTextBlock_51070430B11F66B318185D5E06831EB1" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="loc_us-gaap_EarningsPerShareReconciliationAbstract_92EC08FCC6658E587B15B211F06AF752" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareReconciliationAbstract_92EC08FCC6658E587B15B211F06AF752" xlink:to="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_8315D1C76A375A46B938B211F06A26A2" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PeakResortsInc.Member" xlink:label="loc_mtn_PeakResortsInc.Member_F7E16576108A8674F224B211F06B3FF7" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_42A6C995640D473BB6F0B211F06B0200" xlink:to="loc_mtn_PeakResortsInc.Member_F7E16576108A8674F224B211F06B3FF7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_AB00CD1A0FB146B1304DB211F06BD422" xlink:to="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_4A7AC4B54B0F9D0E83F4B211F06CF0D9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:to="loc_us-gaap_CommonStockMember_4A7AC4B54B0F9D0E83F4B211F06CF0D9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesMember" xlink:label="loc_mtn_ExchangeableSharesMember_8E982954C6F93D6D6D5AB211F06C3358" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_F26CCFFB6D26245B8DBDB211F06B4DC8" xlink:to="loc_mtn_ExchangeableSharesMember_8E982954C6F93D6D6D5AB211F06C3358" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_3FD7CAF141007B444973B211F06C30E9" xlink:to="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_FCE208A296263418BA64B211F06CFBAC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ScenarioUnspecifiedDomain_C19B479B63B5A9FD90A5B211F06C6206" xlink:to="loc_srt_ScenarioForecastMember_FCE208A296263418BA64B211F06CFBAC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_B1B0C1F6294CCC71FF6DB211F06A8854" xlink:to="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_73A2C5C34B2EBAB270CCB211F06DCF11" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_CC648E515F21BA71331BB211F06DFA68" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_NetIncomeLoss_A65A36291168D13EA7DAB211F06D4DB5" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingCommon" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_WeightedAverageNumberofSharesOutstandingCommon_8671FF77071DD5292190B211F06EB028" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_WeightedAverageNumberofSharesOutstandingExchangeable" xlink:label="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_WeightedAverageNumberofSharesOutstandingExchangeable_963C43464E0AC12D02E5B211F06EE679" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_EC5578CF4E9830EBE4FBB211F06E9325" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_DF88E0FCA869C15C3FD8B211F06E5888" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_545B5AB4CFC2D731E750B211F06FDE16" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_EarningsPerShareBasic_ACB42005C29622B97E6FB211F06FDE8E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_EarningsPerShareDiluted_E543A21BFBB28D42BC98B211F06F8DC6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_5DAD4AC2E903EEC9A575B211F06FAAF4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_CommonStockDividendsPerShareCashPaid_10594BD1485DA8F7F750B211F06F5B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_52948549CF45A829D623B211F06FC13A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_PaymentsOfDividends_F031BA42CC23CEF08E4FB211F070E908" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt_3B803031192C04C4E603B211F07013AC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_6BC3C369D2F03099070EB211F070B725" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1BCC091814E69B39D53FB211F070E38A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExchangeableSharesParValuePerShare" xlink:label="loc_mtn_ExchangeableSharesParValuePerShare_0C5C7E545EE21AC78054B22438D0FC63" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_0A3C482E326F60C341B7B211F06D1AF2" xlink:to="loc_mtn_ExchangeableSharesParValuePerShare_0C5C7E545EE21AC78054B22438D0FC63" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/NetIncomePerCommonShareTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="loc_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareReconciliationAbstract_B4E53C17199E855D2D355D5DFFF0AB4C" xlink:to="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_8954ECC2DDE9E81EBD2F5D5DFFF0F922" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/OrganizationAndBusiness" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_DCD68EB2F7E3B371EBA25D5E04FAC220" xlink:to="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_66A868A7309B9E9A3B455D5E04FA84F5" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactions" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_C898EC47AE7A88F129D45D5DFF6D96F4" xlink:to="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_577F6A965178808F2D6D5D5DFF6D9439" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RelatedPartyTransactionsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_FDA11D4AD048B419C5708396D76BB1BB" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_FDA11D4AD048B419C5708396D76BB1BB" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_4B7948572BBF0FC04AD18396D76C3D1C" xlink:to="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_BeaverCreekResortCompanyOfColoradoMember" xlink:label="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:to="loc_mtn_BeaverCreekResortCompanyOfColoradoMember_00363F1499A54DB8CAC88396D76CA534" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember" xlink:label="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_8D32F9649533B0A31CFB8396D76D8A64" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_0CA3C9DB2EB589AB5F608396D76CB640" xlink:to="loc_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember_8D32F9649533B0A31CFB8396D76D8A64" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_26E1BFFC61734A30E7558396D76C3FA4" xlink:to="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RightToAppointNumberOfDirectors" xlink:label="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_mtn_RightToAppointNumberOfDirectors_3A850ECD0EA56EB42FE78396D76DC3DD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfDirectors" xlink:label="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_mtn_NumberOfDirectors_7E9238B1B3D0BABCA8DC8396D76D7C5E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1F9267CD3AE11289EAF08396D76EA529" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_5371E897B435DB2357098396D76EBA7D" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage_5371E897B435DB2357098396D76EBA7D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromRelatedParties" xlink:label="loc_us-gaap_RevenueFromRelatedParties_EC63B9F011FDC7ED03FD8396D76ED1B1" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_364B7A9302579963B2ED8396D76D6694" xlink:to="loc_us-gaap_RevenueFromRelatedParties_EC63B9F011FDC7ED03FD8396D76ED1B1" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlans" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetirementAndProfitSharingTextBlock" xlink:label="loc_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8718FCA1F4A45D58DB635D5E06A643FA" xlink:to="loc_mtn_RetirementAndProfitSharingTextBlock_6FE3AF0D56E88073F7205D5E06A765BE" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CompensationAndRetirementDisclosureAbstract" xlink:label="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanEmployeeContributionPercentage" xlink:label="loc_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_mtn_DefinedContributionPlanEmployeeContributionPercentage_7B4CA15C4D60068C7ECD5D5E05C47714" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent" xlink:label="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent_4BDE6BB825FACD8625125D5E05C5E35C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanEmployerContributionPercentage" xlink:label="loc_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_mtn_DefinedContributionPlanEmployerContributionPercentage_4575038319AAA4440AF85D5E05C6C006" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths" xlink:label="loc_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths_A201FCBFA3BCEDF5E76A5D5E05C6CF67" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours" xlink:label="loc_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours_D2B7894F5155998E7D705D5E05C6E4AB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours" xlink:label="loc_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours_22FAC2B7DB26A0D7EA455D5E05C63E42" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="loc_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CompensationAndRetirementDisclosureAbstract_8C9906FB11665BB3C5F15D5E05C443F9" xlink:to="loc_us-gaap_DefinedContributionPlanCostRecognized_26232F177F3FB33B6C8C5D5E05C717EC" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RevenuesContractBalancesDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ContractBalancesAbstract" xlink:label="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="loc_us-gaap_DeferredRevenueCurrent_36DE7E90E9A8516B56828396D88EE4B6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiability" xlink:label="loc_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="loc_us-gaap_ContractWithCustomerLiability_5B5BD8C41F624BB3754183C7F799B0BC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:label="loc_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="loc_us-gaap_ContractWithCustomerLiabilityRevenueRecognized_A5A0345C9C91D6CBC6F583C88F3371B8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod" xlink:label="loc_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="loc_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod_48701FF09FDEC997ED798396D88F8D62" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_2E650BF7B6618BD525118396D88F945A" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ContractBalancesAbstract_B51F4F22C00B3B6E46048396D88EA76F" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_2E650BF7B6618BD525118396D88F945A" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CoststoObtainContractswithCustomersAbstract" xlink:label="loc_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedContractCostNet" xlink:label="loc_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:to="loc_us-gaap_CapitalizedContractCostNet_650408B08CB86623CC965D5E024A33EC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedContractCostAmortization" xlink:label="loc_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_CoststoObtainContractswithCustomersAbstract_CA8ABA8D056B6F945F985D5E024A42F7" xlink:to="loc_us-gaap_CapitalizedContractCostAmortization_1B097CA175A127DA14FB5D5E024BCCD5" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RevenuesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTable" xlink:label="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_20F9D51EF2B9D68A9A1F981677D6E944" xlink:to="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_E9000CDFD65C7A6EF589981677D7809B" xlink:to="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_590EB48BC93E8B4E38F9981677D76BFF" xlink:to="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductOrServiceAxis" xlink:label="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ProductsAndServicesDomain" xlink:label="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductOrServiceAxis_EF53AA93CC3EDC95B30A981677D8C9B8" xlink:to="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:type="arc" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_LiftTicketsMember_3F8E83C9A0CDE1C2D69E981677D8DD47" xlink:type="arc" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_SkiSchoolMember_9C78724A835D39853440981677D81287" xlink:type="arc" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_DiningMember_A4562EE2B74407DB6922981677D87296" xlink:type="arc" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_RetailRentalMember_7F773B8C40A2EA006509981677D8CA47" xlink:type="arc" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OtherMountainRevenueMember_D196609F0301DFE189E2981677D749BE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OwnedHotelRevenueMember" xlink:label="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OwnedHotelRevenueMember_437C819C2803128A513A981677DA061F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ManagedcondominiumroomsMember" xlink:label="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_ManagedcondominiumroomsMember_CCF0C76253B511FAFEC5981677DAB0A7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_TransportationMember" xlink:label="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_TransportationMember_62B4722B546EED8E5004981677DA072A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GolfMember" xlink:label="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_GolfMember_93F6B7440A5BF0E3E0F3981677DAFD39" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLodgingRevenueMember" xlink:label="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_OtherLodgingRevenueMember_D405DC7777F66D686F91981677DAF676" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember" xlink:label="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember_4843F28327CA514948BA981677DB077E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PayrollcostreimbursementsMember" xlink:label="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ProductsAndServicesDomain_FBD9D8D5C73316CDAD67981677D8C3D2" xlink:to="loc_mtn_PayrollcostreimbursementsMember_4CD3D735D1B8AB3BE1DD981677DB6FB5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems" xlink:label="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueTable_27AC8CB1BB482616E9B8981677D6E230" xlink:to="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralRevenue" xlink:label="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_SeasonPassCreditDeferralRevenue_9DB44FCC0D05DA9DAC07981677DBCC64" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_7A2DA424C1CAC7EF9F86981677DCB54C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_MountainRevenueNet_F8002986315A42C5856E981677DC768B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_LodgingRevenueNet_AD11EE7F0C60D0DBA953981677DC89AB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_ResortRevenueNet_6094C6D5565B7B890F98981677DC06DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_RealEstateRevenue_8E85A277607B3C86FCDC981677DCFECA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_5306C46E4739911FCA64981677DCD0C1" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_us-gaap_Revenues_5306C46E4739911FCA64981677DCD0C1" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SeasonPassCreditDeferralCosts" xlink:label="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems_0AFE307E8EFDF8C5CDC1981677DB35E1" xlink:to="loc_mtn_SeasonPassCreditDeferralCosts_87E66C862518F934CC09981677DCEF05" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RevenuesNotes" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_AB1CE6084238D8603CB75D5E0253ADA4" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_AB1CE6084238D8603CB75D5E0253ADA4" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerTextBlock_13156B283C6EBD6693525D5E0253C530" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/RevenuesTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_FEE5879A5CD28FFD34AF5D5E0316D651" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:label="loc_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_FEE5879A5CD28FFD34AF5D5E0316D651" xlink:to="loc_us-gaap_DisaggregationOfRevenueTableTextBlock_DFC71A2A760A82D750805D5E03172663" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SegmentInformation" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_890FC40BF9447C88D8465D5E02F9D505" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingAbstract_890FC40BF9447C88D8465D5E02F9D505" xlink:to="loc_us-gaap_SegmentReportingDisclosureTextBlock_7E5DB2E644D57C6352825D5E02F96C81" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_EED897941B4F3BC429A480B19D146AF6" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingAbstract_EED897941B4F3BC429A480B19D146AF6" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_6FAB07CF8805A422CC9980B19D142353" xlink:to="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LiftTicketsMember" xlink:label="loc_mtn_LiftTicketsMember_38A08F344B8D361AAD9080B19D15DA5E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_LiftTicketsMember_38A08F344B8D361AAD9080B19D15DA5E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_SkiSchoolMember" xlink:label="loc_mtn_SkiSchoolMember_BBA0A8DF3C696DB1F3D880B19D15BE8F" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_SkiSchoolMember_BBA0A8DF3C696DB1F3D880B19D15BE8F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_DiningMember" xlink:label="loc_mtn_DiningMember_66B5E7D72523E66AC60980B19D1541D7" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_DiningMember_66B5E7D72523E66AC60980B19D1541D7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RetailRentalMember" xlink:label="loc_mtn_RetailRentalMember_4FD7A6D2042BBE72ADE980B19D155C62" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_RetailRentalMember_4FD7A6D2042BBE72ADE980B19D155C62" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherMountainRevenueMember" xlink:label="loc_mtn_OtherMountainRevenueMember_6E1E6139F84A0025BB5080B19D1645A9" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_OtherMountainRevenueMember_6E1E6139F84A0025BB5080B19D1645A9" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortMember" xlink:label="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_FB44C0BC9208F467086580B19D16D779" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:to="loc_mtn_MountainMember_FB44C0BC9208F467086580B19D16D779" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingMember" xlink:label="loc_mtn_LodgingMember_5EC825CEC984E34584A280B19D162FD0" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_ResortMember_0C46612132EE82CDB53180B19D162EB6" xlink:to="loc_mtn_LodgingMember_5EC825CEC984E34584A280B19D162FD0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateMember" xlink:label="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_9A100704F4638AE21B1780B19D151B6D" xlink:to="loc_us-gaap_RealEstateMember_1A3287F51799137BA75480B19D167550" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_44945AC12BEEAB2CD53680B19D142260" xlink:to="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainRevenueNet_9A3441F3E17E3EA523DF80B19D17F315" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_5903B406A81842B39DAD80B19D171E27" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_LodgingRevenueNet_5903B406A81842B39DAD80B19D171E27" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortRevenueNet" xlink:label="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ResortRevenueNet_B9B1BF6148A6498B013880B19D17893B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateRevenue" xlink:label="loc_mtn_RealEstateRevenue_F162D3381A0DC37DCD4E80B19D179F03" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_RealEstateRevenue_F162D3381A0DC37DCD4E80B19D179F03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_Revenues_F993CCD695070584A3EE80B19D181763" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainExpensesNet" xlink:label="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainExpensesNet_35E2E463E1A2166BFE5380B19D182A77" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingExpensesNet" xlink:label="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_LodgingExpensesNet_3D9FA33DAF1C10820DDA80B19D18FA1E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ResortExpensesNet" xlink:label="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ResortExpensesNet_BBC928AE0BB1F5D2ACB680B19D184354" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateExpense" xlink:label="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_RealEstateExpense_B68210C2D5A6F543023980B19D18B0B2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OperatingCostsExpensesAndCostOfSales" xlink:label="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_OperatingCostsExpensesAndCostOfSales_7EAD28148EEBD86D923380B19D18CD82" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GainOnSaleOfRealProperty" xlink:label="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_GainOnSaleOfRealProperty_E0CF6C1C666C8E9857AF80B19D1915E7" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainEquityInvestmentIncomeLossNet" xlink:label="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_MountainEquityInvestmentIncomeLossNet_B97B76D0393976FDCB1680B19D193970" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EarningBeforeInterestTaxesDepreciationAndAmortization" xlink:label="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization_0F01668491F741D54DFD80B19D19550A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryRealEstate" xlink:label="loc_us-gaap_InventoryRealEstate_DACB920E10434FA9523B80B19D19F183" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InventoryRealEstate_DACB920E10434FA9523B80B19D19F183" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_A19A652BE4CEA6FE4C7780B19D1E0A5E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_E0B5EDACD5C1049E59A180D0431A3F6C" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_DepreciationAndAmortization_E0B5EDACD5C1049E59A180D0431A3F6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_1BD0DEBE9429889DA3D980D0A8543BA5" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_AssetImpairmentCharges_1BD0DEBE9429889DA3D980D0A8543BA5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets" xlink:label="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_GainLossOnDispositionOfAssets_397CCD8B425D9603B7B480D1141DCA42" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ChangeinFairValueofContingentConsideration" xlink:label="loc_mtn_ChangeinFairValueofContingentConsideration_720431D98F4F5E27B57380D15E6496AF" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_mtn_ChangeinFairValueofContingentConsideration_720431D98F4F5E27B57380D15E6496AF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InvestmentIncomeInterest_FB3D08CD0E11156CBDEB80D1A33BF2E4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_443E619BB5C8C12A674C80D20046F408" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_443E619BB5C8C12A674C80D20046F408" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_InterestExpense_22B824CA5661D1CDC57480D254FFF430" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_3118957D6A4B7AA8DCB280B19D1FACC3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_045E07B72393FE346A2480B19D1F22E0" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_ProfitLoss_045E07B72393FE346A2480B19D1F22E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="locator" />
    <link:presentationArc order="25" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_0F2B4A98169154F1C3B280B19D1FA276" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_D05BEB357133987DFBC380B19D1F453E" xlink:type="locator" />
    <link:presentationArc order="26" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_NetIncomeLoss_D05BEB357133987DFBC380B19D1F453E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_E6323B181416581EA7C480B19D1FAB73" xlink:type="locator" />
    <link:presentationArc order="27" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C78DC7F63AC7BDA9496680B19D1677DF" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_E6323B181416581EA7C480B19D1FAB73" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentsGeographicalAreasAbstract" xlink:label="loc_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentsGeographicalAreasAbstract_28A66B6E97E46982065880B19CDD2A78" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementGeographicalAxis" xlink:label="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_SegmentGeographicalDomain" xlink:label="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementGeographicalAxis_D8D5708AD866BE73C84380B19CDDEB2B" xlink:to="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CanadaRevenueAgencyMember" xlink:label="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_CanadaRevenueAgencyMember_5A1E2207CBEAAB7BFE9880B19CDE9A1C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionForeignMember" xlink:label="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_GeographicDistributionForeignMember_56FF1B4F49D985E081B080B19CDE02B5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeographicDistributionDomesticMember" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_SegmentGeographicalDomain_3EC1292A980509D44A0380B19CDE0686" xlink:to="loc_us-gaap_GeographicDistributionDomesticMember_69DEDCCC94FDB640633480B19CDF2132" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsAxis" xlink:label="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ConsolidationItemsDomain" xlink:label="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ConsolidationItemsAxis_C84294077291D18FE99080B19CDF5545" xlink:to="loc_srt_ConsolidationItemsDomain_068F9F96F41E58026BAE80B19CDFE6AD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_0E593A57E9A0124C929B80B19CDF2223" xlink:to="loc_us-gaap_SegmentDomain_45B631D06464D11F4E5080B19CDFB304" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsAxis" xlink:label="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsDomain" xlink:label="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsegmentsAxis_98873314760AEFEBFA0A80B19CE08B6E" xlink:to="loc_us-gaap_SubsegmentsDomain_99959236B15C51652D0080B19CE0A89B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsAxis" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SubsegmentsConsolidationItemsDomain" xlink:label="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsegmentsConsolidationItemsAxis_FDB69E25AB9684AA258580B19CE00379" xlink:to="loc_us-gaap_SubsegmentsConsolidationItemsDomain_DB3F81302FD1EA2EA4C780B19CE041BA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_73299FD2454FBDCCEDF480B19CDD10B5" xlink:to="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_B8C6726E9E6D657BADE780B19CE12009" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="loc_us-gaap_Revenues_B8C6726E9E6D657BADE780B19CE12009" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_A0116769D63D92D4B22780B19CE07CD8" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_EEA80A6AC527EC128CBA80B19CE1D817" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SegmentInformationTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:to="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_28E339654D2527668C705D5E05D4B3EC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock" xlink:label="loc_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentReportingAbstract_F84341EE348D5741D9625D5E05D4BA75" xlink:to="loc_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock_C3A4F85A81B10D9C8C5C5D5E05D577D4" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialData" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_26690AB17F8DB4368A595D5E030EE565" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="loc_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_26690AB17F8DB4368A595D5E030EE565" xlink:to="loc_us-gaap_QuarterlyFinancialInformationTextBlock_A4652777ADCE98FECCEC5D5E030ED265" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsByTypeAxis" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:to="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfFourthQuarterEventsTypeDomain" xlink:label="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EffectOfFourthQuarterEventsByTypeAxis_37F2685082F23D91929B5D5E016EFA03" xlink:to="loc_us-gaap_EffectOfFourthQuarterEventsTypeDomain_8F1C411A89009D8B5D625D5E016FE545" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_9E825C7CD319949B4F5D5D5E016FF909" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_CDCF62A211482F3B51ED5D5E016CB192" xlink:to="loc_us-gaap_StatementLineItems_9E825C7CD319949B4F5D5D5E016FF909" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainRevenueNet" xlink:label="loc_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_mtn_MountainRevenueNet_EE8D7FA8985BE9A752625D5E016FE038" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingRevenueNet" xlink:label="loc_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_mtn_LodgingRevenueNet_4289593BB54DCB08D73B5D5E016F90C5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_Revenues_D276008533704D1526DB5D5E01709741" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_OperatingIncomeLoss_8E673A61191859F5489B5D5E017046F6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_ProfitLoss_8B8E60DD4B74D8AEBF265D5E0171AD2F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_NetIncomeLoss_6F353B1D5CD97991B7FA5D5E0171468A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_EarningsPerShareBasic_429E69C7CEDB31377C9D5D5E0171F9A8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_12CC0963FF1509AF2CF05D5E016C8AA1" xlink:to="loc_us-gaap_EarningsPerShareDiluted_AD01CE93B16F6D12E09D5D5E0171839D" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_QuarterlyFinancialInformationDisclosureAbstract" xlink:label="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_B469FE5667864C5A01D95D5DFFE3A770" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_QuarterlyFinancialInformationDisclosureAbstract_B469FE5667864C5A01D95D5DFFE3A770" xlink:to="loc_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_C87F41A8094FC8603ACD5D5DFFE451F0" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlan" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_1D482013790F13CD6EF85D5E00231924" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_1D482013790F13CD6EF85D5E00231924" xlink:to="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_71F80C1995EE181320445D5E00233577" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_43503BF2CEC5BE0E49495D5DFF32E65A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_43503BF2CEC5BE0E49495D5DFF32E65A" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_BF8BDB6570C6D226EBF65D5DFF33D207" xlink:to="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_3C9E0CEFD4680D9F86695D5DFF33B883" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:to="loc_srt_MaximumMember_3C9E0CEFD4680D9F86695D5DFF33B883" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_18DABCD3F846DC61D38B5D5DFF34B8FA" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_14B32ABA1C0240682D945D5DFF33AEEC" xlink:to="loc_srt_MinimumMember_18DABCD3F846DC61D38B5D5DFF34B8FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseAxis" xlink:label="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnrecognizedCompensationExpenseDomain" xlink:label="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_UnrecognizedCompensationExpenseAxis_6ACACF39E98AF43966E65D5DFF34F44E" xlink:to="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ExpectedToBeRecognizedInOneYearMember" xlink:label="loc_mtn_ExpectedToBeRecognizedInOneYearMember_1237C69150D2624E9C4E5D5DFF35E013" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_UnrecognizedCompensationExpenseDomain_2ABC13A1CCC065BAF95E5D5DFF34596C" xlink:to="loc_mtn_ExpectedToBeRecognizedInOneYearMember_1237C69150D2624E9C4E5D5DFF35E013" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_BF55FD582142CAC2B5175D5DFF380C59" xlink:to="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_AFC8CD3859CDB507CB635D5DFF386010" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ScenarioUnspecifiedDomain_2472C14CA79B0E67F9F05D5DFF386481" xlink:to="loc_srt_ScenarioForecastMember_AFC8CD3859CDB507CB635D5DFF386010" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_732B87502B568FC5AA155D5DFF3BBD4B" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_189193F0EA2715E43C685D5DFF3C478E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RestrictedStockUnitsRsusMember" xlink:label="loc_mtn_RestrictedStockUnitsRsusMember_BA573730D4418672391F5D5DFF3DAE6B" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_C1D378BDB731F4935D8B5D5DFF3B1018" xlink:to="loc_mtn_RestrictedStockUnitsRsusMember_BA573730D4418672391F5D5DFF3DAE6B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_2A982BE9B658B6066E985D5DFF32537F" xlink:to="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_3CEA889375BA021134025D5DFF3D3A47" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife_7FD55B027199D4BCB9625D5DFF3DC02B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_EE2817F99B0F6EFBE9AD5D5DFF3E5499" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_2B2140C528184992B0855D5DFF3E8E3D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_A7193E7E2628759E0ABE5D5DFF3EB7E2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_81FF2E0FDBDE8C3C9A255D5DFF3E6846" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares_679EA9643B9182450EEE5D5DFF45769D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_54A566FC9676E0C3BBF15D5DFF45237B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_84039FA132107CC15F835D5DFF45CDDC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_9D36A76E888B4F21780E5D5DFF457D0E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_200D4529A5A2873957795D5DFF461960" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_AD2C9A60DDAE4F6F5AAD5D5DFF464E91" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_D7C53D14581E002737935D5DFF3D286E" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions_C4D279A78DBC71CA55155D5DFF466895" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_7E507633D88ACCF843145D5E069A5BF0" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod_14B70EA99EEA56F027215D5E069AE0B6" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised" xlink:label="loc_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised_1DB96B4E84E5828BC0055D5E069B73ED" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod_03CE83DE020B8A791E6F5D5E069C2F01" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_3CCD8DFD49AFA1A7CE735D5E069C4752" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber_DBE79CDE1AC971ED8A885D5E069D829B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_EB3287F97AB1DA1E23C55D5E069D7D79" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice_F9F9ADEA4DB4796671595D5E069D0CEB" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice_D47573961F8EB8BE661F5D5E069D9230" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_392C909421B8E43728A35D5E069E70CA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice_716D8CD763541B4981EF5D5E069E09A4" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice_9B43315FCE410C8466585D5E069E2DC8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm_EB4A0FF1E92E727F89F55D5E069E5475" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm_2790ED80D62F83AAE3C95D5E069E4760" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue_CFBAD6BA337B4E8357335D5E06A09254" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber_75DAAC8FE65E01718AAC5D5E06A09956" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice_83C2F5E266F9043EFDDE5D5E06A02916" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1_A89A198A05BF65B4DCD15D5E06A1DB5C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_FD5E309390335FB68E365D5E06A1CB9C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_583DB7931FED93506DAB5D5E06995BBE" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue_E17991B7E5D9A6B4AD995D5E06A14AD2" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_CDF0A480B02BECF3EE365D5E06B1A168" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:to="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_8A075E9B6F2E0F01CADC5D5E06B2923D" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RestrictedStockUnitsRsusMember" xlink:label="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_87CDA54A2919D00183705D5E06B563BD" xlink:to="loc_mtn_RestrictedStockUnitsRsusMember_A6E44258733425DB64E15D5E06B66234" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_479AEC40F00AC393683D5D5E06B2A1CD" xlink:to="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_688620DCD271215985675D5E06B64875" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod_FDD9655E6C71577079C15D5E06B70B03" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod" xlink:label="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod_185D4E1164B6E02C0EE95D5E06B7CF06" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod_4B4EC1240A74D5DD63525D5E06B7821F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber_E21C785B0A9B8E4D8D285D5E06B83F35" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_7506C041830D264EEDB75D5E06B81549" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue_218DB7213039C0E1170A5D5E06B9DD3C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue_70116825DD12733EFB935D5E06B94AA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue_12EE82580506638868515D5E06B9277B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_5FA3691D64A8CA92B6F25D5E06B6EAB3" xlink:to="loc_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue_66A4687BDD9CCD4A15105D5E06B94D34" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_2F4E4AADFCF630A1CB065D5E060C6EB4" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_2F4E4AADFCF630A1CB065D5E060C6EB4" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:to="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_B1E105F79AC0446FEE1B5D5E060D516A" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_73DABA26621B6D3048C65D5E060DD48D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_403D3EBAA6E75F6542565D5E060DAF4B" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_73DABA26621B6D3048C65D5E060DD48D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_65429292CEC8E279CF6F5D5E060C8C17" xlink:to="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber" xlink:label="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber_4ED8300EA1E82D5C9B575D5E060EF82B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod_AC593BD79032079048535D5E061097D2" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod_093CD58522528CB3F03C5D5E06101239" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod_C1D818690ED6047BC0EE5D5E061035FA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_D6F1B84C192AE041E7395D5E06117B9F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue_1491497838986C7B4B3A5D5E0611BF8C" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue_4D843DBC3B51AF47F3755D5E06119109" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue_573A66668C60110A07C55D5E06111FF3" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7F2B2FBD2862D94033B75D5E060ED389" xlink:to="loc_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue_3FD178ADBE23DFAEA0125D5E06114FFC" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_6E97BBE799674D3CD7B75D5DFD6F9C81" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_6E97BBE799674D3CD7B75D5DFD6F9C81" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:to="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_12895140D5570BA8C9B15D5DFD70BE05" xlink:to="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_9A8D98852FB1C7736EB75D5DFD7352E1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:to="loc_srt_MinimumMember_9A8D98852FB1C7736EB75D5DFD7352E1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_4167199A40AD3C13D73A5D5DFD73D641" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_6FE9F4FF3E8DF5179A125D5DFD70AD9A" xlink:to="loc_srt_MaximumMember_4167199A40AD3C13D73A5D5DFD73D641" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_F1E9EA6AE5DEC05F52315D5DFD6FA9EB" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_54BBBC3025B3735D2FB25D5DFD763ECE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_CC7B1ED78ED7D65F667E5D5DFD76E8CF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_84A012D95989264D58CD5D5DFD76F210" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_0F1A19F55B989ED5679B5D5DFD770008" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_B796319D45CF6F6599805D5DFD750E79" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_DECBA5FD136AE5C1616E5D5DFD77D5D3" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockCompensationPlanTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_EA4E075838ECC174D9345D5E01BDD411" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_EA4E075838ECC174D9345D5E01BDD411" xlink:to="loc_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_EC55D2612BB08643D87B5D5E01BE968F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_EA4E075838ECC174D9345D5E01BDD411" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_9572AE4DD496DF31CD8B5D5E01BE495C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_EA4E075838ECC174D9345D5E01BDD411" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_CE024ADFDE7C0D35500E5D5E01BFD6A0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_EA4E075838ECC174D9345D5E01BDD411" xlink:to="loc_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_288EA278D26A9A45A9555D5E01BF6EB8" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlan" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquityAbstract" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:label="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_760984D4C6857F66696D5D5E0304C5CA" xlink:to="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock_69BA1CE18BE1565E1F965D5E0304B8F9" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/StockRepurchasePlanDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquityAbstract" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesTable" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateAxis" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesDateDomain" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesDateAxis_5D53EF438A24217DC5648396D717E1F1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesDateDomain_5136127FCFFC1945D6F18396D717835E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AcceleratedShareRepurchasesLineItems" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesTable_80C0A8CCE2299A5F08A48396D717FEBF" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesLineItems_FEF67B992F82C1ADCA388396D718893A" xlink:to="loc_us-gaap_TreasuryStockSharesAcquired_6B5C6BB6697B74C830688396D71895DB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_9D4905100AE38917D0D08396D71868E0" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_CA90BE6765546C450FC88396D718EAAC" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased_151BC83EBBEDF7409F8E8396D719673C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_TreasuryStockShares_53F153E3CFD521CA37AB8396D719DB7F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_TreasuryStockValue_0EA1419E1A4A5B48A3B78396D719B4F4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased" xlink:label="loc_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquityAbstract_483FA7239CDAC7D1A9E38396D71766DC" xlink:to="loc_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased_BF13E10700B484B71EFC8396D71933C9" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_D9E1820185D294F893F95D5E073E7CAC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_D9E1820185D294F893F95D5E073E7CAC" xlink:to="loc_us-gaap_SignificantAccountingPoliciesTextBlock_FF9CAED57D5E2DC60CE25D5E073EF141" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_852AB54B9F33F128AF865D5E06CD3164" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_852AB54B9F33F128AF865D5E06CD3164" xlink:to="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:to="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementLocationAxis_BF4B1E5F66832914BB3F5D5E06CE465D" xlink:to="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainOperatingExpenseMember" xlink:label="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_MountainOperatingExpenseMember_832695867E58FDF149C35D5E06CF8AA8" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingOperatingExpenseMember" xlink:label="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_LodgingOperatingExpenseMember_5D680C7EFF5A0638E4C25D5E06CFE852" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_RealEstateOperatingExpenseMember" xlink:label="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementLocationDomain_165CB67AC901936452605D5E06CE2ABE" xlink:to="loc_mtn_RealEstateOperatingExpenseMember_36973CB027F67744092B5D5E06CFF512" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_4DA49FE01F0158B64DB25D5E06CD838F" xlink:to="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_F11F14E1F5515726DA405D5E06D03F88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense_902B589F75555F28E0BC5D5E06D09AC7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_C63C5AC4DBDF6F7C273A5D5E06D054C3" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax_9A967CA6B1EB708CCE5A5D5E06D15F91" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_2C4CA7DAD4545952D1CC98FD9D2BEC0A" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfChangeInAccountingEstimateTable" xlink:label="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_2C4CA7DAD4545952D1CC98FD9D2BEC0A" xlink:to="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_BB0390779C5328CDADD298FD9D2B01D5" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillMember" xlink:label="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:to="loc_us-gaap_GoodwillMember_CBA64A946E6539777E0198FD9D2C6323" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_8CA5FF63E9C508F1385D98FD9D2C4BCC" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMember_061130A7C1BEB08D849498FD9D2C5DF1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_StatementScenarioAxis" xlink:label="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioUnspecifiedDomain" xlink:label="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_StatementScenarioAxis_BC9309F732761F84275B98FD9D2DF7F4" xlink:to="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_ScenarioForecastMember" xlink:label="loc_srt_ScenarioForecastMember_6833C9E0A27F9826A64B98FD9D2DD339" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_ScenarioUnspecifiedDomain_6FA132C6034DF3DDA5A398FD9D2D94C9" xlink:to="loc_srt_ScenarioForecastMember_6833C9E0A27F9826A64B98FD9D2DD339" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_00B8BE757FE8E1720B1C98FD9D2D77EB" xlink:to="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_6BAF6EBFE37B429C966898FD9D2ECE18" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:to="loc_srt_MinimumMember_6BAF6EBFE37B429C966898FD9D2ECE18" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_5B71E42CDB677270EBEE98FD9D2E806F" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_364AA5A0C19A9F26B9E798FD9D2D51F9" xlink:to="loc_srt_MaximumMember_5B71E42CDB677270EBEE98FD9D2E806F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_DBF28039BE21102B7E9698FD9D2E81EB" xlink:to="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_E8B3D0CE887BA228E43898FD9D2F77A2" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_12811B8B2EBDD5C0FBC998FD9D2E6249" xlink:to="loc_us-gaap_RetainedEarningsMember_E8B3D0CE887BA228E43898FD9D2F77A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_2F3434F44D1F247B5E3098FD9D2F0992" xlink:to="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_A6.25NotesMember" xlink:label="loc_mtn_A6.25NotesMember_86D8DF6D083C4130CFC098FD9D2FDC10" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_A6.25NotesMember_86D8DF6D083C4130CFC098FD9D2FDC10" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EPRSecuredNotesMember" xlink:label="loc_mtn_EPRSecuredNotesMember_C3D18D02B186E476C40B98FD9D305891" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_EPRSecuredNotesMember_C3D18D02B186E476C40B98FD9D305891" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_EB5DevelopmentNotesMember" xlink:label="loc_mtn_EB5DevelopmentNotesMember_1C554624EADD702D8E8A98FD9D304567" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_FA5212217C207B1362A098FD9D2F706D" xlink:to="loc_mtn_EB5DevelopmentNotesMember_1C554624EADD702D8E8A98FD9D304567" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfChangeInAccountingEstimateTable_A17F7DD5985FFE642A8498FD9D2B1BFD" xlink:to="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_InterestRateSwapNotionalAmount" xlink:label="loc_mtn_InterestRateSwapNotionalAmount_D72E38E9C5E8069F3B6B98FD9D303329" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_InterestRateSwapNotionalAmount_D72E38E9C5E8069F3B6B98FD9D303329" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NotesAndLoansPayable" xlink:label="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_NotesAndLoansPayable_6A41619131466685A54F98FD9D30433A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_DebtInstrumentFairValue_6C334CA8E23A51BE3AF998FD9D302077" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_DB26CDC2115F84FAE3E898FD9D31B7AE" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_AssetImpairmentCharges_DB26CDC2115F84FAE3E898FD9D31B7AE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_C2B6545C282E12C1EA9698FD9D318A6B" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_AccountsPayableAccruedLiabilities_C2B6545C282E12C1EA9698FD9D318A6B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_635649D8CFFEDF0C098698FD9D311258" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_635649D8CFFEDF0C098698FD9D311258" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_GoodwillAndIntangibleAssetImpairment_4058D72E7A898EBCD82398FD9D319A11" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_AdvertisingExpense_63841D0CB2C9C1FC34C198FD9D31198C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_9DDEB17CA7E34FB8F10A98FD9D31E8AC" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_9DDEB17CA7E34FB8F10A98FD9D31E8AC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseRightOfUseAsset" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_84CC5752E0785E03196098FD9D323247" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_84CC5752E0785E03196098FD9D323247" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_303AF0BC9A4050C9599298FD9D324942" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue" xlink:label="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_E37EB2A5CDD5616301E598FD9D326E70" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue_E37EB2A5CDD5616301E598FD9D326E70" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiability" xlink:label="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiability_D9BC3CADEB4E8F570B3098FD9D325F83" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_D2A6A124D75AD100B87C98FD9D320FE7" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_D2A6A124D75AD100B87C98FD9D320FE7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_1886160761B2FBB53F9398FD9D339CBE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_Rightofuseassetadjustments" xlink:label="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_2855D5E9D94380F8F9B198FD9D30312D" xlink:to="loc_mtn_Rightofuseassetadjustments_174FDF42F83051FC9B6998FD9D33ED10" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_ConsolidationPolicyTextBlock_D90CE6005910AD489C418396D8C47165" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock_0BBD91EBE100C98AE15D8396D8C421A2" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_F76A42827F9D65AE18F183CCAEA33812" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:label="loc_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_TradeAndOtherAccountsReceivablePolicy_5ABF7D4AD5170B13D27C8396D8C5DF6F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="loc_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_InventoryPolicyTextBlock_F4712796665385708C0D8396D8C51371" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_61BAF26165194AED65CF8396D8C57188" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:label="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_2F6F0C9617F27F7A638D8396D8C5DA65" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredChargesPolicyTextBlock" xlink:label="loc_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_DeferredChargesPolicyTextBlock_D0D2098829E8745D9ABC8396D8C5A77B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_6FF597DC4824F8C71F3E8396D8C55E7A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_5712AB08BDF498C56EB88396D8C69CFC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_RevenueRecognitionPolicyTextBlock_0B0C9897CEDA427EC6228396D8C6D50F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="loc_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_RealEstatePolicyTextBlock_71AC94E55F37D1418A438396D8C62D3F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_D23FFFF9FB806DA1456B8396D8C677A6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilityReserveEstimatePolicy" xlink:label="loc_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_LiabilityReserveEstimatePolicy_490C328C52F402FA0BDC8396D8C61D6C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdvertisingCostsPolicyTextBlock" xlink:label="loc_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_AdvertisingCostsPolicyTextBlock_2B74238F6ED8A1FD54D38396D8C6470C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_IncomeTaxPolicyTextBlock_9F730AEA8F399DB7556C8396D8C627F5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy_0A83183A805567B744D58396D8C768BF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_6DEC3361214DCE2D66BF8396D8C70790" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ConcentrationOfCreditRiskPolicyTextBlock" xlink:label="loc_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_mtn_ConcentrationOfCreditRiskPolicyTextBlock_F26EC083920C9B9009F98396D8C798BC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_199CAE6F30271D9E0A3983CEE3BB5C1F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LesseeLeasesPolicyTextBlock" xlink:label="loc_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_LesseeLeasesPolicyTextBlock_69EE645B36AB5941ED2183CF6AB3447B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_UseOfEstimates_42516B22279D4213CEC283CFD2521134" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_05C3D963C55900E1C50083D274E4E69C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted" xlink:label="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EE2C58DA3D372B3824798396D8C4C7FE" xlink:to="loc_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted_E0BADFC9967CC70BA5338396D8C7C2B6" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_098961697DD95E41F3885D5E04367B70" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_098961697DD95E41F3885D5E04367B70" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_23169FAEAD84C8124FDB5D5E0436DD03" xlink:to="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MinimumMember" xlink:label="loc_srt_MinimumMember_F71BD4FE4482B67ECDA55D5E0437EF48" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:to="loc_srt_MinimumMember_F71BD4FE4482B67ECDA55D5E0437EF48" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_MaximumMember" xlink:label="loc_srt_MaximumMember_9E921FCE22DB96558F255D5E0437F3D7" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeMember_38D4C611C2A67DC2B2C65D5E0437B500" xlink:to="loc_srt_MaximumMember_9E921FCE22DB96558F255D5E0437F3D7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_12D3AE11F2B213D9E9605D5E04373CA9" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LandImprovementsMember" xlink:label="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_LandImprovementsMember_24793EE6D4AC369AA0A75D5E04373D51" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_BuildingAndBuildingImprovementsMember_9241C078CC00BC53F42E5D5E043E5B81" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_MachineryAndEquipmentMember_F615960DD620241697FD5D5E043F7AD1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_FurnitureAndFixturesMember_01FDDE436C12BBD145E25D5E0440F265" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SoftwareAndSoftwareDevelopmentCostsMember" xlink:label="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember_AECE7D596AFBB961A5585D5E04405C88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_VehiclesMember" xlink:label="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_7B0041C710AD5EA786415D5E0437C83C" xlink:to="loc_us-gaap_VehiclesMember_E43F658A4235E98ED9655D5E0441260B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_7108479341F64B7F185A5D5E04367178" xlink:to="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_52ED3CACED25337B67245D5E044110E9" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_A04452499DF4A99F07B75D5E04423C4A" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock" xlink:label="loc_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:to="loc_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock_427B2874F38F59EE36B85D5E025C13F6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_6BDFD45543B1670022B25D5E025CB51A" xlink:to="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_34040C2640A8A7DC6AF55D5E025D43FC" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_24DF8318AC375F2D2C225D5E06C21968" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SupplementalBalanceSheetDisclosuresTextBlock" xlink:label="loc_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_24DF8318AC375F2D2C225D5E06C21968" xlink:to="loc_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock_4D0046FE66A8F96E7A7F5D5E06C32202" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_40C37CC7E82A8EF693388396D7D8A4C8" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfGoodwillTable" xlink:label="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_40C37CC7E82A8EF693388396D7D8A4C8" xlink:to="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:to="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_B25E4B076A5020D3C8708396D7D99F4A" xlink:to="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_MountainMember" xlink:label="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:to="loc_mtn_MountainMember_D7AE8DEB796E67D995A68396D7D96906" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LodgingMember" xlink:label="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SegmentDomain_5EEA018D68DC4706D3938396D7D91088" xlink:to="loc_mtn_LodgingMember_DE21B770BE385A4AFE8E8396D7D9E9A6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfGoodwillTable_90C3055397AC7971863F8396D7D806B6" xlink:to="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_Goodwill_9FE534D501A78B5506708396D7DA6374" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillAcquiredDuringPeriod_BE8B6910CA3A649845698396D7DAD744" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillImpairmentLoss_CDEB65CE4CC32D2C1FB98396D7DACECC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillForeignCurrencyTranslationGainLoss" xlink:label="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_GoodwillForeignCurrencyTranslationGainLoss_11A7AEBB0FB2DF5967CB8396D7DAF285" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_8B6C32C36C9E1DAC33548396D7DA7168" xlink:to="loc_us-gaap_Goodwill_722A6D6DCFF6113D0A608396D7DBBC69" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:to="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_FF2C9347CC3031D20F9683C4FE92C674" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_B88C3F74682A1BFAAB4D83C4FE96DB04" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_8B8E0EE2D796BA0E9D5483C4D38ED895" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_F8C8CC7D6795C2912AFD83C4D38DE556" xlink:to="loc_us-gaap_StatementLineItems_8B8E0EE2D796BA0E9D5483C4D38ED895" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableTradeCurrent" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_AccountsPayableTradeCurrent_03F1C4F4F02637E21DA88396D7D35960" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_us-gaap_DeferredRevenueCurrent_531AF35BCD523F89F6658396D7D3F5C5" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_DeferredRevenueCurrent_531AF35BCD523F89F6658396D7D3F5C5" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="loc_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_AccruedSalariesCurrent_C4969F04B86552C4AA058396D7D30694" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccruedEmployeeBenefitsCurrent" xlink:label="loc_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_AccruedEmployeeBenefitsCurrent_97C35F69ADFA53B6F5E88396D7D39473" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_Deposits_3BA252155BA0C836D9AB8396D7D310C7" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeaseLiabilityCurrent" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_D1DDE1DD47541198C1908396D7D4A10F" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_D1DDE1DD47541198C1908396D7D4A10F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_us-gaap_OtherAccruedLiabilitiesCurrent_0A7A498381104B05F2558396D7D4A367" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccountsPayableAccruedLiabilities" xlink:label="loc_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_2A8D9E2EBDCD111F97998396D7D26B50" xlink:to="loc_mtn_AccountsPayableAccruedLiabilities_12C609572C294530E18A8396D7D47101" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:type="locator" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PrivateClubDeferredInitiationFeesAndDeposits" xlink:label="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:to="loc_mtn_PrivateClubDeferredInitiationFeesAndDeposits_99EEAF7A9CEE1AE767695D5E04BB1109" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_UnfavorableLeaseObligationNet" xlink:label="loc_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:to="loc_mtn_UnfavorableLeaseObligationNet_3138882BCF75E49374555D5E04BB7FAD" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:to="loc_us-gaap_OtherLiabilitiesNoncurrent_737F5CC2E5556F6D09225D5E04BB0C7D" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_OtherLongTermLiabilitiesNoncurrent" xlink:label="loc_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_ACEF25203D2DB067FB6B5D5E04BA5191" xlink:to="loc_mtn_OtherLongTermLiabilitiesNoncurrent_886CE58A1D001D6560595D5E04C2C123" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C793775F264FD2BDB4B498FD9C30E4CC" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C793775F264FD2BDB4B498FD9C30E4CC" xlink:to="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_699FB86ED9089E154D3C98FD9C30466A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_4147F55E191AC80D9A8498FD9C30BD7D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_5BC19B478DC2703A4B6E98FD9C314EFC" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillMember" xlink:label="loc_us-gaap_GoodwillMember_9A266EBEA37BE6D79FD598FD9C31C6EE" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:to="loc_us-gaap_GoodwillMember_9A266EBEA37BE6D79FD598FD9C31C6EE" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMember" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMember_1DEE3F591C4611CDCA0098FD9C32E2E6" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_B32FD6ADFDE11D77075998FD9C3107F8" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMember_1DEE3F591C4611CDCA0098FD9C32E2E6" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_520C6C6529895754660298FD9C3095BB" xlink:to="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_8A7307CB8543F64CF83098FD9C32EBD3" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_AssetImpairmentCharges_8A7307CB8543F64CF83098FD9C32EBD3" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillGross" xlink:label="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_GoodwillGross_75955584AA5116B648C098FD9C3260A1" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss_7A1D1E5EFDA61B15D58998FD9C32A8BE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GoodwillAccumulatedAmortization" xlink:label="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_GoodwillAccumulatedAmortization_584F031E3F84F0EB20F598FD9C3324C4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_Goodwill_3D217CB6F42D85EB7E3898FD9C33F584" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedTrademarks" xlink:label="loc_us-gaap_IndefiniteLivedTrademarks_ABB57ABCA759CF8982A798FD9C33FCDA" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IndefiniteLivedTrademarks_ABB57ABCA759CF8982A798FD9C33FCDA" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherIndefiniteLivedIntangibleAssets" xlink:label="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_OtherIndefiniteLivedIntangibleAssets_F9AD0BFFD011FA4F498F98FD9C3382EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_DFB6A7DB9268796DD8FB98FD9C33BFBF" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization_CB1E52BDDCAED97D686498FD9C330A36" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet" xlink:label="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet_5633CCB21726FD9CDE1698FD9C341B58" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedTradeNamesGross" xlink:label="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedTradeNamesGross_96427138FEE05A777E9C98FD9C34B497" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherFiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="locator" />
    <link:presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_OtherFiniteLivedIntangibleAssetsGross_79766C7999EB6D8B6A1F98FD9C34DE07" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="locator" />
    <link:presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0D08C5BA62E52E492B4A98FD9C34D7A4" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="locator" />
    <link:presentationArc order="14" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_7E3B9D4F40003156F89F98FD9C3442F8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="locator" />
    <link:presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3BE80D0671634425F61E98FD9C35974B" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_GrossIntangibleAssetsExcludingGoodwill" xlink:label="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="locator" />
    <link:presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_GrossIntangibleAssetsExcludingGoodwill_37A16654AFDFE50E450098FD9C353884" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_AccumulatedAmortizationExcludingGoodwill" xlink:label="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="locator" />
    <link:presentationArc order="17" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_mtn_AccumulatedAmortizationExcludingGoodwill_AA6C0C636216D53BFC2598FD9C359FE8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="locator" />
    <link:presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_348BD336A34E84BC836B98FD9C354ADF" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_9532BFC26B4C747B942198FD9C359D0E" xlink:type="locator" />
    <link:presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_9532BFC26B4C747B942198FD9C359D0E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="locator" />
    <link:presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_FAE8C0A1B9DD50CDFB0998FD9C356B67" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_57AF077BD16EC0C5C9B298FD9C36834E" xlink:type="locator" />
    <link:presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_57AF077BD16EC0C5C9B298FD9C36834E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_519851391A4EB390B51698FD9C36D93C" xlink:type="locator" />
    <link:presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_519851391A4EB390B51698FD9C36D93C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_A9C08496417AD8BE912598FD9C364A43" xlink:type="locator" />
    <link:presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_A9C08496417AD8BE912598FD9C364A43" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_61372078D70C4B6C9E5A98FD9C36C000" xlink:type="locator" />
    <link:presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_7FB6DF26399D3EB3E45B98FD9C32C519" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_61372078D70C4B6C9E5A98FD9C36C000" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_Depreciation_6AF50AB6CC062AD138995D5E01A3752F" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_LandAndLandImprovementsGross" xlink:label="loc_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_mtn_LandAndLandImprovementsGross_445826203FA9A8A5A4D25D5E01A3AAF8" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BuildingsAndImprovementsGross" xlink:label="loc_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_BuildingsAndImprovementsGross_9796BA077413ACBC838C5D5E01A4F924" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MachineryAndEquipmentGross" xlink:label="loc_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_MachineryAndEquipmentGross_3948B9C018900ECA60AF5D5E01A4A2EB" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="loc_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_FurnitureAndFixturesGross_333F0D833091F421B3195D5E01A45404" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalizedComputerSoftwareGross" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_CapitalizedComputerSoftwareGross_0C3C8F2E842A5ED7FA015D5E01A4FE9A" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_VehiclesGross" xlink:label="loc_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_mtn_VehiclesGross_382CFBDA40312D19357B5D5E01A5576B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ConstructionInProgressGross" xlink:label="loc_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:type="locator" />
    <link:presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_ConstructionInProgressGross_09B39418872DF4736D335D5E01A51491" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:type="locator" />
    <link:presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_DCC6284B51DBDC9A41975D5E01A6250C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:type="locator" />
    <link:presentationArc order="10" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_CAC43B30D6F9EE0C797D5D5E01A63E88" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:type="locator" />
    <link:presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_65A01749270F7E26CD555D5E01A38176" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentNet_E6DF2EE7226EB8C46DC15D5E01A613A6" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails" xlink:type="extended">
    <link:loc xlink:href="mtn-20200731.xsd#mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract" xlink:label="loc_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract_5F59D945F013015B28BB8396D7F0FCC3" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_D0314DE6298C8A7A733C8396D7F19E09" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CanyonsMember" xlink:label="loc_mtn_CanyonsMember_611DBF20DFB69FBAF1D98396D7F1E54E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_9928CB2E603F223044518396D7F1A127" xlink:to="loc_mtn_CanyonsMember_611DBF20DFB69FBAF1D98396D7F1E54E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_DF1812B5587359F1A90A8396D7F2CA44" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_1AA3ED254D0A7B61CF598396D7F20F74" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeAxis" xlink:label="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd#srt_RangeMember" xlink:label="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_srt_RangeAxis_36DA6883EEDAE29BD0E38396D7F28B38" xlink:to="loc_srt_RangeMember_62E6A8B5070B32EE9F1C8396D7F2B78E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_B19F4495D0E56E47EC5E8396D7F01D1F" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLand" xlink:label="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsLand_C257E8882AAE7C3AD96A8396D7F3F146" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsLandImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsLandImprovements_6A26F3C0EDAE4A5618B68396D7F384DE" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements" xlink:label="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements_3CA40665CB2AF4C81CFD8396D7F3258E" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsMachineryandEquipment" xlink:label="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsMachineryandEquipment_7C243119F049565B60FD8396D7F30B8B" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CapitalLeasedAssetsGross" xlink:label="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_us-gaap_CapitalLeasedAssetsGross_E715DFC0B6C3B5E40E758396D7F48F97" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsAccumulatedDepreciation" xlink:label="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsAccumulatedDepreciation_DFE56F8F46929FC974058396D7F449BA" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_CapitalLeasedAssetsNet" xlink:label="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_4A95446C1D30FFABCE8D8396D7F3B1CC" xlink:to="loc_mtn_CapitalLeasedAssetsNet_99E8E95E28FAF7D981678396D7F40CC1" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="loc_us-gaap_AssetImpairmentCharges_65D0E4554E9FFA74265698FD9C4F893D" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_AssetImpairmentCharges_65D0E4554E9FFA74265698FD9C4F893D" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_34D0F5AA1F96667A618D98FD9C50D11F" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_7B0B04A91A090CCDC3FF98FD9C50AF4C" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_DD07DF33A9B53BF68BBC98FD9C50AA8E" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_C8C6C63965E5148C26FA98FD9C512038" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Depreciation" xlink:label="loc_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:type="locator" />
    <link:presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_Depreciation_BA658F5891E2E8D015E998FD9C516F50" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:type="locator" />
    <link:presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_C03F2CAAEBD34127AE0A98FD9C4F34DD" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_64DC04A57E1ADDE1930798FD9C51D5F1" xlink:type="arc" />
  </link:presentationLink>
  <link:presentationLink xlink:role="http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables" xlink:type="extended">
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BalanceSheetRelatedDisclosuresAbstract" xlink:label="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:type="locator" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:type="locator" />
    <link:presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentTextBlock_E13B4879697E3AC0FB5E5D5DFFA75D5A" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:type="locator" />
    <link:presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:to="loc_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_05AB3DAEAF18218254965D5DFFA88079" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfGoodwillTextBlock" xlink:label="loc_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:type="locator" />
    <link:presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:to="loc_us-gaap_ScheduleOfGoodwillTextBlock_B1A47AB188FE876932045D5DFFA8A267" xlink:type="arc" />
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:type="locator" />
    <link:presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:to="loc_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_4A8CE004781E2A3A0CD75D5DFFA81507" xlink:type="arc" />
    <link:loc xlink:href="mtn-20200731.xsd#mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock" xlink:label="loc_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:type="locator" />
    <link:presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetRelatedDisclosuresAbstract_DC516E420587F2B7CE505D5DFFA76B48" xlink:to="loc_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock_859503E7C8C6029C55AA5D5DFFA98636" xlink:type="arc" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>stockgraph2020a01.jpg
<TEXT>
begin 644 stockgraph2020a01.jpg
M_]C_X  02D9)1@ ! 0$ D "0  #_X1#Z17AI9@  34T *@    @ ! $[  (
M   0   (2H=I  0    !   (6IR=  $    @   0TNH<  <   @,    /@
M   <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                                                 %1H;VUA<R!+
M:6QI;G-K:0  !9 #  (    4   0J) $  (    4   0O)*1  (    #,C8
M )*2  (    #,C8  .H<  <   @,   (G      <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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M*BHJ*BHJ*BHJ*BHJ*BHJ*BHJ*BHJ*BK_P  1" &] LL# 2(  A$! Q$!_\0
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M^S+O_H-W_P#WQ!_\:H T:*SO[,N_^@W?_P#?$'_QJC^S+O\ Z#=__P!\0?\
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M1HK._LR[_P"@W?\ _?$'_P :H_LR[_Z#=_\ ]\0?_&J -&BL[^S+O_H-W_\
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MJC^S+O\ Z#=__P!\0?\ QJ@#1HK._LR[_P"@W?\ _?$'_P :H_LR[_Z#=_\
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MA1_PCVB_] BP_P# 9/\ "M&B@#._X1[1?^@18?\ @,G^%'_"/:+_ - BP_\
M 9/\*T:* ,[_ (1[1?\ H$6'_@,G^%'_  CVB_\ 0(L/_ 9/\*T:* ,[_A'M
M%_Z!%A_X#)_A1_PCVB_] BP_\!D_PK1HH SO^$>T7_H$6'_@,G^%'_"/:+_T
M"+#_ ,!D_P *T:* ,[_A'M%_Z!%A_P" R?X4?\(]HO\ T"+#_P !D_PK1HH
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M'_@,G^%'_"/:+_T"+#_P&3_"M&B@#._X1[1?^@18?^ R?X4?\(]HO_0(L/\
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M[6C10!G>3K7_ #_V'_@"_P#\=H\G6O\ G_L/_ %__CM:-% &=Y.M?\_]A_X
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M O\ _':/)UK_ )_[#_P!?_X[6C10!G>3K7_/_8?^ +__ !VCR=:_Y_[#_P
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M[*A3C!:&=Y.M?\_]A_X O_\ ':/)UK_G_L/_  !?_P".UHT5F:&=Y.M?\_\
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M )!\O_7Y=?\ H^2M&L[0_P#D'R_]?EU_Z/DK1H **** "BBB@ HHHH ****
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MQQ6WG/2LY0E'XD:1G&7PL****DH**** "BBB@ HHHH *SO$/_(LZI_UYR_\
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M^W+3_GE?_P#@OG_^(K1HH SO[<M/^>5__P""^?\ ^(H_MRT_YY7_ /X+Y_\
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MW+3_ )Y7_P#X+Y__ (BM&B@#._MRT_YY7_\ X+Y__B*/[<M/^>5__P""^?\
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M %^77_H^2@#1HHHH **** "BBB@ HHHH SM#_P"0?+_U^77_ */DK1K.T/\
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MZ/DK1K T?1[:2QD+2WH(NKA?EOIEZ3..S]>.O?J:O?V':?\ /6__ /!A/_\
M%T :-%9W]AVG_/6__P#!A/\ _%T?V':?\];_ /\ !A/_ /%T :-%9W]AVG_/
M6_\ _!A/_P#%T?V':?\ /6__ /!A/_\ %T :-%9W]AVG_/6__P#!A/\ _%T?
MV':?\];_ /\ !A/_ /%T :-%9W]AVG_/6_\ _!A/_P#%T?V':?\ /6__ /!A
M/_\ %T :-%9W]AVG_/6__P#!A/\ _%T?V':?\];_ /\ !A/_ /%T :-%9W]A
MVG_/6_\ _!A/_P#%T?V':?\ /6__ /!A/_\ %T :-%9W]AVG_/6__P#!A/\
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M%9W]AVG_ #UO_P#P83__ !=']AVG_/6__P#!A/\ _%UB;&C16=_8=I_SUO\
M_P &$_\ \71_8=I_SUO_ /P83_\ Q= &C16=_8=I_P ];_\ \&$__P 71_8=
MI_SUO_\ P83_ /Q= &C16=_8=I_SUO\ _P &$_\ \71_8=I_SUO_ /P83_\
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MP[3_ )ZW_P#X,)__ (N@#1HK._L.T_YZW_\ X,)__BZ/[#M/^>M__P"#"?\
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M.[=SG/-2Z-X8TK09KB?3X9C<76WSKFZNI;F9PHPJF25F;:.<+G R>.36M10
M4444 9VA_P#(/E_Z_+K_ -'R5HUG:'_R#Y?^ORZ_]'R5HT %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !6=XA_Y%G5/^O.7_ - -:-9WB'_D6=4_Z\Y?_0#0!HT444 %9VA_\@^7
M_K\NO_1\E:-9VA_\@^7_ *_+K_T?)0!HT444 %%%% !1110 4444 9VA_P#(
M/E_Z_+K_ -'R5HUG:'_R#Y?^ORZ_]'R5HT %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M\:/^$AT7_H+V'_@2G^- &C16=_PD.B_]!>P_\"4_QH_X2'1?^@O8?^!*?XT
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M0!HT5G?\)#HO_07L/_ E/\:/^$AT7_H+V'_@2G^- &C16=_PD.B_]!>P_P#
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M)3_&C_A(=%_Z"]A_X$I_C0!HT5G?\)#HO_07L/\ P)3_ !H_X2'1?^@O8?\
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M?XT :-%9W_"0Z+_T%[#_ ,"4_P :/^$AT7_H+V'_ ($I_C0!HT5G?\)#HO\
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "L[Q#_R+.J?]><O_ * :T:SO$/\ R+.J?]><O_H!H T:
M*** "L[0_P#D'R_]?EU_Z/DK1K.T/_D'R_\ 7Y=?^CY* -&BBB@ HHHH ***
M* "BBB@#.T/_ )!\O_7Y=?\ H^2M&L[0_P#D'R_]?EU_Z/DK1H **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "L[Q#_R+.J?]><O_H!K
M1K.\0_\ (LZI_P!><O\ Z : -&BBB@ K.T/_ )!\O_7Y=?\ H^2M&L[0_P#D
M'R_]?EU_Z/DH T:*** "N.\=?\(%?O:Z9X_N+"W=1]IM)+VX-J5(89,4V5PP
M(7(5LXQD8(KL:IZGI-EK-O%#J4'G1PW$5RB[V7$D;AT/!&<,H.#P<<@T >+!
M]73PG;:M<7M_K/A_P[XLBO;74;P-+/-IX1DDEW 9D16E9@^.54D?*!CLUU"S
M\8?%W1+[P]=PZCIVAZ?=FXO;6020^;.8E6(.N07PA8CL,9ZBO0J* "JES93S
MS;XM3NK9<8\N)8B/_'D)_6K=% &!H^GW+V,A76+V,?:K@85(<$B9QGF,\GK^
M/&!Q5[^S+O\ Z#=__P!\0?\ QJM!5"C"@ 9)P!W/)I: ,[^S+O\ Z#=__P!\
M0?\ QJC^S+O_ *#=_P#]\0?_ !JM&B@#._LR[_Z#=_\ ]\0?_&J/[,N_^@W?
M_P#?$'_QJM&B@#._LR[_ .@W?_\ ?$'_ ,:H_LR[_P"@W?\ _?$'_P :K1HH
M SO[,N_^@W?_ /?$'_QJC^S+O_H-W_\ WQ!_\:K1HH SO[,N_P#H-W__ 'Q!
M_P#&J/[,N_\ H-W_ /WQ!_\ &JT:* ,2\MKZWNK"--:O2+B<QOF.#@")WX_=
M]<H/UJU_9EW_ -!N_P#^^(/_ (U6@5#$%@"5.02.AZ?UI: ,[^S+O_H-W_\
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M&B@#._LR[_Z#=_\ ]\0?_&J/[,N_^@W?_P#?$'_QJM&B@#._LR[_ .@W?_\
M?$'_ ,:H_LR[_P"@W?\ _?$'_P :K1HH SO[,N_^@W?_ /?$'_QJJLEM?)K%
MO:#6KWRY8)9&/EP9!5HP/^6?3YS^E;=)M!8,0-P! ..0/\@4 9_]F7?_ $&[
M_P#[X@_^-4?V9=_]!N__ .^(/_C5:-% &=_9EW_T&[__ +X@_P#C5']F7?\
MT&[_ /[X@_\ C5:-% &=_9EW_P!!N_\ ^^(/_C5']F7?_0;O_P#OB#_XU6C1
M0!G?V9=_]!N__P"^(/\ XU1_9EW_ -!N_P#^^(/_ (U6C10!G?V9=_\ 0;O_
M /OB#_XU1_9EW_T&[_\ [X@_^-5HT4 9W]F7?_0;O_\ OB#_ .-4?V9=_P#0
M;O\ _OB#_P"-5HT4 8FEVU]?:/9W<NM7HDG@21@L<& 64$X_=].:M?V9=_\
M0;O_ /OB#_XU6@JA%"H JJ,  8 %+0!G?V9=_P#0;O\ _OB#_P"-4?V9=_\
M0;O_ /OB#_XU6C10!G?V9=_]!N__ .^(/_C5']F7?_0;O_\ OB#_ .-5HT4
M9W]F7?\ T&[_ /[X@_\ C5']F7?_ $&[_P#[X@_^-5HT4 9W]F7?_0;O_P#O
MB#_XU1_9EW_T&[__ +X@_P#C5:-% &=_9EW_ -!N_P#^^(/_ (U1_9EW_P!!
MN_\ ^^(/_C5:-% &));7R:Q;V@UJ]\N6"61CY<&05:,#_EGT^<_I5K^S+O\
MZ#=__P!\0?\ QJM#:"P8@;@" <<@?Y I: ,[^S+O_H-W_P#WQ!_\:H_LR[_Z
M#=__ -\0?_&JT:* ,[^S+O\ Z#=__P!\0?\ QJC^S+O_ *#=_P#]\0?_ !JM
M&B@#._LR[_Z#=_\ ]\0?_&J/[,N_^@W?_P#?$'_QJM&B@#._LR[_ .@W?_\
M?$'_ ,:H_LR[_P"@W?\ _?$'_P :K1HH SO[,N_^@W?_ /?$'_QJC^S+O_H-
MW_\ WQ!_\:K1HH SO[,N_P#H-W__ 'Q!_P#&JET>XDN]#L;F<[I9K:.1R!C)
M*@FKE(JA%"H JJ,  8 % "UG>(?^19U3_KSE_P#0#6C6=XA_Y%G5/^O.7_T
MT :-%%% !6=H?_(/E_Z_+K_T?)6C6=H?_(/E_P"ORZ_]'R4 :-%%% !1110
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MV>H2Q _\\WEF9/PVE: .WM_$/V_PG8Z]I6EWM_'?6T5S#:Q&))MDBAAG?(J
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M?'5O8:AJ-G8:/JNM2:5$)+\Z='$1;Y7>%/F2(7<KSM0,>1QR,XFJ3_\ "?\
MCRQTK3/GT?POJ"W>I7@&5>\C&8[9#W92VY\=/E'!-3_#>58K_P ="Y/ERQ^)
M+AY#)QA#%$4;Z;1Q0!J:U\1?#NB^&;/7'N9;RWU"%IK&*R@:6:Z41F0[4 R
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M% &7HWAO2] :Y?3;=Q/=%3<7,\\D\\VT87?+(S.P4< $X&3C%:E%% !1110
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBH;F]M;+ROMES#;^?*L,7FR!?,D/1%SU8XX YH FHJ.XN(;2VEN+J5(8(4
M+R2R,%5% R6)/  '.:J:3KVD:] \VA:K9:E%&VQY+.X295;&<$J3@XH OT44
M4 %%07M]::;:/=:C=0VENA >:>0(BY( RQX&20/J:GH **** "BBB@ HHHH
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M23\V>*?IGA*.RUX:UJ.K:AK.H1VYMH)KXQ 6\;,&<(D4:+EBJY8@G"@9 R"
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MD9RI^=64C/8BJ=YX,74],BMM5UW5;VYMKI;NTOV\B.>UD48!3RXE0C!8$,K
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MZETS6]6T^SO+EKJXTZWEC$+R,<N0Q0R)N/)".HR21C)KIZ "BBB@ K.\0_\
M(LZI_P!><O\ Z :T:SO$/_(LZI_UYR_^@&@#1HHHH *SM#_Y!\O_ %^77_H^
M2M&L[0_^0?+_ -?EU_Z/DH T:*** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M /?$'_QJC^S+O_H-W_\ WQ!_\:K1HH SO[,N_P#H-W__ 'Q!_P#&J/[,N_\
MH-W_ /WQ!_\ &JT:* ,[^S+O_H-W_P#WQ!_\:H_LR[_Z#=__ -\0?_&JT:*
M,[^S+O\ Z#=__P!\0?\ QJC^S+O_ *#=_P#]\0?_ !JM&B@#._LR[_Z#=_\
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M_&J/[,N_^@W?_P#?$'_QJM&B@#._LR[_ .@W?_\ ?$'_ ,:H_LR[_P"@W?\
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!V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>vaila08.jpg
<TEXT>
begin 644 vaila08.jpg
M_]C_X  02D9)1@ ! 0$!+ $L  #_[@ .061O8F4 9       _^$ 2D5X:68
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M# P,#/_  !0( .L%&P0!$0 "$0 #$0 $$0#_Q  ?    !P$! 0$!
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M6N?]YS-FS9O^BU?_ #E/_P!2#^57_<*US_O.9LV;/IA_S[K_ .<P_P#G(?\
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MW_10#\Y/^I:\F?\ 2'J/_>1S9LV;_HH!^<G_ %+7DS_I#U'_ +R.;-FS?]%
M/SD_ZEKR9_TAZC_WD<V;-F_Z* ?G)_U+7DS_ *0]1_[R.;-FS?\ 10#\Y/\
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M,EI8W%U&K<6DBB=U#  TJH.^^;-FQ?\ 0FL_]6B]_P"D>3_FG-FS9OT)K/\
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M-FS9L&6^G:A=H9+2QN+J-6XM)%$[J& !I50=]\V;-B_Z$UG_ *M%[_TCR?\
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M3N1#<QR(">H /?-FS9VC-FS9LV;-FS9LV;-FS9LV;-GSA_Y^P?\ K$GYC_\
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M^?L'_K$GYC_]M7R[_P!U>VS9LV?DAS9LV;-FS9^I[_GS;_ZR/J7_ )L#6?\
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MZ5HNIM<^4[B7?U]&O@+FP?GT8B&14<C]M6'4$9LV;/.F;-FSNW_.,WYS7_\
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M\L_G98F]N&C "1ZYIJQV]^M -O5C:":IW9WD/8YLV;/DOFS9L[!^0/YNZO\
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M6Y4GV7VS9LV?5'-FS9&?.O\ RAOFW_MC7_\ U#OFS9L_.#FS9LV;-FSZ&?\
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M;-FSS-_SF)_ZSE^8O_;H_P"ZO99LV;/AIFS9LV;-FSZ__P#/O_\ \DWYE_\
M SO/^Z=IV;-FSW+FS9LV;-FS9LV;-FS9LV;-FS9LV;"S6M'T_P PZ/JN@ZM;
MK=:7K5I-8ZC;-N)(;A#'(N_BK'-FS9^?;\V/RUUK\IO/.M>3=:1F^I2F32M0
M*T2\LG)]"X3M\2BC ?98,O;-FS9S?-FS9LV;-FS9LV"K.]O=/G6ZL+N:QN4^
MQ<6\C1..^S(01TS9LV=5T'\__P ZO+? :5^9NOK''7TX+N[>]B6O6D=UZJ#[
MLV;-G:]!_P"<Z?SQTGTUU-]#\SH*"1K^P]%V ZD&R>W4$_ZM/;-FS9VK0/\
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M9Z9LV;/L/FS9LV;-FS9LV;-FS9LV;-FS9LV;-FS9LV;-FS9LV;-FS9L^#?\
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MZ3Y_^R7-FS9O^A#OSN_Y:_+/_2?/_P!DN;-FS?\ 0AWYW?\ +7Y9_P"D^?\
M[)<V;-D)_,+_ )Q(_-O\MO*NH^<=:CTF_P!(TG@VHKIEU)/-%&[!/5*/#'5%
M)'(@[=:4!(V;-GF+-FS9LV;-DU_+O2/*FO\ G+0M$\ZZU<>7/+VJW M;O7+=
M4<VSR K%(XD^'AS(#G]E:MVS9LV?7?R9_P X5?DAY5F@O;[3[_SI=1'G&=;N
M ]OR\?J]ND,;CVD##-FS9ZOLK*STVTM[#3K2&PL;1!':V=O&L442+T5$0!5
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MS9LV;-FS9LV;-FS9L\S?\YB?^LY?F+_VZ/\ NKV6;-FSX:9LV;-FS9L^O_\
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MCZE_YL#6?^H33\V;-GU>S9LV;-FS9^0+_GZ/_P"MV?GG_P""S_XC&DYLV;/
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M\G9?S>_,FPMKZT,WD_RVR:CYLE8'TWB5JQ6I/C<..)%0> <C[.;-FS[K
M"@&P S9LV7FS9LC/G7_E#?-O_;&O_P#J'?-FS9^<'-FS9LV;-GT,_P"?>G_*
M9?F'_P!L:U_ZB#FS9L^K&;-FS9LV;-FS9LV;-FS9LV;/EK_SG)^1_P"C;^/\
MX_+=I2PU.2.U\[6T2FD5T?AAO338++M&YV^/B=RYS9LV?.7-FS9LV;-GLO\
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MH6.*&)0D<:*-@JJ  ,V;-@K-FS9LV;-FS9LV;-FS9LV;-FS9LV;-FS9\3_\
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M-FS[[9LV;-FS9L^.'_.77_./%Q^6_F&Y\_>5;(MY"\R7)>Z@B4D:7?3$EHF
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M9LV;-FS9LV;-D9\Z_P#*&^;?^V-?_P#4.^;-FS\X.;-FS9LV;/H9_P ^]/\
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M/U;4+:YDY.00/@B:GOFS9L^8G_0COY\_\L&B_P#<23_FG-FS9O\ H1W\^?\
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M 'D,V;-F_P"BR7_.(_\ U;?S _[@UI_WD,V;-F_Z+)?\XC_]6W\P/^X-:?\
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M *+)?\XC_P#5M_,#_N#6G_>0S9LV;_HLE_SB/_U;?S _[@UI_P!Y#-FS9O\
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M -6W\P/^X-:?]Y#-FS9O^BR7_.(__5M_,#_N#6G_ 'D,V;-F_P"BR7_.(_\
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M 'D,V;-F_P"BR7_.(_\ U;?S _[@UI_WD,V;-F_Z+)?\XC_]6W\P/^X-:?\
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M *+)?\XC_P#5M_,#_N#6G_>0S9LV;_HLE_SB/_U;?S _[@UI_P!Y#-FS9O\
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M -6W\P/^X-:?]Y#-FS9O^BR7_.(__5M_,#_N#6G_ 'D,V;-F_P"BR7_.(_\
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M^1,W_57-FS9O^A _^<-O_8>_*G_(F;_JKFS9LW_0@?\ SAM_[#WY4_Y$S?\
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M^1,W_57-FS9O^A _^<-O_8>_*G_(F;_JKFS9LW_0@?\ SAM_[#WY4_Y$S?\
M57-FS9O^A _^<-O_ &'ORI_R)F_ZJYLV;-_T('_SAM_[#WY4_P"1,W_57-FS
M9O\ H0/_ )PV_P#8>_*G_(F;_JKFS9LW_0@?_.&W_L/?E3_D3-_U5S9LV;_H
M0/\ YPV_]A[\J?\ (F;_ *JYLV;-_P!"!_\ .&W_ +#WY4_Y$S?]5<V;-F_Z
M$#_YPV_]A[\J?\B9O^JN;-FS?]"!_P#.&W_L/?E3_D3-_P!5<V;-F_Z$#_YP
MV_\ 8>_*G_(F;_JKFS9LW_0@?_.&W_L/?E3_ )$S?]5<V;-F_P"A _\ G#;_
M -A[\J?\B9O^JN;-FS?]"!_\X;?^P]^5/^1,W_57-FS9O^A _P#G#;_V'ORI
M_P B9O\ JKFS9LW_ $('_P X;?\ L/?E3_D3-_U5S9LV;_H0/_G#;_V'ORI_
MR)F_ZJYLV;-_T('_ ,X;?^P]^5/^1,W_ %5S9LV;_H0/_G#;_P!A[\J?\B9O
M^JN;-FS?]"!_\X;?^P]^5/\ D3-_U5S9LV;_ *$#_P"<-O\ V'ORI_R)F_ZJ
MYLV;-_T('_SAM_[#WY4_Y$S?]5<V;-F_Z$#_ .<-O_8>_*G_ ")F_P"JN;-F
MS?\ 0@?_ #AM_P"P]^5/^1,W_57-FS9O^A _^<-O_8>_*G_(F;_JKFS9LW_0
M@?\ SAM_[#WY4_Y$S?\ 57-FS9O^A _^<-O_ &'ORI_R)F_ZJYLV;-_T('_S
MAM_[#WY4_P"1,W_57-FS9O\ H0/_ )PV_P#8>_*G_(F;_JKFS9LW_0@?_.&W
M_L/?E3_D3-_U5S9LV;_H0/\ YPV_]A[\J?\ (F;_ *JYLV;-_P!"!_\ .&W_
M +#WY4_Y$S?]5<V;-F_Z$#_YPV_]A[\J?\B9O^JN;-FS?]"!_P#.&W_L/?E3
M_D3-_P!5<V;-F_Z$#_YPV_\ 8>_*G_(F;_JKFS9LW_0@?_.&W_L/?E3_ )$S
M?]5<V;-F_P"A _\ G#;_ -A[\J?\B9O^JN;-FS?]"!_\X;?^P]^5/^1,W_57
M-FS9O^A _P#G#;_V'ORI_P B9O\ JKFS9LW_ $('_P X;?\ L/?E3_D3-_U5
MS9LV;_H0/_G#;_V'ORI_R)F_ZJYLV;-_T('_ ,X;?^P]^5/^1,W_ %5S9LV;
M_H0/_G#;_P!A[\J?\B9O^JN;-FS?]"!_\X;?^P]^5/\ D3-_U5S9LV;_ *$#
M_P"<-O\ V'ORI_R)F_ZJYLV;-_T('_SAM_[#WY4_Y$S?]5<V;-F_Z$#_ .<-
MO_8>_*G_ ")F_P"JN;-FS?\ 0@?_ #AM_P"P]^5/^1,W_57-FS9O^A _^<-O
M_8>_*G_(F;_JKFS9LW_0@?\ SAM_[#WY4_Y$S?\ 57-FS9O^A _^<-O_ &'O
MRI_R)F_ZJYLV;-_T('_SAM_[#WY4_P"1,W_57-FS9O\ H0/_ )PV_P#8>_*G
M_(F;_JKFS9LW_0@?_.&W_L/?E3_D3-_U5S9LV;_H0/\ YPV_]A[\J?\ (F;_
M *JYLV;-_P!"!_\ .&W_ +#WY4_Y$S?]5<V;-F_Z$#_YPV_]A[\J?\B9O^JN
M;-FS?]"!_P#.&W_L/?E3_D3-_P!5<V;-F_Z$#_YPV_\ 8>_*G_(F;_JKFS9L
MW_0@?_.&W_L/?E3_ )$S?]5<V;-F_P"A _\ G#;_ -A[\J?\B9O^JN;-FS?]
M"!_\X;?^P]^5/^1,W_57-FS9O^A _P#G#;_V'ORI_P B9O\ JKFS9LW_ $('
M_P X;?\ L/?E3_D3-_U5S9LV;_H0/_G#;_V'ORI_R)F_ZJYLV;-_T('_ ,X;
M?^P]^5/^1,W_ %5S9LV;_H0/_G#;_P!A[\J?\B9O^JN;-FS?]"!_\X;?^P]^
M5/\ D3-_U5S9LV;_ *$#_P"<-O\ V'ORI_R)F_ZJYLV;-_T('_SAM_[#WY4_
MY$S?]5<V;-F_Z$#_ .<-O_8>_*G_ ")F_P"JN;-FS?\ 0@?_ #AM_P"P]^5/
M^1,W_57-FS9O^A _^<-O_8>_*G_(F;_JKFS9LW_0@?\ SAM_[#WY4_Y$S?\
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MTABE"L+(I(H92 Z,5/521OFS9LBR?\_'O^<)Y'6./\^=+=W(5$73M7)).P
MLMR<V;-GK?R=YP\O>?\ RSI'G#RG?/J?EW78C/I5^]O/:F6-79.7HW,<4J[J
M:<E%>HV(S9LV>;O-_P#SG9_SBEY UR^\M^=/S:@\LZYIT\UO=:??Z3K$3<X)
M&BD*$V/&10ZD!D)4]B<V;-DC_*S_ )R__P"<<OSL\RQ^4?RL_,N#SCY@DBDF
M^I6FGZFBJD2&1FDFFM(XD^%33DXKT%3FS9L] :YK.G>7-%U?S#J\SV^DZ%97
M&HZI<1Q2SO';VL;2RLL4*O(Y"*2%12QZ $[9LV;/(>I_\_#/^<.-%O9M-UG\
MZK32=1MB!<6%[I.M03QDBHYQR6"L*@UW&;-FP)#_ ,_'/^<)YY8H4_/W1U>9
MU1#)9:I&@+&@Y.]F%4>)) '?-FS9Z&_+;\\_R;_.&.9_RN_,_P M>>Y+:,2W
MEEH^HV]S=01D@!I[97]:($FGQH,V;-G5<V;-G$_S6_YR*_)W\D9X(/S1\VOY
M5^L6GUY+E],U*[MUMS(T7.2XL[6>*/XE(H[ ^U*9LV;.&?\ 12'_ )PE_P#+
M^:5_W#]6_P"R+-FS9O\ HI#_ ,X2_P#E_-*_[A^K?]D6;-FPUT+_ )^#?\X<
M^9M;T;RWH7YX:9J&M^8+ZWTW1[!+#5%:>ZNY5AAB#/9JH+NX%20/$YLV;/96
M;-FSB7YK_P#.1GY-_D?-!#^:7FY_*@N+07J74FF:E=6RP-(T0:2XM+6:)"74
MBC,#[;C-FS9PW_HI#_SA+_Y?S2O^X?JW_9%FS9L-M)_Y^#_\X8ZU,8+/_G(+
MRW"X*J6OQ=Z>E6K3X[RWA7MN:[=^HS9LV>JO+/FOROYUT:U\Q>3?,FE>;?+]
M\";+7=&O(+^SF Z^G<6[O&U/9LV;-A_FS9L)O,.OZ5Y5T+5O,FN7#VNCZ':R
M7NIW,<,URZ0PJ6=EAMTDE<@#[**2>PS9LV>1=0_Y^(_\X::3>W&FZK^=MEIF
MH6;^G=V%WI6LPS1./V7C>Q#*?8C-FS9-?R\_YS+_ .<;/S9UNR\N_ES^9*^;
M=5O[E+2"*QTG5S$)G4LJ2W#V2PQ5"D@R.HS9LV>GLV;-GFK\R/\ G+__ )QU
M_*'6K_0/S)_,/_"6I:9.EM=B\TG5S;B62-9E1+J*R>"0E&!^!S]X.;-FSFO_
M $4A_P"<)?\ R_FE?]P_5O\ LBS9LV;_ **0_P#.$O\ Y?S2O^X?JW_9%FS9
MLG_Y9?\ .:'_ #C%^<GG"P\@_EI^;-AYK\WZI%/-8:+!9ZA"\B6L333,'N+6
M)!Q1"V[9LV;/4&;-FSRKY]_YS;_YQ>_*[S%?^5/S!_-.'RIK^FSRVUS87VE:
MNM9('X2>E(MD8Y5#"G*-F7P.;-FR??DY_P Y'?DC_P Y 1ZY)^3WYAZ=YW/E
MIH%UV"U2>&:V^LAS"SPW,4,G%_38!@O$D$5J,V;-G;,V;-G(/S5_/K\J?R2A
MLKG\S_,\GEBUOX)[F"\_1NHWL"Q6Q02O++96TZ1!>8_O"M>W0YLV;.):1_S\
M'_YP^\P7J:;H/YRVVMZC(K/'86&CZU<SLJ"K$1Q6#,0!N=LV;-GL*QO+?4;*
MSU"S<R6E_!'<6LC(T9:.50Z$HX5E)!&Q ([YLV;!6;-FSRK^<G_.;7_.+_Y#
M:A/H?YC?FSIEGYEMCQN?*VF)/JVHPO\ R7$%A'.;=J;TFX;9LV;.-Z;_ ,_0
M_P#G$FYN+6/6O,/F?R;9WK*EMK.N^6=3@LV9R0H,L,,U 2I%2.([D $C9LV>
MF]2_YR4_)&PTC\N->MOS#T?7](_-GS/I_E#R'?:-=0WZ7VJZD_IQ1*87:G%M
MI"?L$@-0D#-FS9W/-FS9XXUK_GX!_P XB>6[E+/S%^;\6@WDB>I':ZCHNMVL
MC(?V@DVGJ2/>F;-FPG_Z*0_\X2_^7\TK_N'ZM_V19LV;-_T4A_YPE_\ +^:5
M_P!P_5O^R+-FS9W#\FO^<D?R2_YR#_Q'_P J<\_6GGC_  C]3_Q']5M[N#ZK
M]?\ 7^K<OK4$-?4^K24XU^SO3;-FS9V_-FS9LV;-FS9LV;-FS9LV;-GD/\VO
M^<[O^<6/R7UBY\L^;_S4LKWS=:OZ,OE'R_!<:U?K<$T%O*MA'-'#+7;A,Z'I
MXC-FS9RS1_\ GZ/_ ,X?W^J6^DZUYOUWR/+=T^J77F/R_J-K;N2:?WD<4P0
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M'(A*V9!*LI&QIFS9L _]%(?^<)?_ "_FE?\ </U;_LBS9LV;_HI#_P X2_\
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M_C,UY:R1K);+:!F1'>Y+HD0+*&9EJP&^;-FSRE_T4._+;ZC]?_Y51^9/I?\
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M((PI@TVRN+PV]I%3[$:%C11[5Z"FS9L^O^;-FSXD_P#/T3_G.OS/^7&H1_\
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MK_G"G\E]?\T?E7Y/\R:[?_XC^O:UJFAZ?>7<WI>8]4BC]2>>!W;BB*HJ=E
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M/R[UOS]^0?FK\G?SZT2!H1'J<FK^5;P,RPW;:3=FWO[&5P/VT/"517]W*O\
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MS\%U+SM^8OF6S\H^5-.UGSK%?:Y?LRP1/<1WL42L5#&KNP4;=3FS9L_0?/\
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M,?\ [:OEW_NKVV;-FSQ/_P ^I/\ G)W\@?R6_P"<>/.7E;\U/S3T3R1YAO\
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MI<.M^6?-%A<:9KNDW )CN+6Y0QRH:$$54[$$$'<$'-FS9^2G71YX_P"?:/\
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MG_*NO^5U^>/]Y_\ >BW_ /)Q_P#*P_\ &W^\T7_'6_R_Y/\ BOAFS9L]H_\
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M_E27^+OJ/J^H*_5_TW_N/Z?9^I?N_#?-FS9UJV_1'^";+].?\K\_1OH3>O\
MX_\ TM_@.GIP_P!]^A/],]/^;T_V>.;-FS]!_P#S[_\ T3_RH*P_0?\ RI_]
M$?I"7]'_ /*F_P!*_HST_3CI^DOTY_N0^O?[\^L_'QXUS9LV>W\V;-GY?O\
MG/3_  %_BGR7];_Q[]8^I7'J?]##_P"._6^U'3]"?5/W/I4_O>/[?7>N;-FS
MR!Y&_P"5=>KJ/_*)?8C_ .49_P"5A\^K?W_M_+].;-FP\\W_ /*NOT,__'$_
MO8_^4@_Y6']2Z]_\KPS9LV?3S_GSM_AG_&WYV_H#_ 'J?H/2/K/^'O\ $OZ4
MX_6;BE/T[\'H?[\]+?GZ5=J9LV;/O1FS9LV;-FS9LV;-FS9L*];_ ..+J_\
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MGFS9LV;-FS\YG_/QW_!'Z4LOTC_RL3ZW_B*^]7_E<_\ C7_"M:S?\HY^CO\
M1_\ 5X?[JS9LV?.KR1_RKK](7?\ RAG^\_\ TS?_ "L/ZQ]M?[S_ "/XTS9L
MV2SS3_RKK] WW_'*_P!U?\=O_E8?U#^]3^^_XU_RJ9LV;/=__/I#_"7_ $,1
MYO\ T'_RKKZ]_@2]Y_H3_%GZ5]+Z_8<O0_3?^B^GRX^K3]Y]GC\/J9LV;/T6
MYLV;"O6^/Z%U?G]=X?4KCG^C>7UVGIM7ZMP^+U?Y*;\J4S9LV?EX_P"<Z_\
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= *M3^Z]7X^''E\5<V;-G5<V;-FS9LV;-FS9L_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>vrmapfy20.jpg
<TEXT>
begin 644 vrmapfy20.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X0 B17AI9@  34T *@    @  0$2  ,
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MU]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$! 0$! 0
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M&2!DTY96TK\WX?\ !+CF5^GXGZ&;O\YHS_G-?GM8+JG@'Q#=:EI%T)%T:X,
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MUEN!$I55+<@8/0@$9'KFN7E?+S,Z.;WN4Z O@TU]N?ZT_.#BO _V[=/U*]\
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MIU%-70ZBBB@T"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M>0WUFS%5EB;<N1P16FS8KQ=>I['H+1110 4444 %%%% !1110 4444 %%%%
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MHOOM*JHV6C)?>8"3\QQM"D=QO' ''//B.<__ *\T5G3P;@])LJKBE/HC>MO
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M9KR?8SF.,;B%499C[#&<U[G^SW\#IO#GQ075)KQ6TFSMFD$K1H4E#J4*O\Q
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MYXYSD YKYG$4[MU.G0^@P]2R5,]<HI%.12URG8%-?I3J* /#_P!N/]NOP/\
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M,\4:M9-\0+:6U\1F*;:=9BE8NZS?W@S,Q/U:L_X3?%_Q-\!_'EGXH\'ZU?\
MAWQ!IOF"UO[-]D\&]&1MI]U9A]":(Y.WSS<O>DK+RTMKI?[F"Q7PQ2\S] ?^
M"4-IXB\/?\$\/V@O$GP/M5OOVAK74+.SA^RP+<ZO::*[1&0V<1!)9F\[(4$D
MQK@%EC!^6/V\/%_[1'BW6/"+?M!0^-(M0M]-D30_^$BTPV,[6WFDOP8T9VW\
M$OEP-O;%>3_"OXR>+/@?XPAU_P &^)-<\+ZW""HO-+O7M9BI/*ED()4XY!X/
M&<]*L?&/X]^-OVA_%']M>.O%6O>+-65?+6YU6^DNFC7KM3<2$7/.U0![5T8/
M SI8AS;C9^6JTV3[$U*RE!1U_0Y&BBBOH/:T^YQA1115 %%%%3(#]_O^#6+_
M ),#\3_]CK=?^D=G7Z7$]?IU]*_-'_@U@_Y,"\4?]CM=?^D=G7Z539V<>GY_
MY_K7X[G.N.J>O^1]=A=*$?0Q?^$VTF;QF?#[74/]J+ +@P,VUBA)Z _>/!/R
MYP.N 1G#\9? #PS\0-;\)WU]8K_Q1L[3Z;!& D*$IM"LN/NJ5C8 8PT8[9!^
M5KO[?>?$+Q=K5AKD.AS6]S.SO?NT5ZJ,_2,JIQ(>1A"&P&'0FOI_X(>)?%7C
M?3O[2U:.SL='D!&GQB-OM=U'GY))27(7Y<< 98G.0,9XZE%TDI19-*LJCM)&
M7^T-\+YO$NC:M<:/J%O;^)M8TB31K""^E5;5BS%F=5V%C*J&0#'8]NH^#_AY
M^R;<V5_#=>.)HO#MNV6BLKJ0QW5R0I89"J6C!( WL.K#KTK]&O'UX("JP_8U
MUJ&VFET\S^42\FPC:H.9..&.P#(7'M7PIXE@U2'5II-82\6^N&,LC70822$D
MY8[ADY.>?:O2RNI/E:1PYA3AS)C-:UF;6KF-IMBI;QB"&*-=L<$:YPBCT'/)
M)))))))JG117JQVT//YNX4Z.%Y4D959EC +D#[HR!D_B0/QIUG +J]AB:2.)
M9'"%Y/NIDXW'O@9YQ_A73:3X2_XFNO63,T/V>UED$<Q"RO&B&56'."WR)E1R
M59B.A(4I6$E<Y7_/%=9\,O!\WC"P\011XCCAL?.DG8,5@"2([,0H+'Y%?H.N
M/45R;G_)KH/A9XU;X>?$#2]6_P"6=K,#*-FX^4?E? /&[:QQGH<5-2_+[I4;
M)ZG/L%1B%^Z#@45T.N^(-0T_59[?4H;6^OK61H_M-U&9)&4'I\W!!'(+ D#&
M"!BLG5-2AU".-EM8[:9<A_*.$<<;<#G##D9SR ./6H7MJ*5DW8J44451(444
M4 %%%% !1110 4444 %%%% !113K>WDNYTBAC:221@J(JEF=NP '4_UQ0 VM
M#0-2L]+>Z>ZL5OVDMWBA#R%$AD; $A Y8J,X _B(/.,'T#PG^S1<7OA/4-6U
MZ^D\/QV*L1%/;%6?"N0-SE%R2N-H).".F>?+R<G^?&,UG&<9W2Z&G+*.X?>_
MEC/MR*^B?@I\/]/T[X>6_C3Q%?3K=V-NT=K'=S+&D47/EK%N9=K,#\N3CYAP
M>0?G9N/7UXKM?$GQ677?AV/#\=FMK':S6YMVC4*TB1I*',A7"L2S@C"YZY)(
MR<\1"4DN4TH246VSF+\VL?B&8Z6+B2VCF)MEN%!E8 _+N &TD]QC&>N>Z^(_
M$MYXKU(WE_()KHJ$>7RU5I<<!FP!N;U)Y/>OHG]GO]GI?"7AG_A(-4FLXKJ\
MM2ZM<',>GK^YFA=D('S@J206 Q@<Y-?._BI]/?Q'>?V7'<1Z?YI$ F??(5'&
M2<#KUQVSCM4T:T93<5TZA4IRC&[ZF?0.#Z>G'^?\_E6OX*T#_A(-999%D:VL
M[>:\N-H_@BC9R/;=@+_P*LZ8_P!H:B_E0X\Z3Y(DRV 3PHQU(X _+K73IU,;
M=2]XQ\63^-M=DU*ZCMX[F8#S3""!*PX+')/)]L#I@ 8%9=7M?\/WGA>^6UOH
M?(N&BCF*9&0KH'7([':PX/(Z'FJ-*-K:!*_4****HDM:+K%QX>UFUOK23RKJ
MSF2>%\?==3E3^?\ GFOT ^%_C&'XB^ ]+UJ%=GVZ .R?\\WZ.OX,"/PK\]:^
ME/V&?BFLEO<>$;KS/,C9[RS;'RJAQO3/;GD>NYJ\W,J/-#G70]#+ZCC+E9],
M457FF6)&:1E55&68G:J_7FH=.UNSUA6-K=6]TJ\-Y,@?'Y5X)[A>HH P** "
MBBB@ HHHH **** &GK^M8%YXN;3]<N+>ZL[BWL8Q;I%>YW)-+*Y38 .1@[/F
MZ?/SC%=#7(?$KQA?>$]+^T6=FLMO#!-/=74S[8K2..,MD@ EF8X 4#K]"*<=
M78F6QNQ7DERZ^7;S;=I8.R^6N<_=(/S9_#''6EGU"&QGCCD?]](?DC RS#<J
ME@!R0"PR>P/->=:=X+F_MW3[JWUR\A:Z\0/>RVK2-LVE992FS)VLR%>,JN"6
MPQP#Z9!:0Q7$DRQJ))/O-CYCVZ_A3E%1T",G)'E/[27P<L_B*FGW4GG1M#^Z
MWQLB@Y^2,?-QP\@/N%(XX-?(OBWPO-X-UJ2QFN+&Z>/GS+2X6>)AV^920",=
M.N:^HOVZO%RZ5\.+725\P3ZI=*V,85HX\LW/^]Y?%?)=>YEO-[.[V/%S#EY[
M+<],^%7QZT_P%X'OO#^H>%[/6;;4)<SR-+Y+R(>@8[&)*GE3Q@GL<&L.[T[2
M_BA\43!H=O#X?TF\(8+<R?):1K'F5V)/0;6;@CL/IQ]3:?J-QI-VL]K-)!,H
M8!T.T\@J1D<\@D?B:[/JZ3<ENSE]HVDGT-CQ/J]O;:1#HMC<7%Q:VLSS33,V
M([F3E0ZIU"@$[>3]\GC.!C72S96299?WR[U9\_O!DKD$]>01GGD&O0_@[X&\
M*W&E7&O^+M8BAL;5RL-A$_[^]<8SP.0.5X'9LD@5R/Q"\7CQQXLN=12VCL+>
M3;'!;1G*VT2J%50>G0=>!GH.:F-37E2VW"4=.9LQ:U/!?@^^\>>(X--T]8S<
M39.Z5PD<:CEF8G&% Y/.?09Q6MX;TB3P7/I^N:M&\%O,AN+2!0C2WH!V_=;.
MQ#R-[*0<'&3G'IGP#ET^Y\:ZY'HVJ6UOX=U8".XLK^!/M3JV\^7&JR!L!?DW
M*22SK\IZK-6LXQO$*=--ZG-^)_V5/$'@_P ,3WEU%+?7,DL4%I%8*TN2^1O<
ME00O&, ?>8= 03Y>Z-&S*5VD=L8KZ&\6>"_$7P>U34&\.V-XWAO7(5WP/.\;
M642H@4F9B!')O9OE^;A1G/(KPOQEI&J:1KDB:P6:^D42,[3K/Y@/ .]20W3'
M7M2PM64U=M%8BFH[7(O#'B6Z\(Z]:ZE9M&ES9R"2,LN[!_I]1@^]=CXA^(]P
MMS:ZA-9V.M:;J ,S0W]N&5)PQ,J(5VM'B1MV$8 [@3G<5KS^KZ^(KB/PQ)I)
MVM:O=+>*2/FB<(R';_O!AD=]B^E;SIINYG3FTK'T7\/?C_\ V3\"6^P:"MK-
MIR[#'!<JK-:[W\R:/<2_R%L?," S \\@>'77CJS$FI>5:ZM(FJ3F:?[1J!VW
M8W;AYJK&"3G).&'+')-9&@^+M2\,PW4=A=-:B\3RYBBKN90<A<D9'//'< ]0
M*L/XHUGQ;8V>BS7#WR_:!]F6;#R(['& YRV"6Y'0G!/:L*>'C"5TMS:6(<HV
M;V,7.?Z45V'@'X9Q:T^L76N7$VDZ3X?1#?$QYN-\A*QQJA&<E@,YX &"17)W
MBPK>3"W:1[?>?*:5=KLO8D9.#CMDXZ5TQJ)MHPE%VN1T4451 4444 '48_QK
MZ6_97_9HTO5?"MOXBUZT^V-J$;K#9W$0\M$W+MDYY.=IQ_LM7BOP0\)+XW^*
MFBZ:UPMJEQ,6,A4-C8I?@'N=N!G/)Z&OO:W7;%\IW#  /K_3\J\G,L3**]G$
M]++Z*D^>1\L_MXZ UMXIT.^CM66&2U-N9L_(2K$A .Q 8G'0@CKBM+]B;2=/
M\1>&/$UE'-J%K>.(?-D1ES ?WP2:%B,JV&(Z'&P'=\V!)^W_ &<T0\/7"R3-
M;R-,CQX7RT<!"IZ;LL"PP21\HP <DX?[#NLMHNH^+)!';R+#IZW&UI LK%"2
M !GA3GDX.#MY&<5EJ\,5I&N?5UK%Y4"KN9MHV[F.6..Y]ZD/7.,G'YUXK\*?
MVCYOBQXYAL=*TN:UT^%6O=4NKF4R; 8L;$_NCS" ,'D*3@<UZ%XP\5M:65U:
MZ?=6ZZA# +EPTB[H83D>:H8;6P0."5'N.,^=[&2E9GI1K0<;HV=%U^Q\01S2
M6-Y;WD=O*T$C1.'"2+PRG'0CTK1W?)7Q/\1?VE=5U/[';^'Y&\.VRE[B[CL9
M&4RW#R%I"6XR"?FP. &QS7T-^R[XIOO$7PFT^;5KYKK4K@S7&9I"TQB,KJ&(
M;!QN! ZC 'T&U3"RA'F9G3Q2G+E/A?\ X.I#G]ACP;_V.L'_ *1W=?@77[Q?
M\'0/B2S\1_L,^&ULY/,;3?'T5I<*5*F*1;*Z)'/7@@Y'8BOP=)R._P"-?I'"
ML6L$O5GAYHU[?Y!1117TQYH445]V?\$,-!\"ZWXF^/TGQ*T$>)/!.D_"W4=5
MU:Q$8:62"VGMYW,))7;, F48,I#!2&&,UQYAC%A:+K-7L:4:?M)J!\)T5^H_
M[7/[(GA/]FG_ ((W^,M2\"^*-/\ ''@'QU\0=-USPOJZJ!>)9/:^6UO<#:"D
MT<B.C*,<C)56)07_ (T_'_Q1_P $S_ GP#\$_!7X5^%]:\-^.O"6G>(-5U>]
M\/'59O'&H70+36IEP3\OR_NU.]1*F J[0?%?$"<+PA>[:5W;;5W[>AU?4;/W
MF?E317Z\>#/V=? _P)_X.5_ .A^%=/TW3=+UK3+O6K_P_$J26^@7D^AW[RVB
MJ!MVKM20*, "90H"@ <__P %:_B$OA?]B+P/=>,_%G@_XH?$+Q-XL;Q!X'\3
M^'O#:6%MI^DVRA9H))A&HD83,H:$C.X@L/D J?\ 6%^VA",?B2?W_P"5@^HI
M1<F]O+_@GY3T5^G7[?'[<WQ$\?\ _!'GX$ZMJ5]H[7WQ>F\0V?BB:'1K2)K^
M*SU$QVX39&!$51%!,>TGODYJ3XW?LU?"'XO_ + '[*=Y\0?C9I?P;O+?PI??
M98Y?"MUJSZN&N5+.6@9=FP[1\V2=^>U5'/VH*I.-KMK37;Y$_4T[I2\_ZU/S
M!HK]H++P]I\?_!T[)9K9V?V/^RB?(,*^6#_PC^<[<$#GGCKP:^*_^"I?[0-_
M^T'KW@?P[IOQNT/X[6\3S2P2:1X&'AM["YE9(UA*A0TQ< $8. 1TR:NAGRJU
M8PY;+E3NW_P/U*E@^6+D^A\9T5^L_P"WK_P2PT_X?_\ !,/2=)T/POK4/Q$_
M9_MK;6?$^KG2I+>QU]-25I;Y;:=E"WGV5EAW,I/EQQ[3@G I?\$P?BG:_%O]
MC'PO\'_A?J7@_P (_&*,ZQ=7>D>+?"2:AIGQ&C9GD4?;&0[&ABPF,Y/E]"HX
M4N(8.C[2FKVE9^G<%@WS<LGTO_P#\I:*_2+_ ((O?M->./A7\+_VCO!ZOIMO
M:_#WX=^(O&&FV]SIEM-)9:Q;I$JRL[(6(4H/D8E.ORU\ ?%KXL:U\<OB3K7B
M[Q%-#<:YX@N6N[V6&VCMXWD;&2(XP%4=.  *[L'F%2M6G3<4E&VM][[&-2C&
M$5)/?RV.<HHHKUCG"C^)?K_0T4?Q+]?Z&LZ_\*1I3^(_L,^%'_),?#__ &#;
M?_T6M=)7-_"C_DF/A_\ [!MO_P"BUKI*_#:WQOU9]C3^!'$_M'?\F_>.?^Q?
MO_\ TGDK^06OZ^OVCO\ DW[QS_V+]_\ ^D\E?R"U]MP;\4_5'C9MT"BBBOT%
M[GAA7UM_P1%\ >'?BE_P40\,Z#XLT>SU[P[J&DZRE]87<(ECN(QIMR<8/0\
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M_L=KK_TCLZ_2QQD^]?C6<?[[4]3Z[!_P(^A\<^(_!UGXF^/XM=<N+FQ5]62
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M7+*"^[[@6(J+9L[[X)_M*^+OV>;?QK%X7OH;2/Q]X=N_"VL^=;K.9["Y $J
MN#M8X'S##9/%<#_GZ445TTZ-.#YHJS>^F]C-R;6K"BBBMB0H_B7Z_P!#11_$
MOU_H:SK_ ,.1I2W/[#/A1_R3'P__ -@VW_\ 1:UTE<Y\*O\ DF&@?]@RV_\
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M(4LQ@LH)7+89LG_5IM#,2<D<GBJ_MO&_\_']R_R%]3H_R_F?*?\ PY6^ ?\
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M.10'?S#'N?&/W8B48Y&WZ^<AA\WW<<U\\_&KX=0V>H:Q'8PW%G+J$5W-+=3
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M:Z:"-IY BY\M%^\Q]%'>MN96N9\KO9D_A3P;J/C?4&M=,A6XNE4.L?F!&;D
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M&W;G()[ UU8'$.G)0>S.7&8=37,MSXQ_R ..E>@_ ?X47GQ#\5PK)H_VS26
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M_3[;?_'*3_A+M<_Z%.__ / VV_\ CE;<K,_4Z6BN:_X2[7/^A3O_ /P-MO\
MXY5S0[[Q5XEU".ST_P #ZQ>W$QVI%#=6S,3_ -]_SJ9:*[*C%MV1LU?\/>%]
M4\5WWV;2["\U"?'*6\)D(SW( QCW.*])\ ?LL^+ED:?Q'X-U PLJ%(;76+17
M&3\^YF?&0O0 8)ZD5ZEH?Q'T?]G333IJ^$IM+:9C+*)-:LI)IF'&XCSMV/P
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MFTL;?0? =Y#-)=H+F>XU"RD6&$ LWRB<$Y("]>_XCY(_:.U.Z\*_$FXTW3_
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M5/\ XY1_PYG_ &>/^BY>/O\ PE4_^.5Z511_;6+_ .?C^Y?Y"^HT>WYGFO\
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MO+_?0>3\I]U[\]:N>,?"_B+XAM9_VY\9_".J_P!GD-;?:M=NI/)/]Y?W6=W
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M^!EM_P#'*^^?^&TO@_\ ]%4^'?\ X4=G_P#'*3_AM/X/O_S5+X=]?^ACL_\
MXY1[.KV?W!S1ON<E_P $]?A'XB^#7P:U+2_$FFR:7J$VJR7"1/(DA9#%$-V4
M8CDJ1U[5[]7-> OB3X;^*>E3:AX7U[1_$5C'(8'N=,O8[N%)  2A>-B-P# D
M9S@BNEK"5[ZFFG0****0'S[^W!X!AUO2]-UQ[B2U_L\M;2-Y#2KM<@AF(^Z
M01W)W# ]>!^''B_PSXI\.MX%\4,VI+#>#^R]2CV1L V =I<C@8S@\LIQC<%4
M_2/Q2^&6F_%30OL.J+=-&H8Q+'.Z*KGHS*I 8KC(!SWQUKXE^*G@<_#?QQ>:
M2K7DD=JVQ9Y[<P?:,<,R+GE-P8 Y.0!WS7J8/EJ0]F]SR<9&4)^T6QZ'\:O@
MK9Z#I%Y/I>DW*MI_^D7%U 7^QEF<(8HW898*%SC.5);+'BO+]:\-C1- T^::
M1EOKQY':W8#]W!B,QR'G(WDR<'G" ]"*V]"^*;7S6]KXD6YU*SMV!BN(Y&6Z
MMCP"P967?\JCASQM7D '/7WWP2M8G_X2*QO[[6K.%(KM;8VXDN+MG\LQI]]N
MH=2X."BNIVMD >A3E*G[LW_P3CE%3UBO^ >/_AVZ?IP/\_C6IXTM8;+Q3>0V
M[P20Q/L1H1A,  << ^QR,YSGFH/$$%[#JLK:@LR7<Q,D@ESYF2<_-GG/UJE7
M5OJ<^VE@HHHJB0/^?\^U>4_'O]N#X2_LP2M#X\\>>']!OEC\W[ \OG7Q0Y^;
M[/$&EP<'!VXR#6I\<_@$WQWAM;.Z\:>.?#VBQ@K>:=H&H1:>NI@_PRSK$;E0
M>A$4T8(R#G-<WX _X)\_!KX5:)=6^@_#?PFMU=*X>]O[%=0NYF8$$O/<;Y2#
MDY!;OTK&I[2WNHVI\E_>9\_Z5_P<(? '6/B-9Z#;KXV:WO+I+5=6DTJ-;,;F
M"ARIE\X)S_SSSCM7Z#>,=$NGL;/7GA9;?6E+[VE4[Y@2),#.1EE)P?[PR?7\
M'_@Q_P $+_V@OAM\>?#^O77AOP7JFG^'=8M]0:&XUU8K6_6&59-GRHTBJV,'
M]WD ]*_5 _"/XY?&B.WL/%WQ<TWX9^'[J0&[T[P-I"W=S#P07&H7@9MPSR8[
M>/( XR!7+1K5G\2.JM1HIKD?XGHGC3X3:5XVO+B;6M0UZ2WD78+6/6;BRM8X
M\ ,I2%D#@XR?-WDY(&  !R/A_P#8:^".C3?;+'X4_#=K@L7^U-H%K/,6/4B1
MT9LGU+?KFOFW]LO_ ((2>$_C!\.[Z'PQXX\87WCJW'F6FM^(=>N]2@U-P,^7
M<"9=RJ3QO1%*D9VL.#\V_P#!/WX#_M4_\$P_C-J"W7PIUGQIX+UZ,V]_8Z5J
M]K+$[*<QW4)WGRY!EAB0)N5R#@@$5*I)2]^.@1HIQO"1^IB_LZ_#Y+;R_P#A
M!?!ZQ_W!HMOM_+9S7!_$C_@FW\!/BK8W4>L_"?P2OVH'S;BQTV/3KAL]6\VW
M".&'KFN5UC]H7]I+Q=<O#X7^ .D^&[>08AO_ !;XQMN#ZO;V8E< >F_/TKA_
M&_\ P3[^-W[6NF"U^,WQR;1]#NGS=^%_ .G_ &.S*GCR_M<Q,DJ\])489P<<
M"M)R36D;_(QIQ<7=RM\S\</VE] T/]G/]L?Q%IOP9\7:MJ&DZ!J*QZ)K-C<L
MMT)"B;UCFBVERDA9 Z8#!<C(.3^\/_!,K4_BUJ_['_ANX^-$=Q'XRD:7 NX_
M+OFM-W[DW2_PS%<Y& =NS<-^ZIOV8O\ @FI\%_V29H[SP?X+L?[:50O]KZB3
M?7W'5EDDSY>>XB"#L1VKWBL\+AY0;E+[EL:8K%1J+EBOF%%%%=QPA1110 44
M44 %%%% !1110 J?>K3\'>$M0\<>(+?2]-A^T75P3M3(Z $L>O8 GZ ^E98&
M6_ GZ?\ UZ]4^%GP=\/^)EU9;OQ!_IFFVT>H0OI\R 21['9XP)=I\Q=HR0=H
MXR>:QK5.2+-*<>:2.L^+]EKWP.^%NDZ;#:Z6LD<+6EWJ-JVXL)C*?+\LC()5
M%)DP"608^Z*Q?V-_A?9_$'7M:FU2SCO-.M;58BCJ>7=]PQCIPAS@YY^M>C>*
M8[Z7X2I<Z&NF^*+6QB2]BCU2,OJ%BKINC:0!BLN(Y. P  QG=@UP_P"S[\?]
M03QO>:78Z#I,D^O3E[5#<?9H[4A%!7?M8E=L:_* "2/< >7&<G2ER[]3T)1B
MJBYMNA[!\1_V>]%N?A]K%CI-BUKYUO+,EG Y6WFN G[M]G(#@JO(QD9!R.!\
M6R1M#(RNI5U)#*1R"."/\XK]%])FO)M-MVU".WANV4F5()#)&ISP Q4$]NPY
MKXX_:]\'V_A/XU7@M86MX=2B2\P%VH7;(<K]64D^Y-&6UGSN$BLPHI1YT>::
M==K9WB-)'YT.X>9%O*B500=IP1QTZ8/3'2K>A^+;[POXB_M32Y%T^\C9FB,:
MAO)W @A=V>S$<YX(K-HKVFKJQY,=#J]?^-/B3Q-X:_L>\U -IOR[H5ACC#[2
MI&[:HZ;5Y[$"N8N;26S95F1HV=%D4%<95AD'Z$'-1YVG\<CC_.?I776_Q/A;
M0--M[_28-:N-+5X8&O96,,<1"[5PA4M@CC+8"C&.]9\O(K11I\>LF<C15W7O
M$%QXEO5N+I;=9%18E$-ND"A1]T;4 ' XY&< #M5(?YX_S^7M6BVV(EN%7?#W
MAO4/%FII8Z;:S7EU(.(XT+$#N3V"CN3@#N15GQ5JFDW_ -G72]-FTY84VNSW
M#3&<X7YB",!MVX_+P05&T$$FC9:E<Z7)(UO//;M*IC<Q2%=Z'^$X['T/%2FV
MM!Z)ZD#HT<C*WWE)!P<BM/0-#M]6T[5)YM2M;&;3[<3PQ2_>NVWJI1/]K!)[
M].PR1ET4:V#J%%%%42%%%% !78?!GXO:E\(_%EO=6]Q/_9[2J;VT!/EW"=#Q
MTW@9P>,$?A7'T5G4IJ<7%E0DXNZ/T$\)?%#P_P"/ O\ 8^L6%](\?FF**4&5
M5]63(9>2.H%= Q/\/WN3U_R:_./2]7NM#O5NK.YN+.XAY2:"0QR(?8CFOK[X
M _M):;XQ\"6_]O:E8Z=J]FWV:4W-RD7VPA1B1=Q&<Y&<?Q9QP17AXG NFN:&
MJ/:P^.4O=GN:GB_4/$7A+X3:U=30VL>I6=I(+.VTZ.::*&,G'S'*AF50!G&5
MVLW(.T?$M>Y?&_X\>(O!'Q_U*:QG^RPPK! 8BPFCN(0!(I&1@;@V>.1D\FO&
M?$-Q%=Z]>S0D-#-.\D>(Q'\I8D?*.!P1P  .U=V7TY0C=K<X<944Y63V*=%
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MR1X*1*>"W//8]S3J!WUQ=?$K4?B-?>*+_P ,_#C5-0U*WA@NDO;K3KB&5X@
MLXW3EDDPH)*D D<K63K&@?%+Q!IOC*WOH/#MPWCFY@N]2FDUJP$BO"[.@3%Q
MA1\V,8/ %<S\$?V9+WXVV/B2XL]4M[>'14:*R)B+?VO=[))(X(PQ4@LD3MN/
M(RHVG/%KX8?L^>%_'/PBU3Q/J'CR;19- V+J=B-"DN#:F25XX@'$B[RVT'@?
M+N(QQ3TZ 3?$OX4_$#XI^)(]4U*Q\.QW$=I!9J+?6[!4V0QK&G!N"<[5&>>N
M:Y[_ (9B\8?\^FC_ /@^T_\ ^/5P'3_ZP_S^O(Z=J* ._P#^&8O&'_/IH_\
MX/M/_P#CU'_#,7C#_GTT?_P?:?\ _'JX"BGH+4[_ /X9B\8?\^FC_P#@^T__
M ./4?\,Q>,/^?31__!]I_P#\>K@**- U._\ ^&8O&'_/IH__ (/M/_\ CU'_
M  S%XP_Y]-'_ /!]I_\ \>K@**- U.__ .&8O&'_ #Z:/_X/M/\ _CU'_#,7
MC#_GTT?_ ,'VG_\ QZN HHT#4[__ (9B\8?\^FC_ /@^T_\ ^/4?\,Q>,/\
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M+A1*BLRM\M>P,.?_ *]9VB>$M)\.W=Y<:?I>G6-QJ,AFNI;>V2-[ER2Q9V4
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M  37'_Q%'_#-'Q(_Z$/QE_X)KC_XBN3_ .$AU#_G^O/^_P W^-'_  D.H?\
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M->..6WD^9MN/F*=0ISP3E6'()'-9$^IW-Q;+#)<3M"@"K&[DJH&[  /3&YL
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MXVXW#EL#KUQ1H/4X+XU^-#\4OB'=ZY!:ZQ']L2/?_:-S]LN&94"Y,@1,C
MV\8Q7*?8;C_GC)_WP:]LU/QE\=M*;4%O/$WB:S;2]3BT>[\[61'Y%U("43)<
M?*<$A_NXP<@&K7Q#UOX]?##0K?4-:\6:Q;VMX4$!B\2P7#S!]P5E2*9F925/
MS $9[T:"/"?L-Q_SQD_[X-'V&X_YXR?]\&O;/&?C3X[?#_QWIOAG6/$7BJRU
MK6!";2W;5PPE\U]B?.'*CYN/F(P1SBG77BOX]6NA^)=2;Q%XL:S\'WK6.L2)
MJV\VDRMM8;0Y+ 'JR@KCG. :H#Q'[#<?\\9/^^#1]AN/^>,G_?!KU3QS\<?C
M!\.M>;3-8\8>)K.^CABF:/\ M1I/DEC61#E6(Y5@>O'0X-8__#5_Q*_Z'KQ1
M_P"!\G^- '!_8;C_ )XR?]\&E6QG _U,O_?!KN_^&K_B5_T/7B?_ ,&$G^-'
M_#5WQ*/_ #/7B?\ \#Y#_7M0!^JG@OCP=I/7_CSAZ_[BUJ5E^$9Y)_"NFR2,
MTDDEK$[LQR6)0$DFM2N<T.*_:,_Y-]\<?]@"_P#_ $FDK^02O[ OC/H%QXM^
M$7BK2[1H5NM2TB[M8C*^R,.\+JNX]AD\GM7\[*_\$ ?CPP_X_/ACT_Z&ZVKZ
M[A7'4,.Y^VDE=KJ>/F=*<W%13/B.BOMX?\$ ?CTO_+Y\,_\ PKK:F?\ #@3X
M\_\ /Y\,O_"PMJ^T_MS ]*B^\\A8.K;9GQ)17VY_PX$^/7_/Y\,O_"PMJ/\
MAP)\>O\ G\^&7_A86U']M8+_ )^1^\?U2IV9\1T5]N?\.!/CU_S^?#+_ ,+"
MVI/^' GQY_Y_/AE_X6%M1_;>"_Y^1^\/JE3LSXDHK[;_ .' GQY_Y_/AE_X6
M%M1_PX$^//\ S^?#+_PL+:C^V\%_S\C]X?4ZW9GQ)17VY_PX$^/7_/Y\,O\
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MU<WT<8N[AY@!L2-&VX55 R6R23P!7(?\-;>)O^@;X)_\)>P_^-4?\-;>)O\
MH&^"?_"7L/\ XU1R@=!\3_VH--^)_P"SM_8-[9W2^+/[3@>XU *I6_MH$E6)
MI3NSYH60)DJ<J@.>P@LOC?X3U#QU\+]0UBTU.XT[P/HL5M>P+&NZYN8I)I4"
M_-@Q[V3)/.,\>N-_PUMXF_Z!O@G_ ,)>P_\ C5'_  UMXF_Z!O@G_P )>P_^
M-4<H':?$;]K/PS\4[[P7K%SX?O='USPOXC%]*(K@W<<]H\PN)0'D(;=YFXJF
M-JAC@@<!VD?MB:;X5F\82V=G>74?B;QG)K$MI/&ODW>FRI.DL$G)PQ608&"
M0#GBN)_X:V\3?] WP3_X2]A_\:H_X:V\3?\ 0-\$_P#A+V'_ ,:HY0*/[3OQ
M,T?XM_&&_P!:T&&]M])FM[6WMXKI=LRB*!(L'DXY0\YY&.E>>GIZ^^,9KU#_
M (:V\3?] WP3_P"$O8?_ !JC_AK;Q-_T#?!/_A+V'_QJA*P'E]!^Y^->H?\
M#6WB;_H&^"?_  E[#_XU2']K/Q(W73?!?U_X1BP&/_(54!^HO@G_ )$[2?\
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M_!7-_P#$T <9179_\,Y_$#_H2?%7_@KF_P#B:/\ AG/X@?\ 0D^*O_!7-_\
M$T <9179_P##.?Q _P"A)\5?^"N;_P")H_X9R^(!_P"9)\5<<_\ (+F_^)-
M'VO_ ,$H_P#DWO5O^PY+_P"B8:^GJ^;_ /@FGX,UCP/\#=4M=:TO4-)NI-9E
MD6&[@>%V7RH0& 8#J01GVKZ0K&6Y<=@HHHJ1A1136./RZ^E)[ >(_MPWVO/\
M&M0L-!T>ZU:YOK:2,B*!9?)!QEB"#TC\P<=R*_+V_P!/N-*O)+>ZAD@N(F*O
M'(NUE/N.U?3W_!2KXU:H/VC+?2]+O)M-_P"$7M%C2>SG>*9I)@KMEE(X"E5
M[<]<\?/WB_Q_??$IQ=:MY,U]:VB1+=)&$EF$?RYD(^^Q7 )/)QSDY-?6Y31E
M3I)O9GR>:5E4J-+H<Y1117L'EA1110 5#>V,6HPK',@D19$D /9D8.I_!E!J
M:C/S?YQ[?Y_R %?H6]!MDO-:M8Y&VQ/(!(3T5<C<?R!KSSXB?%GP+)XXUR*\
MU:&?Q#K&EW&DW5EIIEOM1BLKD[I%6&WWRQ!L*2ZJ&.T<_+3&\":Q\<]'FU"X
MU9?#NB^3YUK!;64-U=S(Y"Q,QN5DMT9@Y8CR&9<<2 YQGW?[*OAW6[!;?5M2
M\7ZI#CYXFU^ZM()O]Z&W>*(_]\URU(RGHDOF=5/DAJV[^1\Y?"[XIZ]^QG^S
M_P"+-+OKI=/T_3;_ &?#30]92(Z]J\1=F:":WB^?:\CJ%.!*I9MP'RBOL/PI
MH5GH]I<7-O:R6<VL3?;[Q99&>1IG10VXL2>%1%P, !5   %8'PX_9P\!_">?
MSO#GA/0=)O&&&NXK16NI/]Z9@9&_$FNTS\W]W_/-%&C*'Q?(JM6C/6/7<Z3X
MF? N\T/X6:+J6L+-#:^,HKF*.V)DM[@0J(_WBNI#!764;74@Y!Z8S7+V=E'I
MMG#;PQ1PPP((XXT&%10,  >@'%7KS7;K4--L[2>XFEM;!6%O"6.V'>VYMHZ#
M)/7O57/_ .NMJ<7O+<YYR6T0HHHK0S"BBB@ HHHH FMM0N+(YAGFA/K&Y4_H
M:O1>-M8C3Y=3ON/68FLV*)IY51!N9N%^O3^OM6U\0OAQKGPH\2OH_B"QDTW4
MHT64P.ZOA6Y4@J2.?8UG>%[=2ESVN-3XCZY%TU*X/UY_F*L1_%;7T9?^)@S>
MQB0_TKG: ,M^GI_G^55:/8+R[G4?\+BUU6_X^(6^L*\_E4R?&K6@.MHWN8C_
M (U'HOP8\1>)-!M=4L[..;3[IV4SBYBV6@!QON/F_<(2#\TH4':2.!57QC\-
M]2\&+YDS6-]9[E07FG7<=Y;;FW$(9(V8!OE;Y3@D*>.E3[E[:%>]:^IHK\;]
M9'\-DW_;,_\ Q5/'QSU8]8K$_P#;-O\ XJN+HH]G#>P>TGM<[3_A>6K?\\;'
M_OVW_P 51_PO'5F_Y8V(_P" -_\ %5Q=%'LX=@]I/N=BWQQUAQ_J[%?^V9/]
M:O\ A'XOZCJ/B.WM[M;7R;C,8'EE1O((3)STW;<^U>?UI>#KG['XLTN3<J>7
M=1G<QPN-PSGVQU^M'LX=A^TG?5G0R_'#5@658[%<$CA"?ZT_1OCWK&D:O;73
M1V<Z6\JRF)D*K+M.<$@Y]>A%<?J-LUI?S1,K*T;E2#U&#BH1S@=SQFI]G"UF
MA^TGS:,^IA_P4X\3>*+;4+'4K?3]-BO),P7%O$2]FN.57GKWW')'/L1RNE>,
M]-\13^79W\=Q(!NV<JP]>N,^^*=H/[$7]C_""X\8>-M>D\,VS1":UA6S>X:9
M6&4R1QEN,#/'7O7@+';(VW. 2 <8R/I7)AZ-"3:I=#JJ5JRLZG4]V'CK1EU+
M['_:-OYV=O&=N?3=C;^1K8=#&V&&UNXQBOG'=\WXUT6G?%37-*TFWLX;PK;V
MS%U78#N[8/'2MY8;31F=/$)O5'M3=/U^O^<U>O\ Q)J&K6%O:75]=7%K9\00
MRRL\</\ N@\"O(YOCS=?V?MCL(X[K;CS?,RH([A<<?C6Y\+6^(7QOU5;'P]I
M_P!OF7_6SB'Y5]W8_**YY4W%<TMC:-1-VCN=QIEBVJ:A;VL>=UQ(L:CKRQQQ
MT'?_ /4,FOK[X<_L\Z/\/M>DF556QN/L]O;M<L?M%ZZ[V;>I7@%V0[1@$0KD
M8SG._9X_9.A\ 6-EJGBB.VO/$5N5F4Q,?*MG X/)P6!Y'& 1GTQZOI'A)K:^
M^V7UQ_:%]&6\J4H4$*G^%5W%1Z9 S7S^,Q?/*T'I^9[F#PG*N::U_(WHEVKC
MCY>  .!3MN6_#!JG=:S:V-Q'#-=6\,DG"(T@#-]!UJZGW:\T](\._:H_9QN/
MBF(=:T7RUUBUB,<D3C;]K0<K@] X).,X!W8)&*\E\(?L7^*M;LY)M4:ST.&,
MD'SG\V4J ,L A(_,CG/;!K[ U/3X=2L9K6XC66WN$,<D;?==2,$'\*JP>'[.
MWT5M/AM8;>Q9&B%O"@CCVMG( 7IU[8KLIXV=./*CDJ8.,WS,_.J0;96 .X;C
M@XQG_/U-)7J7[4OP=TWX1>++.+2Y+C[/J,;R^3(^_P H @<-@'!.1@Y/'6O+
M0<BO?HU%4CS(\2M3<)<K"BBBM3$*Z3PQX8?QAX7O8;"WA;4--+7MP[ML=K?Y
M5^5B=@"L2S9QP<Y.W YNK%AJMSI:W*V\TD*WD7D3!&(\Q"P8J?8E1GZ5,KVT
M*B7O".EV.N:L;6^O%L5FB<13R9\L2X^0/M5B5)[@=P2<=:_B30IO"^O76GW$
MD4D]I(8Y&C;<I8=>P/M@@&C_ (1;4CH\VH?V?>?88& EN#"WEH6^[EL8YR/S
M%42<D_WN^:F.^C!VML%%*O/_ .JDK0D**** "CV_K111Z@27E]-J=W)<7$LD
M]Q.Q>220[F=B<DD^M8-\?^+A:7_V#[S_ -&VM=)_8UR/#UYJSQK%I]@5$\\C
M!44MT&3US@G R<"O*_%/QHTVP\=:<UC'-?/'87B_-^[CYDMB#DY)Z>@JJ<7)
M^Z3*26YW^N:I'H^D23>9']H8,((6SF=@I.T8&,G&!GN:^8/AQ<_;-&U"7&/,
MUK56P.V=0N*]>UOQ?<>.? LM]Y=O!>:'>I,/*^5DC88S[_, /;/O7D_@-,:-
M=SJ@CBN]8U::(#LIU&Z&/P((_"NS#QY4[G/7E=*Q+HO_ "&]8_Z[Q_\ HE*V
M]+TFZUW48[2SMYKJYF8)''$A9F)QT _SC-8FB_\ (;UC_KO'_P"B4KZ%_8)\
M%ZQJOQ[T/4K/36NM/WW5C/.T9E@MF>SEP95! V\@X8@-A@#FC$5O90<S/#TW
M.:BC)_8P_8_N/B[%H+2W5NS27;:E=:=)%*J2:9]KD5W,Z'Y79E91'PQ&6!&.
M?TB^''A"U\#Z_J&DZ;']GT^PL[2*WAW%O*3]]A1GG S@<\ 5S_[)G@J/PS\*
M[>1HUAOI+N_6Y$$LAMR_]H7+ML0G &YV ;:#M"CH !W&@_\ )0]>_P"O>T_]
MK5\CCL9*O)]CZS!X.%)7ZG#0^"KCXE^+/&7V[Q%XDM;?3]56RM[:TNDBBAB-
MA:NW&S/+32<]<-BOG+XI_P#!/C6/"T6OZEINO>)IM/L9EEM(4N5D:2W;.<84
MMNCXW J 5.X$D$5]:?"]MOBOQ_\ ]C O_INL:[(\G\,URT\5.B_<-:F'C57O
M'S?^R_\ LEP^%?!=GJTVM>,M/UC4HCY^;]-RQ[CM48CP P"MQUX':O6E^#3@
M?\CAXV_\&"__ !NNW5<"EK.I6G4GS2-:=-05D</_ ,*5D_Z'#QM_X,4_^-T?
M\*5D_P"AP\;?^#%/_C==Q12NS0X?_A2LG_0X>-O_  8I_P#&Z/\ A2LG_0X>
M-O\ P8I_\;KN**?,P.'_ .%*R?\ 0X>-O_!BG_QNC_A2DG_0X^-O_!@G_P ;
MKN**5V!\;_\ !2[P"WA7X+:-.VO>(M2WZPB>7?W2RQK^YE.X */F&/7N:\)^
M'GQ \+^*O@!9^"-<\37W@>XTG6'U5;R&RDN[?40RJ '6+YO-4K\A/&,#(/(^
MLO\ @H_XKL?"GP>TBYU#0=-\10MK"1K;WTDR1QMY4IW@Q.C9 !'4CFOC=?B1
MI;: VJ#X/^&VTU)/):[WZEY DZ[?,^T;0WMUY'%:QU6I+>IZAHO[8?AFQ^*W
MCCQ-Y!OHYM'L+#3H=4@+RZS);R0Y>4H&"NP0MECC(7J1BL_X<_$_P'X:_:)\
M4:Y<>*EU#0_%FA7"A]8L+JYDM[B8H3;7*(F9-I!!:,E2H'S G%<!JOQ'TS09
MH([[X.^';.2[B6:!9SJ4;3QMT90T_P P/0$9!P:?K'C_ $_PY=P6^H?!OP_8
MS7 #11W!U.-Y0>F 9OFSTX[D4<J%=G?>!OV@?"WP;\;^.-0TG4M'EAU*/2EL
MX=+TJXM+6\1)XS=1"*4%DS%OR6(R6.TGI2_&W]I#P=?_  \T?0_#;K>Z;X.\
M56T^E6$T$H^U6,-O\TCED _>3-)P<-@_=ZFO/I_B#IUFM]YWP<\/Q_V652\+
MMJ2_9"2% D/G_(2>!GJ:DF\<V<%VMN_P8T%;B2W^UI$PU-7:'&XRX,_*  G=
M]W -/E0CT#Q#\=_!>G:SX]\96/BS7-<OO'VFW%@GAV>Q>(V#3+@>?,S>6R18
M(39N.".G-?,N.?\ ZW^?\^U>R#7,Z/\ VB/@9IO]GF+[1]J$.J^3Y>-V_?YV
M-N.0<XQ5#0_B1I?B>]^SZ;\'_#>H7 !8Q6KZE,P ZG"SDXIVL',SRJBO5$^)
M&EOI=S>K\'O#;6=F_E3SA]2,4#G@*S>?A22<8.#3G^(FEIK$>GM\'?#POI@I
MCMB=3\Z0, RD)Y^3D8/ [T >4T5ZTWCFS3Q!_91^#.@_VLV<6?\ Q,_M!."3
M^[\[=T!SZ4VW\?:?>6]K-%\&_#\D.H2_9[5T.IE;B3NB'S\,P_NC)H \GHKT
MJX^,7A^TN)(9/A3X3BFA8HZ/<:BK(PX(.9P00>W^%-/QK\-?]$M\'_\ @5J'
M_P D?_KZ]Z /-Z*]'_X77X9_Z);X/_\  K4/_DBC_A=?AG_HEO@__P "M0_^
M2* /.**]'_X77X9_Z);X/_\  K4/_DBC_A=?AG_HEO@__P "M0_^2* /.**]
M'_X77X9_Z);X/_\  K4/_DBC_A=?AG_HEO@__P "M0_^2* /.*#]S\:]'_X7
M7X9_Z);X/_\  K4/_DBE_P"%U^&O^B6^$.O:ZO\ _P"2/Z4 ?J9X)_Y$[2?^
MO*'_ - %:E97A.3SO"^FLL:PJUK$0BYVH"@P!GGBM6N<T,'XE;D^'>O,K,K+
MIUP00<$'RFZ5^6_P)T37/C1\5](\+KXFU+2_[4,@^TM,\BPA(GDSM##/W,=:
M_4KXFG/PW\0?]@RY_P#135^3/P<^)MU\&/B1I?B:RM;>\N=+:0I#/GRWWQ-&
M<XYX#D_A6E._0B5CTCQE^S]XT\&Z/YDGB*_FOIO%$?AJTMUG?R[P2PK-#<JX
M<C8ZLO !QGKG(%_Q7\ [S3++Q1:Z1\3FUSQ%X+MI;O6-,1+F$1)$P$QCE<[9
M-A/(PHX-<;K'[4OB76OA1X9\*S-#_P 4G?Q7]CJ/S-=*8@PC0DGE4#87/8*.
MU:/BS]KC4/$>D^(%M/"_AC1-6\60-;ZSJEG#)]IO(W(,B@.Y1=Y'S;5^;GO5
M:B.JTS]FC7-4^#5OXHC\>:M'=7&ARZ\+26WN1 (HR0R&Z#%!(=O"G!;/H36/
MKWPVL](^!5MXTC^*FJ3M>,]K;V7V"Y3S+M(U=X"^_@#=C>1@]JQ1^U7K$WPX
MB\)W6FZ?=Z''HO\ 9)MI2^TNLK2QW0Y^69"3R."#R#7)W_Q/O-0^$>G>#VMH
M5L]-U*;4DG&[S6>1 A4\XQ\OUSWZ"GJ![!XI_9-\?>$[GQ1-/KVN#0?#^C?V
MK!JK+((=0811R&%?WAVMEW7//^K)Q7.ZO\*=0\._!'2_%]]X\U))=6A6>"U@
MM[N>$*9-A1[E3Y:RJ 6,9P>,5C:M^T_JVL^-?%VN/I]@LWB_1!HD\0+^7!$(
M8HMZ9/WL0@_,<98U%;_M%S:1\(]0\*Z;X;\/Z7_:MI'97VH0),9[N-&#@LK2
M&/>2.6"@X)QMX-&H'4?%#X6V_@7X<:3KVF_%#5M<G\1AFTBS6PN8&OMDXADR
MS2'85.XX;KC ZU5^._P:\3? S4O#L$WBV\U)-<5HI9H)I-EE=(X2:W)WG<4W
M+R<9!Z#OSNB?M#WFCGX?K)I.FWB?#UIY+-)=VVY:28S!I &_A;!&".G.><WO
M&_[6OB?XG^#GTCQ%%INI;=535K>Y6SCMY+>4 A@!$JA@P/)(+9[TM0.Q^/?[
M-NO?!KPY-?6OCC5-6:UU6/2IX9X+C3]TKJ6'E.[;95P,$J< L*\X^)_A?QY\
M'=4M;3Q%<:M8S7D"7,0-ZQW*RJW8]L[3C W*0,XK3^,O[4>K?&_2+BVUC3[,
MM_:CZG931LYDT[S%59(8R6.8B5#XZY Q@ BN&\7>.]:\?WL-QK6J7VJS6ZM%
M')=2F1U4N7/7U9F-4FP&_P#"<:W_ -!C5/\ P+D_QH_X3C6_^@QJG_@7)_C6
M710!J?\ "<:W_P!!C5/_  +D_P :/^$XUO\ Z#&J?^!<G^-9=% &I_PG&M_]
M!C5/_ N3_&C_ (3C6_\ H,:I_P"!<G^-9=% &I_PG&M_]!C5/_ N3_&C_A.-
M;_Z#&J?^!<G^-9=% &I_PG&M_P#08U3_ ,"Y/\:7_A.=:'_,8U0]_P#C[D_Q
MK*HH _0__@EQJEUJWP"U22[NKBZD76I5#S2,Y \F'C+'-?3-?,/_  2B_P"3
M?-6_[#DO_HF&OIZL9;EQV"BBBI&"C K,\1:[9^&=&NM0OKB&UL[&)IYYI#M6
M)%!+,3Z  UIU\<_\%8_B])HW@S0_!MG,Z3:Q*;V]5'*[H(_E1&]5:0D_6(5M
MAJ+JU5!=3GQ594Z;DSXK^)WCNZ^)?Q UC7;V:6XGU.[EGW.Q;:K,2JC/10I
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MY0YC@+R\FU"\FGN)#)-,[/(^?OL3DG\3GIWJ*O1/^$J^%_\ T)GC#_PIX?\
MY#H_X2KX7_\ 0F>,/_"GA_\ D.CE%='G=%>B?\)5\+_^A,\8?^%/#_\ (='_
M  E7PO\ ^A,\8?\ A3P__(=%F%T>=T5Z)_PE7PO_ .A,\8?^%/#_ /(='_"5
M?"__ *$SQA_X4\/_ ,AT6871YW17HG_"5?"__H3/&'_A3P__ "'1_P )5\+_
M /H3/&'_ (4\/_R'3LPNCSN@_<_&O1/^$J^%_P#T)GC#_P *>'_Y#II\4_#
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MV;)F$4C*&$JKP&*%@6/86/Q*\0:3H7]FV>FZ)':XB4"2<S,@C01H%W0X4!
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M%+*1M(QGK70?$+Q18_%7]KZS@\0:YH[> O!MG!KDV[R1&=MK"[HOEKNE9YB
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MA_\ ]"+X-_\ !+;?_$4?\,[?#_\ Z$7P;_X);;_XBNRS1F@#C?\ AG;X?_\
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M_J;C/YH_>_\ (/[8I=G^'^9_3>"*,CM7\R)_X+T?M8?]%:O/_!-IW_QBAO\
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M;>5:P3K:7,4I7G@D+@X5<<C.2.M9]MXF\+:_J4%O:W&MV4EPX15FTV6=5)(
M!=0&/7'W*H#P;>3^%&9-=UYUM[@NY'V?;""JC)'E=&) Y]*T_A/X:L;'QU8W
M6N>*O$%G8V;B=GCAAD<LI! 55C'S=2 2%R!D@5G4Y5%M/\_R*C*[2DCZ$^'O
MQE^'?[*FJ37EQINH>,OB%=1J]C"NC7*QZ&!&OEH5=,F0\$L #@  CG/T=\!/
MBOK'Q.T=M<^(W]J6?VH%+;1H?#M\JPH"/F8^42"V!QDYSZ8%3?LZ?LS^&=9\
M/6/CCPWXG\:03:U&9$NKE=.DNB Q7DM;-M)QV->A:';:QX,^.NBZ3-XIU[7-
M-U30=2NY8-0CM0J2P7.G+&ZF*&-@=MQ*,$D'/L*^/QF(A*32WZWW_P" ?486
MBXI-O3HEL=!'\<?#<:JJG6E51P!H-]C'_?FA_CIX=+9W:UT[Z%??_&:[*(82
MA^%KS>9'H&;X<UVU\5:1;WUC)YUG=()(GVE=RGV/(^A (K4KE_@T<_#72?\
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MCO/_ (Y1_P ->?%C_HJ'Q#_\*.\_^.5YW13^HT/Y5]P>WGW/1/\ AKSXL?\
M14/B'_X4=Y_\<H_X:\^+'_14/B'_ .%'>?\ QRO.Z*7U+#_RK[@]O4[GHG_#
M7GQ8_P"BH?$/_P *.\_^.4?\->?%C_HJ'Q#_ /"CO/\ XY7G=%/ZEA_Y5]P>
MWGW/1/\ AKSXL?\ 14/B'_X4=Y_\<H_X:\^+'_14/B'_ .%'>?\ QRO.Z*/[
M/H?RK[@]O/N>B?\ #7GQ8_Z*A\0__"CO/_CE(W[7GQ8_Z*A\1/3_ )&.\_\
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M#_8%/2TFE9)[:VVOI^1M]<=]4NMOF?H%\ -?^$/[=?\ P3Q\#?!'QE\5-/\
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M;F:T]#9HHHK0S"BBC//^>: +T_EGPFL+A66ZN"9%8 JP50 /_'V[&N9_9?\
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M2'_1%?B+_P"":;_"OI/[4PO\\?O1Y?L:G\K^X\ HKW__ (=3_M(?]$5^(O\
MX)IO\*7_ (=2_M)?]$3^(W_@FF_PJO[3PO\ S\C]Z#ZO5?V7]Q\_T5[]_P .
MJ/VD/^B)_$;_ ,$LW^%+_P .I_VD/^B*_$7_ ,$TW^%']I87_GY'[T'U>JOL
MO[CP"BO?_P#AU/\ M(?]$5^(O_@FF_PI?^'4O[27_1$_B-_X)IO\*G^U,+_/
M'[T'U>J_LO[CY_HKW[_AU1^TA_T1/XC?^"6;_"G?\.IOVD?^B*?$;_P33?X4
M?VIA?YX_>@^KU>S^X^?Z*^@/^'4W[2/_ $13XC?^":;_  H_X=3?M(_]$4^(
MW_@FF_PH_M3"_P \?O0?5ZO9_<?/]%?0'_#J;]I'_HBGQ&_\$TW^%'_#J;]I
M'_HBGQ&_\$TW^%']J87^>/WH/J]7L_N/G^BOH#_AU-^TC_T13XC?^":;_"C_
M (=3?M(_]$4^(W_@FF_PH_M3"_SQ^]!]7J]G]Q\_T5] ?\.IOVD?^B*?$;_P
M33?X4?\ #J;]I'_HBGQ&_P#!--_A2_M3"_SQ^]!]7J]G]Q\_T5] ?\.I?VDO
M^B)_$;_P33?X4?\ #J;]I+'_ "1'XC>V=&FQ_*L<1F6&<':<?O1I3P]6^J?W
M']07P+_Y(GX1_P"P-:?^B4KJJY?X/:=<:-\*?#-G=0R6]U:Z5:Q31N,-&ZPH
M&4CU!!!]ZZBOR"I\;]3ZRG\",#XIG'PQ\1-_U#+G_P!%-7\>3'+-]?\ "O[&
M/%=U)8^&KZ:+_60VTCKE=PR$)''3\^*_-_P%^TQ\4_BAXPL]!T-=#OM6U!F%
MO!_9%A'YA5"Y&YT"CY5)R2,XZ]C[>2YM]24K*_-;KV./&87VUM=O(_ >BOZ$
MO%7Q5^-O@KQEI?A_4--TF'5-:9(]/C71].FCNV8A0$E1#&<,0#\W'?%0V7QH
M^,VH?%5O!,-GHI\41S20&Q.E:<N'1&=AYC+Y>-H)!+8(Z$U]''C![<GX_P#
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M\:JO]<7_ "_C_P  /['\_P /^"?@_17[P?\ #:WCS_GYT/\ \$=G_P#&J/\
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M;^&-8U[_ (23POJ&@>'[2[O=6U'2=7M]6@TU+:![B=)3:R2[9DC1B83^]^Z
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M_P"N;?\ H;5U%<K-\&_"-Q-))+X5\-R22,7=FTV%F9B<DDE<G)IW_"E/!O\
MT*/AG_P5P?\ Q- '3[A1N%<O_P *2\&_]"GX:_\ !7!_\31_PI+P;_T*?AK_
M ,%<'_Q-&G<#J-PHW"N7_P"%)>#?^A3\-?\ @K@_^)H_X4EX-_Z%/PU_X*X/
M_B:-.X'4;A1N%<O_ ,*2\&_]"GX:_P#!7!_\31_PI+P;_P!"GX:_\%<'_P 3
M1IW ZC<*-PKE_P#A27@W_H4_#7_@K@_^)H_X4EX-_P"A3\-?^"N#_P")HT[@
M=1N%)\M<Q_PI+P;_ -"GX:_\%<'_ ,31_P *4\&K_P REX9_\%<'_P 31IW
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M[ <^E4O%'CVX\"I"VM_!+PKHZW!(A-[IVIVPE(QNQOG&<9'N 10!X[17I?\
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M3J?_ ,D4?\*5T?\ Y_/%G_A4ZG_\D4<L0.NHKD?^%*Z/_P _GBS_ ,*G4_\
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M$5HVFD9MQ8!G#*,<>IKSW]IWXGZ7\4?$FB7FBS-%I=KI%O;0Z6T!B&BLH8O
MK8/F*&+,'/)#X. !34F/3H-_X:[^(@_YF)O_  !MO_C=)_PUW\1/^AB/_@#;
M?_&Z\V4Y7_/_ .K\J*=V(])_X:[^(G_0Q'_P!MO_ (W1_P -=_$3_H8C_P"
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M@+AP,IPF-^>QD\.?&#0_!_[9FAZA8^-M2N?#YL5CU6ZN-3N+BU$JV\P\I9)
MKR1*Q7:6&<DGO7E7_"<?"W_HGWB7_P *M?\ Y$H_X3CX6_\ 1/O$O_A5K_\
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M#/=2S_ZQF9=Q;:>@)ZX'Y#\*T/!7A=O''BJRTF.YAM)M0?R(9)R?+,C A%.
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M)<-\DS8W[E^8Y^>21<GG;&G:D^R_"K_G_P#B#_X 6?\ \>H^R_"K_G_^(/\
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M&Z-?K3:U,^;R#[G_ -:G!-P^\%^O_P"JD7'^U^ I<+_M?E02'EC_ )Z+^O\
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M",OV0#!]!FCF#E9X3_PN#X??]$DTW_PH+[_XJC_A<'P^_P"B2:;_ .%!??\
MQ5=M\._CCKOAS]E'Q?#'?:;'>:+J5I96"R6%I)(L,K3><O*$OD_Q'<0,8(KL
MM-^'7A5_V;E^&[:UX=_X2Z\TL^(51E?[4-0.)DBWX\H*+=?+(WYW$G X%','
M*SQ?_A<'P^_Z))IO_A07W_Q5'_"X/A]_T233?_"@OO\ XJO7OA!)H_\ PN#X
M _:/[/6W7P_="[\PIMW8N\>9G&">.O3BOF_XA_#O5OA?XB_LW68X8;QHUGQ!
M<13_ "MG!W(2,\'CK^=-,1V7_"X/A]_T233?_"@OO_BJ/^%P?#[_ *))IO\
MX4%]_P#%5Y>>O^?\_3VQ13 ]0_X7!\/O^B2:;_X4%]_\51_PN#X??]$DTW_P
MH+[_ .*KR^B@#U#_ (7!\/O^B2:;_P"%!??_ !5'_"X/A]_T233?_"@OO_BJ
M\OHH ]0_X7!\/O\ HDFF_P#A07W_ ,51_P +@^'W_1)--_\ "@OO_BJ\OHH
M]0_X7!\/O^B2:;_X4%]_\51_PN#X??\ 1)--_P#"@OO_ (JO+Z* /4/^%P?#
M[_HDFF_^%!??_%4#XO\ P_;_ )I+I_IQK]\3_P"AUY?0#\_X4 ?LMX;MX[;0
M+&&&-H88[>-8TW%MBA1@9//'3GFM*JNB?\@>U_ZXI_Z"*M5SFAE^-O\ D3M6
M_P"O*;_T U^4O[-FI:'9_&/1X/$EC9W^AZG*=/NUN%!$*RC8)5)'RLC$-N[
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MX6E;?CX?O?\ "C7J%T>;CI_GFBO2/^%7_#__ **E:_\ A/WG^%'_  J_X?\
M_14K7_PG[S_"@5T>;T5Z1_PJ_P"'_P#T5*U_\)^\_P */^%7_#__ **E:_\
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MICMJ$O(S?&/_ "*FJ?\ 7G-_Z :M:/\ \@FU_P"N2_R%5?&/_(J:I_UYS?\
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M_%[_ *$?X<_^%S>__*FC_A*?B]_T(_PY_P#"YO?_ )4T<K"Z/2/,H\RO-_\
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M^$"5V;4K?Q1XM%G%?).P34=,D\@Q, "-K%9&!( (;(SQ70?&7]FKP#X5\?\
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M:EH\.H6^J+IMPUN;J 8CG9>"R\G*YZ$$YZ]\5CUZ5_PS:W_0]?#7_P '@_\
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MMY4 /\*[B3C\:YOQ\V/ .M?]>$__ *+:M2P_X\H_]P?RJ7%6N5S.UC/\7?\
M(*C_ .ORT_\ 2F*HO&O_ !YZ?_V$;;_T8*E\7#=I</&?].L^ .3_ *3%_P#6
MJ/QO&T":>K!E:/4K=6!ZC]X!6JV1)L4444NH!\-?"_\ ;EYXRNY+JWMK?3;@
M2MNGB261_LD&Q41W4OEASMW8&>"<*W/^->/$'A7_ +"S?^DES5CPW_R&?$'_
M &$$_P#26WJOXV_Y#_A7_L*M_P"D=S3C?G*D=!110IY_SQ6>I(%OP]_3_/\
MA7U%^Q9^PY<?$3Q+'K'BK3;Q?#MJL%W9WEM?(L%ZV%;RL;2TBG(#.C(%,;+R
M3\O'_L5?LUK^T5XGN(6;4M-_L.2.\_M.*!+BW)##$#H^!N;!93R.&W*1T_3G
M2[./3K".&&-(885"(B*%55'   X'X<5X&:9@X?NJ>_4]K*\OYU[2IMT)XH_+
MB7:NU?3TJ2.A6Q3J^;/IME8**** "BBB@ HHHH **** "BBB@ HHHH ****
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M_)-']EXW_GV_N#ZU0_F1Z-;_ /!)O4K*=I8?B%'#-@J732F4D'@])L\TU/\
M@DA>0,LB_$"WC92""-*8;2.F#YU>=_\ $49^SK_T!_B=_P""BV_^2:3_ (BC
M?V=?^@/\3O\ P46W_P DT?V9C/\ GV_N#ZU0_F1Z:O\ P2HUI95D7XD,LBNT
MP8::X(=AACGSNI'&1Z"H[3_@DUJ>G,[0?$186D4QN8]+=2ZGKG$W->;?\11O
M[.O_ $!_B=_X*+;_ .2:7_B*,_9U_P"@/\3O_!1;?_)-']FXS_GV_N#ZU0_F
M1Z-:_P#!)?4-.G6:'X@1PS)]V1-*=67Z8FS3HO\ @DSJ4+R,GQ"C1IE*R%=+
M<&0'D@_ON?QKS?\ XBC/V=_^@/\ $S_P4VW_ ,DT?\11G[.__0'^)G_@IMO_
M ))H_LW&?\^W]Q/URA_,CT@_\$F]2>*&-OB$K1VY)A0Z8^(LG)V_ON.>>*=)
M_P $H]6E-QN^(RG[41Y^=,<^:1R-W[[GDYY]:\U_XBC/V=_^@/\ $S_P4VW_
M ,DT?\11G[.__0'^)G_@IMO_ ))H_LW&?\^W]P?7*'\R/3(O^"4NL6\<<:_$
M9ECA1D15TUP%5OO*/WW .!P*;'_P2CU:$V^WXC!?LI)@QICKY1/)*_OOES[5
MYK_Q%&?L[_\ 0'^)G_@IMO\ Y)H_XBC/V=_^@/\ $S_P4VW_ ,DT?V;C/^?;
M^X/KE#^9'HC_ /!(^^N7:23Q];O)(=S,VDL2Q/<_OJ/^'0]W_P!#Y:_^"=O_
M (]7G/\ Q%%_L[_] ?XF?^"FV_\ DFE_XBC?V=?^@/\ $[_P46W_ ,DT?V7C
M?^?;^XKZU0_F1Z+_ ,.A[O\ Z'RU_P#!.W_QZC_AT/=_]#Y:_P#@G;_X]7G7
M_$4;^SK_ - ?XG?^"BV_^2:/^(HW]G7_ * _Q._\%%M_\DT?V7C?^?;^X/K5
M#^9'HO\ PZ'N_P#H?+7_ ,$[?_'J;_PZ+O$/_(^6Y_[A!_\ CW^<5YV?^#HS
M]G5A_P @?XG?^">V_P#DFIM%_P"#G+]GG6]7M;.'2/B4LUU*L2;M(MP-S, ,
MD7'3G_ZU3++<6E=P?W!]8HO121^BUC;?9;*&'.[RU"Y]<#&:L5';',7\O:I*
M\\ZC+\;?\B=JW_7E-_Z :_*_]E#X=Z7\6/V@?#OA_6H9)],U*699T20QLP6"
M1Q\PY'S*.E?JEXJMI+WPSJ,,:^9)-;2QHHZL2A 'ZU^:?@W]D_XU?#OQ-:ZU
MHOAG5K#4[)BT%Q&\!*94J2!N[J6[=ZJ),C4UCX ^&_"OQT^'/@:6SN=0CU:2
MUFU+61<,(=6CN""!; ':(E!*[_O,<],$$^(?@WX:^"?C;HNEWFFZ:GANZ$UM
M?3:/XE?5)+0EMB3,57Y'0C)C(;*D\9Q18? 'X_:78:#;PZ#K0C\+SFYTK+V[
M-8R%MQ,9+$@$X)7IQTXJ3XE_ W]H+XQ2V+>)M%US6'TW>;9I6MU\G?M+8P0.
M=B]NU4KDE'Q7\(? 'P^^.WAWP+K%QJ#1:2K?\)+JMJLC?:)F1I42- &*QJ-B
MEPI8AF..*W/#OPD\%K^TOX?\,ZIX-GCTGQ=9V\NG^1XB-U"%<R?Z1'*B*71@
MF-C88$'GD"LM?V?OC]%\0Y/%D>BZ]'XCD<R-?QSPI(Y*A#DJPX*\8P<BIM3^
M!/[0FM?$&U\576DZ]<>(+$K]GO9IH6>';G 4;MH R>  .35<S JZ'X#\ ZMX
M?\:>-I/#.KOHOAFXM]/@T&VU)F9Y)"P:>:?:66/"\ #EN,UN>'OV</!NI?&_
MP+YEGK$/A?QEH=SK$NDW4V+RR,4,S8$B[=REDRC$?,!R:Q? O[.WQ\^&&N3:
MEX?T7Q!I-Y= ^=)!<0CS@3G#*7VMR?XA4S_ ;]H*;QT?$\FD^()M>\MXOMLT
M\,D@C="C(-S$8V,P[#FI T/$_P"RGX?\):7X/N TFI6?BKQG!965ZLY O=*G
M2)X^.-KC>P;@$,".E9/[2'P+T'3_ (J:+X5\&VN@VMY?:A<V&8/$9U)V=9$2
M,3IMS;OG(V\\EA_#FG6_[//Q\M?#^BZ7'H>N+I_AV\^WZ; TL#+:3;BV]<L3
MU)..F2:N?$KX-_M$?%N"Q7Q'I.NZHNFNTEMYDELGDL0,D;6'8#GVJH@>0_&7
MX37GP3\?7?A^^NK.\FML2+-;/N26-^8W]/F3#8!.,@5RM>M3?L1_%J[<-)X/
MU21E4("T\384# '+]A@?@/2F_P###7Q8_P"A+U'_ +^P_P#Q=.Z \GHKUC_A
MAKXL?]"7J/\ W]A_^+H_X8:^+'_0EZC_ -_8?_BZ+H#R>BO6/^&&OBQ_T)>H
M_P#?V'_XNC_AAKXL?]"7J/\ W]A_^+HN@/)Z*]8_X8:^+'_0EZC_ -_8?_BZ
M/^&&OBQ_T)>H_P#?V'_XNBZ \GHKUC_AAKXL?]"7J/\ W]A_^+H_X8:^+'_0
MEZC_ -_8?_BZ+H#R>BO6/^&&OBQ_T)>H_P#?V'_XN@?L-?%C/_(EZB.?^>L/
M_P 72T ^J/\ @DS_ ,D-U[_L-M_Z(BKZHKYY_P""='PH\1?"+X3:Q8^)-+FT
MF\N-5:>.*5E+,GE1KGY21U!'7M7T-6<MRX[!1114C"BBB@ HHHH **** "FL
MFX].U.HH S[O1K/4?EFL[>;(_CB#<?B*_/']LC]CGXB:)XNUKQ%#"WB+0;R[
M>Z4:<A!LE8_*IMQG:%7C*AA@9)&:_1M2V:1EW'YJZ,+C*E&7,CCQ&#A6C;8_
M$Q@48J>N>>,4E?J+\??V%_!/QWCFNIK/^Q=>8,RZC8(%9F]98_NR<X/9N,!A
M7Q%\?/V%_''P(::ZDLQKFAQC=_:-BA=8Q_TT3[R8]<%>?O'FOJ,+FM*KH]'Y
MGSN(RVK3=UL>+T4=O\_SHKU-U<\[;0****!!2YRGU]J2G%L*OUH ;1110 44
M44 %%%% !1103@4 *V<\TE.D;<U-H **** "BBB@ HHHH 579#E3CJ/KV-27
M-_/>B/SII9O)011[W+;$'0#/;V'J:BHH *S]8_Y"FD_]?+?^BI*T*S]7_P"0
MOI/_ %\/_P"B9*J.Y43H/#^DV^L2LMQJUCI2KCY[I9V5_IY4;GCN2!QTSTKE
M] CCA\7^,$AF%Q"NKJ$E";!(!96O(7JOT/(K8K#\'LR^(O%)W;?^)HG_ *16
MM2'0W*7;]?RH+DKC)(_G24$F;XP4GPEJOWO^/27K_N&KFE_\@FW_ .N:]/\
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MKU/[$H/^/:/Z5-4,'_'M']*FK\0/M(_"@HHHH*"BBB@ HHHH **** "BBB@
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M8[",U]W \&O@\=1=*O*/S/M,#652BI(DHHHKG.P**** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ IK=#3J:W0T ?CW_P ':?\ R)_P1_Z_-8_] LJ_
M%6OVJ_X.T_\ D3_@C_U^:Q_Z!95^*M?J7"O^XKU?YGRN9?QV%%%%?3'"%%%%
M 'T!_P $L/AI+\7?^"B_P;T..%;A6\3VM],A&08;9C<R_P#D.%C^%?J-^SW_
M ,$K_ACX4_X*#:U\7/[8T>X^%?Q C>'X>0F2-H[G6-1BNUN;4(!D?95BN=J$
M?*)(QG=$V/QU_9O_ &D/%W[)GQ;T_P =>!=0ATOQ-I,<T=K=2VD5TL(EC:*3
MY)59<E&8<CO6QX*_;5^)GP]T[P#8Z7XFNH[7X9ZY-XA\.PR1I(EE>S,CR.=P
M^=2T>=KY WR<#>V?FLTP.-KU>>A+EC:WZ_Y'H8;$4Z<??CJ?2W_!.SPA<>$?
MV4_VVM)U2U\G4M%\(164\<B@O!+'=3(ZY]0RD?A7IGP+_:D\>?L>_P#!"7P;
MXJ^&^H0Z?X@U'XNRZ3,7TZ"^^V6[V5Q(8"DJ.,,\4?*@-Q@'GGXALOVV/B)8
M77Q6FAU:UCD^-7FGQ9C3X-NH>9.\[[!L_=9DD<_N]N-V.U=Q^S%_P5?^.'[(
M/PH7P3X!\3:?I6@QWLFI10SZ)9WLD4\@ 9PTL;G/ '_ZS7-B,KQ<XNUFVT[/
MR6O0JGB(*2Z*S_,^ROBSJOA7]E7_ (++?L_^+)_#>F^#9/BAX5TVY\<:!;0>
M1:Z7>ZJMQ9W&Z-O]6 7C=D/.4+?>))]Z^$G[!_P1\'>(? _P1AUS1?\ A97[
M.OB&W^*/B3498\+?6LTSO/"7/0QP1::7!& HAZDOC\4OB3\9/%7QA^)5YXP\
M5:]J6N^)M1G%S<:C>3%YGD!!7!Z*JX "KPH"@!0 *W[[]K'X@:E\8?%GCZ3Q
M)>?\)5XXM[^SUN\1547L%[$\,\1C VA#&Y"J%^3:I7:54A3R'$344IV:6OKT
M_ J.*C&[:6]_D?H=_P $<_C=_P +9_:>_:]^)-YXB7P>VJ^%M5UY/$$VF_VB
MOAM&G>5+D6W_ "V6W3:PB'WA"%P*\A/[86BV?_!7#P'XZ\:>.IOVE/"OA.W6
M%=8L?!J:7*R&VG8,FG[1N:UGE,N6R3Y6<\#'S+^R/^W#\1OV&O$FM:O\.=8L
M]'O-?LQ87S7&GP7T<T(?>%V2JP'S#L.>16UXY_X*1_&#Q[^TEX=^+EQXDM[/
MQ]X5MQ:Z9J%CI5I;+!&/-RK0I&(GW":13O5MP;!XJ_['Q,:TW=-.-EKY>FGW
MF?UB'(N][_UK^A].?\%5_'?Q*\':_P#!'XX:+\2O#OQ%\+W4E[>>"/&%MX8M
M]+U2.2*6-G@OH#&%<PL-J;EQQ+E5).;W_!=;]K;X@>*-!^#/@N\UJ.3PWXN^
M&/A[QAJUHNGVT7VK597NQ)<;UC$B9VK\J,$&W[H[_'/[5W[<GQ._;8UK1[WX
MC>)&UHZ! ]MIMO#9065K9JY#2%(841-S$+N8@L<*,X4 8/QY_:2\7?M)WWAF
MX\8:A%J4G@_P_:^%]**6T<'D:?;&0PQ$1J-Q'F/\S98YZXQ6F%RO$1E2E5L^
M6]_TZ:DU,0GS<O6QP8;C_P"M1117U'J<(4444 %;'P^_Y'S0_P#L(0?^C%K'
MK8^'W_(^:'_V$(/_ $8M<N,_@2]&53^->I_8E!_Q[1_2IJA@_P"/:/Z5-7XB
M?:1^%!11104%%%% !1110 4444 %%%% !1110 4444 %%%% !]X4UTRM-W<?
MCC/2O/O&?[1?A7P%K-O8ZEJ&UKA3)YD*^<J ;E^;;D@[D*]#[XYQ4:<I:)7)
ME-15Y.QT=K\0=%U'6)M-M]4L9+ZW+B2#S0'0I]X8]1W].M;P)=/PZU\P_M+_
M !O\%^./ 4T>BR1W&KW$Z%;E+0QR* HW;F(#8*L5Z'/(QWKD_ ?[9GB3PHFE
MVMU'9WVGZ;#Y)C"!)9U& I9^?F51@$ 9SSN-='U&<H\T;^AQO'0C+E?WGV;]
MU:6O M-_;M\/W&CWD]U8:A;W$;A;:U7#_:%*C#%^BX;(.>P!&>16U:_M6Z2;
MOPS;KF_DUQ93<-9JTC0,ORKB+[^&;IN .W!(SD#&6'J+5HZ(XBG+9GL=%-0_
M(/I3JS-@IF=H:G)]VO,OVG/BA'\,_AO=-Y<K76K"2QMS&VWRV=&_>$]MHY]^
M/PJG%RDHHFI+EBV.^#'[0=C\9=<URUM[:2W_ +-=3"S?\M8C\N2<]=P)QQPR
M]\UZ6HP*^-OV+/&+:%\4FT__ $58]:BV2/*Q5@4#,JQ]BQ/8^E?95;8JC[.?
M*C'#UG4C=A1117.= 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !
M5#5-.@UFQFM;B)+BVN(VBEC==RR*P(*D'J""015^FLOY4>:"R>C/S=_;9_88
MO/@KJ4WB#PK8W%UX1F^=XT+32::>^\X/[K)^5B21_$1U/S77[8S*LPVL-RL,
M$8X.:_-+_@HW\"(/A-\8X=1TG35T_0_$%LLR"&,+!'<KD2(JCA> K8' W<<5
M])E>92G^ZJ;]SYO,LO4/WD-NQ\]T445] MCQ=PHHHH)"BBB@ HHHH **** "
MBBB@ HM/"M_XNU_3;?3;=KRZ25Y!;Q_-+*!#)G8@^9B!EB!D@*3P :*;9^([
MWPAXR\/ZGITS6][8WIEAD"JVUA%)C(8$$=B"",'D&C7H5&U]2QI^H7&D7\-U
M:SS6MU;N)898G,<D3@@A@P.5;/3!X/M4^I_%V_\ B/J7B*&\L]+MY(=<-[+/
M:VPBDNIY-.L%=VVG +>5N(4*I9G;'(JM>7;7]Y+<2;/,F<R-L0(N2<G ' 'H
M   .,5SOA+_D8?%7_843_P!([6CEBU=CC)JZ1V'BWQ;J7CC7IM4U:\EU#4+@
M()9Y,;Y-J!!G'7"J!GOCG)Y.;2O]ZDI15M$2]=S-\7G/A+5/^O27_P! -7-*
M;_B5VW_7)?Y"J?C'_D4=4][.8?\ CA_S_C737/PVUKPWX0TW4[JPN/[+O;:"
M2*]C7S+=_-CWJH<?+OX8$=59&!Y!I\R6C'&,FKF;O8=/TK)TW=_PEFJ9_P">
M4/\ [/74>#?$=OX3\2VNH7&EZ?K4-N6+V5Z',$V01\VPAN"V>".0/I7O&K?M
M1_"'Q'''H<7P^D6&SBT^"-[^/<FFQ@R^<ZO%*)9CM9CC<FY@,]!7+6Q$X.RC
M<VHTXR5W(^?=$T.\\2ZK!8Z?:7%]>W3B.&W@C,DDK'H%4<FO3#^Q5\3H9[=9
MO"MW;_:(Q(#+<0IM4MM).7R"#RP/*CDX%?67[#>N>!- \<WWAWP3H=]J5N^G
MP33^*/+D=;R<(&>)P1B#'F8"@XXP23BOI&+39+O7;[[5;V\T,?E_9)&A7<H*
MG>N>_(SV^]7CXC.)QERQC;UW/8PV50G&\I'YY>-OV,[JP_8Q^)5C=6>GW/BS
M2;RXN+>_LH7O(IK>&S;?"DT2$Q_,9 5D*@,J@@$5O>!/^"5'B;Q%X/T2XOM8
MT_1[JXA6:[24--) &"XC"*H&Y?FR=Y!R!@8W-]K_ +1(Q\ ?'/3_ )%^_P"G
M_7M)75Z&,:9:_P#7)?Y5Y_\ :==1;B]W^AV1RVC=)K8^1_$?_!+_ .'_ (0\
M&6;ZA<:UK5U)JNEP222W A0[]0MT<JL8!&0QX+-5?XU?\$ROA[8)X;N+%M6A
MW:]80RP2W1EAG5I@&!QM<'!."K#! .#W^G_C-_R*=G_V'-(_].5K5/XX_P#(
M,\-_]C)IO_I0M8QQU?F3YCH^HT+6Y3\Y?VN/V1]4_9K\21S+NO/#]\3]GO3M
M0>8228PF]G 5=O+=?4UD? #]E/Q1\?\ Q#;V]C;MIMBZF0ZA=Q.(PH[J "9.
M<#(^4$@,1D9_43QS\--#^)$5O'K5BM\EJ6,(9F7RRPQN&TCYA@$'JI (P1FI
MO"O@C3?!L#0Z?;LO 4R22-+(0/NJ78EMH[#H/SKN6<3]ER6U[G#_ &1'VG-T
M/GOX9?L-_#G5[#QEHNI>%]-CFL]8MD,]I-*LR2?V5I[-ME)\PJ79R Q.<YQG
MI\<_MX?L9ZI^S5XM\,ZA'=0W?AG4/$3V^G2F4M<J/L-TP$ORA01AAD'GVK]-
M/A?\_C3XB?\ 8Q1?^FK3JP/VB-&M=?\ %7PQL;ZWCNK.[\431312)N256T75
M 5(]#D_Y-<^%S"K2J7;NNQU8C+Z<X62U/R<H_B_G_G_/Y"OLK]K'_@G!I/@?
MP-JWB;PC>74$EC*]U/97MP@MXK;KB-FP=RD<;G);..H&?C6OJ,+BJ=>-XGS&
M(P\Z#49G4:9=ZA\(];\-^(M'UBR:^9%O[9[60NUG(KLIBE4@88%>5Y5E8=0>
M/U$_9K_:&TO]H[X;6>M:>RQW2@17]INRUG.!RI_V3U5NX([YQ^4+>';U?#T>
MK-;R?V;)<-:+/CY#*%5RGU *G\:Z[]GK]H77/V=/'D.L:/)YT+ 1WMC(Y6&]
MCST;_:'56_A/KD@\>98%5H<R^)'7E^+=&=G\+/UZ3[OUYYH*9-8G@+Q7#XY\
M&:3K=K'-';:M:17D23+MD1)%#@,/4 UN*VZOD=4VF?5QE=70M%%% PHHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH ***;)0!^//_!VB?\ BD/@A_U^:R/_
M !RRK\5Z_H[_ ."VO[)'P[_:NT;X=V_Q \7>)O"L>C2ZA)8MI&G1WAN3(+82
M!]Y&W;M3&.N37P(?^"._[./_ $5[XF?AX>MS_P"S5]OD.>8?#854JCUN^GF>
M'CL'4J5.:)^7]%?J!_PYW_9O_P"BP?$S_P )VW_^+I/^'._[./\ T5[XF_\
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M_9Q_Z*]\3?\ PG;?_P"+H_UIP?=_<P_L^KV_$_,"MCX>_P#)0-#_ .PA;_\
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MFRZT^^W2:?>HWR72 C.1_"RY&1^/(()]#+\R5?W9:2['GX[+W0]Z.J[GF]%
M.117K'FA1110 4444 %9^K_\A72?^OA__1,E:%1VVAW'B?QIX;TVS56N]1U
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M7P"T:'7;-U^)W@21EF0A%>\RYW#@?N>M*6P'ZH44V$$)S3JP- HHHH ****
M"BBB@ HHHH ****3V ;YE-9@@_&O)?CI^T[I?PPUFWTF!FNM2::(W7E;2+:'
M>-P8D\.5S@8/!R<<9\Y_:;^,7B#P'\2Y/[+U*S;3]0M%C>U60S;L*X(D4_<8
M^82 N,@*3R*Z:.%G-HYJV*C Y_\ :-_:(UKQ3>76BR6=UH7DML:V\]9%FADC
M!(E7!&_[I7^[N(QNY'B]3:E=C4+V2;RUC\PEBJ%CR>^6+&H:^BHT53BHQ/!K
M5'4=V6M"U9]!UNUOHU5I+.59HPPRNY3D9[D9QD>E377BN]NM8O-0^T3+<7Q)
MD<R%F )X&X]0..:SZ*T<4WJ1&32L6=9U:XUW5KJ]NI&DNKR1III",;F8DDX^
MI-5J**(Q2V"4FPHHHJN:Q)O?#[XDZS\,-<74-&NY+:8_?3&Z.9?[K*>&'7Z'
MI@\U]I?"?XZZ+\6-+BDLYHX;IEP]I*ZK,' !?"YW%1D<XYS7P?4UAJ-QI-Y'
M<VDTMM<0G*2QL5=#Z@BN/%8.-57ZG9A\5*D[/8_27:*6OFOX0?MK:;;^'=/T
MWQ,NH+>PJ(9=0"^<C@?==^=V[&,D Y()]J^CK:X6YMUD1@R2 ,I!SD&OGZU&
M=)VDCVJ-:-17B9_B;78?#7AW4-2N-WDZ?;R7,H49;:BECCWP#BOS_P#'7BVX
M\=^+]0UBZ"^=J$S2D*.%'91]% %?2W[;'QC;P[H*^%[&1EO=6CWW3+_RSM\_
M=^KD$?[JMZU\IU[&5T7&//+J>7F%9.7(N@5J^!;6.^\;:/#(BR1S7T,;*Q 5
MP74$'((P><\8XY!K*J]X7UK_ (1OQ+8:AY$=U]@N8[CR9/NR;6#;3[''-=]:
M_*S@I_$C]'(SB(?2G5F^&=>A\4>'['4K?_4ZA;QW$?J%=0PS^!K0\ROE)73/
MIXNZ'4444%!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%  !
MBL3Q'X,T?Q+<VLVI:5I^H36,BS6TEQ;)*]O(IW*R%@2K C(([UMT47:V"R>X
MU%VKBG 8%%% ",,BO&?VW_@7<?';X$:AIMCYC:II[C4K&)#C[1-&KCRS_O*S
M ?[1![5[*K8Q37Y/=OI54ZCA)370SJTU4BXL_$MD\MRI!#*<$$8(_"BOIK]O
M_P#8ZU#X5>)]0\::7YEYX=UF]>:X55+/ILDAW'>?^>;.6"MVX!Y*U\RU]UA<
M1&M34XGQ>*HRI3<&%%%%=*=CG"M;P7H5GXG\0Q6-]JL.BPSHX2ZFB:2,2;28
MU;;T5F"J6Z*#D@@5GVEHUVXXD6+.'=8R^P=R0/;W_G7W5^RK^QIIZZ9J"M]H
MDL;\6_VJ\O["V^U+(FZ0PP*3*L3*719'R65D*J%8%DXL9BHT(ZG9A</*M))'
M@F@?\$\OB!XCU2SL[?\ L.22XC6:=X[[SHK -@XED164-AE;:K,S*P*Y ./J
M/X(?L)>&_P!GGQ3X5U"9O[>\1-J,O^G3Q;$MA]CN#B),D#D9W$[O0CD5]':3
MI,.B:?#9VZR+;VR+$@>1G;:  ,LV2Q]R23W-9OC)<^+?"/\ V$9O_2.XKY7$
M9E6J^Z]CZ3#Y=2I.Z.@B.#^E<'\&_P#DHOQ8_P"QJ@_],FE5WS-7 _!O_DHO
MQ8_[&J#_ -,FE5PKR/0/0**** .8^-!_XL]XJ_[ ]W_Z(>M7P9_R*&E_]>D7
M_H K*^-'_)'O%G_8'N__ $2]:O@S_D4-+_Z](O\ T 4?9^8&E7*^'?\ DK7B
MC_KTL/\ VO755ROAW_DK7BC_ *]+#_VO0!U5%%% '&_M%_\ )OWCK_L7[_\
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M_$TO_"F_"/\ T*_AS_P6P_\ Q->&>\=+N%&X5S7_  IOPC_T*_AS_P %L/\
M\31_PIOPC_T*_AS_ ,%L/_Q-&G<#I=PHW"N:_P"%-^$?^A7\.?\ @MA_^)H_
MX4WX1_Z%?PY_X+8?_B:-.X'2[A1N%<U_PIOPC_T*_AS_ ,%L/_Q-'_"F_"/_
M $*_AS_P6P__ !-&G<#I=PI:YG_A3?A'_H5_#G_@MA_^)H_X4SX1)_Y%;PV?
M^X;#_P#$T =*R[J%&!7,2_!WPBJ\>%?#?_@LA_\ B:S/V=F/_"JK!?X8KB[B
M4=D5;J554>P4  =@!1TN!W=%%% !1110!Q?[1O\ R;]XZ_[%^^_])Y*[0# K
M-U?3;?6[*ZL;RWAO+2ZB:&:":,21S(X*LK*>"I&00>"#CUK)B^#GA';_ ,BK
MX;]O^)9#_P#$T ?*_P#P5]/^A^ !_MW_ %[?\>U>2_"[]C"U^(OP,L_%3:QJ
MMI<7EK?7.%TOS[.U^R[_ )99 X*[]F!A6Z]\8KV#_@I/\!;G6+7P;_PA?@N:
MZ:-KW[9_8ND%RH(@V>9Y2]#AL9]\5Y;X!\4?&3X=^"])T>Q^%=Y)-H<=U'8:
ME<>&[V2^M/M!)EVMG8,YQRAX XSFM8[:$RMU./\ "7[/GAV'X>^'->\8^+IO
M#H\82RQZ5#:Z:;UECC?RVFF.]=J[B!@ DCGV&QX*_8T%[XT\8:/KFN3PWGA.
M:* VVCV!U"\NUDY$RQ!E<Q*I4L1EN<8SUM> ;_XO>!_".GZ)/\*[OQ%9Z-,\
M^F#6/"MU</ILCG<WE%0OREN2&RN<''2G>$M3^,7AKQAJGB"Z^%]]KVM:M>+J
M'VS5/"US)-:W"D['B9 NP#.-OW< #!%/45T<_P#"SX(>"?&/@[Q-J6I>)O$%
MC-X4!GNTATA&#0F81(RAI =QW E2!MYJ31?V=/"]EH'A^\\4>-+C09?&#.VD
M0Q:4;KRK<2;$FN3YB[%8C[J[C@9SUIMAX5^+FGV?C!&\ ^)ICXX3;J,DF@W8
M=3YPGS'M4!27'H>.  <5T/@?6?C!X,\+:7I,WPKNM>CT%VDTF?5O"MS<3:86
M;<?*?"\;CN 8, 0/04:BNBAX(_8FU#Q(_P 0M-N=4AM?$7@NXAM+6V5=T6JS
M2"1E17)!4LL8V=\L,X/%>?\ QL^$X^$.M:)9?:I+B35-&M-5D#Q>68'F4LT?
M4_=(QGC/M7>6L7QLMK'Q,C>"_%TEYXJU*VU6[OFT*Z%S%/!(TD9C*A54;G(P
M5/  ' YK?'#PW\7/V@/&D>N:W\/?$<-ZEK':'[)H%U'&ZQYPQ# _,=QZ$#T
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M0]B"!WXZ9YKEQ5&-2F[G1AJKA--'Z'4$9%-B;?&IQC(I6;;7R_DSZ06BBBJ
M**** "BBB@ HHHH **** "BBB@ HHHH **,T9H **** "BBB@ HHHH ****
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M^2/>+/\ L#W?_HEZU?!G_(H:7_UZ1?\ H I_8^8&E7*^'?\ DK7BC_KTL/\
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M_P#)%'_"MO"G_08US_PK=0_^2*Z/_A"=%_Z ^F_^ L?^%'_"$Z+_ - ?3?\
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M?^@/IO\ X"Q_X4?\(3HO_0'TW_P%C_PHYO-@<Y_PK;PI_P!!C7/_  K=0_\
MDBC_ (5MX4_Z#&N?^%;J'_R171_\(3HO_0'TW_P%C_PH_P"$)T7_ * ^F_\
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MVC[L#%_X9P\,?WO%'_A5:I_\D4?\,X>&/[WBC_PJM4_^2*VO^%:Z;_SWU_\
M\'E]_P#':/\ A6NF_P#/?7__  >7W_QVCVC[L#%_X9P\,?WO%'_A5:I_\D4?
M\,X>&/[WBC_PJM4_^2*VO^%:Z;_SWU__ ,'E]_\ ':/^%:Z;_P ]]?\ _!Y?
M?_':/:/NP,7_ (9P\,?WO%'_ (56J?\ R11_PSAX8_O>*/\ PJM4_P#DBMK_
M (5KIO\ SWU__P 'E]_\=H_X5KIO_/?7_P#P>7W_ ,=H]H^[ Q?^&</#/][Q
M1_X5.J?_ "10?V</#/\ >\4?^%5JG_R16U_PK73?^>^O_P#@\OO_ ([1_P *
MUTW_ )[Z_P#^#R^_^.T>T?=@8G_#.GA?^]XH_P#"IU3_ .2*/^&</#/KXH_\
M*K5/_DBMO_A6NF_\]]?_ /!Y??\ QVC_ (5KIO\ SWU__P 'E]_\=H]H^[ Q
M?^&</#'][Q1_X56J?_)%'_#.'AC^]XH_\*K5/_DBMK_A6NF_\]]?_P#!Y??_
M !VC_A6NF_\ /?7_ /P>7W_QVCVC[L#%_P"&</#'][Q1_P"%5JG_ ,D4?\,X
M>&/[WBC_ ,*K5/\ Y(K:_P"%:Z;_ ,]]?_\ !Y??_':/^%:Z;_SWU_\ \'E]
M_P#':/:/NP,7_AG#PQ_>\4?^%5JG_P D4?\ #.'AC^]XH_\ "JU3_P"2*VO^
M%:Z;_P ]]?\ _!Y??_':/^%:Z;_SWU__ ,'E]_\ ':/:/NP,7_AG#PQ_>\4?
M^%5JG_R136_9P\,K_'XH_P#"IU3_ .2*W/\ A6NF_P#/?7O_  >WW_QVN?\
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M1D!AG!QGI6'1'S$=Y_PU#\2/^A\\8?\ @WG_ /BJ/^&H?B1_T/GC#_P;S_\
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M $-WC+_P.3_XW1_PI^3_ *&[QE_X')_\;HMYA?R+7_"MKO\ Z&SQ5_W^M_\
MXS2?\*UNO^AL\4_]_;?_ .,U6_X4_)_T-WC+_P #D_\ C='_  I^3_H;O&7_
M (')_P#&Z+>87\BQ_P *VNO^AK\5?]_;?_XS1_PK:Z_Z&OQ5_P!_;?\ ^,U7
M_P"%/R?]#=XR_P# Y/\ XW1_PI^3_H;O&7_@<G_QNBWF%_(M?\*VNO\ H;/%
M7_?VW_\ C-'_  K:[_Z&SQ5_W^M__C-5?^%/R?\ 0W>,O_ Y/_C='_"GY/\
MH;O&7_@<G_QNBWF%_(M?\*VN_P#H;/%7_?ZW_P#C-'_"MKO_ *&SQ5_W^M__
M (S57_A3\G_0W>,O_ Y/_C='_"GY/^AN\9?^!R?_ !NBWF'-Y%K_ (5M=_\
M0V>*O^_UO_\ &:/^%;7?_0V>*O\ O];_ /QFJO\ PI^3_H;O&7_@<G_QNC_A
M3\G_ $-WC+_P.3_XW1;S#F\BU_PK:[_Z&SQ5_P!_K?\ ^,T?\*VN_P#H;/%7
M_?ZW_P#C-5?^%/R?]#=XR_\  Y/_ (W1_P *?D_Z&[QE_P"!R?\ QNBWF'-Y
M%K_A6UW_ -#9XJ_[_6__ ,9H_P"%;7?_ $-GBK_O];__ !FJO_"GY/\ H;O&
M7_@<G_QNC_A3\G_0W>,O_ Y/_C=%O,.;R+7_  K:[_Z&SQ5_W^M__C-'_"MK
MO_H;/%7_ '^M_P#XS57_ (4_)_T-WC+_ ,#D_P#C='_"GY/^AN\9?^!R?_&Z
M+>8<WD6O^%;7?_0V>*O^_P!;_P#QFC_A6UW_ -#9XJ_[_6__ ,9JK_PI^3_H
M;O&7_@<G_P ;H_X4_)_T-WC+_P #D_\ C=%O,.;R+7_"MKO_ *&SQ5_W^M__
M (S1_P *VN_^AL\5?]_K?_XS57_A3\G_ $-WC+_P.3_XW1_PI^3_ *&[QE_X
M')_\;HMYAS>1:_X5M=_]#9XJ_P"_UO\ _&:/^%;7?_0V>*O^_P!;_P#QFJO_
M  I^3_H;O&7_ (')_P#&Z/\ A3\G_0W>,O\ P.3_ .-T6\PYO(M?\*VN_P#H
M;/%7_?ZW_P#C-(?AM=8_Y&SQ5_W]M_\ XS5;_A4$O_0W>,O_  .3_P"-TU_A
M%(/^9M\9'ZWR8_\ 1=!1C_%7P[J7@GX9^(M:L_%'B)KO2=+N;R 2O;LA>.)G
M7</*&5RHR,\CBND^*W_(I6O_ &&=)_\ 3A;5R_BN\N-2_8]U:XNKB:ZNIO"5
MPTLTA!>9C:-EB1QDGGBNJ^+3?\4M:_\ 8:TK_P!.%M4@<_XI_P"3N_ __8H>
M(?\ TMT.K7A0_P#&1?C/_L":-_Z-U"JOBD_\9<>"/^Q0\0_^ENAUI:_\(;76
MO%]UK<.K:]I5]>6L%I<&QNA&DD<+2LF5*D9!E?G&>15774#M'.3BC/\ G-<6
MGPAD=?\ D;?&0]OMR?\ QNG'X/R#_F;O&/\ X')_\;J;+HP.RW?YS1N_SFN-
M_P"%12?]#=XR_P# ]/\ XW1_PJ*3_H;O&7_@>G_QN@#LMW^<T;O\YKC?^%12
M?]#=XR_\#T_^-T?\*BD_Z&[QE_X'I_\ &Z .RW?YS3JXO_A44G_0W>,O_ ]/
M_C= ^$$A'_(W>,O_  /3_P"-TM.X'@/_  4Z^*.J?#:U\%_V;'I<GVQKWS?M
MNF6][C:(,;?.1MOWCG;C/&>U> :'K_Q<\3>!O^$DTWPII%]HH5W^U0>%M/D7
M"$AS@0[N,'.%XY[5Z+_P5,\'-X4M_ [-K&M:IYS7V!?S+*(L?9_NX48)SWSG
M%>;Z7^U7_P *X^ '@[1?#L>DS>(+!-2AO+FYL#)<Z<L[G;Y$AX!="V<;NU;1
MVT(=KF3'\8?B'+X%D\3)HOA^308;G[&]\/"^G^6LVT,%8^3P<$<XQG ZUK>#
MO$OQ=^(6@2ZIH?@_3=4TV#(-Q#X0L61L'D+^Y&X^H&2#UKLM$_:!^&.G?"6V
M^&\D^L#2;K09+:ZU1$/V1+^3%PTWD!/-=EG1%4]-N!C&37.^$OC!X,\1>'OA
M[<:QXFUWPW??#<8:QM;%KA-4 F\U6A=7 BD895BX /J<<N[%9'*K\:O'S>'+
M[5O[(\.KINGW*6=U,WAC3U$$S9*HP\K(;Y3^5-U/XW^/-&\,Z7K%UI?AF'3=
M9,PL;AO#6G;+DQ,!(%Q%GY20*ZFQ^*O@SXM^$OB-8:YKW_"&R>*O$\>M6H_L
MV6\"QCS?E(CX#?.,G/)SQS7#_$GXA:1X@_9V^&OA^TN&EU7P_-JK7T7E,HA6
M>>-H_F(VME1_#G&.<'-.["R.OTC7OBYK_@4>)K'PGH]YH.UI/M</A;3Y$VJ2
MK-A8LX4@Y..@-&B:]\6O$?@*3Q18^%M#N/#\<4MP]ZGAG3?+"1;O,;_5YXV-
MVZBFP_M6?\('\!/!.B^&X])EUZQM-1M;ZZN=/+W6G+/*V!#*< ;T8DXST7VK
M2T7XK>"]3_9'T3PS>ZKX?@U[2;74E,5_X=FO[A&FE>2,6\ZX6%F&W+9;G:3]
MW!>O4+(Y2V^,7Q"O/!5QXDBT7P\^@VERMI/>CPM8&**4@$*3Y.?XE[=67UJ_
MHGCOXH^(DTQK/P[H%Q'JUO-=VK#PUIVV2&$XED+>5@*IX); Z>M=MX3^/OPQ
MTGX4Z?\ #JZN-8&FWNARVVI:I#$39PWLY$QF,&SS9&25(U5LC & !5/PO^T+
MX/NOV>M#^'.IZE=::MQIEY!>:K:02^;83_:7EA1\+F:WD! = #SCODB>;L/3
MH<OH?C7XK>)O"5YKVG^%])N]%T\MY][%X4L&A0)][YA"=P4=<9 [URY_:?\
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MQZ=H_AC2\76I$-RUS/&I_<6T<>Z1I9-HVQOL#D8H ]VIC#!IR?<'TIK_ 'J
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M6D16\?PG^%_C35=-UA==TG6M<TZ1M3TJZ"(B^7/'(K>6#&KA/[Y)SZ4_V?\
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M]B?/_P"D;5U/Q8_Y%6U_[#.D_P#IPMJY;Q#_ ,F8:I_V)\__ *1M74_%AO\
MBD[3_L,Z3_Z<+:G_ )@8/B?_ ).V\#_]BAX@_P#2W0Z]&0UQ/CGX6MXQ\;:/
MX@L]>U;0=4T6RO-.C>T2"1)H;F2VDD#K-$XR&M(L$8Q\PYS2)\-?$@'_ "43
MQ)_X :;S_P"2U.R8';[O\YHZ]OUKB?\ A6?B3_HHWB+_ , --_\ D:C_ (5G
MXD_Z*-XB_P# #3?_ )&I\B[K\?\ (#ML?[/ZT8_V?UKB?^%9^)/^BC>(O_ #
M3?\ Y&H_X5GXD_Z*-XB_\ --_P#D:GRKNOQ_R [;'^S^M&/]G]:XG_A6?B3_
M **-XB_\ --_^1J/^%9^)/\ HHWB+_P TW_Y&HY5W7X_Y =MC_9_6G5P_P#P
MK/Q'_P!%%\1_^ .F_P#R-0/AGXD/_-1/$G_@!IO_ ,C5/+Y@>%_\%,_'&G^!
M;7P6U]X6T/Q,+I[P(NHF8?9\>1DKY;KUW<YST%?+L?Q9T^X>W2/X.^$Y&NHS
M)$%CU!O.0=64>?G''45[%_P5)\/:AH.F>!UU#Q!J6NF:2^V-=06\1@P(,@>3
M&F0>^<].*P_@1^T#HG@'X#:/KUS>V1\4>![B?2+/3Y&4RW-K=W-O+)*%SN(6
M-;A!U&6&<5<=$3U/-[7XN:;?I;M#\'O"4RW)80E(]0;S=OWMN)_FQWQTJ&7X
MV:/;6<-Q)\)?!:P3[A%(WV_RY2O7:?/P<=\5[1+\0_"/A3]KCP3H>BZ]I:^"
M_!^E7T<-V+N/[(LUU#<RN1)G;DL\2'G.Y0.H('G/B'P_9_$']D/P,MKXF\)V
M=]X5;5[B\T^]U6.&\D$DR/&(XOO,Q$9(X'5<'FGS"Y68[_%>P2\M[=O@[X3%
MQ>*'@B:/4-\RGH5'GY(]"*CB^,FESZG]B7X0^#VO-VSR M^9=WIL\_.?8U]%
M2_'WP;:W.@ZQ-JVCS:UX#LK"RTHK=1[9EO;>"&8DYSFW*S,W4+N .*X6P^(V
MFZAXL^+VF^'?&&D^$_%'B#7S<Z?KLMWY%O>V:R.6A2[7(AR2'W _/P/H<P69
MYCI_Q=T[5KV2WM/@[X1N;B,$O#"FH2.H!P<J)L\$C\ZCU7XR:5H5SY-[\(_!
M]G-C<(YEOXV()/(!G!P>:]$\1_&ZSL_VE?AK<6?BR*XU#38+/3?%7B"TG-K;
M:GBX#2!Y,)YD:J%!=N&"C/2O%?CWXSN_'7Q?\07MUJEQK$:W]Q%:SRW+7"B
M2OL6-B2/+ / 4X&>*-1&[_POWP__ -$M\#?]]WW_ ,D4?\+]\/\ _1+? W_?
M=]_\D5YE15 >F_\ "_?#_P#T2WP-_P!]WW_R11_POWP__P!$M\#?]]WW_P D
M5YE10!Z;_P +]\/_ /1+? W_ 'W??_)%'_"_?#__ $2WP-_WW??_ "17F5%
M'IO_  OWP_\ ]$M\#?\ ?=]_\D4?\+]\/_\ 1+? W_?=]_\ )%>944 >F_\
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MA\/=-\+:;JUUXFLH8KFWUV\F03W$]Y!""(85>00B*50H"=3N%?I=_P $H/\
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M3XD6\9PWA[X.?"[29=8N[5Y<^5'>31YDO;P*3N(>&SCVL[*6"NGTY\'OV=/
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MB9M3NDA0KI.R9XQP7!?.S.<#K1_K5B_+[G_F']DTN[/S!_X<)?M5?]$WM/\
MPJ=(_P#DJC_APE^U5_T3>T_\*G2/_DJOTX^'G[*EEXJ^%-]XGN+[Q1-]EU&Z
ML?)TK2!>"-8%5O,D/F+L4[NN#C!JU\-_V-K7X@_!+2_%!\0:E8WFJ6VH7 SI
MWF:?9?9&88GN X\L.%X..N>#CF?]:L5_=^Y_YA_9-+NS\O?^'"7[5/\ T3>U
M_P#"ITC_ .2J/^'"W[57_1-[;_PJ-(_^2J^Q&=B?_KT;F_R:T_UJQ?:/W/\
MS*_LNGW9\=?\.&/VJO\ HF]O_P"%1I'_ ,E4?\.&/VJO^B;V_P#X5&D?_)5?
M8NYO\FC<W^31_K5BO+[G_F']ET^[_KY'QW_PX7_:J_Z)O;_^%1I'_P E4?\
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MZ+J6[!407*["QS_=8J^1T"T<P:DG_";?"W_HG_B;_P *M?\ Y$H_X3;X6_\
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M^%?_ $3_ ,3?^%4O_P B5YK10!Z5_P )Q\*_^B?^)O\ PJE_^1*/^$X^%?\
MT3_Q-_X52_\ R)7FM% 'I7_"<?"O_HG_ (F_\*I?_D2K6@>-OA?)KUDL?@'Q
M(K&>,*S>*%8*=PP2/LHS]/U%>5U>\-_\C'I__7Q'_P"A"IZ ?LQ%PE.HHK$T
M"BBJ\TBP@EFVCDDD@<>O/I0!\\_M_:W:KHN@Z;N_TXSO<@#^",+MR?JQ&/\
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MW-3?R/A?]I7]F?Q;^R=\7=0\%>-=/_LW5M/8$.K;X;R%N4GB<9#(PYR.1RI
M964?;'_!'K_@L/+^SK>:?\,?B=?R7'@.XD$.DZK*2S^'F/1'.<FU)(]3'U'R
MY _3+]O?]@GP?_P4&^#G]CZMY=KK%E&T^@:] H:33Y6 (/\ MP/A=ZYY&"-K
M!6'X4?%;_@F_\;/A%\1-6\.WGPS\::M)I,[0B]TG1;J^LKM?X9(94CVNC#!'
M0C."%;(&DJ<Z,^:&W<SA4A6ARSW/Z3[.\AU*SBN+>6*XM[A!)%+$P9)$(R&4
MC@@@Y!%25^3_ /P1Z_:O^-7[.]QI_P ,_B=\-_BA<> 9G$.E:M-X:OF;PZQX
M$;GRLFU//7_5YR/ER!^L#'!_^M7L4:RG&_4\>O1=.5N@45SGCOXQ>#_A5?:3
M;^*O%6A^&[C7IC!IJ:A/Y?VMP5SS@JB@L!YDA5!D9;J*Z66)K>5HW4JZ$JP/
M4$=:Z+-&)X3^VU^U/J'[-UCX%T_1U\-QZQ\0/$,>A6U_X@N7M]+TL&-Y&GFV
M_,^ FU45EW,X&1T/B?QL_P""G?C+]FB[\=:;K.F^!?'U]X=\,6WB*RO_  O-
M/#9P--J$5D(;R-FF:/!E$NY9/F1&&!U'T]\</V9?"_[0^M>#[SQ-;M?0^#]0
MFU""QD2.6TOFEMY+=HYT=6#Q[)2=O'.,Y&:U/!?[/?@'X<Z!JFC^'_!/A'0]
M)UH;-1L]/T>WM[>_4J5_>HB!9 0S*0P(P3ZUQU*=1NZ9T1J4TK6/CF^_X*C_
M !,\"^#O%^N:IX+T'6M)T;1[2>ROHH9='3^T+G4+>SC@>*6>>26+$_F&1-N!
M'M."XKZ:L_'OQB^!WC?X4_\ "4Z+\/\ QU_PL;Q%>Z)I^F:2ESI(GGMM)N[Q
M8_-FFD&'FAACW,%4*SYSGCZ4_94_X))_"D:#<:QJ'PS\'^';74F@>.UL-"M+
M5[M(I4GCDEVQ9*K(B.G0AD5A@A37V%XF^"_@_P ::9I5CK'A7P_K%GHLC3:=
M#?:=%<1V,C120L\0=3L9HI94++@E9'!.&(/EXC%./N)W/2H86,K3:/R+MO\
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M3_PFNI<D_P#;W7U5_P .S/V<_P#H@GP;_P#"-T[_ .,T?\.S/V<_^B"?!O\
M\(W3O_C- 'RC_P 0W/[ 8?Y?ASI>/^QUU+_Y+_S_ "^SOBUX&^'/QUL+*W\3
M76DZA#ITK36X&J>3Y;, "<HXSP ,'(KG_P#AV9^SG_T03X-_^$;IW_QFN+^(
MW[(7[)OPIUC3]/USX(_"6WOM4@FN+6&#X>6]V\T4.SS6 AMGX3>F[/0,">*
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MDNFW5N/A[;X2ZB@%R]OO-MM,H@Q*(U)8H0PRIS4OA/\ 9D_8[\=:3HNI:/\
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MA"$4_*O.!6L=$9GD7]E?"?\ Z#WQ#_\ !#9__)E']E?"?_H/?$/_ ,$-G_\
M)E>I?#+P]X4\#_LOS:CXEL_"]GKYUJ^T\/K.C3WLTK1Q(1 IB(\M@V>6R 2#
M6''XET:3]BU]8/@OPC_:\>KKX;^VBS/G&/[&'\_.[B<L,[NF>U/F XG^ROA/
M_P!![XA_^"&S_P#DRC^ROA/_ -![XA_^"&S_ /DROH+PU\!]%?Q7X>\-Q_#N
MUU#P'JFB)?7GC)O-$R.UNTC3_: WEQ[7P!&1V[BN7^#OP5\'_$+X#^&]/E@M
MX_%&J:U>OIE^R[!J7V5HBUI)GG]Y$[E<D?,HYYVDY@/)?[*^$_\ T'OB'_X(
M;/\ ^3*/[*^$_P#T'OB'_P""&S_^3*A^-_@I1^TGXF\.Z#8I&K:[-8V-I"NU
M5S,51%'' X 'T'%>S?M4?LTZ3X2^%.FWFAZ7I\-QX-O(=+U>XMKJ*5]322*+
M-U(J,S)BX$L>UPK8;.,8P<P'C_\ 97PG_P"@]\0__!#9_P#R91_97PG_ .@]
M\0__  0V?_R97JWCGX 1^'_V]-.L9O"4]GX)U#6[:UMQ)8-'I]RK0H61&(VO
MR&R >/FSTIWBQ/AGXJ^/7A'3=#\,GQ-]AGO?[;M/#NF3VL5RJY,*+#(^YVC*
MDN05#@8!/ !$#R?^ROA/_P!![XA_^"&S_P#DRC^ROA/_ -![XA_^"&S_ /DR
MM+]KWP3)X&^(NGQMI6BZ.NH:5#>QP:=:3V8VLT@!E@F):*7Y2&3IP#U)KRD'
M([_C5 >B?V5\)_\ H/?$/_P0V?\ \F4?V5\)_P#H/?$/_P $-G_\F5YW10!Z
M)_97PG_Z#WQ#_P#!#9__ "91_97PG_Z#WQ#_ /!#9_\ R97G=% 'HG]E?"?_
M *#WQ#_\$-G_ /)E']E?"?\ Z#WQ#_\ !#9__)E>=T4 >B?V5\)_^@]\0_\
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M  UM\0?^A@;_ , K;_XW3T \WHKTC_AK;X@_]# W_@%;?_&Z/^&MOB#_ -#
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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MZL4<[#E/A/1?V4/VBO#OB35-8L=>L[74]:*-?W$>I!6NR@(4M\O8$_G1X?\
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M>P%7$IU%2M.H[R9%.C&'PA11169J%%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 >*_MZ?MH^$_^
M"?O[*?B[XL>,IE_LOPS:EX++S5CFU6[;Y8+2+/625RJ]#M7<Q&%:OXO?VN?V
MHO%'[:/[2/B[XH>-+K[5XC\87[7MTR_ZN!>$BAC':.*)4C4'^%!7])'_  <#
M?\$BOVI/^"MGQ#\-Z+X'\6?"GPW\)?!\/VFUTW6-:U"*\U+47!$EU/'#82(
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M/S&6%-JF1]SMW))ZDGN:OC[QI:<JCD]2:=-05D%%%%(T"BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
7"BBB@ HHHH **** "BBB@ HHHH __]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>mtn2020073110-k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:country="http://xbrl.sec.gov/country/2020-01-31"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:mtn="http://www.vailresorts.com/20200731"
  xmlns:srt="http://fasb.org/srt/2020-01-31"
  xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
    <link:schemaRef xlink:href="mtn-20200731.xsd" xlink:type="simple"/>
    <context id="FD2020Q4YTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q2">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2020-01-31</instant>
        </period>
    </context>
    <context id="I2021Q1SharesOutstanding">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2020-09-21</instant>
        </period>
    </context>
    <context id="FI2020Q4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2018Q4YTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedOtherComprehensiveIncomeMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2017-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:TotalVailResortsIncStockholdersEquityMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:SoftwareAndSoftwareDevelopmentCostsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:MountainOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:RealEstateOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeStatementLocationAxis">mtn:LodgingOperatingExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="I2020Q1Adoption">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2019-08-01</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IndefiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:GoodwillMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IndefiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:FiniteLivedIntangibleAssetsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:MachineryAndEquipmentMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:MachineryAndEquipmentMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:LandImprovementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:BuildingAndBuildingImprovementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:FurnitureAndFixturesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:VehiclesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:LandImprovementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:FurnitureAndFixturesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:VehiclesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:PropertyPlantAndEquipmentByTypeAxis">us-gaap:BuildingAndBuildingImprovementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:OtherMountainRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:PayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LodgingrevenueexcludingpayrollcostreimbursementsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OwnedHotelRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:TransportationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:GolfMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:RetailRentalMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:OtherLodgingRevenueMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:DiningMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:DiningMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LiftTicketsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:SkiSchoolMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ProductOrServiceAxis">mtn:ManagedcondominiumroomsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2016-08-01</startDate>
            <endDate>2017-07-31</endDate>
        </period>
    </context>
    <context id="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">mtn:ExchangeableSharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2016-08-01</startDate>
            <endDate>2017-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_EventofDefaultMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:EventofDefaultMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear2Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:ExtensionYear2Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2013-05-28</startDate>
            <endDate>2013-05-29</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes1Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotes1Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:JackFrostBigBoulderSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_HunterMountainSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:ColoradoWaterConservationBoardNoteOutstandingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes2Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotes2Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:ColoradoWaterConservationBoardNoteOutstandingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:BostonMillsBrandywineSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanHedgedPortionMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanHedgedPortionMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanUnhedgedPortionMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanUnhedgedPortionMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear1Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">mtn:ExtensionYear1Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:AlpineValleySecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:HunterMountainSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_MountSnowSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:MountSnowSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:MountSnowSecuredNoteMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EPRSecuredNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EB5DevelopmentNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:TermLoanMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:A6.25NotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:OtherDebtMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EB5DevelopmentNotesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:WhistlerCreditAgreementrevolverMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:CanyonsObligationMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BreckenridgeTerraceMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheaMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TenderfootMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:TarnesMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mtn:BcHousingMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:DebtInstrumentByTrancheAxis">mtn:TrancheBMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:LongtermDebtTypeAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:TriplePeaksLLCMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekandHothamMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:StevensPassMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-09-24</startDate>
            <endDate>2019-09-24</endDate>
        </period>
    </context>
    <context id="I2020Q1PeakAcquisition_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PeakResortsInc.Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-09-24</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:CanyonsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2018-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_KeystoneAndIntrawestLlcMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:KeystoneAndIntrawestLlcMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_ClintonDitchAndReservoirCompanyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mtn:ClintonDitchAndReservoirCompanyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel3Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CommercialPaperMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel2Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:CertificatesOfDepositMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:FairValueByFairValueHierarchyLevelAxis">us-gaap:FairValueInputsLevel1Member</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis">us-gaap:MoneyMarketFundsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_country_US">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">country:US</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_ForeignCountryMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:ForeignCountryMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_IncomeTaxAuthorityAxis_us-gaap_InterestExpenseMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:InterestExpenseMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_StateAndLocalJurisdictionMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:IncomeTaxAuthorityAxis">us-gaap:StateAndLocalJurisdictionMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mtn:BeaverCreekResortCompanyOfColoradoMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LossContingenciesByNatureOfContingencyAxis">mtn:WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:PerisherMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_EmployeeHousingBondsMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:LossContingenciesByNatureOfContingencyAxis">mtn:EmployeeHousingBondsMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:NorthstarMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:RedSkyRanchMetropolitanDistrictMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:HollandCreekMetropolitanDistrictMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="dei:LegalEntityAxis">mtn:HollandCreekMetropolitanDistrictMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_HothamMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:HothamMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mtn:FallsCreekMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionForeignMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:GeographicDistributionDomesticMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementGeographicalAxis">us-gaap:CanadaRevenueAgencyMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:MountainMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:ResortMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">mtn:LodgingMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementBusinessSegmentsAxis">us-gaap:RealEstateMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q4QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2020-05-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FD2020Q2QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2019-11-01</startDate>
            <endDate>2020-01-31</endDate>
        </period>
    </context>
    <context id="FD2020Q3QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2020-02-01</startDate>
            <endDate>2020-04-30</endDate>
        </period>
    </context>
    <context id="FD2020Q1QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2019-10-31</endDate>
        </period>
    </context>
    <context id="FD2019Q3QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2019-02-01</startDate>
            <endDate>2019-04-30</endDate>
        </period>
    </context>
    <context id="FD2019Q1QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2018-10-31</endDate>
        </period>
    </context>
    <context id="FD2019Q2QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2018-11-01</startDate>
            <endDate>2019-01-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4QTD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <startDate>2019-05-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="I2008Q4SD">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2008-07-16</instant>
        </period>
    </context>
    <context id="I2016Q2SharesAuthorized">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2015-12-04</instant>
        </period>
    </context>
    <context id="I2006Q3">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
        </entity>
        <period>
            <instant>2006-03-09</instant>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2019-08-01</startDate>
            <endDate>2020-07-31</endDate>
        </period>
    </context>
    <context id="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2019-07-31</instant>
        </period>
    </context>
    <context id="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2020-07-31</instant>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mtn:RestrictedStockUnitsRsusMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FI2023Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2023-07-31</instant>
        </period>
    </context>
    <context id="FI2022Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2022-07-31</instant>
        </period>
    </context>
    <context id="FI2021Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:StatementScenarioAxis">srt:ScenarioForecastMember</xbrldi:explicitMember>
                <xbrldi:explicitMember dimension="mtn:UnrecognizedCompensationExpenseAxis">mtn:ExpectedToBeRecognizedInOneYearMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <instant>2021-07-31</instant>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_RangeAxis_srt_MinimumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_RangeAxis_srt_MinimumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MinimumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2019Q4YTD_srt_RangeAxis_srt_MaximumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2018-08-01</startDate>
            <endDate>2019-07-31</endDate>
        </period>
    </context>
    <context id="FD2018Q4YTD_srt_RangeAxis_srt_MaximumMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000812011</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:RangeAxis">srt:MaximumMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2017-08-01</startDate>
            <endDate>2018-07-31</endDate>
        </period>
    </context>
    <unit id="usd">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="number">
        <measure>pure</measure>
    </unit>
    <unit id="shares">
        <measure>shares</measure>
    </unit>
    <unit id="cad">
        <measure>iso4217:CAD</measure>
    </unit>
    <unit id="usdPerShare">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <unit id="aud">
        <measure>iso4217:AUD</measure>
    </unit>
    <unit id="director">
        <measure>mtn:director</measure>
    </unit>
    <unit id="hour">
        <measure>mtn:hour</measure>
    </unit>
    <dei:AmendmentFlag
      contextRef="FD2020Q4YTD"
      id="Fact-EA77A6C9921B637F9A0F5D5D915DD6FB-wk-Fact-EA77A6C9921B637F9A0F5D5D915DD6FB">false</dei:AmendmentFlag>
    <dei:CurrentFiscalYearEndDate
      contextRef="FD2020Q4YTD"
      id="Fact-A39B254C7B23F06CF3375D5D915D4B2C-wk-Fact-A39B254C7B23F06CF3375D5D915D4B2C">--07-31</dei:CurrentFiscalYearEndDate>
    <dei:DocumentFiscalPeriodFocus
      contextRef="FD2020Q4YTD"
      id="Fact-A81AB6711397691EC2505D5D916B701C-wk-Fact-A81AB6711397691EC2505D5D916B701C">FY</dei:DocumentFiscalPeriodFocus>
    <dei:DocumentFiscalYearFocus
      contextRef="FD2020Q4YTD"
      id="Fact-6582A26506BD4935EDBB5D5D916197E3-wk-Fact-6582A26506BD4935EDBB5D5D916197E3">2020</dei:DocumentFiscalYearFocus>
    <dei:EntityCentralIndexKey
      contextRef="FD2020Q4YTD"
      id="Fact-B3DA82393DA18A0EC7315D5D9169DBFF-wk-Fact-B3DA82393DA18A0EC7315D5D9169DBFF">0000812011</dei:EntityCentralIndexKey>
    <mtn:ExchangeableSharesParValuePerShare
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-4004A483B8F0CDF3BCE1B223AD4BA970-wk-Fact-4004A483B8F0CDF3BCE1B223AD4BA970"
      unitRef="usdPerShare">0.01</mtn:ExchangeableSharesParValuePerShare>
    <mtn:ExchangeableSharesSharesIssued
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-037AB792791E5EE491F95D5D91378802-wk-Fact-037AB792791E5EE491F95D5D91378802"
      unitRef="shares">56000</mtn:ExchangeableSharesSharesIssued>
    <mtn:ExchangeableSharesSharesIssued
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-CD3E3B71AB44C3B2B6E65D5D913FE86F-wk-Fact-CD3E3B71AB44C3B2B6E65D5D913FE86F"
      unitRef="shares">36000</mtn:ExchangeableSharesSharesIssued>
    <mtn:LesseeOperatingAndFinanceLeaseTerm
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember"
      id="Fact-8ED92958D4B41BF094879A929150BDDC-wk-Fact-8ED92958D4B41BF094879A929150BDDC">P60Y</mtn:LesseeOperatingAndFinanceLeaseTerm>
    <mtn:LesseeOperatingAndFinanceLeaseTerm
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember"
      id="Fact-9A8220E72E45698A6CEE9A925D9024F6-wk-Fact-9A8220E72E45698A6CEE9A925D9024F6">P1Y</mtn:LesseeOperatingAndFinanceLeaseTerm>
    <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="Fact-89C8FECC6166AC2235665D5D9142C138-wk-Fact-89C8FECC6166AC2235665D5D9142C138"
      unitRef="usd">724000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
    <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-34153E6008189B162C875D5D913D5E02-wk-Fact-34153E6008189B162C875D5D913D5E02"
      unitRef="usd">2484000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
    <us-gaap:CommonStockParOrStatedValuePerShare
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-348B631C17B803E6A1275D5D913AF2BC-wk-Fact-348B631C17B803E6A1275D5D913AF2BC"
      unitRef="usdPerShare">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
    <us-gaap:CommonStockParOrStatedValuePerShare
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-E91A211B894DCAB649765D5D9137D8B0-wk-Fact-E91A211B894DCAB649765D5D9137D8B0"
      unitRef="usdPerShare">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
    <us-gaap:CommonStockSharesAuthorized
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-0293AA44A758863BAEF75D5D914498CB-wk-Fact-0293AA44A758863BAEF75D5D914498CB"
      unitRef="shares">100000000</us-gaap:CommonStockSharesAuthorized>
    <us-gaap:CommonStockSharesAuthorized
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-8787D44FC9692F75848A5D5D912EE76A-wk-Fact-8787D44FC9692F75848A5D5D912EE76A"
      unitRef="shares">100000000</us-gaap:CommonStockSharesAuthorized>
    <us-gaap:CommonStockSharesIssued
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-9705F0B0DD6EA0140CC75D5D913EF803-wk-Fact-9705F0B0DD6EA0140CC75D5D913EF803"
      unitRef="shares">46190000</us-gaap:CommonStockSharesIssued>
    <us-gaap:CommonStockSharesIssued
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-3171856AD06765A8601B5D5D91388327-wk-Fact-3171856AD06765A8601B5D5D91388327"
      unitRef="shares">46350000</us-gaap:CommonStockSharesIssued>
    <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="INF"
      id="Fact-14FCD1304D32BD4E5CDC5D5D91496F44-wk-Fact-14FCD1304D32BD4E5CDC5D5D91496F44"
      unitRef="number">0.001</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
    <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="INF"
      id="Fact-7F8B74C1894B7FA9E6595D5D914B6233-wk-Fact-7F8B74C1894B7FA9E6595D5D914B6233"
      unitRef="number">0</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
    <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember"
      decimals="INF"
      id="Fact-544691CBC429BE6370915D5D91499AAD-wk-Fact-544691CBC429BE6370915D5D91499AAD"
      unitRef="number">0.0125</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
    <us-gaap:DebtInstrumentDescriptionOfVariableRateBasis
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="Fact-74C7C894788BD481529E5D5D9196DDFF-wk-Fact-74C7C894788BD481529E5D5D9196DDFF">LIBOR plus 0% to 0.05%</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
    <us-gaap:DebtInstrumentMaturityDateRangeEnd1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="Fact-5F8C9BC67C0FDDC945E65D5D91973815-wk-Fact-5F8C9BC67C0FDDC945E65D5D91973815">2039-05-01</us-gaap:DebtInstrumentMaturityDateRangeEnd1>
    <us-gaap:DebtInstrumentMaturityDateRangeEnd1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      id="Fact-D1DA3A5B8D036AC5C7F95D5D91950114-wk-Fact-D1DA3A5B8D036AC5C7F95D5D91950114">2033-07-31</us-gaap:DebtInstrumentMaturityDateRangeEnd1>
    <us-gaap:DebtInstrumentMaturityDateRangeStart1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="Fact-0FB42B4E2F9DD9D87B325D5D9195D625-wk-Fact-0FB42B4E2F9DD9D87B325D5D9195D625">2027-06-01</us-gaap:DebtInstrumentMaturityDateRangeStart1>
    <us-gaap:DebtInstrumentMaturityDateRangeStart1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      id="Fact-CBA05CDBE906DFABBD515D5D91991460-wk-Fact-CBA05CDBE906DFABBD515D5D91991460">2020-07-31</us-gaap:DebtInstrumentMaturityDateRangeStart1>
    <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-33BF552136695F3153CE5D5D90F1ECE0-wk-Fact-33BF552136695F3153CE5D5D90F1ECE0"
      unitRef="usd">4326000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive>
    <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-A3D8F7C260FF078F0B815D5D90F18748-wk-Fact-A3D8F7C260FF078F0B815D5D90F18748"
      unitRef="usd">4326000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour>
    <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-FA3DAD33BA9248D2E3525D5D90F035DC-wk-Fact-FA3DAD33BA9248D2E3525D5D90F035DC"
      unitRef="usd">4326000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
    <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-8C96FAFAC0B9F3A8E4075D5D90F1CB02-wk-Fact-8C96FAFAC0B9F3A8E4075D5D90F1CB02"
      unitRef="usd">4326000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo>
    <us-gaap:InventoryValuationReserves
      contextRef="FI2019Q4"
      decimals="-3"
      id="Fact-3F840F733E5C4C86BEDB5D5D9141B185-wk-Fact-3F840F733E5C4C86BEDB5D5D9141B185"
      unitRef="usd">2031000</us-gaap:InventoryValuationReserves>
    <us-gaap:InventoryValuationReserves
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-A683AA4C9C161AFB972A5D5D913E5B71-wk-Fact-A683AA4C9C161AFB972A5D5D913E5B71"
      unitRef="usd">4447000</us-gaap:InventoryValuationReserves>
    <us-gaap:LeaseExpirationDate1
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="Fact-E68890FE119910AD8B6F98035A3D2580-wk-Fact-E68890FE119910AD8B6F98035A3D2580">2079-07-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:LeaseExpirationDate1
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekMember"
      id="Fact-0B8969F2DE01E90C415C9801E29DEFC3-wk-Fact-0B8969F2DE01E90C415C9801E29DEFC3">2041-07-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:LeaseExpirationDate1
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_HothamMember"
      id="Fact-9245E07C9DC060608D9C9802D1D37540-wk-Fact-9245E07C9DC060608D9C9802D1D37540">2058-07-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:LeaseExpirationDate1
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember"
      id="Fact-F7AB177C20D2F5990BF09800CE90565A-wk-Fact-F7AB177C20D2F5990BF09800CE90565A">2027-07-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:LeaseExpirationDate1
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember"
      id="Fact-15ADE2206F2760F8F1DC98013ED349F7-wk-Fact-15ADE2206F2760F8F1DC98013ED349F7">2048-07-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
      contextRef="FI2019Q4"
      id="Fact-56B1AB00DC4CFEB7960C9E89FF8C70E4-wk-Fact-56B1AB00DC4CFEB7960C9E89FF8C70E4">mtn:AccountsPayableAccruedLiabilities</us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList>
    <us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
      contextRef="FI2020Q4"
      id="Fact-ADC8AD2CD776C018258E9E74B810E0CE-wk-Fact-ADC8AD2CD776C018258E9E74B810E0CE">mtn:AccountsPayableAccruedLiabilities</us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList>
    <us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
      contextRef="I2020Q1Adoption"
      id="Fact-2C700EB6490BE07CA4B09E8A008BD421-wk-Fact-2C700EB6490BE07CA4B09E8A008BD421">mtn:AccountsPayableAccruedLiabilities</us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList>
    <us-gaap:PreferredStockParOrStatedValuePerShare
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-0B1990BEB79A224885235D5D913B2ACE-wk-Fact-0B1990BEB79A224885235D5D913B2ACE"
      unitRef="usdPerShare">0.01</us-gaap:PreferredStockParOrStatedValuePerShare>
    <us-gaap:PreferredStockParOrStatedValuePerShare
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-A7642D12A0D3263BBAD65D5D913FFECF-wk-Fact-A7642D12A0D3263BBAD65D5D913FFECF"
      unitRef="usdPerShare">0.01</us-gaap:PreferredStockParOrStatedValuePerShare>
    <us-gaap:PreferredStockSharesAuthorized
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-EF829C7D445F7D74132F5D5D912FE745-wk-Fact-EF829C7D445F7D74132F5D5D912FE745"
      unitRef="shares">25000000</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesAuthorized
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-D1E2CBB1CEF89FAE51F45D5D913B6C27-wk-Fact-D1E2CBB1CEF89FAE51F45D5D913B6C27"
      unitRef="shares">25000000</us-gaap:PreferredStockSharesAuthorized>
    <us-gaap:PreferredStockSharesIssued
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-1E11985FDE2357DEB9605D5D913345F3-wk-Fact-1E11985FDE2357DEB9605D5D913345F3"
      unitRef="shares">0</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesIssued
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-80D2AA74422F81EBE8735D5D913D2802-wk-Fact-80D2AA74422F81EBE8735D5D913D2802"
      unitRef="shares">0</us-gaap:PreferredStockSharesIssued>
    <us-gaap:PreferredStockSharesOutstanding
      contextRef="FI2019Q4"
      decimals="INF"
      id="Fact-EFEEA7A26DDBE1E31B1D5D5D91431392-wk-Fact-EFEEA7A26DDBE1E31B1D5D5D91431392"
      unitRef="shares">0</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PreferredStockSharesOutstanding
      contextRef="FI2020Q4"
      decimals="INF"
      id="Fact-C52F2116F35EABC3A0915D5D9145B4D7-wk-Fact-C52F2116F35EABC3A0915D5D9145B4D7"
      unitRef="shares">0</us-gaap:PreferredStockSharesOutstanding>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember"
      id="Fact-FB203C17E5FADBCE47095D5D9191B235-wk-Fact-FB203C17E5FADBCE47095D5D9191B235">P30Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember"
      id="Fact-5F5C3B5E0F02C1B253CE5D5D91950A90-wk-Fact-5F5C3B5E0F02C1B253CE5D5D91950A90">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember"
      id="Fact-BC722363C48E513ECB415D5D9193B4D2-wk-Fact-BC722363C48E513ECB415D5D9193B4D2">P35Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember"
      id="Fact-348698B33570B210EA635D5D9191910C-wk-Fact-348698B33570B210EA635D5D9191910C">P30Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember"
      id="Fact-407D28336984A76836145D5D9197DC1E-wk-Fact-407D28336984A76836145D5D9197DC1E">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_BuildingAndBuildingImprovementsMember"
      id="Fact-00F863A40351877AB0DE5D5D9199D756-wk-Fact-00F863A40351877AB0DE5D5D9199D756">P7Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_FurnitureAndFixturesMember"
      id="Fact-B0146B3A6F098CE9A5DD5D5D919224A1-wk-Fact-B0146B3A6F098CE9A5DD5D5D919224A1">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LandImprovementsMember"
      id="Fact-ECCAB0997B14286749505D5D9190AAA3-wk-Fact-ECCAB0997B14286749505D5D9190AAA3">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_MachineryAndEquipmentMember"
      id="Fact-76D94F746602CA6997D65D5D9191FA50-wk-Fact-76D94F746602CA6997D65D5D9191FA50">P2Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_VehiclesMember"
      id="Fact-0CA608D4C33FD305238A5D5D919274A1-wk-Fact-0CA608D4C33FD305238A5D5D919274A1">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:RevenueFromRelatedParties
      contextRef="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember"
      decimals="-5"
      id="Fact-63F19B1FAABE21A044115D5D90EA4F37-wk-Fact-63F19B1FAABE21A044115D5D90EA4F37"
      unitRef="usd">0</us-gaap:RevenueFromRelatedParties>
    <us-gaap:RevenueFromRelatedParties
      contextRef="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember"
      decimals="-5"
      id="Fact-10431A0833DB84732F395D5D90EA76AC-wk-Fact-10431A0833DB84732F395D5D90EA76AC"
      unitRef="usd">0</us-gaap:RevenueFromRelatedParties>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
      contextRef="FD2018Q4YTD"
      decimals="INF"
      id="Fact-C947368771CF8C8E73DD5D5D90F5AE3A-wk-Fact-C947368771CF8C8E73DD5D5D90F5AE3A"
      unitRef="number">0.023</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
      contextRef="FD2019Q4YTD"
      decimals="4"
      id="Fact-4BBEB8CC31FD4FFDB8BA5D5D91BB38E4-wk-Fact-4BBEB8CC31FD4FFDB8BA5D5D91BB38E4"
      unitRef="number">0.0290</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="Fact-E11C2B91B1DF1680F3FD5D5D91AAF430-wk-Fact-E11C2B91B1DF1680F3FD5D5D91AAF430"
      unitRef="number">0.02</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
      contextRef="FD2018Q4YTD"
      decimals="INF"
      id="Fact-554B3B1F1E11EF61EE305D5D90C97A20-wk-Fact-554B3B1F1E11EF61EE305D5D90C97A20"
      unitRef="number">0.012</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
      contextRef="FD2019Q4YTD"
      decimals="4"
      id="Fact-96B9323650C9776F45A85D5D91B78B48-wk-Fact-96B9323650C9776F45A85D5D91B78B48"
      unitRef="number">0.0240</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="Fact-383323C1028F32DE23AD5D5D90C84B14-wk-Fact-383323C1028F32DE23AD5D5D90C84B14"
      unitRef="number">0.018</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2018Q4YTD_srt_RangeAxis_srt_MaximumMember"
      id="Fact-F679B949E1C8BC21E81F5D5D90D36DFB-wk-Fact-F679B949E1C8BC21E81F5D5D90D36DFB">P6Y5M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2018Q4YTD_srt_RangeAxis_srt_MinimumMember"
      id="Fact-B8F45C63824297ED1EE85D5D91B304EA-wk-Fact-B8F45C63824297ED1EE85D5D91B304EA">P5Y10M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2019Q4YTD_srt_RangeAxis_srt_MaximumMember"
      id="Fact-CD90DC88AC2238445A245D5D90CF1300-wk-Fact-CD90DC88AC2238445A245D5D90CF1300">P6Y7M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2019Q4YTD_srt_RangeAxis_srt_MinimumMember"
      id="Fact-CC9C928737B8A0C92F815D5D91A4F764-wk-Fact-CC9C928737B8A0C92F815D5D91A4F764">P6Y0M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember"
      id="Fact-D9AEF4BA84CD99DD7CF65D5D90F660A9-wk-Fact-D9AEF4BA84CD99DD7CF65D5D90F660A9">P7Y1M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember"
      id="Fact-8657BFD193F3EBF891605D5D91C033E6-wk-Fact-8657BFD193F3EBF891605D5D91C033E6">P6Y6M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
    <us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="Fact-E951DFF74B4543DE275B5D5D916CF004-wk-Fact-E951DFF74B4543DE275B5D5D916CF004"
      unitRef="usd">1981000</us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit>
    <us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="Fact-9D45456016487EA65CD95D5D916C006F-wk-Fact-9D45456016487EA65CD95D5D916C006F"
      unitRef="usd">0</us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit>
    <us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="Fact-97987D825D6BCC5DE2595D5D916D4A07-wk-Fact-97987D825D6BCC5DE2595D5D916D4A07"
      unitRef="usd">0</us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit>
    <us-gaap:TreasuryStockShares
      contextRef="FI2019Q4"
      decimals="-3"
      id="Fact-493ACACAE9A68AB88C905D5D913133C6-wk-Fact-493ACACAE9A68AB88C905D5D913133C6"
      unitRef="shares">5905000</us-gaap:TreasuryStockShares>
    <us-gaap:TreasuryStockShares
      contextRef="FI2020Q4"
      decimals="-3"
      id="Fact-EF063A20FA2488E3B10E5D5D9138183A-wk-Fact-EF063A20FA2488E3B10E5D5D9138183A"
      unitRef="shares">6161000</us-gaap:TreasuryStockShares>
    <dei:DocumentType
      contextRef="FD2020Q4YTD"
      id="d5394186e673-wk-Fact-57762B8735A2A9E10DE67DEAEC5A01C3">10-K</dei:DocumentType>
    <dei:DocumentAnnualReport
      contextRef="FD2020Q4YTD"
      id="d5394186e690-wk-Fact-7749F80DDD258D6255737DEB7AA213B8">true</dei:DocumentAnnualReport>
    <dei:DocumentPeriodEndDate
      contextRef="FD2020Q4YTD"
      id="d5394186e702-wk-Fact-EB990E2E2BD20372CB0380F816EF870D">2020-07-31</dei:DocumentPeriodEndDate>
    <dei:DocumentTransitionReport
      contextRef="FD2020Q4YTD"
      id="d5394186e722-wk-Fact-A1F9C0D52BDFE08AB9F07DECB687D312">false</dei:DocumentTransitionReport>
    <dei:EntityFileNumber
      contextRef="FD2020Q4YTD"
      id="d5394186e735-wk-Fact-487AE7884CFDBE9CF8E57E5E4F211E3B">001-09614</dei:EntityFileNumber>
    <dei:EntityRegistrantName
      contextRef="FD2020Q4YTD"
      id="d5394186e742-wk-Fact-78432C9F0F521E510EAD7E5EB3F0C961">Vail Resorts, Inc.</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode
      contextRef="FD2020Q4YTD"
      id="d5394186e769-wk-Fact-7D6319377E20AA85B06B7E5F33964972">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityTaxIdentificationNumber
      contextRef="FD2020Q4YTD"
      id="d5394186e784-wk-Fact-26E13297239AAACB9D197E5FC14570F1">51-0291762</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1
      contextRef="FD2020Q4YTD"
      id="d5394186e832-wk-Fact-5994D317D25F4105A5887E5FFD90AD2B">390 Interlocken Crescent</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown
      contextRef="FD2020Q4YTD"
      id="d5394186e853-wk-Fact-4C4F55B53AD8035407057E603A918844">Broomfield, </dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince
      contextRef="FD2020Q4YTD"
      id="d5394186e858-wk-Fact-9F69660063EA28700B2B7E60772F9BCF">CO</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode
      contextRef="FD2020Q4YTD"
      id="d5394186e868-wk-Fact-DF8138ECA49B9D697C347E60B2A8E783">80021</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode
      contextRef="FD2020Q4YTD"
      id="d5394186e904-wk-Fact-15520733646186FE62FF7E611CCE4BD7">(303) </dei:CityAreaCode>
    <dei:LocalPhoneNumber
      contextRef="FD2020Q4YTD"
      id="d5394186e909-wk-Fact-993F2AC021743EBCF1867E6144F7F939">404-1800</dei:LocalPhoneNumber>
    <dei:Security12bTitle
      contextRef="FD2020Q4YTD"
      id="d5394186e955-wk-Fact-EF5C55CBC434BF17B0947E61DA676857">Common Stock, $0.01 par value</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="FD2020Q4YTD"
      id="d5394186e960-wk-Fact-37CFD45309F6173793027E6202762036">MTN</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="FD2020Q4YTD"
      id="d5394186e965-wk-Fact-6CE4B8E3856A9285D64D7E623F2F38E9">NYSE</dei:SecurityExchangeName>
    <dei:EntityWellKnownSeasonedIssuer
      contextRef="FD2020Q4YTD"
      id="d5394186e997-wk-Fact-9C445FBB8E9F515F3AC97E62A6D74048">Yes</dei:EntityWellKnownSeasonedIssuer>
    <dei:EntityVoluntaryFilers
      contextRef="FD2020Q4YTD"
      id="d5394186e1016-wk-Fact-1AD2ABFC87A7C121ACED7E649CA93109">No</dei:EntityVoluntaryFilers>
    <dei:EntityCurrentReportingStatus
      contextRef="FD2020Q4YTD"
      id="d5394186e1029-wk-Fact-AE2F61F4359667275A317E6540ED339B">Yes</dei:EntityCurrentReportingStatus>
    <dei:EntityInteractiveDataCurrent
      contextRef="FD2020Q4YTD"
      id="d5394186e1049-wk-Fact-675A40C42F356B17CE0E7E659F0C1FE1">Yes</dei:EntityInteractiveDataCurrent>
    <dei:EntityFilerCategory
      contextRef="FD2020Q4YTD"
      id="d5394186e1077-wk-Fact-34D4EAA3E899CA205F167E68CD5C725A">Large Accelerated Filer</dei:EntityFilerCategory>
    <dei:EntitySmallBusiness
      contextRef="FD2020Q4YTD"
      id="d5394186e1133-wk-Fact-E9191276A7AE4BF93F857E693E2CD222">false</dei:EntitySmallBusiness>
    <dei:EntityEmergingGrowthCompany
      contextRef="FD2020Q4YTD"
      id="d5394186e1164-wk-Fact-35D557EF259D7F9A6BE67E6977D6C429">false</dei:EntityEmergingGrowthCompany>
    <dei:IcfrAuditorAttestationFlag
      contextRef="FD2020Q4YTD"
      id="d5394186e1176-wk-Fact-EE6C1841628579DEF8B57E6A65273AA4">true</dei:IcfrAuditorAttestationFlag>
    <dei:EntityShellCompany
      contextRef="FD2020Q4YTD"
      id="d5394186e1185-wk-Fact-1FFE3336AC861697DF127E6B4A0B72D2">false</dei:EntityShellCompany>
    <dei:EntityPublicFloat
      contextRef="FI2020Q2"
      decimals="0"
      id="d5394186e1201-wk-Fact-7723B80DF6DCCFA3A14D7E6CE9958DD2"
      unitRef="usd">9336675376</dei:EntityPublicFloat>
    <dei:EntityCommonStockSharesOutstanding
      contextRef="I2021Q1SharesOutstanding"
      decimals="0"
      id="d5394186e1209-wk-Fact-8D94A8002B8D2E09DB5C83FB5E08F429"
      unitRef="shares">40189225</dei:EntityCommonStockSharesOutstanding>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e847-wk-Fact-3F6D74607DF21AF4CA9D5D5D9109D5D3"
      unitRef="usd">390980000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e861-wk-Fact-4D9A3240F62BFA7A51665D5D90FCE295"
      unitRef="usd">108850000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e876-wk-Fact-570152A80CB3000C448F5D5D9103A7C4"
      unitRef="usd">11106000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
    <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e890-wk-Fact-DE4FDF50E4D071D4053C5D5D9108F0A7"
      unitRef="usd">9539000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
    <us-gaap:AccountsReceivableNetCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e910-wk-Fact-0B6BDE490137B351FD035D5D9105D63B"
      unitRef="usd">106664000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e924-wk-Fact-44DEEF8B5D776A1977C65D5D90FEFD9D"
      unitRef="usd">270896000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:InventoryNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e944-wk-Fact-52F8ECFEFD6E6111EBDD5D5D911674C2"
      unitRef="usd">101856000</us-gaap:InventoryNet>
    <us-gaap:InventoryNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e958-wk-Fact-29DF96CDD5228C863FFA5D5D9103BC63"
      unitRef="usd">96539000</us-gaap:InventoryNet>
    <us-gaap:OtherAssetsCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e978-wk-Fact-F9161DB10CBF58C1A8FA5D5D911B5566"
      unitRef="usd">54482000</us-gaap:OtherAssetsCurrent>
    <us-gaap:OtherAssetsCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e992-wk-Fact-931C622732E058977FE95D5D90FF6B44"
      unitRef="usd">42116000</us-gaap:OtherAssetsCurrent>
    <us-gaap:AssetsCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1012-wk-Fact-01A0BF61A89A3757774F5D5D90F969C7"
      unitRef="usd">665088000</us-gaap:AssetsCurrent>
    <us-gaap:AssetsCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1026-wk-Fact-4B6DA37B9CBA1BEFD4F15D5D91049233"
      unitRef="usd">527940000</us-gaap:AssetsCurrent>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1046-wk-Fact-64306ED28AA8F0789DF35D5D910EC878"
      unitRef="usd">2192679000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1060-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A"
      unitRef="usd">1842500000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:InventoryRealEstate
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1081-wk-Fact-9A3BF23642834B18253F5D5D90FF91CC"
      unitRef="usd">96844000</us-gaap:InventoryRealEstate>
    <us-gaap:InventoryRealEstate
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1095-wk-Fact-9B1AA3C0CB1932F35B315D5D9117C8EE"
      unitRef="usd">101021000</us-gaap:InventoryRealEstate>
    <us-gaap:Goodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1115-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7"
      unitRef="usd">1709020000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1129-wk-Fact-1E5757440BA1793761D05D5D912357D0"
      unitRef="usd">1608206000</us-gaap:Goodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1149-wk-Fact-DD377BD21F5F9451264D5D5D910C0E19"
      unitRef="usd">314776000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1163-wk-Fact-6DCAF9E78621DF09FADF5D5D91223F2A"
      unitRef="usd">306173000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:OperatingLeaseRightOfUseAsset
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1183-wk-Fact-845E94B5ED82536275737F59A6EF5230"
      unitRef="usd">225744000</us-gaap:OperatingLeaseRightOfUseAsset>
    <us-gaap:OperatingLeaseRightOfUseAsset
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1197-wk-Fact-51BB3F4FA78E03B7C4B97F59A6F5D6C3"
      unitRef="usd">0</us-gaap:OperatingLeaseRightOfUseAsset>
    <us-gaap:OtherAssetsNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1217-wk-Fact-2818BEE8CA97EB6F94FC5D5D9113C425"
      unitRef="usd">40081000</us-gaap:OtherAssetsNoncurrent>
    <us-gaap:OtherAssetsNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1231-wk-Fact-22004EE3601B98B1C3A35D5D910991A8"
      unitRef="usd">40237000</us-gaap:OtherAssetsNoncurrent>
    <us-gaap:Assets
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1256-wk-Fact-3B997E1C4B38E77A68C15D5D9106BE5C"
      unitRef="usd">5244232000</us-gaap:Assets>
    <us-gaap:Assets
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1270-wk-Fact-563F9A09E751C53C2CE85D5D911F51B0"
      unitRef="usd">4426077000</us-gaap:Assets>
    <mtn:AccountsPayableAccruedLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1362-wk-Fact-AF4796D5942D1A3842C55D5D91118234"
      unitRef="usd">499108000</mtn:AccountsPayableAccruedLiabilities>
    <mtn:AccountsPayableAccruedLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1376-wk-Fact-7C83BC5D9511B39DFBFD5D5D911281E8"
      unitRef="usd">607857000</mtn:AccountsPayableAccruedLiabilities>
    <us-gaap:AccruedIncomeTaxesCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1391-wk-Fact-D6A8D659EA95289436BE5D5D911A07E3"
      unitRef="usd">40680000</us-gaap:AccruedIncomeTaxesCurrent>
    <us-gaap:AccruedIncomeTaxesCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1405-wk-Fact-EEE8D87E4C569868CA4B5D5D90FCA09B"
      unitRef="usd">62760000</us-gaap:AccruedIncomeTaxesCurrent>
    <us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1425-wk-Fact-19546FE03ED45D90D3325D5D910EC5FC"
      unitRef="usd">63677000</us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent>
    <us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1439-wk-Fact-DDBA9FF69F8B26EFA8B55D5D90FA727F"
      unitRef="usd">48516000</us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent>
    <us-gaap:LiabilitiesCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1460-wk-Fact-A9FEA4A1859EF57093B05D5D9105E4C5"
      unitRef="usd">603465000</us-gaap:LiabilitiesCurrent>
    <us-gaap:LiabilitiesCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1474-wk-Fact-CA948DC06FEAADCE28055D5D9108137F"
      unitRef="usd">719133000</us-gaap:LiabilitiesCurrent>
    <us-gaap:LongTermDebtAndCapitalLeaseObligations
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1494-wk-Fact-19E57F102F0CFDD234555D5D91226C1B"
      unitRef="usd">2387122000</us-gaap:LongTermDebtAndCapitalLeaseObligations>
    <us-gaap:LongTermDebtAndCapitalLeaseObligations
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1508-wk-Fact-8E48AFFEAFA2C496425D5D5D90FD45DD"
      unitRef="usd">1527744000</us-gaap:LongTermDebtAndCapitalLeaseObligations>
    <us-gaap:OperatingLeaseLiabilityNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1528-wk-Fact-6C7321B517FC5CDF0C1D7F5A23B662DE"
      unitRef="usd">217542000</us-gaap:OperatingLeaseLiabilityNoncurrent>
    <us-gaap:OperatingLeaseLiabilityNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1542-wk-Fact-606667C3BA14EBBB99DE7F5A23B0F184"
      unitRef="usd">0</us-gaap:OperatingLeaseLiabilityNoncurrent>
    <mtn:OtherLongTermLiabilitiesNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1562-wk-Fact-BA4612E83261F608F56D5D5D91080945"
      unitRef="usd">270245000</mtn:OtherLongTermLiabilitiesNoncurrent>
    <mtn:OtherLongTermLiabilitiesNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1576-wk-Fact-6AEC794DB971BD159FF35D5D9100CC2A"
      unitRef="usd">283601000</mtn:OtherLongTermLiabilitiesNoncurrent>
    <us-gaap:DeferredIncomeTaxLiabilitiesNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1596-wk-Fact-114304C0B2E26A31E5DF5D5D90FBA196"
      unitRef="usd">234191000</us-gaap:DeferredIncomeTaxLiabilitiesNet>
    <us-gaap:DeferredIncomeTaxLiabilitiesNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1610-wk-Fact-E1319DA49E4F72A375295D5D910AA429"
      unitRef="usd">168759000</us-gaap:DeferredIncomeTaxLiabilitiesNet>
    <us-gaap:Liabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1630-wk-Fact-21E0401361E5F25578085D5D910C10C4"
      unitRef="usd">3712565000</us-gaap:Liabilities>
    <us-gaap:Liabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1644-wk-Fact-B2DC32157DEB1249916E5D5D90FEC9FB"
      unitRef="usd">2699237000</us-gaap:Liabilities>
    <us-gaap:CommitmentsAndContingencies
      contextRef="FI2020Q4"
      id="d5417888e1664-wk-Fact-C93C700AA5203C154E1C5D5D910073FB"
      unitRef="usd"
      xsi:nil="true"/>
    <us-gaap:CommitmentsAndContingencies
      contextRef="FI2019Q4"
      id="d5417888e1677-wk-Fact-0B98445783167E48FA8A5D5D91021F2E"
      unitRef="usd"
      xsi:nil="true"/>
    <us-gaap:PreferredStockValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1732-wk-Fact-3FA1604994273EA87E285D5D911058BF"
      unitRef="usd">0</us-gaap:PreferredStockValue>
    <us-gaap:PreferredStockValue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1746-wk-Fact-EBEC740C7E8043894D875D5D9111BEBE"
      unitRef="usd">0</us-gaap:PreferredStockValue>
    <us-gaap:CommonStockValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1766-wk-Fact-024636271A54432E83E05D5D90F9B149"
      unitRef="usd">464000</us-gaap:CommonStockValue>
    <us-gaap:CommonStockValue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1780-wk-Fact-30932C3B7B82DF487C285D5D91181435"
      unitRef="usd">461000</us-gaap:CommonStockValue>
    <mtn:ExchangeableSharesValueIssued
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1800-wk-Fact-C4B4D0B27A52FC6F16B95D5D91120A08"
      unitRef="usd">0</mtn:ExchangeableSharesValueIssued>
    <mtn:ExchangeableSharesValueIssued
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1814-wk-Fact-BFBFA67D1228A86779B45D5D90FF598A"
      unitRef="usd">1000</mtn:ExchangeableSharesValueIssued>
    <us-gaap:AdditionalPaidInCapitalCommonStock
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1835-wk-Fact-D9F60916AA09C0D1DBBB5D5D90FCF07F"
      unitRef="usd">1131624000</us-gaap:AdditionalPaidInCapitalCommonStock>
    <us-gaap:AdditionalPaidInCapitalCommonStock
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1849-wk-Fact-89434B80AD52F29EEB5F5D5D9123D148"
      unitRef="usd">1130083000</us-gaap:AdditionalPaidInCapitalCommonStock>
    <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1869-wk-Fact-9A3D5ADE8CB75B13DE6C5D5D90FA22F7"
      unitRef="usd">-56837000</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
    <us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1884-wk-Fact-5DADF15668BF6E5DF9935D5D91141C45"
      unitRef="usd">-31730000</us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax>
    <us-gaap:RetainedEarningsAccumulatedDeficit
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1905-wk-Fact-DF38F747B7D8E2F835055D5D91139BFB"
      unitRef="usd">645902000</us-gaap:RetainedEarningsAccumulatedDeficit>
    <us-gaap:RetainedEarningsAccumulatedDeficit
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1919-wk-Fact-2378D72F8BE1158EF5905D5D910CFBCA"
      unitRef="usd">759801000</us-gaap:RetainedEarningsAccumulatedDeficit>
    <us-gaap:TreasuryStockValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1939-wk-Fact-65AEAFDEDEB96153DD4D5D5D9116EE90"
      unitRef="usd">404411000</us-gaap:TreasuryStockValue>
    <us-gaap:TreasuryStockValue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1954-wk-Fact-F861C69B64ED1A91B53E5D5D9120860C"
      unitRef="usd">357989000</us-gaap:TreasuryStockValue>
    <us-gaap:StockholdersEquity
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e1975-wk-Fact-E2B799DC7D8F59EFE5175D5D9108B92E"
      unitRef="usd">1316742000</us-gaap:StockholdersEquity>
    <us-gaap:StockholdersEquity
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e1989-wk-Fact-25C9681397B06D3E710E5D5D90FBDD23"
      unitRef="usd">1500627000</us-gaap:StockholdersEquity>
    <us-gaap:MinorityInterest
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e2009-wk-Fact-7E930BC96365F4863D7A5D5D9109FD40"
      unitRef="usd">214925000</us-gaap:MinorityInterest>
    <us-gaap:MinorityInterest
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e2023-wk-Fact-179FFA122BA7BD20586C5D5D910A0F9D"
      unitRef="usd">226213000</us-gaap:MinorityInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e2043-wk-Fact-28FF05C3DCB3166D07675D5D911E8F8F"
      unitRef="usd">1531667000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e2057-wk-Fact-963BFD0A3D164F5B7A405D5D910F0086"
      unitRef="usd">1726840000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:LiabilitiesAndStockholdersEquity
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5417888e2082-wk-Fact-4371FBC3D59588BC88B35D5D911D10B2"
      unitRef="usd">5244232000</us-gaap:LiabilitiesAndStockholdersEquity>
    <us-gaap:LiabilitiesAndStockholdersEquity
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5417888e2096-wk-Fact-443B4BFEAD3E43BDA7715D5D910E3541"
      unitRef="usd">4426077000</us-gaap:LiabilitiesAndStockholdersEquity>
    <mtn:MountainandLodgingservicesandotherrevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e856-wk-Fact-76F4ACE7E1828C63F7CD5D5D90D1A4BF"
      unitRef="usd">1578463000</mtn:MountainandLodgingservicesandotherrevenue>
    <mtn:MountainandLodgingservicesandotherrevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e870-wk-Fact-EF971618635C73161E815D5D918A5F43"
      unitRef="usd">1807930000</mtn:MountainandLodgingservicesandotherrevenue>
    <mtn:MountainandLodgingservicesandotherrevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e884-wk-Fact-0729FA34283BF612F9EA5D5D90D1A905"
      unitRef="usd">1584310000</mtn:MountainandLodgingservicesandotherrevenue>
    <mtn:MountainandLodgingretailanddiningrevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e899-wk-Fact-A05A2586D17D4927C87B5D5D91BD131F"
      unitRef="usd">380394000</mtn:MountainandLodgingretailanddiningrevenue>
    <mtn:MountainandLodgingretailanddiningrevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e913-wk-Fact-D1DCBE01077CE284D2FE5D5D91AF80A3"
      unitRef="usd">462933000</mtn:MountainandLodgingretailanddiningrevenue>
    <mtn:MountainandLodgingretailanddiningrevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e927-wk-Fact-F01C84565DE9879D50105D5D918E5BD1"
      unitRef="usd">423255000</mtn:MountainandLodgingretailanddiningrevenue>
    <mtn:ResortRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e947-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE"
      unitRef="usd">1958857000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e961-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B"
      unitRef="usd">2270863000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e975-wk-Fact-20C24236F537BF44B0EE5D5D918422F6"
      unitRef="usd">2007565000</mtn:ResortRevenueNet>
    <mtn:RealEstateRevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e995-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C"
      unitRef="usd">4847000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1009-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D"
      unitRef="usd">712000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1023-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08"
      unitRef="usd">3988000</mtn:RealEstateRevenue>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1043-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F"
      unitRef="usd">1963704000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1057-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC"
      unitRef="usd">2271575000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1071-wk-Fact-13BF56D36D16097543555D5D919C600C"
      unitRef="usd">2011553000</us-gaap:Revenues>
    <mtn:MountainandLodgingoperatingexpenses
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1142-wk-Fact-E8400279C8B877004B015D5D90E20D59"
      unitRef="usd">1019437000</mtn:MountainandLodgingoperatingexpenses>
    <mtn:MountainandLodgingoperatingexpenses
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1156-wk-Fact-C2D742A3A93AD30ECC3A5D5D90D33583"
      unitRef="usd">1101670000</mtn:MountainandLodgingoperatingexpenses>
    <mtn:MountainandLodgingoperatingexpenses
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1170-wk-Fact-43EE4808148929D8B40D5D5D90ED2BF0"
      unitRef="usd">966566000</mtn:MountainandLodgingoperatingexpenses>
    <mtn:MountainandLodgingcostofproductssold
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1190-wk-Fact-791E0FC7446B8CF8B33F5D5D917B5F6B"
      unitRef="usd">159066000</mtn:MountainandLodgingcostofproductssold>
    <mtn:MountainandLodgingcostofproductssold
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1204-wk-Fact-D1E5D9DAE6AB9CFA66A35D5D90D8BB18"
      unitRef="usd">190044000</mtn:MountainandLodgingcostofproductssold>
    <mtn:MountainandLodgingcostofproductssold
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1218-wk-Fact-A9BAEBED638AC2904EAD5D5D90D3C6F9"
      unitRef="usd">174105000</mtn:MountainandLodgingcostofproductssold>
    <mtn:MountainandLodginggeneralandadministrativeexpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1239-wk-Fact-FE9DBF4CDEC7E48D12595D5D91BCB593"
      unitRef="usd">278695000</mtn:MountainandLodginggeneralandadministrativeexpense>
    <mtn:MountainandLodginggeneralandadministrativeexpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1253-wk-Fact-A4F570159E021FAF11A75D5D90D50FD0"
      unitRef="usd">274415000</mtn:MountainandLodginggeneralandadministrativeexpense>
    <mtn:MountainandLodginggeneralandadministrativeexpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1267-wk-Fact-4B472591336A327326A95D5D91B9504C"
      unitRef="usd">251806000</mtn:MountainandLodginggeneralandadministrativeexpense>
    <mtn:ResortExpensesNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1287-wk-Fact-74E86C455965E566624C5D5D90D238CA"
      unitRef="usd">1457198000</mtn:ResortExpensesNet>
    <mtn:ResortExpensesNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1301-wk-Fact-8FC429A8B8A381D1418E5D5D91C15CCD"
      unitRef="usd">1566129000</mtn:ResortExpensesNet>
    <mtn:ResortExpensesNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1315-wk-Fact-DD0831EE75344C2AE9C25D5D91BD5E0D"
      unitRef="usd">1392477000</mtn:ResortExpensesNet>
    <mtn:RealEstateExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1335-wk-Fact-F1C84D4F112C138963A35D5D91A7F945"
      unitRef="usd">9182000</mtn:RealEstateExpense>
    <mtn:RealEstateExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1349-wk-Fact-7EAF9AB568E8FEE3E2C17F5EC6B52B61"
      unitRef="usd">5609000</mtn:RealEstateExpense>
    <mtn:RealEstateExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1363-wk-Fact-229EB45CEE10278BAF565D5D91B1D2BC"
      unitRef="usd">3546000</mtn:RealEstateExpense>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1383-wk-Fact-63195EA80CC4D450729B5D5D91B7AE2C"
      unitRef="usd">1466380000</mtn:OperatingCostsExpensesAndCostOfSales>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1397-wk-Fact-57CA93843081BEFFB1475D5D91BB8B40"
      unitRef="usd">1571738000</mtn:OperatingCostsExpensesAndCostOfSales>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1411-wk-Fact-21B037E5F06E214615495D5D90DCC13F"
      unitRef="usd">1396023000</mtn:OperatingCostsExpensesAndCostOfSales>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1482-wk-Fact-F4485E3233F0941E09F85D5D918BA840"
      unitRef="usd">249572000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1497-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1"
      unitRef="usd">218117000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1512-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E"
      unitRef="usd">204462000</us-gaap:DepreciationAndAmortization>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1533-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA"
      unitRef="usd">207000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1547-wk-Fact-051891509C1C988E4A3D5D5D91B3953E"
      unitRef="usd">580000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1561-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993"
      unitRef="usd">515000</mtn:GainOnSaleOfRealProperty>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1581-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B"
      unitRef="usd">28372000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1596-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1610-wk-Fact-FF6806CC8358D78074357F5F349F727A"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1630-wk-Fact-592260D8F722569C62AF5D5D90D3F18B"
      unitRef="usd">-2964000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1644-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E"
      unitRef="usd">5367000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1659-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8"
      unitRef="usd">-1854000</mtn:ChangeinFairValueofContingentConsideration>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1679-wk-Fact-0E672D5DA143D419508F5D5D91B15B97"
      unitRef="usd">838000</us-gaap:GainLossOnDispositionOfAssets>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1693-wk-Fact-2EB6EE263D796553A5F35D5D918983E7"
      unitRef="usd">-664000</us-gaap:GainLossOnDispositionOfAssets>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1708-wk-Fact-1BAF7613F6102F3967B45D5D91A43D90"
      unitRef="usd">-4620000</us-gaap:GainLossOnDispositionOfAssets>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1729-wk-Fact-6DEB8E23CF4F112214B55D5D91B08AE7"
      unitRef="usd">223389000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1743-wk-Fact-A64FCE6679D0CB76FAE65D5D90DD09F9"
      unitRef="usd">476269000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1757-wk-Fact-D7C7A1B68206BC4AA00F5D5D919A1F68"
      unitRef="usd">408817000</us-gaap:OperatingIncomeLoss>
    <us-gaap:InterestExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1778-wk-Fact-3DCFFCC3B6808C730D295D5D918AE373"
      unitRef="usd">106721000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1793-wk-Fact-FC772F1B7753BB9545A45D5D91B3CF46"
      unitRef="usd">79496000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1808-wk-Fact-5261758C4F75E6A002615D5D90DDDAA1"
      unitRef="usd">63226000</us-gaap:InterestExpense>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1829-wk-Fact-A3EFF628595036A1DFBC5D5D91B97307"
      unitRef="usd">1690000</mtn:MountainEquityInvestmentIncomeLossNet>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1843-wk-Fact-632AEA39C0B374BE9D495D5D90CF9E5B"
      unitRef="usd">1960000</mtn:MountainEquityInvestmentIncomeLossNet>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1857-wk-Fact-544889EAB6C42557F9215D5D917BEF7C"
      unitRef="usd">1523000</mtn:MountainEquityInvestmentIncomeLossNet>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1877-wk-Fact-B758075EEA82D3FD17B15D5D90D666ED"
      unitRef="usd">1305000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1891-wk-Fact-705C7CC30FA223900A9C5D5D91B2EF40"
      unitRef="usd">3086000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1905-wk-Fact-B4450D06176A074006365D5D9170158B"
      unitRef="usd">1944000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1925-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735"
      unitRef="usd">-3230000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1940-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B"
      unitRef="usd">-2854000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e1955-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2"
      unitRef="usd">-8966000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e1976-wk-Fact-B3778B60CAA905DEBAE05D5D90CED58E"
      unitRef="usd">116433000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e1990-wk-Fact-9BCBCFA1F4052CB2A2225D5D91BF0308"
      unitRef="usd">398965000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e2004-wk-Fact-0CF92A300F25E70668165D5D90D5020D"
      unitRef="usd">340092000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e2024-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56"
      unitRef="usd">7378000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e2039-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895"
      unitRef="usd">75472000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e2054-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7"
      unitRef="usd">-61138000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e2074-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e2088-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e2102-wk-Fact-1E65FF562F222C37D6D65D5D90D68289"
      unitRef="usd">401230000</us-gaap:ProfitLoss>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e2122-wk-Fact-4BC34695554512EEB0875D5D91B3F067"
      unitRef="usd">10222000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e2137-wk-Fact-54C4B4F7BF089BB8CD265D5D919C9E8C"
      unitRef="usd">22330000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e2152-wk-Fact-BF6DEC6DCFDA8C0335345D5D919E7139"
      unitRef="usd">21332000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5419874e2178-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5419874e2192-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5419874e2206-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5419874e2277-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED"
      unitRef="usdPerShare">2.45</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5419874e2291-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826"
      unitRef="usdPerShare">7.46</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5419874e2305-wk-Fact-E4FCB5427F5331C336895D5D918EFC6F"
      unitRef="usdPerShare">9.40</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5419874e2326-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641"
      unitRef="usdPerShare">2.42</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5419874e2340-wk-Fact-769B2B2962B5367305AD5D5D91863542"
      unitRef="usdPerShare">7.32</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5419874e2354-wk-Fact-1F695C41E87726FFE3755D5D90CC9562"
      unitRef="usdPerShare">9.13</us-gaap:EarningsPerShareDiluted>
    <us-gaap:CommonStockDividendsPerShareDeclared
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5419874e2374-wk-Fact-AB98F0B22607C62325C95D5D917D7FB7"
      unitRef="usdPerShare">5.28</us-gaap:CommonStockDividendsPerShareDeclared>
    <us-gaap:CommonStockDividendsPerShareDeclared
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5419874e2388-wk-Fact-39B4F8F3F019B2DFD24A5D5D918BC36E"
      unitRef="usdPerShare">6.46</us-gaap:CommonStockDividendsPerShareDeclared>
    <us-gaap:CommonStockDividendsPerShareDeclared
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5419874e2402-wk-Fact-C5F9B98C6032FC31E2E65D5D90CD0D91"
      unitRef="usdPerShare">5.046</us-gaap:CommonStockDividendsPerShareDeclared>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e806-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e820-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e834-wk-Fact-1E65FF562F222C37D6D65D5D90D68289"
      unitRef="usd">401230000</us-gaap:ProfitLoss>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e849-wk-Fact-3DB1C11483B97A2EA3CD5D5D9113A656"
      unitRef="usd">-9075000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e864-wk-Fact-E8459BA1F8F27C03A9605D5D910E8D89"
      unitRef="usd">-34287000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e879-wk-Fact-A71D8CDBE2C16397880F5D5D910EBDE7"
      unitRef="usd">-61957000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e900-wk-Fact-2F57283EA0675C62C4FC7F619565B644"
      unitRef="usd">22510000</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e915-wk-Fact-6E35FE10750D045885897F61956CA82D"
      unitRef="usd">0</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e929-wk-Fact-1369A7DF89410ACC996F7F6195777927"
      unitRef="usd">0</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e949-wk-Fact-494B19568CAA290856A55D5D91034D94"
      unitRef="usd">77470000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e963-wk-Fact-0A74BD5674D5253401AC5D5D910957D9"
      unitRef="usd">289206000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e977-wk-Fact-202E99116DA1F86E4E395D5D910BAE9D"
      unitRef="usd">339273000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e997-wk-Fact-EAE8342A62F32C0E873F5D5D9108C58C"
      unitRef="usd">3744000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e1012-wk-Fact-E29BC50D05D8C48C33DF5D5D91198445"
      unitRef="usd">17546000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e1027-wk-Fact-623E76B7102408A362415D5D90FF9073"
      unitRef="usd">5997000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5420432e1053-wk-Fact-970A4694DCD1953966ED5D5D9108444D"
      unitRef="usd">73726000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5420432e1067-wk-Fact-01C612CDC5557A91FCBF5D5D9108BC39"
      unitRef="usd">271660000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5420432e1081-wk-Fact-2EB1B40E25EDB74BD0215D5D90FFE56B"
      unitRef="usd">333276000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e1040-wk-Fact-64647AFF533E57FBF1505D5D913AFEA7"
      unitRef="usd">454000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="-3"
      id="d5427342e1054-wk-Fact-C6B30A41574E7D51C76E5D5D912D7FFC"
      unitRef="usd">1000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e1068-wk-Fact-D69B040CBDEB3574A9BF5D5D913E8985"
      unitRef="usd">1222510000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e1083-wk-Fact-99CC57EDA29C9C45DDA85D5D91384DF2"
      unitRef="usd">44395000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e1097-wk-Fact-B12A7FAFC398E9B93EF15D5D9140B193"
      unitRef="usd">550985000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e1111-wk-Fact-39C37D847D10CC8326B95D5D912DFA50"
      unitRef="usd">-247189000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e1126-wk-Fact-8355C973EF96EBE88C1C5D5D91457FC6"
      unitRef="usd">1571156000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e1141-wk-Fact-716225FC4490F524CEC15D5D913C19E0"
      unitRef="usd">227803000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2017Q4"
      decimals="-3"
      id="d5427342e1155-wk-Fact-9C77B634726E573EEF285D5D90F914D5"
      unitRef="usd">1798959000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e1370-wk-Fact-4C4168C46BC1574A2CC95D5D90FBA0CB"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e1398-wk-Fact-BF3A68611F5A91E555385D5D90FD1FCA"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e1413-wk-Fact-6FE065E2D6243877AEE65D5D91399305"
      unitRef="usd">21332000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:ProfitLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e1427-wk-Fact-1E65FF562F222C37D6D65D5D90D68289"
      unitRef="usd">401230000</us-gaap:ProfitLoss>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e1489-wk-Fact-3599E7E52AB7F6F30E6A5D5D913A26AE"
      unitRef="usd">-46622000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e1533-wk-Fact-AC5D9E21B36B59B3953D5D5D910E6101"
      unitRef="usd">-46622000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e1549-wk-Fact-BD527CB33DBD0FC202D55D5D9136A46D"
      unitRef="usd">-15335000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e1564-wk-Fact-A71D8CDBE2C16397880F5D5D910EBDE7"
      unitRef="usd">-61957000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e1676-wk-Fact-7754830F0BC2ED4AFEE45D5D911E2EC3"
      unitRef="usd">333276000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e1691-wk-Fact-134AD03BD51B5C1748705D5D9139E840"
      unitRef="usd">5997000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e1705-wk-Fact-202E99116DA1F86E4E395D5D910BAE9D"
      unitRef="usd">339273000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e1753-wk-Fact-8BE4A5A89268D28291035D5D910F65AE"
      unitRef="usd">19040000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e1810-wk-Fact-92CCCBD483D7C925915F5D5D91315573"
      unitRef="usd">19040000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e1839-wk-Fact-0437693C7D1635F02A905D5D910B4385"
      unitRef="usd">19040000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:GoodwillPurchaseAccountingAdjustments
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e1959-wk-Fact-124CDA7A0810DF19A9B27F68A7620671"
      unitRef="usd">-1776000</us-gaap:GoodwillPurchaseAccountingAdjustments>
    <us-gaap:GoodwillPurchaseAccountingAdjustments
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e1974-wk-Fact-372EAEA57A97588B3DF37F6A912AB4C3"
      unitRef="usd">-1776000</us-gaap:GoodwillPurchaseAccountingAdjustments>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e1995-wk-Fact-73D2E1211E81C4A946AF5D5D912B1936"
      unitRef="usd">-6000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e2023-wk-Fact-082540CB0F61402E61425D5D9107251E"
      unitRef="usd">104083000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e2081-wk-Fact-75E89F33799EED58AED45D5D90FFF6C1"
      unitRef="usd">104077000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e2111-wk-Fact-2572BD43F86F59C5D1095D5D912B2AC5"
      unitRef="usd">104077000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e2203-wk-Fact-F72DF50B1108A8355FBA5D5D91023A89"
      unitRef="usd">25800000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e2218-wk-Fact-84D086CB137D9A6CE5B35D5D911EF03E"
      unitRef="usd">25800000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e2248-wk-Fact-1EC8ED04DD4E457599DF5D5D9108EAB2"
      unitRef="usd">25800000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:DividendsCommonStock
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e2327-wk-Fact-A41910E372255CD38ABE5D5D9144791A"
      unitRef="usd">204161000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e2356-wk-Fact-7CB5AD4193CE07E4AE6A5D5D910CD001"
      unitRef="usd">204161000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e2386-wk-Fact-E575EF4F9FA035A143A25D5D91482AD1"
      unitRef="usd">204161000</us-gaap:DividendsCommonStock>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2018Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e2507-wk-Fact-E786CAF851F27D48975D5D5D911306FD"
      unitRef="usd">9795000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5427342e2522-wk-Fact-A5ECE22F7C331922E4A95D5D916E2B40"
      unitRef="usd">9795000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e2543-wk-Fact-5723616185F1EC9B7C9E5D5D913847B1"
      unitRef="usd">460000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="-3"
      id="d5427342e2557-wk-Fact-B5DD503D1282F965BF495D5D90FD40CE"
      unitRef="usd">1000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e2571-wk-Fact-187F618AED66D91F38785D5D91036172"
      unitRef="usd">1137467000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e2585-wk-Fact-C6538D12DD4653BE927E5D5D9137D265"
      unitRef="usd">-2227000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e2601-wk-Fact-E9ABBBBA03F8F41487A65D5D912D06BC"
      unitRef="usd">726722000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e2615-wk-Fact-427C9E4E8D18CD90F5DE5D5D9136E4C8"
      unitRef="usd">-272989000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e2630-wk-Fact-7D8197F64F331B5CFD3D5D5D912C8CB6"
      unitRef="usd">1589434000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e2645-wk-Fact-A0F3FCFE28B98FE521725D5D90FC7FAA"
      unitRef="usd">222229000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5427342e2659-wk-Fact-E3F78DB7B264357F85525D5D910B056E"
      unitRef="usd">1811663000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e2879-wk-Fact-591BBAD8CF569E4F303A5D5D913CEE41"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e2907-wk-Fact-66E61D75320D1487D1995D5D91396544"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e2922-wk-Fact-3EA67428F8C88B9DC1B65D5D912BCA6D"
      unitRef="usd">22330000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e2936-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e2998-wk-Fact-1977E2082BC24A204CDE5D5D914288BB"
      unitRef="usd">-29503000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3042-wk-Fact-F994C3866957BDB1DC305D5D90F70370"
      unitRef="usd">-29503000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e3058-wk-Fact-EA79EBCB055B129032FA5D5D911F71FA"
      unitRef="usd">-4784000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3073-wk-Fact-E8459BA1F8F27C03A9605D5D910E8D89"
      unitRef="usd">-34287000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3185-wk-Fact-D7ECF1EBC44E8599DA0A5D5D911E9ABB"
      unitRef="usd">271660000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e3200-wk-Fact-5025B10ED3456A81A6B15D5D9100D5B7"
      unitRef="usd">17546000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3214-wk-Fact-0A74BD5674D5253401AC5D5D910957D9"
      unitRef="usd">289206000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e3262-wk-Fact-9E33FE4960D675E0E7075D5D90F878FA"
      unitRef="usd">19856000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3319-wk-Fact-115C382E053ECCA189005D5D913C922B"
      unitRef="usd">19856000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3348-wk-Fact-F6FCCE9802CB87E2BF345D5D91117FD1"
      unitRef="usd">19856000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e3425-wk-Fact-5C4941856C71240CFB007F705C45A988"
      unitRef="usd">-7517000</mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings>
    <mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3454-wk-Fact-83E9D2A6ED163FE46DF47F707173B1CA"
      unitRef="usd">-7517000</mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings>
    <mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3484-wk-Fact-9C70828B51C55944C9AD5D5D91400463"
      unitRef="usd">-7517000</mtn:RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e3505-wk-Fact-7139BE0337171ADD37DB5D5D91360273"
      unitRef="usd">-1000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e3533-wk-Fact-19D6A803F2562D92DF995D5D91044920"
      unitRef="usd">27240000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3591-wk-Fact-E1A1A32F3F139E177A385D5D913B7C69"
      unitRef="usd">27239000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3621-wk-Fact-7A197E0424BA9721788C5D5D9142D73B"
      unitRef="usd">27239000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e3713-wk-Fact-69C523C0D3F6609C63DB5D5D90FC4249"
      unitRef="usd">85000000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3728-wk-Fact-52E50EC8AE000634EBE35D5D90FEA21F"
      unitRef="usd">85000000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3758-wk-Fact-FC8016855D83F991A9435D5D911E432B"
      unitRef="usd">85000000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:DividendsCommonStock
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e3837-wk-Fact-89D72ED7A2520F3980D45D5D913CF864"
      unitRef="usd">260567000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e3866-wk-Fact-38AA62F7135ED29B2FC55D5D9131C7F6"
      unitRef="usd">260567000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e3896-wk-Fact-50D56635527C1C3C137C5D5D90F75202"
      unitRef="usd">260567000</us-gaap:DividendsCommonStock>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2019Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e4017-wk-Fact-54F2FB3193D04AD5FB715D5D9105B834"
      unitRef="usd">13562000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5427342e4032-wk-Fact-7F5E503765AB91121A515D5D91093E68"
      unitRef="usd">13562000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e4053-wk-Fact-BD0C9023130B9943F3745D5D911A1DC0"
      unitRef="usd">461000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="-3"
      id="d5427342e4067-wk-Fact-D996F1E6CBA976F627845D5D913CF32C"
      unitRef="usd">1000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e4081-wk-Fact-0335105EC35184E59DBD5D5D91117668"
      unitRef="usd">1130083000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e4095-wk-Fact-C75D2BD5838F30A753455D5D90FB4E40"
      unitRef="usd">-31730000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e4111-wk-Fact-94F50115DC3E062303B15D5D90FCB6C8"
      unitRef="usd">759801000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e4125-wk-Fact-2C94B1A505AE9A791BE85D5D911A92FE"
      unitRef="usd">-357989000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4140-wk-Fact-82D240CF05EFDCAC0AB85D5D914F3994"
      unitRef="usd">1500627000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e4155-wk-Fact-4FBE0D68DF718EC5D8F65D5D910E220E"
      unitRef="usd">226213000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5427342e4169-wk-Fact-963BFD0A3D164F5B7A405D5D910F0086"
      unitRef="usd">1726840000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e4389-wk-Fact-56BC81396E41EFCF57F95D5D910002B7"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4417-wk-Fact-726A6F5C381FD747B33F5D5D912C5D17"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e4432-wk-Fact-5A93BAB44438561EA16F5D5D911CAA99"
      unitRef="usd">10222000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e4446-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e4508-wk-Fact-E899AA03E65F229335205D5D913AC926"
      unitRef="usd">-2597000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4552-wk-Fact-7986C3F6FE00EDA0338F5D5D90FC8DDF"
      unitRef="usd">-2597000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e4568-wk-Fact-DC3C47909BF6DB159C3D5D5D9119BBE0"
      unitRef="usd">-6478000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e4583-wk-Fact-3DB1C11483B97A2EA3CD5D5D9113A656"
      unitRef="usd">-9075000</us-gaap:OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e4646-wk-Fact-5417BD4789C875C0D6407F715D9AD40B"
      unitRef="usd">22510000</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4690-wk-Fact-4B4E7DDEF4EC07D94A277F7170B1D17E"
      unitRef="usd">22510000</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e4720-wk-Fact-2F57283EA0675C62C4FC7F619565B644"
      unitRef="usd">22510000</us-gaap:OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent>
    <us-gaap:ComprehensiveIncomeNetOfTax
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4832-wk-Fact-76BC621A28203B3423FE5D5D9130C738"
      unitRef="usd">73726000</us-gaap:ComprehensiveIncomeNetOfTax>
    <us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e4847-wk-Fact-2E764DA2FD11C25F953D5D5D913ECEF1"
      unitRef="usd">3744000</us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest>
    <us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e4861-wk-Fact-494B19568CAA290856A55D5D91034D94"
      unitRef="usd">77470000</us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e4909-wk-Fact-E693ABA6EACAA94CCFF25D5D910B628A"
      unitRef="usd">21021000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e4966-wk-Fact-1EBB7C073F408DD7AF2D5D5D910ABA92"
      unitRef="usd">21021000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e4995-wk-Fact-6AD88D0AD55C1CC1F7C95D5D90FA83D9"
      unitRef="usd">21021000</us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e5015-wk-Fact-6EA86F0F0E428888CBA55D5D9105063D"
      unitRef="usd">-2000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e5043-wk-Fact-4DEBF825772B62DABBDC5D5D91245423"
      unitRef="usd">19480000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e5101-wk-Fact-C3D64FE2B93A465F77CE5D5D912C9B96"
      unitRef="usd">19478000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e5131-wk-Fact-869F842E37AA7F48807D5D5D912EB6C9"
      unitRef="usd">19478000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
    <mtn:ExchangeableSharesTransfer
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e5152-wk-Fact-6F9009D08BC640495C1E7F7207DBC1D1"
      unitRef="usd">1000</mtn:ExchangeableSharesTransfer>
    <mtn:ExchangeableSharesTransfer
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="-3"
      id="d5427342e5166-wk-Fact-50870B96F1EA88C93EA87F7208165760"
      unitRef="usd">-1000</mtn:ExchangeableSharesTransfer>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e5359-wk-Fact-DD3C781A7809699CD0C45D5D913F92CE"
      unitRef="usd">46422000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e5374-wk-Fact-162D7B1599496E97E8FA5D5D91014518"
      unitRef="usd">46422000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:StockRepurchasedDuringPeriodValue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e5404-wk-Fact-20C348DCF0B7344029555D5D910AB6E6"
      unitRef="usd">46422000</us-gaap:StockRepurchasedDuringPeriodValue>
    <us-gaap:DividendsCommonStock
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e5482-wk-Fact-FD69F66D79396A0874D05D5D910552E2"
      unitRef="usd">212732000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e5511-wk-Fact-D6F4B78D974E2288272D5D5D913A095E"
      unitRef="usd">212732000</us-gaap:DividendsCommonStock>
    <us-gaap:DividendsCommonStock
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e5541-wk-Fact-CCD4187CB0849B64E50F5D5D91129261"
      unitRef="usd">212732000</us-gaap:DividendsCommonStock>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2020Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e5662-wk-Fact-208EBAD8686CED6A14DD5D5D91097113"
      unitRef="usd">15032000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5427342e5677-wk-Fact-03C946A907BF919DF3225D5D9134C059"
      unitRef="usd">15032000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="-3"
      id="d5427342e5703-wk-Fact-607A18F40142CBDED9955D5D91227383"
      unitRef="usd">464000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="-3"
      id="d5427342e5717-wk-Fact-4245A5BA8CDC4F04B13F5D5D9131EF63"
      unitRef="usd">0</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember"
      decimals="-3"
      id="d5427342e5731-wk-Fact-180A3930B07D4C71F4F15D5D912C26D4"
      unitRef="usd">1131624000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AccumulatedOtherComprehensiveIncomeMember"
      decimals="-3"
      id="d5427342e5746-wk-Fact-2E0542F789E55083700E5D5D910C355A"
      unitRef="usd">-56837000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember"
      decimals="-3"
      id="d5427342e5761-wk-Fact-9672039B151CC83094E25D5D9153B979"
      unitRef="usd">645902000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_TreasuryStockMember"
      decimals="-3"
      id="d5427342e5775-wk-Fact-605AF189F1564719066B5D5D912C06DD"
      unitRef="usd">-404411000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_mtn_TotalVailResortsIncStockholdersEquityMember"
      decimals="-3"
      id="d5427342e5790-wk-Fact-A5C1D95A8C279D95C8BC5D5D90FABF5F"
      unitRef="usd">1316742000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember"
      decimals="-3"
      id="d5427342e5805-wk-Fact-6BB43B788FE5D2965F195D5D9110CC3D"
      unitRef="usd">214925000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5427342e5819-wk-Fact-28FF05C3DCB3166D07675D5D911E8F8F"
      unitRef="usd">1531667000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e855-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e869-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e883-wk-Fact-1E65FF562F222C37D6D65D5D90D68289"
      unitRef="usd">401230000</us-gaap:ProfitLoss>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e949-wk-Fact-F4485E3233F0941E09F85D5D918BA840"
      unitRef="usd">249572000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e963-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1"
      unitRef="usd">218117000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e977-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E"
      unitRef="usd">204462000</us-gaap:DepreciationAndAmortization>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e997-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B"
      unitRef="usd">28372000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1011-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1025-wk-Fact-FF6806CC8358D78074357F5F349F727A"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <mtn:RealEstateCostofSales
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1045-wk-Fact-5DDD257A687AA1A15E5F5D5D912D3EE0"
      unitRef="usd">3684000</mtn:RealEstateCostofSales>
    <mtn:RealEstateCostofSales
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1059-wk-Fact-0474ED00AF7E994DFA295D5D914CBB75"
      unitRef="usd">0</mtn:RealEstateCostofSales>
    <mtn:RealEstateCostofSales
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1073-wk-Fact-577319B939E75931C2C35D5D9164C1DD"
      unitRef="usd">3701000</mtn:RealEstateCostofSales>
    <us-gaap:ShareBasedCompensation
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1093-wk-Fact-5339FE96C09F9D845D8F5D5D91308547"
      unitRef="usd">21021000</us-gaap:ShareBasedCompensation>
    <us-gaap:ShareBasedCompensation
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1107-wk-Fact-A72CAA0FCC4E7B0AC1EB5D5D91593F4F"
      unitRef="usd">19856000</us-gaap:ShareBasedCompensation>
    <us-gaap:ShareBasedCompensation
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1121-wk-Fact-98B653CBBB56B5B39AAF5D5D91403069"
      unitRef="usd">19040000</us-gaap:ShareBasedCompensation>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1141-wk-Fact-7877822F15C46F7E87385D5D9132C8E5"
      unitRef="usd">17435000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1155-wk-Fact-B7ED194DE7ACC74EC7D25D5D914FCCCB"
      unitRef="usd">22419000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1169-wk-Fact-58B11254C90EA7781CDB5D5D913F22AA"
      unitRef="usd">-45770000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:AccretionExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1190-wk-Fact-7C18D89B84F1714E29F85D5D915877A5"
      unitRef="usd">5773000</us-gaap:AccretionExpense>
    <us-gaap:AccretionExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1204-wk-Fact-D8EC340B956E65A041285D5D912D0B75"
      unitRef="usd">5752000</us-gaap:AccretionExpense>
    <us-gaap:AccretionExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1218-wk-Fact-ECEB2D64EBD8A080591E5D5D913B18F4"
      unitRef="usd">5723000</us-gaap:AccretionExpense>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1239-wk-Fact-592260D8F722569C62AF5D5D90D3F18B"
      unitRef="usd">-2964000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1254-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E"
      unitRef="usd">5367000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1268-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8"
      unitRef="usd">-1854000</mtn:ChangeinFairValueofContingentConsideration>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1289-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735"
      unitRef="usd">-3230000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1303-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B"
      unitRef="usd">-2854000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1317-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2"
      unitRef="usd">-8966000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1337-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA"
      unitRef="usd">207000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1352-wk-Fact-051891509C1C988E4A3D5D5D91B3953E"
      unitRef="usd">580000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1367-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993"
      unitRef="usd">515000</mtn:GainOnSaleOfRealProperty>
    <us-gaap:OtherNoncashIncome
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1388-wk-Fact-2BE5E28A1038277F376E5D5D915D03A8"
      unitRef="usd">16674000</us-gaap:OtherNoncashIncome>
    <us-gaap:OtherNoncashIncome
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1403-wk-Fact-7305F3378BAE2D178AD45D5D9137F13F"
      unitRef="usd">13875000</us-gaap:OtherNoncashIncome>
    <us-gaap:OtherNoncashIncome
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1418-wk-Fact-7B6DF478412D1D5135565D5D916E9AB7"
      unitRef="usd">13784000</us-gaap:OtherNoncashIncome>
    <us-gaap:IncreaseDecreaseInAccountsReceivable
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1490-wk-Fact-A46B164465133E67769C5D5D915B0C55"
      unitRef="usd">-167347000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInAccountsReceivable
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1504-wk-Fact-68106DA3E79F7BF6883E5D5D91509BA1"
      unitRef="usd">35406000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInAccountsReceivable
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1519-wk-Fact-185072E263FD1ACAD6B35D5D9148E25D"
      unitRef="usd">44261000</us-gaap:IncreaseDecreaseInAccountsReceivable>
    <us-gaap:IncreaseDecreaseInInventories
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1540-wk-Fact-2AF32348FB9BC9C75F605D5D9166E84E"
      unitRef="usd">1924000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInInventories
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1555-wk-Fact-2AA6BC01DBAB0A1BE03D5D5D91755135"
      unitRef="usd">7274000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInInventories
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1570-wk-Fact-7A3AABCD908878B3F4A05D5D91626CC0"
      unitRef="usd">963000</us-gaap:IncreaseDecreaseInInventories>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1591-wk-Fact-1AAF563D015C46D4A1855D5D9174D829"
      unitRef="usd">-82394000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1606-wk-Fact-81BBDDF972BBEC6CA8C15D5D913FCBA8"
      unitRef="usd">23296000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1620-wk-Fact-DAA265AE427DF162409A5D5D9140F8D5"
      unitRef="usd">1879000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
    <us-gaap:IncreaseDecreaseInDeferredRevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1640-wk-Fact-5EC202FA50A03EECD6EC5D5D91379AC8"
      unitRef="usd">-98003000</us-gaap:IncreaseDecreaseInDeferredRevenue>
    <us-gaap:IncreaseDecreaseInDeferredRevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1655-wk-Fact-FA116EF2CC61DD3062AE5D5D914D9528"
      unitRef="usd">35628000</us-gaap:IncreaseDecreaseInDeferredRevenue>
    <us-gaap:IncreaseDecreaseInDeferredRevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1669-wk-Fact-CC728CA01F75854C83C65D5D9145F4B9"
      unitRef="usd">42007000</us-gaap:IncreaseDecreaseInDeferredRevenue>
    <us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1689-wk-Fact-7ED76101C90364FBBE5D5D5D91536884"
      unitRef="usd">8236000</us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities>
    <us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1704-wk-Fact-6D8FEF4248636E4DE1EE5D5D9167D70F"
      unitRef="usd">12932000</us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities>
    <us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1719-wk-Fact-7AC24C5442920F0232685D5D9164DAE1"
      unitRef="usd">71077000</us-gaap:ExcessTaxBenefitFromShareBasedCompensationOperatingActivities>
    <us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1740-wk-Fact-1F909C0158B2F4DA9F655D5D9156731B"
      unitRef="usd">-4951000</us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable>
    <us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1755-wk-Fact-0F53F08F8A53ED34AD735D5D9172C0F3"
      unitRef="usd">38773000</us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable>
    <us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1769-wk-Fact-1C8D8F32A5D7F470AE3D5D5D9177803E"
      unitRef="usd">38453000</us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable>
    <us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1790-wk-Fact-78C2D68B7D52EA16A40A5D5D916E37F9"
      unitRef="usd">-4814000</us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>
    <us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1804-wk-Fact-3A223E325B10E9AE908D5D5D9163D3E2"
      unitRef="usd">-8743000</us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>
    <us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1818-wk-Fact-1C596304A3BA32BCA65A5D5D915A541F"
      unitRef="usd">-1249000</us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1838-wk-Fact-463CE1C3EC5D36800F3D5D5D9175AD9B"
      unitRef="usd">394950000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1852-wk-Fact-E3D2A0FF3FFF1684E8215D5D914C431D"
      unitRef="usd">634231000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:NetCashProvidedByUsedInOperatingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1866-wk-Fact-D5A61F4042F4899846005D5D91426B4D"
      unitRef="usd">548486000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
    <us-gaap:PaymentsToAcquireProductiveAssets
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1937-wk-Fact-265805A8F86E1DD9646A5D5D914BB247"
      unitRef="usd">172334000</us-gaap:PaymentsToAcquireProductiveAssets>
    <us-gaap:PaymentsToAcquireProductiveAssets
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e1952-wk-Fact-547141393918433897A15D5D91403F4F"
      unitRef="usd">192035000</us-gaap:PaymentsToAcquireProductiveAssets>
    <us-gaap:PaymentsToAcquireProductiveAssets
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e1967-wk-Fact-016AC85666403ED4B9E95D5D912E0E5C"
      unitRef="usd">140611000</us-gaap:PaymentsToAcquireProductiveAssets>
    <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e1988-wk-Fact-010FC323C31ECA01E33A5D5D9131282D"
      unitRef="usd">327555000</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
    <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2003-wk-Fact-21898F1686222D2AFB9E5D5D9133A728"
      unitRef="usd">419044000</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
    <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2018-wk-Fact-635CB52F0E4BF5AAA1AA5D5D913AFA17"
      unitRef="usd">1356000</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
    <us-gaap:PaymentsForProceedsFromOtherInvestingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2039-wk-Fact-CEEA694652EABE16AA265D5D916B158E"
      unitRef="usd">-7150000</us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
    <us-gaap:PaymentsForProceedsFromOtherInvestingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2053-wk-Fact-69CDE07063AD21DABA665D5D913ABB35"
      unitRef="usd">-15045000</us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
    <us-gaap:PaymentsForProceedsFromOtherInvestingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2067-wk-Fact-16CB0564F7AD6C378A6C5D5D9177A180"
      unitRef="usd">-7388000</us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2087-wk-Fact-CF4008F1A7C19FF0281B5D5D9162C37C"
      unitRef="usd">-492739000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2102-wk-Fact-BCF5FED6936C57E539BF5D5D913B58DE"
      unitRef="usd">-596034000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:NetCashProvidedByUsedInInvestingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2117-wk-Fact-B275A9E4C859E377CCBF5D5D9157BF88"
      unitRef="usd">-134579000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
    <us-gaap:ProceedsFromLinesOfCredit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2189-wk-Fact-D7AAB3B338117961A9F55D5D913F072B"
      unitRef="usd">892625000</us-gaap:ProceedsFromLinesOfCredit>
    <us-gaap:ProceedsFromLinesOfCredit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2203-wk-Fact-108CC985ADD0177BDF765D5D9141C009"
      unitRef="usd">543625000</us-gaap:ProceedsFromLinesOfCredit>
    <us-gaap:ProceedsFromLinesOfCredit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2217-wk-Fact-A545D91675B9437C284C5D5D917A551E"
      unitRef="usd">225000000</us-gaap:ProceedsFromLinesOfCredit>
    <mtn:ProceedsfromWhistlerCreditAgreementrevolver
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2237-wk-Fact-1F7E9AE2C25FE0DF71765D5D91304BDF"
      unitRef="usd">209634000</mtn:ProceedsfromWhistlerCreditAgreementrevolver>
    <mtn:ProceedsfromWhistlerCreditAgreementrevolver
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2251-wk-Fact-D5D09DDB5A3D34A621865D5D91301376"
      unitRef="usd">26518000</mtn:ProceedsfromWhistlerCreditAgreementrevolver>
    <mtn:ProceedsfromWhistlerCreditAgreementrevolver
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2265-wk-Fact-49DD8D04A3FE19AEBF175D5D916F50BD"
      unitRef="usd">46513000</mtn:ProceedsfromWhistlerCreditAgreementrevolver>
    <us-gaap:ProceedsFromNotesPayable
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2285-wk-Fact-7EB20C013F6024A6A4ED807420AB1CD5"
      unitRef="usd">600000000</us-gaap:ProceedsFromNotesPayable>
    <us-gaap:ProceedsFromNotesPayable
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2299-wk-Fact-D76D0498684DA18A2E16807420B57ED2"
      unitRef="usd">0</us-gaap:ProceedsFromNotesPayable>
    <us-gaap:ProceedsFromNotesPayable
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2313-wk-Fact-E4FB35CD4025D584F20A807420A5E1AD"
      unitRef="usd">0</us-gaap:ProceedsFromNotesPayable>
    <mtn:RepaymentsofTermLoan
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2334-wk-Fact-6B318AE12A4759C776115D5D913C1D95"
      unitRef="usd">811875000</mtn:RepaymentsofTermLoan>
    <mtn:RepaymentsofTermLoan
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2349-wk-Fact-C8FC8CAEAADFA9FE5E3D5D5D914558C4"
      unitRef="usd">235625000</mtn:RepaymentsofTermLoan>
    <mtn:RepaymentsofTermLoan
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2364-wk-Fact-DD6DD312DEB8FC54E6345D5D9163756F"
      unitRef="usd">182500000</mtn:RepaymentsofTermLoan>
    <mtn:RepaymentsofWhistlerCreditAgreementrevolver
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2385-wk-Fact-9D6FF700F53AF4FB0FE65D5D91434432"
      unitRef="usd">204032000</mtn:RepaymentsofWhistlerCreditAgreementrevolver>
    <mtn:RepaymentsofWhistlerCreditAgreementrevolver
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2400-wk-Fact-6424850C1370C29B99105D5D91396BB9"
      unitRef="usd">45060000</mtn:RepaymentsofWhistlerCreditAgreementrevolver>
    <mtn:RepaymentsofWhistlerCreditAgreementrevolver
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2415-wk-Fact-B4ED1FB897858F3B47C05D5D916DFF90"
      unitRef="usd">91941000</mtn:RepaymentsofWhistlerCreditAgreementrevolver>
    <us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2436-wk-Fact-CDC6EB6D70EA6816C7215D5D9142DC24"
      unitRef="usd">19478000</us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation>
    <us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2451-wk-Fact-EEA54049BFA529A64F995D5D9171FD91"
      unitRef="usd">27239000</us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation>
    <us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2466-wk-Fact-29CA10E90890021E51E55D5D91472D16"
      unitRef="usd">104077000</us-gaap:PaymentsRelatedToTaxWithholdingForShareBasedCompensation>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2487-wk-Fact-1EB5EBD0FA3CB529389C5D5D9174B338"
      unitRef="usd">46422000</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2502-wk-Fact-AFE0F0F069D2293C71DF5D5D913288FF"
      unitRef="usd">85000000</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2517-wk-Fact-2B320F7E6B6390301EF25D5D91791DB6"
      unitRef="usd">25800000</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:PaymentsOfDividends
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2538-wk-Fact-6C043DD1BF8681B570CF5D5D91538F07"
      unitRef="usd">212732000</us-gaap:PaymentsOfDividends>
    <us-gaap:PaymentsOfDividends
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2553-wk-Fact-31206A39E6AB22EBA9FF5D5D915DFAEE"
      unitRef="usd">260567000</us-gaap:PaymentsOfDividends>
    <us-gaap:PaymentsOfDividends
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2568-wk-Fact-9E346AF3EF847EE4D2785D5D9152526F"
      unitRef="usd">204161000</us-gaap:PaymentsOfDividends>
    <us-gaap:ProceedsFromPaymentsForOtherFinancingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2589-wk-Fact-806E81B861888523F2275D5D913AB6E9"
      unitRef="usd">-31487000</us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
    <us-gaap:ProceedsFromPaymentsForOtherFinancingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2604-wk-Fact-BB4868E27457C7797E2B5D5D9154B614"
      unitRef="usd">-16210000</us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
    <us-gaap:ProceedsFromPaymentsForOtherFinancingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2619-wk-Fact-397F5BE6222641EB51D95D5D91441DD9"
      unitRef="usd">-13749000</us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2640-wk-Fact-98E7326D6C5ED5503EA65D5D9139A6AA"
      unitRef="usd">376233000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2654-wk-Fact-1F467F04B3B2236AAD3F5D5D9148F7DA"
      unitRef="usd">-99558000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:NetCashProvidedByUsedInFinancingActivities
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2669-wk-Fact-B9C61229C5234409AADD5D5D9149DF6D"
      unitRef="usd">-350715000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
    <us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2690-wk-Fact-2D295D7865D76765D11B5D5D912D7074"
      unitRef="usd">5253000</us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2704-wk-Fact-0BDB72D9CF647D49448A5D5D91713BB7"
      unitRef="usd">-5290000</us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2719-wk-Fact-611EF7511D6B7871F04C5D5D915892F7"
      unitRef="usd">-5814000</us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2740-wk-Fact-25E88880FB964340F0EC5D5D915E0071"
      unitRef="usd">283697000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2754-wk-Fact-3D1622DFEB60292675445D5D91517719"
      unitRef="usd">-66651000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2769-wk-Fact-79F8AB5728440362B5765D5D916F8E20"
      unitRef="usd">57378000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5428949e2845-wk-Fact-C09A4034AA64DFD4094E5D5D9149079E"
      unitRef="usd">118389000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5428949e2859-wk-Fact-C7F010408BB1DBED0D325D5D916B9391"
      unitRef="usd">185040000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2017Q4"
      decimals="-3"
      id="d5428949e2873-wk-Fact-8D74C9E279E100D39AD85D5D915A02EE"
      unitRef="usd">127662000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5428949e2894-wk-Fact-68074BF42450A0AD43375D5D914EC43C"
      unitRef="usd">402086000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5428949e2908-wk-Fact-C09A4034AA64DFD4094E5D5D9149079E"
      unitRef="usd">118389000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5428949e2922-wk-Fact-C7F010408BB1DBED0D325D5D916B9391"
      unitRef="usd">185040000</us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>
    <us-gaap:InterestPaidNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2942-wk-Fact-547AFD9B0E27BCEFD7BE5D5D9142BDA0"
      unitRef="usd">88398000</us-gaap:InterestPaidNet>
    <us-gaap:InterestPaidNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e2956-wk-Fact-2367B04E56886595ADF35D5D9173EBCB"
      unitRef="usd">70888000</us-gaap:InterestPaidNet>
    <us-gaap:InterestPaidNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e2970-wk-Fact-9E9688B5E7558E33F7065D5D916D184F"
      unitRef="usd">53842000</us-gaap:InterestPaidNet>
    <us-gaap:IncomeTaxesPaid
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e2990-wk-Fact-48A5E0DA7F35E0D0BB0C5D5D916D513D"
      unitRef="usd">4134000</us-gaap:IncomeTaxesPaid>
    <us-gaap:IncomeTaxesPaid
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e3004-wk-Fact-7010FC4096F224C7FF335D5D913CFD82"
      unitRef="usd">27212000</us-gaap:IncomeTaxesPaid>
    <us-gaap:IncomeTaxesPaid
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e3018-wk-Fact-4D6E1224819895A205225D5D915418FB"
      unitRef="usd">16945000</us-gaap:IncomeTaxesPaid>
    <us-gaap:CapitalExpendituresIncurredButNotYetPaid
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5428949e3089-wk-Fact-888BB2E57F58B45163C08074692E3BB6"
      unitRef="usd">15046000</us-gaap:CapitalExpendituresIncurredButNotYetPaid>
    <us-gaap:CapitalExpendituresIncurredButNotYetPaid
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5428949e3103-wk-Fact-FDA9282FC924C8F30796807465F0434B"
      unitRef="usd">18420000</us-gaap:CapitalExpendituresIncurredButNotYetPaid>
    <us-gaap:CapitalExpendituresIncurredButNotYetPaid
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5428949e3117-wk-Fact-EB184807B6AD470141E28074692AE569"
      unitRef="usd">15638000</us-gaap:CapitalExpendituresIncurredButNotYetPaid>
    <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-A63B1BE7BFF136E9CB4A5D5D91D848D6-0-wk-Fact-0C229122E743512269E25D5D91B3D068">&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Organization and Business&lt;/span&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Resorts, Inc. (&#x201c;Vail Resorts&#x201d;) is organized as a holding company and operates through various subsidiaries. Vail Resorts and its subsidiaries (collectively, the &#x201c;Company&#x201d;) operate in three business segments: Mountain, Lodging and Real Estate. The Company refers to &#x201c;Resort&#x201d; as the combination of the Mountain and Lodging segments. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In the Mountain segment, the Company operates the following 37 destination mountain resorts and regional ski areas:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;"&gt;&lt;img alt="vrmapfy20.jpg" src="vrmapfy20.jpg" style="height:450px;width:682px;"/&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;*Denotes a destination mountain resort, which generally receives a meaningful portion of skier visits from long-distance travelers, as opposed to the Company&#x2019;s regional ski areas, which tend to generate skier visits predominantly from their respective local markets. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations, and for the Company&#x2019;s Australian ski areas, including lodging and transportation operations. Several of the resorts located in the United States (&#x201c;U.S.&#x201d;) operate primarily on federal land under the terms of Special Use Permits granted by the U.S. Department of Agriculture Forest Service. The operations of Whistler Blackcomb are conducted on land owned by the government of the Province of British Columbia, Canada within the traditional territory of the Squamish and Lil&#x2019;wat Nations. The operations of the Company&#x2019;s Australian ski areas are conducted pursuant to long-term leases and licenses on land owned by the governments of New South Wales and Victoria, Australia. Okemo, Mount Sunapee and Stowe operate on land leased from the respective states in which the resorts are located and on land owned by the Company.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In the Lodging segment, the Company owns and/or manages a collection of luxury hotels and condominiums under its RockResorts brand; other strategic lodging properties and a large number of condominiums located in proximity to the Company&#x2019;s North American mountain resorts; National Park Service (&#x201c;NPS&#x201d;) concessionaire properties including the Grand Teton Lodge Company (&#x201c;GTLC&#x201d;), which operates destination resorts in Grand Teton National Park; a Colorado resort ground transportation company and mountain resort golf courses.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Resorts Development Company (&#x201c;VRDC&#x201d;), a wholly-owned subsidiary, conducts the operations of the Company&#x2019;s Real Estate segment, which owns, develops and sells real estate in and around the Company&#x2019;s resort communities.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company&#x2019;s mountain business and its lodging properties at or around the Company&#x2019;s mountain resorts are seasonal in nature with peak operating seasons primarily from mid-November through mid-April in North America. The peak operating season at the Company&#x2019;s Australian resorts, NPS concessionaire properties and golf courses generally occurs from June to early October.&lt;/span&gt;&lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
    <us-gaap:SignificantAccountingPoliciesTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-9F8BC1AF1D767CCCC7915D5D91DAD0D0-0-wk-Fact-A0D414D079996758324B5D5D91416D69">&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt; Summary of Significant Accounting Policies&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Principles of Consolidation &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The accompanying Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries for which the Company has a controlling financial interest. Investments in which the Company does not have a controlling financial interest, but has significant influence, are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Cash and Cash Equivalents &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Restricted Cash &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company considers cash to be restricted when withdrawal or general use is legally restricted. During peak operations of the North American ski season, the Company&#x2019;s restricted cash balance is primarily associated with customer reservations deposits that are required to be held in a trust pursuant to statutory requirements until such reservations are fulfilled.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Accounts receivable &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Inventories &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company&#x2019;s inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or net realizable value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Property, Plant and Equipment &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in income from operations. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:22%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated&#160;Life&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;in Years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;10-35&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;7-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Furniture and fixtures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Software&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vehicles&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Real Estate Held for Sale and Investment &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs. Sales and marketing expenses are charged against income in the period incurred. Additionally, sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Deferred Financing Costs &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Certain costs incurred with the issuance of debt and debt securities are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. When debt is extinguished prior to its maturity date, the amortization of the remaining unamortized deferred financing costs, or pro-rata portion thereof, is charged to loss on extinguishment of debt.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Goodwill and Intangible Assets &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company has classified as goodwill the cost in excess of estimated fair value of the net assets of businesses acquired in purchase transactions. The Company&#x2019;s major intangible asset classes are trademarks, water rights, customer lists, property management contracts and Forest Service permits. Goodwill and various indefinite-lived intangible assets, including certain trademarks, water rights and certain property management contracts, are not amortized but are subject to at least annual impairment testing. The Company tests these non-amortizing assets annually (or more often, if necessary) for impairment as of May&#160;1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The testing for impairment consists of a comparison of the estimated fair value of the assets with their net carrying values. If the net carrying amount of the assets exceed its estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess. If the net carrying amount of the assets does not exceed the estimated fair value, no impairment loss is recognized. For the testing of goodwill and other indefinite-lived intangible assets for impairment, the Company performs a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount, which includes an evaluation as to whether there have been significant changes to macro-economic factors related to the reporting unit or intangible asset that could materially impact fair value. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset is more likely than not less than carrying amount, a quantitative impairment test would be required, in which the Company would determine the estimated fair value of its reporting units using discounted cash flow analyses and determine the estimated fair value of its indefinite-lived intangible assets using an income approach. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As a result of the coronavirus (COVID-19) pandemic and the impact it has had on the Company&#x2019;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. As further discussed in Note 8, the Company recognized an impairment of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$28.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; related to its Colorado resort ground transportation company during the year ended July 31, 2020, which was recorded within asset impairments on the Company&#x2019;s Consolidated Statement of Operations, with a corresponding reduction to goodwill, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and to intangible assets, net and property, plant and equipment, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. See Note 8, Supplementary Balance Sheet Information, for additional information. The Company determined that there were no other impairments of goodwill, definite and indefinite-lived assets for the years ended July 31, 2020, and that there was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;no&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; impairment to goodwill and no material impairment to definite or indefinite-lived intangible assets for the years ended July 31, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Long-lived Assets &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the net carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the net carrying amount of the asset, an impairment loss is recognized in the amount by which the net carrying amount of the asset exceeds its estimated fair value. As discussed above, the Company recorded an impairment to long-lived assets related to its Colorado resort ground transportation company during the year ended July 31, 2020. The Company determined that there were no other impairments of long-lived assets for the year ended July 31, 2020, and determined there was no impairment of the net carrying amount of a long-lived asset occurred during the years ended July 31, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Revenue Recognition &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company&#x2019;s significant accounting policies with regard to revenue recognition are discussed in Note 3, Revenues.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Real Estate Cost of Sales &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and sales commission expense. The Company utilizes the relative sales value method to determine cost of sales for condominium units sold within a project when specific identification of costs cannot be reasonably determined. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Foreign Currency Translation &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The functional currency of the Company&#x2019;s entities operating outside of the United States is the principal currency of the economic environment in which the entity primarily generates and expends cash, which is generally the local currency. The assets and liabilities of these foreign operations are translated at the exchange rate in effect as of the balance sheet dates. Income and expense items are translated using the weighted average exchange rate for the period. Translation adjustments from currency exchange, including intercompany transactions of a long-term nature, are recorded in accumulated other comprehensive loss as a separate component of stockholders&#x2019; equity. Intercompany transactions that are not of a long-term nature are reported as gains and losses within &#x201c;segment operating expense&#x201d; and for intercompany loans within foreign currency loss on intercompany loans on the Company&#x2019;s Consolidated Statements of Operations.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Reserve Estimates &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company uses estimates to record reserves for certain liabilities, including medical claims, workers&#x2019; compensation claims, third-party loss contingencies and property taxes, among other items. The Company estimates the probable costs related to these liabilities that will be incurred and records that amount as a liability in its Consolidated Financial Statements. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Additionally, the Company records, as applicable, receivables related to insurance recoveries for loss contingencies if deemed probable of recovery. These estimates are reviewed and adjusted as the facts and circumstances change. The Company records legal costs related to defending claims as incurred.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Advertising Costs &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$41.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$44.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$39.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, and was recorded within Mountain and Lodging operating expenses on the Company&#x2019;s Consolidated Statement of Operations. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Income Taxes &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Income tax expense includes U.S. tax (federal and state) and foreign income taxes. The Company&#x2019;s provision for income taxes is based on pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carrybacks or carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company&#x2019;s deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is &#x201c;more-likely-than-not&#x201d; to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the largest tax benefit that is cumulatively greater than &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;50%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; likely of being realized upon ultimate settlement. Interest and penalties accrued in connection with uncertain tax positions are recognized as a component of income tax expense. See Note 11 &#x201c;Income Taxes&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Fair Value of Financial Instruments &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The recorded amounts for cash and cash equivalents, restricted cash, receivables, other current assets and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Company&#x2019;s credit agreements and the Employee Housing Bonds (as defined in Note 6, Long-Term Debt) approximate book value due to the variable nature of the interest rate, which is a market rate, associated with the debt. The estimated fair value of the 6.25% Notes (as defined in Note 6, Long-Term Debt) is based on quoted market prices (a Level 2 input). The estimated fair value of the EPR Secured Notes and EB-5 Development Notes (each as defined in Note 6, Long-Term Debt), have been estimated using analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input). The carrying values, including any unamortized premium or discount, and estimated fair values of the 6.25% Notes, EPR Secured Notes and EB-5 Development Notes as of July 31, 2020 are presented below (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Carrying Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.25% Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;600,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;643,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EPR Secured Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;137,314&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;150,628&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EB-5 Development Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,212&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Stock-Based Compensation &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Stock-based compensation expense is measured at the grant date based upon the estimated fair value of the award and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17 &#x201c;Stock Compensation Plan&#x201d; for more information), less the amount of forfeited awards which are recorded as they occur. The following table shows total net stock-based compensation expense for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; included in the Consolidated Statements of Operations (in thousands):&lt;/span&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,474&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,716&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,399&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,219&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,215&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;212&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pre-tax stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,856&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,040&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: benefit from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,027&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,589&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,406&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,994&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,634&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Concentration of Credit Risk &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high-&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;quality credit institutions. The Company does not enter into financial instruments for trading or speculative purposes. Concentration of credit risk with respect to accounts and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Accounting for Hedging Instruments &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; From time to time, the Company enters into interest rate swaps (the &#x201c;Interest Rate Swaps&#x201d;) to hedge the variability in cash flows associated with variable-rate borrowings by converting the floating interest rate to a fixed interest rate. As of July 31, 2020, the Company hedged the future cash flows associated with &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the principal amount outstanding of its Vail Holdings Credit Agreement (as defined in Note 6 &#x201c;Long-Term Debt&#x201d;), which were designated as cash flow hedges. The accounting for changes in fair value of hedging instruments depends on the effectiveness of the hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Company to risks associated with market fluctuations and the financial instrument used must reduce the Company&#x2019;s exposure to market fluctuation throughout the hedge period. Changes in estimated fair value of the Interest Rate Swaps are recorded within change in estimated fair value of hedging instruments on the Company&#x2019;s Consolidated Statements of Comprehensive Income, and such change was recorded as a loss of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; during the year ended July 31, 2020. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. As of July 31, 2020, the estimated fair value of the Interest Rate Swaps was a liability of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and was recorded within other long-term liabilities on the Company&#x2019;s Consolidated Balance Sheet, and the impact of the underlying cash flows associated with the Interest Rate Swaps are recorded within interest expense, net on the Company&#x2019;s Consolidated Statements of Operations. See Note 10 &#x201c;Fair Value Measurements&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Leases &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there is one or more assets identified and the right to control the use of any identified asset is conveyed to the Company for a period of time in exchange for consideration. Control over the use of an identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Generally, the Company classifies a lease as a finance lease if the terms of the agreement effectively transfer control of the underlying asset; otherwise, it is classified as an operating lease.&#160;For contracts that contain lease and non-lease components, the Company accounts for these components separately. For leases with terms greater than twelve months, the associated lease right-of-use (&#x201c;ROU&#x201d;) assets and lease liabilities are recognized at the estimated present value of future lease payments over the lease term at commencement date. The Company&#x2019;s leases do not provide a readily determinable implicit rate; therefore, the Company uses an estimated incremental borrowing rate to discount the future minimum lease payments. For leases containing fixed rental escalation clauses, the escalators are factored into the determination of future minimum lease payments. The Company includes options to extend a lease when it is reasonably certain that such options will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. See&#160;Note 4 &#x201c;Leases&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Use of Estimates &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#x201c;GAAP&#x201d;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"&gt;Recently Issued Accounting Standards&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Adopted Standards&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In February 2016, the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued Accounting Standards Update (&#x201c;ASU&#x201d;) No. 2016-02, &#x201c;Leases (Topic 842),&#x201d; which supersedes &#x201c;Leases (Topic 840).&#x201d; The standard requires lessees to recognize the assets and liabilities arising from all leases on the balance sheet, including those classified as operating leases under previous accounting guidance, and to disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of twelve months or less. Under the new guidance, lessees are required to recognize a lease liability and an ROU asset on their balance sheets, while lessor accounting is largely unchanged. In July 2018, the FASB released ASU No. 2018-11, &#x201c;Leases (Topic 842): Targeted Improvements&#x201d; which, among other items, provided an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company adopted ASU No. 2016-02 on August 1, 2019 using the modified retrospective transition method as provided by the standard. In accordance with this transition method, results for reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;applicable accounting guidance. The Company has elected the package of practical expedients permitted under the transition guidance which allowed the Company to not reassess: (i) whether any existing or expired contracts are or contain leases; (ii) lease classification of any expired or existing leases; or (iii) initial direct costs for any existing leases. The Company has made an accounting policy election to not record leases on the balance sheet with an initial term of twelve months or less. The Company will recognize those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. Additionally, the Company has elected the practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases. At adoption, the Company was not able to determine the interest rate implicit in its leases; therefore, for existing operating leases, the lease liability was measured using the Company&#x2019;s estimated incremental borrowing rate. For existing leases, the incremental borrowing rate used was based on the remaining lease term at the adoption date. For leases with minimum lease payments adjusted periodically for inflation, the lease liability was measured using the minimum lease payments adjusted by the inflation index at the adoption date.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On August 1, 2019, as a result of adopting the standard, the Company recorded &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$221.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of operating ROU assets and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$254.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of related total operating lease liabilities in the Consolidated Balance Sheet (of which &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$219.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was included in operating lease liabilities and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$34.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was included in accounts payable and accrued liabilities). As a result of the adoption, the Company reclassified &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$32.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of unfavorable lease obligations, deferred rent credits and other related amounts to the operating ROU assets balance, primarily from other long-term liabilities, which reduced the amount recognized as operating ROU assets to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$221.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The adoption of the new lease standard did not result in a cumulative effect adjustment to beginning retained earnings, and did not materially affect the Company&#x2019;s Consolidated Statement of Operations or Consolidated Statement of Cash Flows for the year ended July 31, 2020. The Company&#x2019;s Canyons finance lease was not affected by the implementation of this standard as the arrangement is classified and recorded as a finance lease arrangement under both the previous and new accounting guidance.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In April 2020, the FASB issued clarifying guidance on accounting for certain lease concessions related to the effects of the COVID-19 pandemic under ASC Topic 842, allowing companies to make an election to either account for such lease concessions (i) in the period that they occur as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract) or (ii) ratably over the remainder of the lease term as modifications to the contract. The Company made a policy election to account for such lease concessions as though enforceable rights and obligations to make those concessions existed in the contracts and as a result, will account for concessions in the period in which they occur. This election did not have a material impact on the Company&#x2019;s Consolidated Financial Statements for the year ended July 31, 2020.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Standards Being Evaluated&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In March 2020, the FASB issued ASU 2020-04, &#x201c;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#x201d; The ASU provides optional transition guidance, for a limited time, to companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (&#x201c;LIBOR&#x201d;) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 through December 31, 2022. The amendments in this update may be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. All other amendments should be applied on a prospective basis. The Company is in the process of evaluating the effect that the adoption of this standard will have on its Consolidated Financial Statements.&lt;/span&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
    <us-gaap:ConsolidationPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-F363C09AB033C76802FA5D5D91DA9F27-0-wk-Fact-6A6125EA2216040D85585D5D9139C405">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Principles of Consolidation &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The accompanying Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries for which the Company has a controlling financial interest. Investments in which the Company does not have a controlling financial interest, but has significant influence, are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation.&lt;/span&gt;&lt;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
    <us-gaap:CashAndCashEquivalentsPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-EADA3B20BB8FDC2043485D5D91DAAFA7-0-wk-Fact-41B081958B565F1EBEC05D5D914E311D">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Cash and Cash Equivalents &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.&lt;/span&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
    <us-gaap:ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B0E47E3D4948ACAC53AA83CC622F9300-0-wk-Fact-A5E9791B5FED2ED9156083CCAED568CA">&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Restricted Cash &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company considers cash to be restricted when withdrawal or general use is legally restricted. During peak operations of the North American ski season, the Company&#x2019;s restricted cash balance is primarily associated with customer reservations deposits that are required to be held in a trust pursuant to statutory requirements until such reservations are fulfilled.&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfRestrictedCashAndCashEquivalentsTextBlock>
    <us-gaap:TradeAndOtherAccountsReceivablePolicy
      contextRef="FD2020Q4YTD"
      id="TextSelection-2E37F985F2EBB35145975D5D91DB3D25-0-wk-Fact-DFAA451705A3225F341A5D5D912CA45C">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Accounts receivable &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis.&lt;/span&gt;&lt;/div&gt;</us-gaap:TradeAndOtherAccountsReceivablePolicy>
    <us-gaap:InventoryPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-94683CDED89F10738CE45D5D91DB3E4A-0-wk-Fact-146E0C1C60851DCE3EA55D5D910C1BB7">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Inventories &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company&#x2019;s inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or net realizable value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory.&lt;/span&gt;&lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
    <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-2970516336DA446CA4815D5D91DB580E-0-wk-Fact-744DDFBB03C5FAA113035D5D912F5F65">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Property, Plant and Equipment &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in income from operations. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:22%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated&#160;Life&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;in Years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;10-35&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;7-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Furniture and fixtures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Software&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vehicles&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
    <mtn:ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-A1C22B9C65C96462E5665D5D91DB87FE-0-wk-Fact-8153F98F0E598A2553F25D5D9128045D">Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:22%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated&#160;Life&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;in Years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;10-35&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;7-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2-30&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Furniture and fixtures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Software&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vehicles&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;3-10&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</mtn:ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife
      contextRef="FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember"
      id="d5430284e910-wk-Fact-A5CAB82A5D40E9AA20D95D5D910A3C89">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:RealEstateHeldForDevelopmentAndSalePolicy
      contextRef="FD2020Q4YTD"
      id="TextSelection-B4C62469F07C6EE410A25D5D91DC36DB-0-wk-Fact-73E8BE2DF9680E3F9BD55D5D911943AA">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Real Estate Held for Sale and Investment &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs. Sales and marketing expenses are charged against income in the period incurred. Additionally, sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. &lt;/span&gt;&lt;/div&gt;</us-gaap:RealEstateHeldForDevelopmentAndSalePolicy>
    <us-gaap:DeferredChargesPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-279753A6940EA546A6B85D5D91D9F4F3-0-wk-Fact-4C62C083B11F8462D4CC5D5D9141627A">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Deferred Financing Costs &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Certain costs incurred with the issuance of debt and debt securities are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. When debt is extinguished prior to its maturity date, the amortization of the remaining unamortized deferred financing costs, or pro-rata portion thereof, is charged to loss on extinguishment of debt.&lt;/span&gt;&lt;/div&gt;</us-gaap:DeferredChargesPolicyTextBlock>
    <us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-257C8BFCC0DEFD3D4F515D5D91DAEA86-0-wk-Fact-BDBDA7C5C7C087766A6F5D5D910F2594">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Goodwill and Intangible Assets &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company has classified as goodwill the cost in excess of estimated fair value of the net assets of businesses acquired in purchase transactions. The Company&#x2019;s major intangible asset classes are trademarks, water rights, customer lists, property management contracts and Forest Service permits. Goodwill and various indefinite-lived intangible assets, including certain trademarks, water rights and certain property management contracts, are not amortized but are subject to at least annual impairment testing. The Company tests these non-amortizing assets annually (or more often, if necessary) for impairment as of May&#160;1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The testing for impairment consists of a comparison of the estimated fair value of the assets with their net carrying values. If the net carrying amount of the assets exceed its estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess. If the net carrying amount of the assets does not exceed the estimated fair value, no impairment loss is recognized. For the testing of goodwill and other indefinite-lived intangible assets for impairment, the Company performs a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount, which includes an evaluation as to whether there have been significant changes to macro-economic factors related to the reporting unit or intangible asset that could materially impact fair value. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset is more likely than not less than carrying amount, a quantitative impairment test would be required, in which the Company would determine the estimated fair value of its reporting units using discounted cash flow analyses and determine the estimated fair value of its indefinite-lived intangible assets using an income approach. &lt;/span&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As a result of the coronavirus (COVID-19) pandemic and the impact it has had on the Company&#x2019;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. As further discussed in Note 8, the Company recognized an impairment of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$28.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; related to its Colorado resort ground transportation company during the year ended July 31, 2020, which was recorded within asset impairments on the Company&#x2019;s Consolidated Statement of Operations, with a corresponding reduction to goodwill, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and to intangible assets, net and property, plant and equipment, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. See Note 8, Supplementary Balance Sheet Information, for additional information. The Company determined that there were no other impairments of goodwill, definite and indefinite-lived assets for the years ended July 31, 2020, and that there was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;no&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; impairment to goodwill and no material impairment to definite or indefinite-lived intangible assets for the years ended July 31, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5430284e1020-wk-Fact-F77AF2D31CC06FF346F68ADB8BDB9FB6"
      unitRef="usd">28400000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember"
      decimals="-5"
      id="d5430284e1024-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F"
      unitRef="usd">25700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember"
      decimals="-5"
      id="d5430284e1028-wk-Fact-7024F556989CBCD420CD8ADC02C29240"
      unitRef="usd">2700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:GoodwillAndIntangibleAssetImpairment
      contextRef="FD2020Q4YTD"
      decimals="-6"
      id="d5430284e1032-wk-Fact-417B8E67665DCAFC9CEB5D5D9149CEE6"
      unitRef="usd">0</us-gaap:GoodwillAndIntangibleAssetImpairment>
    <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-4FD4D1FCDBC8ED64DE7C5D5D91DC80EA-0-wk-Fact-E9603B4F646E79DC61A25D5D914C15B0">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Long-lived Assets &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the net carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the net carrying amount of the asset, an impairment loss is recognized in the amount by which the net carrying amount of the asset exceeds its estimated fair value. As discussed above, the Company recorded an impairment to long-lived assets related to its Colorado resort ground transportation company during the year ended July 31, 2020. The Company determined that there were no other impairments of long-lived assets for the year ended July 31, 2020, and determined there was no impairment of the net carrying amount of a long-lived asset occurred during the years ended July 31, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
    <us-gaap:RealEstatePolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-A25A0E575A79C9784E595D5D91DCACFE-0-wk-Fact-A443C90C61C0CFE851195D5D910E5553">&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Real Estate Cost of Sales &#x2014;&lt;/span&gt; Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and sales commission expense. The Company utilizes the relative sales value method to determine cost of sales for condominium units sold within a project when specific identification of costs cannot be reasonably determined.</us-gaap:RealEstatePolicyTextBlock>
    <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5AF525D2332C792DAE2D5D5D91DCEDE2-0-wk-Fact-8FF9946CA5D2064ABD3C5D5D914B262D">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Foreign Currency Translation &#x2014; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The functional currency of the Company&#x2019;s entities operating outside of the United States is the principal currency of the economic environment in which the entity primarily generates and expends cash, which is generally the local currency. The assets and liabilities of these foreign operations are translated at the exchange rate in effect as of the balance sheet dates. Income and expense items are translated using the weighted average exchange rate for the period. Translation adjustments from currency exchange, including intercompany transactions of a long-term nature, are recorded in accumulated other comprehensive loss as a separate component of stockholders&#x2019; equity. Intercompany transactions that are not of a long-term nature are reported as gains and losses within &#x201c;segment operating expense&#x201d; and for intercompany loans within foreign currency loss on intercompany loans on the Company&#x2019;s Consolidated Statements of Operations.&lt;/span&gt;&lt;/div&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
    <us-gaap:LiabilityReserveEstimatePolicy
      contextRef="FD2020Q4YTD"
      id="TextSelection-9E8C868DA5864D9436915D5D91D966EA-0-wk-Fact-B92CAF7CF2390806FF545D5D9119B6B1">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Reserve Estimates &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company uses estimates to record reserves for certain liabilities, including medical claims, workers&#x2019; compensation claims, third-party loss contingencies and property taxes, among other items. The Company estimates the probable costs related to these liabilities that will be incurred and records that amount as a liability in its Consolidated Financial Statements. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Additionally, the Company records, as applicable, receivables related to insurance recoveries for loss contingencies if deemed probable of recovery. These estimates are reviewed and adjusted as the facts and circumstances change. The Company records legal costs related to defending claims as incurred.&lt;/span&gt;&lt;/div&gt;</us-gaap:LiabilityReserveEstimatePolicy>
    <us-gaap:AdvertisingCostsPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B953D7F9C046B64547615D5D91D82C98-0-wk-Fact-AFB26CC8C647F83221325D5D910E2D46">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Advertising Costs &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$41.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$44.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$39.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, and was recorded within Mountain and Lodging operating expenses on the Company&#x2019;s Consolidated Statement of Operations. &lt;/span&gt;&lt;/div&gt;</us-gaap:AdvertisingCostsPolicyTextBlock>
    <us-gaap:AdvertisingExpense
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5430284e1221-wk-Fact-816E1153DB6D3B066A625D5D91129C82"
      unitRef="usd">41600000</us-gaap:AdvertisingExpense>
    <us-gaap:AdvertisingExpense
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5430284e1225-wk-Fact-E19FF2A960F8825AD0965D5D913A7C4E"
      unitRef="usd">44600000</us-gaap:AdvertisingExpense>
    <us-gaap:AdvertisingExpense
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5430284e1230-wk-Fact-35C472F5A83B506D99565D5D9136C0B5"
      unitRef="usd">39800000</us-gaap:AdvertisingExpense>
    <us-gaap:IncomeTaxPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-BABA66794BD4B60B0D8E5D5D91DAFE10-0-wk-Fact-02F6744A944186DEA8725D5D91229F99">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Income Taxes &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Income tax expense includes U.S. tax (federal and state) and foreign income taxes. The Company&#x2019;s provision for income taxes is based on pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carrybacks or carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company&#x2019;s deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is &#x201c;more-likely-than-not&#x201d; to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the largest tax benefit that is cumulatively greater than &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;50%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; likely of being realized upon ultimate settlement. Interest and penalties accrued in connection with uncertain tax positions are recognized as a component of income tax expense. See Note 11 &#x201c;Income Taxes&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <us-gaap:FairValueOfFinancialInstrumentsPolicy
      contextRef="FD2020Q4YTD"
      id="TextSelection-CF9CD0A7C1C5A0E90BCC5D5D91DB5B1D-0-wk-Fact-17891BE37D07B4C8E1EA5D5D911B49A5">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Fair Value of Financial Instruments &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The recorded amounts for cash and cash equivalents, restricted cash, receivables, other current assets and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Company&#x2019;s credit agreements and the Employee Housing Bonds (as defined in Note 6, Long-Term Debt) approximate book value due to the variable nature of the interest rate, which is a market rate, associated with the debt. The estimated fair value of the 6.25% Notes (as defined in Note 6, Long-Term Debt) is based on quoted market prices (a Level 2 input). The estimated fair value of the EPR Secured Notes and EB-5 Development Notes (each as defined in Note 6, Long-Term Debt), have been estimated using analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input). The carrying values, including any unamortized premium or discount, and estimated fair values of the 6.25% Notes, EPR Secured Notes and EB-5 Development Notes as of July 31, 2020 are presented below (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Carrying Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.25% Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;600,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;643,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EPR Secured Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;137,314&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;150,628&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EB-5 Development Notes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,212&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
    <us-gaap:NotesAndLoansPayable
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember"
      decimals="-3"
      id="d5430284e1388-wk-Fact-1E043E94DC89A88F55298ADE0F980D87"
      unitRef="usd">600000000</us-gaap:NotesAndLoansPayable>
    <us-gaap:DebtInstrumentFairValue
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_A6.25NotesMember"
      decimals="-3"
      id="d5430284e1402-wk-Fact-D92ABB9D6BAA190267C68AE082F8106F"
      unitRef="usd">643500000</us-gaap:DebtInstrumentFairValue>
    <us-gaap:NotesAndLoansPayable
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember"
      decimals="-3"
      id="d5430284e1422-wk-Fact-C73EC28DFE1094D3EB5F8ADE0F9F3A38"
      unitRef="usd">137314000</us-gaap:NotesAndLoansPayable>
    <us-gaap:DebtInstrumentFairValue
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember"
      decimals="-3"
      id="d5430284e1436-wk-Fact-1B2B98C1C5550CC9AEA08AE082FEB7DA"
      unitRef="usd">150628000</us-gaap:DebtInstrumentFairValue>
    <us-gaap:NotesAndLoansPayable
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-3"
      id="d5430284e1456-wk-Fact-04DB9DD11439EC6EC9498ADE0FA941BE"
      unitRef="usd">47833000</us-gaap:NotesAndLoansPayable>
    <us-gaap:DebtInstrumentFairValue
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-3"
      id="d5430284e1470-wk-Fact-0F40DC7AE27174B7A25B8AE083048ECA"
      unitRef="usd">47212000</us-gaap:DebtInstrumentFairValue>
    <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy
      contextRef="FD2020Q4YTD"
      id="TextSelection-50B595CA2A761141E9C25D5D91DAD0AB-0-wk-Fact-33BCE9C89902621A45C65D5D911154D7">&lt;div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Stock-Based Compensation &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Stock-based compensation expense is measured at the grant date based upon the estimated fair value of the award and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17 &#x201c;Stock Compensation Plan&#x201d; for more information), less the amount of forfeited awards which are recorded as they occur. The following table shows total net stock-based compensation expense for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; included in the Consolidated Statements of Operations (in thousands):&lt;/span&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,474&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,716&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,399&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,219&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,215&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;212&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pre-tax stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,856&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,040&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: benefit from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,027&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,589&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,406&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,994&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,634&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
    <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-EC12D60EC6BC07FEED4D5D5D91DC653F-0-wk-Fact-80FCC2A7A9C9C41266AF5D5D9114B8E2">The following table shows total net stock-based compensation expense for the years ended &lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; included in the Consolidated Statements of Operations (in thousands):&lt;/span&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;&#160;&lt;/span&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,474&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,716&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,399&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,219&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,215&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;212&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pre-tax stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,856&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,040&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: benefit from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,027&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,589&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,406&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net stock-based compensation expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,994&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,634&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1671-wk-Fact-AF07D08FA6668B92C8445D5D91451AE3"
      unitRef="usd">17410000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1685-wk-Fact-567AB506999AA2B31F1D5D5D9143737E"
      unitRef="usd">16474000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_MountainOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1699-wk-Fact-AE28295A815DC4273E345D5D9143FC62"
      unitRef="usd">15716000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1714-wk-Fact-1A3BD38F2558E761304C5D5D914798FD"
      unitRef="usd">3399000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1728-wk-Fact-CE2E726840E253EF565F5D5D91480B43"
      unitRef="usd">3219000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_LodgingOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1742-wk-Fact-E98F5EA54CD7A017E9A15D5D9141F9F1"
      unitRef="usd">3215000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2020Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1762-wk-Fact-FC593415B1152E6C59905D5D91482111"
      unitRef="usd">212000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2019Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1776-wk-Fact-B4D3880FDC52C8F378305D5D9142C8B1"
      unitRef="usd">163000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2018Q4YTD_us-gaap_IncomeStatementLocationAxis_mtn_RealEstateOperatingExpenseMember"
      decimals="-3"
      id="d5430284e1790-wk-Fact-810D3A159D2BDB78DE735D5D91435FA6"
      unitRef="usd">109000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5430284e1810-wk-Fact-9B0ACDC3DCFD1EF5596F5D5D91473C4F"
      unitRef="usd">21021000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5430284e1824-wk-Fact-0F89268E118B8B9A71155D5D91411740"
      unitRef="usd">19856000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5430284e1838-wk-Fact-BF5E267DE56EE3B4C3F65D5D914A975F"
      unitRef="usd">19040000</us-gaap:AllocatedShareBasedCompensationExpense>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5430284e1858-wk-Fact-375CCBB96DD4DA527B025D5D9148B811"
      unitRef="usd">5027000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5430284e1872-wk-Fact-F26DDF7C86CEC9387A0C5D5D91418DF9"
      unitRef="usd">4589000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5430284e1886-wk-Fact-C10F4A263CA9AC6F41F45D5D91401A6D"
      unitRef="usd">5406000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
    <us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5430284e1911-wk-Fact-DC4521C0A300BCA120FB5D5D913D09B2"
      unitRef="usd">15994000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
    <us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5430284e1925-wk-Fact-6C4C3BB9FB14AEBD6E3F5D5D913D864F"
      unitRef="usd">15267000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
    <us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5430284e1939-wk-Fact-37AA286F791F9E8B7E035D5D9143F4CD"
      unitRef="usd">13634000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
    <mtn:ConcentrationOfCreditRiskPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-75B131EBAD21DF28F54B5D5D91DB0D42-0-wk-Fact-FD1DE4814094897828F75D5D91339393">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Concentration of Credit Risk &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high-&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;quality credit institutions. The Company does not enter into financial instruments for trading or speculative purposes. Concentration of credit risk with respect to accounts and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.&lt;/span&gt;&lt;/div&gt;</mtn:ConcentrationOfCreditRiskPolicyTextBlock>
    <us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-485567D5F16B37E7C31D83CE9767A7A2-0-wk-Fact-55C4DCA611A2DE83057283CEE3F2A6C1">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Accounting for Hedging Instruments &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; From time to time, the Company enters into interest rate swaps (the &#x201c;Interest Rate Swaps&#x201d;) to hedge the variability in cash flows associated with variable-rate borrowings by converting the floating interest rate to a fixed interest rate. As of July 31, 2020, the Company hedged the future cash flows associated with &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the principal amount outstanding of its Vail Holdings Credit Agreement (as defined in Note 6 &#x201c;Long-Term Debt&#x201d;), which were designated as cash flow hedges. The accounting for changes in fair value of hedging instruments depends on the effectiveness of the hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Company to risks associated with market fluctuations and the financial instrument used must reduce the Company&#x2019;s exposure to market fluctuation throughout the hedge period. Changes in estimated fair value of the Interest Rate Swaps are recorded within change in estimated fair value of hedging instruments on the Company&#x2019;s Consolidated Statements of Comprehensive Income, and such change was recorded as a loss of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; during the year ended July 31, 2020. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. As of July 31, 2020, the estimated fair value of the Interest Rate Swaps was a liability of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and was recorded within other long-term liabilities on the Company&#x2019;s Consolidated Balance Sheet, and the impact of the underlying cash flows associated with the Interest Rate Swaps are recorded within interest expense, net on the Company&#x2019;s Consolidated Statements of Operations. See Note 10 &#x201c;Fair Value Measurements&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
    <mtn:InterestRateSwapNotionalAmount
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5430284e2024-wk-Fact-DADF5702D68203E3EAD58AE1DBA6D46B"
      unitRef="usd">400000000.0</mtn:InterestRateSwapNotionalAmount>
    <us-gaap:ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5430284e2028-wk-Fact-CADF3AC5EB3EA04EC8A68AE26231DF82"
      unitRef="usd">22500000</us-gaap:ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1>
    <us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5430284e2032-wk-Fact-7F7AC68CDCC41365F3608AE2F0F1AC8C"
      unitRef="usd">22500000</us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue>
    <us-gaap:LesseeLeasesPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5446348519C9E522477083CF0AAA6C87-0-wk-Fact-8779F57715840812D59B83CF6AE83CE1">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Leases &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there is one or more assets identified and the right to control the use of any identified asset is conveyed to the Company for a period of time in exchange for consideration. Control over the use of an identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Generally, the Company classifies a lease as a finance lease if the terms of the agreement effectively transfer control of the underlying asset; otherwise, it is classified as an operating lease.&#160;For contracts that contain lease and non-lease components, the Company accounts for these components separately. For leases with terms greater than twelve months, the associated lease right-of-use (&#x201c;ROU&#x201d;) assets and lease liabilities are recognized at the estimated present value of future lease payments over the lease term at commencement date. The Company&#x2019;s leases do not provide a readily determinable implicit rate; therefore, the Company uses an estimated incremental borrowing rate to discount the future minimum lease payments. For leases containing fixed rental escalation clauses, the escalators are factored into the determination of future minimum lease payments. The Company includes options to extend a lease when it is reasonably certain that such options will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. See&#160;Note 4 &#x201c;Leases&#x201d; for more information.&lt;/span&gt;&lt;/div&gt;</us-gaap:LesseeLeasesPolicyTextBlock>
    <us-gaap:UseOfEstimates
      contextRef="FD2020Q4YTD"
      id="TextSelection-2DC371129D426BD4C18A83CF94F9B16A-0-wk-Fact-848BC3A1F50114AF5BA983CFD288D7D0">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Use of Estimates &#x2014;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#x201c;GAAP&#x201d;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.&lt;/span&gt;&lt;/div&gt;</us-gaap:UseOfEstimates>
    <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-D716CF035A77F3ED9E4D83D0869CBD8E-0-wk-Fact-B54AA4CBC18B62A5E1BF83D275CEC2D5">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Adopted Standards&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In February 2016, the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued Accounting Standards Update (&#x201c;ASU&#x201d;) No. 2016-02, &#x201c;Leases (Topic 842),&#x201d; which supersedes &#x201c;Leases (Topic 840).&#x201d; The standard requires lessees to recognize the assets and liabilities arising from all leases on the balance sheet, including those classified as operating leases under previous accounting guidance, and to disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of twelve months or less. Under the new guidance, lessees are required to recognize a lease liability and an ROU asset on their balance sheets, while lessor accounting is largely unchanged. In July 2018, the FASB released ASU No. 2018-11, &#x201c;Leases (Topic 842): Targeted Improvements&#x201d; which, among other items, provided an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company adopted ASU No. 2016-02 on August 1, 2019 using the modified retrospective transition method as provided by the standard. In accordance with this transition method, results for reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;applicable accounting guidance. The Company has elected the package of practical expedients permitted under the transition guidance which allowed the Company to not reassess: (i) whether any existing or expired contracts are or contain leases; (ii) lease classification of any expired or existing leases; or (iii) initial direct costs for any existing leases. The Company has made an accounting policy election to not record leases on the balance sheet with an initial term of twelve months or less. The Company will recognize those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. Additionally, the Company has elected the practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases. At adoption, the Company was not able to determine the interest rate implicit in its leases; therefore, for existing operating leases, the lease liability was measured using the Company&#x2019;s estimated incremental borrowing rate. For existing leases, the incremental borrowing rate used was based on the remaining lease term at the adoption date. For leases with minimum lease payments adjusted periodically for inflation, the lease liability was measured using the minimum lease payments adjusted by the inflation index at the adoption date.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On August 1, 2019, as a result of adopting the standard, the Company recorded &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$221.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of operating ROU assets and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$254.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of related total operating lease liabilities in the Consolidated Balance Sheet (of which &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$219.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was included in operating lease liabilities and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$34.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was included in accounts payable and accrued liabilities). As a result of the adoption, the Company reclassified &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$32.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of unfavorable lease obligations, deferred rent credits and other related amounts to the operating ROU assets balance, primarily from other long-term liabilities, which reduced the amount recognized as operating ROU assets to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$221.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The adoption of the new lease standard did not result in a cumulative effect adjustment to beginning retained earnings, and did not materially affect the Company&#x2019;s Consolidated Statement of Operations or Consolidated Statement of Cash Flows for the year ended July 31, 2020. The Company&#x2019;s Canyons finance lease was not affected by the implementation of this standard as the arrangement is classified and recorded as a finance lease arrangement under both the previous and new accounting guidance.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In April 2020, the FASB issued clarifying guidance on accounting for certain lease concessions related to the effects of the COVID-19 pandemic under ASC Topic 842, allowing companies to make an election to either account for such lease concessions (i) in the period that they occur as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract) or (ii) ratably over the remainder of the lease term as modifications to the contract. The Company made a policy election to account for such lease concessions as though enforceable rights and obligations to make those concessions existed in the contracts and as a result, will account for concessions in the period in which they occur. This election did not have a material impact on the Company&#x2019;s Consolidated Financial Statements for the year ended July 31, 2020.&lt;/span&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
    <us-gaap:OperatingLeaseRightOfUseAsset
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2080-wk-Fact-E6F16C9971B26D297AEE8AE3AF65ACC0"
      unitRef="usd">221800000</us-gaap:OperatingLeaseRightOfUseAsset>
    <us-gaap:OperatingLeaseLiability
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2084-wk-Fact-992064658C82AFE2956B8AE442462199"
      unitRef="usd">254200000</us-gaap:OperatingLeaseLiability>
    <us-gaap:OperatingLeaseLiabilityNoncurrent
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2088-wk-Fact-3A94188AD5DB58EBACD98AE4AAF9EC86"
      unitRef="usd">219300000</us-gaap:OperatingLeaseLiabilityNoncurrent>
    <us-gaap:OperatingLeaseLiabilityCurrent
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2092-wk-Fact-88696E769F060D448F118AE52A55B858"
      unitRef="usd">34900000</us-gaap:OperatingLeaseLiabilityCurrent>
    <mtn:Rightofuseassetadjustments
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2096-wk-Fact-F863A7AA1F73EB3FF9658AE5BE5B1BDB"
      unitRef="usd">32400000</mtn:Rightofuseassetadjustments>
    <us-gaap:OperatingLeaseRightOfUseAsset
      contextRef="I2020Q1Adoption"
      decimals="-5"
      id="d5430284e2101-wk-Fact-E6F16C9971B26D297AEE8AE3AF65ACC0"
      unitRef="usd">221800000</us-gaap:OperatingLeaseRightOfUseAsset>
    <us-gaap:DescriptionOfNewAccountingPronouncementsNotYetAdopted
      contextRef="FD2020Q4YTD"
      id="TextSelection-11F972E82C9240D7BA8B5D5D91DBBC2D-0-wk-Fact-060925B191CE426740415D5D9137EDA5">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Standards Being Evaluated&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In March 2020, the FASB issued ASU 2020-04, &#x201c;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#x201d; The ASU provides optional transition guidance, for a limited time, to companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (&#x201c;LIBOR&#x201d;) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 through December 31, 2022. The amendments in this update may be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. All other amendments should be applied on a prospective basis. The Company is in the process of evaluating the effect that the adoption of this standard will have on its Consolidated Financial Statements.&lt;/span&gt;&lt;/div&gt;</us-gaap:DescriptionOfNewAccountingPronouncementsNotYetAdopted>
    <us-gaap:RevenueFromContractWithCustomerTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-CBCA41E27AB944379B7E5D5D91DC816A-0-wk-Fact-A00BFE2F6D157FA5C7635D5D90DF1B1E">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;3.&#160;&#160;&#160;&#160; Revenues&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Revenue Recognition&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following provides information about the Company&#x2019;s composition of revenue recognized from contracts with customers and other revenues, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain revenue is derived from a wide variety of sources, including, among other things: lift revenue, which includes sales of lift tickets and pass products; ski school revenue, which includes the revenue derived from ski school operations; dining revenue, which includes both casual and fine dining on-mountain operations; retail sales and equipment rentals; and other on-mountain revenue, which includes private ski club revenue (which includes both club dues and amortization of initiation fees), marketing and internet advertising revenue, municipal services and lodging and transportation operations at the Company&#x2019;s Australian ski areas. Revenue is recognized over time as performance obligations are satisfied &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-left:48px;text-align:justify;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;as control of the good or service (e.g. access to ski areas, provision of ski school services, etc.) is transferred to the customer, except for the Company&#x2019;s retail sales and dining operations revenues which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Company records deferred revenue primarily related to the sale of pass products. Deferred revenue is generally recognized throughout the ski season as the Company&#x2019;s performance obligations are satisfied as control of the service (e.g. access to ski areas throughout the ski season) is transferred to the customer. Transfer of control is based on an estimated number of pass product holder visits relative to total expected visits. Total expected visits are estimated based on historical data, and the Company believes this estimate provides a faithful depiction of its customers&#x2019; pass product usage. When sufficient historical data to determine usage patterns is not available, such as in the case of new product offerings, deferred revenue is recognized on a straight-line basis throughout the ski season until sufficient historical usage patterns are available. The Company also includes other sources of revenue, primarily related to commercial leasing and employee housing leasing arrangements, within other mountain revenue.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel rooms; revenue from hotel dining operations; transportation revenue which relates to the Company&#x2019;s Colorado resort ground transportation operations; and other lodging revenue which includes property management services, managed properties other costs reimbursements, private golf club revenue (which includes both club dues and amortization of initiation fees), and golf course fees. Lodging revenue also includes managed hotel property payroll cost reimbursements related to payroll costs at managed properties where the Company is the employer, which are reimbursed by the owner with no added margin. Therefore, these revenues and corresponding expenses have no net effect on the Company&#x2019;s operating income or net income. Other than revenue from dining operations, lodging revenue is mostly recognized over time as performance obligations are satisfied as control of the service (e.g. nightly hotel room access) is transferred to the customer. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real estate revenue primarily relates to the sale of development land parcels. Real estate revenue is generally recognized at a point in time when performance obligations have been satisfied, which is usually upon closing of the sales transaction and in an amount that reflects the consideration to which the Company expects to be entitled.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;For certain contracts that have an original term length of one year or less, the Company uses the practical expedient applicable to such contracts and does not consider the time value of money. For contracts with an expected term in excess of one year, the Company has considered the provisions of Topic 606 in determining whether contracts contain a financing component. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company presents revenues in the accompanying Consolidated Statements of Operations, net of taxes, when collected from its customers that are remitted or payable to government taxing authorities, except when products are inclusive of taxes where applicable.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As a result of the COVID-19 pandemic, the Company closed its North American destination mountain resorts, regional ski areas and retail stores beginning on March 15, 2020. To encourage the Company&#x2019;s pass product holders to renew their pass purchases for next season following the closures this past spring, the Company announced a credit offer on April 27, 2020 for existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#x201c;Credit Offer&#x201d;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for 2019/2020 season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 North American ski season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. For accounting purposes, the Credit Offer constituted a material right to existing 2019/2020 pass product holders to which the Company allocated a transaction price of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$120.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. As a result, the Company deferred &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$120.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of pass product revenue, which would have been recognized as lift revenue during the year ended July 31, 2020. The Company expects to recognize the revenue associated with the Credit Offer in the second and third fiscal quarters of the fiscal year ending July 31, 2021 or the second and third fiscal quarters of the fiscal year ending July 31, 2022. While the Company expects most of this revenue to be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage for the 2020/2021 ski season and is eligible to utilize their credit toward the purchase of a pass product for the 2021/2022 ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. In addition, as a result of the pass product revenue deferral, the Company also deferred approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the associated costs of obtaining a contract (primarily credit card processing fees), which will be recognized commensurate with the associated deferred revenue.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company estimated the standalone selling price of the Credit Offer by utilizing historical pass holder renewal data to estimate the total amount of credits that are expected to be redeemed. Estimates and assumptions made regarding expected renewal rates impacted the estimate of the transaction price allocated to the Credit Offer and could vary materially from the amount of revenue deferred depending upon actual customer redemptions.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Disaggregation of Revenues&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following table presents net revenues disaggregated by segment and major revenue type for the years ended July 31, 2020, 2019 and 2018 (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:58%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lift&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;913,091&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,033,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;880,293&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Ski School&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,131&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,060&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,910&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;160,763&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;181,837&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Retail/Rental&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;320,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;296,466&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;177,159&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;205,803&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;194,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Mountain net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,710,443&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,956,201&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,722,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&#160;&#160;&#160;&#160;Owned hotel rooms&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,992&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;64,826&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;65,252&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Managed condominium rooms&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;76,480&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86,236&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,198&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,252&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,730&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;48,554&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Transportation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,796&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,275&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,111&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Golf&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,412&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,648&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,110&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,933&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;54,617&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,577&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;237,865&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;300,332&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,802&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payroll cost reimbursements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,549&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,841&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Lodging net revenue &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;248,414&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,662&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;284,643&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,958,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,270,863&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,007,565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Real Estate net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,847&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;712&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,988&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Arrangements with Multiple Performance Obligations&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Several of the Company&#x2019;s contracts with customers include multiple performance obligations, primarily related to bundled services such as ski school packages, lodging packages and events (e.g. weddings and conferences). For such contracts, revenue is allocated to each distinct and separate performance obligation based on its relative standalone selling price. The standalone selling prices are generally based on observable prices charged to customers or estimated based on historical experience and information.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Contract Balances&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contract liabilities are recorded primarily as deferred revenues when payments are received or due in advance of the Company&#x2019;s performance, including amounts which may be refundable. The deferred revenue balance is primarily related to accounts receivable or cash payments recorded in advance of satisfying the Company&#x2019;s performance obligations related to sales of pass products prior to the start of the ski season, private club initiation fees and other related advance purchase products, including advance purchase lift tickets, multiple-day lift tickets, ski school lessons, equipment rentals and lodging advance deposits. Due to the seasonality of the Company&#x2019;s operations, its largest deferred revenue balances occur during the North American pass product selling window, which generally begins in the fourth quarter of its fiscal year. Deferred revenue balances of a short-term nature were &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$256.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$335.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of July 31, 2020 and 2019, respectively. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, were &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$121.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$124.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of July 31, 2020 and 2019, respectively. For the year ended July 31, 2020, the Company recognized approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$266.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of revenue that was included in the deferred revenue balance as of July 31, 2019. As of July 31, 2020, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; years. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contract assets are recorded as trade receivables when the right to consideration is unconditional. Trade receivable balances were &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$106.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$270.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of July 31, 2020 and 2019, respectively. Payments from customers are based on billing terms established in the contracts with customers, which vary by the type of customer, the location and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, contracts require payment before the products are delivered or services are provided to the customer. Impairment losses related &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;to contract assets are recognized through the Company&#x2019;s allowance for doubtful accounts analysis. Contract asset write-offs are evaluated on an individual basis.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Costs to Obtain Contracts with Customers&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company expects that credit card fees and sales commissions paid in order to obtain season ski pass products contracts are recoverable. Accordingly, the Company records these amounts as assets when they are paid prior to the start of the ski season. As of July 31, 2020, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of costs to obtain contracts with customers were recorded within other current assets on the Company&#x2019;s Consolidated Balance Sheet. Deferred credit card fees and sales commissions are amortized commensurate with the recognition of season ski pass revenue. The Company recorded amortization of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$11.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$10.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for these costs during the years ended July 31, 2020, 2019 and 2018, respectively, which were recorded within Mountain and Lodging operating expenses on the Company&#x2019;s Consolidated Statement of Operations.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Utilizing the practical expedient provided for under Topic 606, the Company has elected to expense credit card fees and sales commissions related to non-season ski pass products and services as incurred, as the amortization period is generally one year or less for the time between customer purchase and utilization. These fees are recorded within Mountain and Lodging operating expenses on the Company&#x2019;s Consolidated Statements of Operations.&lt;/span&gt;&lt;/div&gt;</us-gaap:RevenueFromContractWithCustomerTextBlock>
    <us-gaap:RevenueRecognitionPolicyTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5EA8DF5F2156944C48D25D5D91DC8434-0-wk-Fact-F761584D9609118DD4FD5D5D90D96792">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Revenue Recognition&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following provides information about the Company&#x2019;s composition of revenue recognized from contracts with customers and other revenues, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain revenue is derived from a wide variety of sources, including, among other things: lift revenue, which includes sales of lift tickets and pass products; ski school revenue, which includes the revenue derived from ski school operations; dining revenue, which includes both casual and fine dining on-mountain operations; retail sales and equipment rentals; and other on-mountain revenue, which includes private ski club revenue (which includes both club dues and amortization of initiation fees), marketing and internet advertising revenue, municipal services and lodging and transportation operations at the Company&#x2019;s Australian ski areas. Revenue is recognized over time as performance obligations are satisfied &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-left:48px;text-align:justify;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;as control of the good or service (e.g. access to ski areas, provision of ski school services, etc.) is transferred to the customer, except for the Company&#x2019;s retail sales and dining operations revenues which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Company records deferred revenue primarily related to the sale of pass products. Deferred revenue is generally recognized throughout the ski season as the Company&#x2019;s performance obligations are satisfied as control of the service (e.g. access to ski areas throughout the ski season) is transferred to the customer. Transfer of control is based on an estimated number of pass product holder visits relative to total expected visits. Total expected visits are estimated based on historical data, and the Company believes this estimate provides a faithful depiction of its customers&#x2019; pass product usage. When sufficient historical data to determine usage patterns is not available, such as in the case of new product offerings, deferred revenue is recognized on a straight-line basis throughout the ski season until sufficient historical usage patterns are available. The Company also includes other sources of revenue, primarily related to commercial leasing and employee housing leasing arrangements, within other mountain revenue.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel rooms; revenue from hotel dining operations; transportation revenue which relates to the Company&#x2019;s Colorado resort ground transportation operations; and other lodging revenue which includes property management services, managed properties other costs reimbursements, private golf club revenue (which includes both club dues and amortization of initiation fees), and golf course fees. Lodging revenue also includes managed hotel property payroll cost reimbursements related to payroll costs at managed properties where the Company is the employer, which are reimbursed by the owner with no added margin. Therefore, these revenues and corresponding expenses have no net effect on the Company&#x2019;s operating income or net income. Other than revenue from dining operations, lodging revenue is mostly recognized over time as performance obligations are satisfied as control of the service (e.g. nightly hotel room access) is transferred to the customer. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real estate revenue primarily relates to the sale of development land parcels. Real estate revenue is generally recognized at a point in time when performance obligations have been satisfied, which is usually upon closing of the sales transaction and in an amount that reflects the consideration to which the Company expects to be entitled.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;For certain contracts that have an original term length of one year or less, the Company uses the practical expedient applicable to such contracts and does not consider the time value of money. For contracts with an expected term in excess of one year, the Company has considered the provisions of Topic 606 in determining whether contracts contain a financing component. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company presents revenues in the accompanying Consolidated Statements of Operations, net of taxes, when collected from its customers that are remitted or payable to government taxing authorities, except when products are inclusive of taxes where applicable.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As a result of the COVID-19 pandemic, the Company closed its North American destination mountain resorts, regional ski areas and retail stores beginning on March 15, 2020. To encourage the Company&#x2019;s pass product holders to renew their pass purchases for next season following the closures this past spring, the Company announced a credit offer on April 27, 2020 for existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#x201c;Credit Offer&#x201d;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for 2019/2020 season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 North American ski season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. For accounting purposes, the Credit Offer constituted a material right to existing 2019/2020 pass product holders to which the Company allocated a transaction price of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$120.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. As a result, the Company deferred &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$120.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of pass product revenue, which would have been recognized as lift revenue during the year ended July 31, 2020. The Company expects to recognize the revenue associated with the Credit Offer in the second and third fiscal quarters of the fiscal year ending July 31, 2021 or the second and third fiscal quarters of the fiscal year ending July 31, 2022. While the Company expects most of this revenue to be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage for the 2020/2021 ski season and is eligible to utilize their credit toward the purchase of a pass product for the 2021/2022 ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. In addition, as a result of the pass product revenue deferral, the Company also deferred approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the associated costs of obtaining a contract (primarily credit card processing fees), which will be recognized commensurate with the associated deferred revenue.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company estimated the standalone selling price of the Credit Offer by utilizing historical pass holder renewal data to estimate the total amount of credits that are expected to be redeemed. Estimates and assumptions made regarding expected renewal rates impacted the estimate of the transaction price allocated to the Credit Offer and could vary materially from the amount of revenue deferred depending upon actual customer redemptions.&lt;/span&gt;&lt;/div&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
    <mtn:SeasonPassCreditDeferralRevenue
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5432036e727-wk-Fact-4A3318A7A37533E68D918AE771DDD5F8"
      unitRef="usd">120900000</mtn:SeasonPassCreditDeferralRevenue>
    <mtn:SeasonPassCreditDeferralRevenue
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5432036e731-wk-Fact-4A3318A7A37533E68D918AE771DDD5F8"
      unitRef="usd">120900000</mtn:SeasonPassCreditDeferralRevenue>
    <mtn:SeasonPassCreditDeferralCosts
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5432036e735-wk-Fact-2EF759CF76E1090245F98AE899E70F2B"
      unitRef="usd">2900000</mtn:SeasonPassCreditDeferralCosts>
    <us-gaap:DisaggregationOfRevenueTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-253001C6257144DD3BED5D5D91DCB7EE-0-wk-Fact-757F7B335617F723970B5D5D90DB370F">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Disaggregation of Revenues&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following table presents net revenues disaggregated by segment and major revenue type for the years ended July 31, 2020, 2019 and 2018 (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:58%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lift&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;913,091&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,033,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;880,293&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Ski School&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,131&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,060&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,910&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;160,763&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;181,837&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Retail/Rental&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;320,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;296,466&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;177,159&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;205,803&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;194,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Mountain net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,710,443&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,956,201&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,722,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&#160;&#160;&#160;&#160;Owned hotel rooms&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,992&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;64,826&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;65,252&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Managed condominium rooms&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;76,480&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86,236&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,198&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,252&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,730&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;48,554&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Transportation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;15,796&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,275&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,111&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Golf&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,412&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,648&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,110&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,933&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;54,617&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,577&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;237,865&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;300,332&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,802&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;text-indent:18px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payroll cost reimbursements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,549&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,841&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Lodging net revenue &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;248,414&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,662&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;284,643&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,958,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,270,863&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,007,565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Real Estate net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,847&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;712&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,988&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:DisaggregationOfRevenueTableTextBlock>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5432036e993-wk-Fact-B65AA17DEFD15F40FAC35D5D90D30868"
      unitRef="usd">913091000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5432036e1012-wk-Fact-94C2E89261121FBC4B945D5D90EA4EB5"
      unitRef="usd">1033234000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5432036e1032-wk-Fact-F0CC14227F753F8E5BF25D5D90D5A6FA"
      unitRef="usd">880293000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5432036e1052-wk-Fact-FA0E5ECC4D54DCF53A945D5D90E687CC"
      unitRef="usd">189131000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5432036e1071-wk-Fact-4B0186D90BC9AB871D3B5D5D90D8D45B"
      unitRef="usd">215060000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5432036e1090-wk-Fact-459FC1CD031D4203CDCF5D5D90EAC389"
      unitRef="usd">189910000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1116-wk-Fact-5500D2010491FB64A21D5D5D90D79D84"
      unitRef="usd">160763000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1135-wk-Fact-F5B213B9DABC8267BF4D5D5D90E8F964"
      unitRef="usd">181837000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1154-wk-Fact-DE45BA47F1F978168F585D5D90D95A83"
      unitRef="usd">161402000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5432036e1180-wk-Fact-9DBB23AFA71D1D2BCB865D5D90D57886"
      unitRef="usd">270299000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5432036e1199-wk-Fact-7563C57C226401E903AE5D5D90E67117"
      unitRef="usd">320267000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5432036e1218-wk-Fact-11A627D0D9AB2080EE2D5D5D90E46F19"
      unitRef="usd">296466000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5432036e1244-wk-Fact-C2EF63F150179BD212495D5D90E1665F"
      unitRef="usd">177159000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5432036e1263-wk-Fact-0524D23AFDF934BFF8035D5D90D276EC"
      unitRef="usd">205803000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5432036e1282-wk-Fact-BE6D1496F34A28C25BDA5D5D90E14C63"
      unitRef="usd">194851000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5432036e1313-wk-Fact-A00C362BECEAC3C71B605D5D90E212AA"
      unitRef="usd">1710443000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5432036e1332-wk-Fact-8D985D9D6196BB1E43F05D5D90DA26C0"
      unitRef="usd">1956201000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5432036e1352-wk-Fact-3D923F450CC7078C05DC5D5D90E9118C"
      unitRef="usd">1722922000</mtn:MountainRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember"
      decimals="-3"
      id="d5432036e1444-wk-Fact-16BF90C7C8CEBDA666A15D5D90E37135"
      unitRef="usd">44992000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember"
      decimals="-3"
      id="d5432036e1463-wk-Fact-CCFC70D60AB85A10E72B5D5D90D69F4F"
      unitRef="usd">64826000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OwnedHotelRevenueMember"
      decimals="-3"
      id="d5432036e1483-wk-Fact-05EB4E4AC61C37A9C6655D5D90E426EC"
      unitRef="usd">65252000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember"
      decimals="-3"
      id="d5432036e1504-wk-Fact-2EF5DA447471EAEDE12C5D5D90EB0B63"
      unitRef="usd">76480000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember"
      decimals="-3"
      id="d5432036e1523-wk-Fact-CC58CB40CB361FEB13805D5D90E85433"
      unitRef="usd">86236000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_ManagedcondominiumroomsMember"
      decimals="-3"
      id="d5432036e1542-wk-Fact-02192B30FBB56EA5498B5D5D90DE4246"
      unitRef="usd">70198000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1568-wk-Fact-CA2FA0DCF7FF7A0FF2BB5D5D90E1BCC1"
      unitRef="usd">38252000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1587-wk-Fact-6926800B648F0180D8D05D5D90E7B47A"
      unitRef="usd">53730000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember"
      decimals="-3"
      id="d5432036e1606-wk-Fact-ED2C0B184570DBCEA47C5D5D90E5E723"
      unitRef="usd">48554000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember"
      decimals="-3"
      id="d5432036e1632-wk-Fact-553775B44A572C759C605D5D90DE36F2"
      unitRef="usd">15796000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember"
      decimals="-3"
      id="d5432036e1651-wk-Fact-EDA5089544AA9F84892C5D5D90E5B22D"
      unitRef="usd">21275000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_TransportationMember"
      decimals="-3"
      id="d5432036e1670-wk-Fact-FA89D6BD0A75EC2BCB2D5D5D90D39E98"
      unitRef="usd">21111000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember"
      decimals="-3"
      id="d5432036e1696-wk-Fact-A975AF43022960C330425D5D90D38A79"
      unitRef="usd">17412000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember"
      decimals="-3"
      id="d5432036e1715-wk-Fact-01AAEAB1B239AFBE6A6F5D5D90DB139D"
      unitRef="usd">19648000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_GolfMember"
      decimals="-3"
      id="d5432036e1734-wk-Fact-BABFEC8BB7E4210B30C65D5D90E5020D"
      unitRef="usd">18110000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember"
      decimals="-3"
      id="d5432036e1760-wk-Fact-CA21ADAE99A97A51BF8C5D5D90DEAD40"
      unitRef="usd">44933000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember"
      decimals="-3"
      id="d5432036e1779-wk-Fact-BBC0B793DC00AC24D03A5D5D90E7C1CA"
      unitRef="usd">54617000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherLodgingRevenueMember"
      decimals="-3"
      id="d5432036e1798-wk-Fact-772E4D1FD876586781C75D5D90D53CEB"
      unitRef="usd">47577000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1824-wk-Fact-5146CB1EF58C9246254D5D5D90D8BC5E"
      unitRef="usd">237865000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1843-wk-Fact-EDF68363AB96A5D1EEDD5D5D90D1C955"
      unitRef="usd">300332000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1862-wk-Fact-07679142F1AA2FA138625D5D90E32C27"
      unitRef="usd">270802000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1888-wk-Fact-4A0994DC2397FEF4CB895D5D90E3AC0A"
      unitRef="usd">10549000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1907-wk-Fact-FDECB67358980BAC4E515D5D90D5A5BF"
      unitRef="usd">14330000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_PayrollcostreimbursementsMember"
      decimals="-3"
      id="d5432036e1926-wk-Fact-B8F4732872D4E847A4F55D5D90D5387A"
      unitRef="usd">13841000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5432036e1957-wk-Fact-C138D921906F2757C1B25D5D90DBAB30"
      unitRef="usd">248414000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5432036e1976-wk-Fact-8A88E895DABB3B6DCFEB5D5D90E968EC"
      unitRef="usd">314662000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5432036e1996-wk-Fact-F97B98F94853BA6B10AC5D5D90DF44D9"
      unitRef="usd">284643000</mtn:LodgingRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5432036e2021-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE"
      unitRef="usd">1958857000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5432036e2040-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B"
      unitRef="usd">2270863000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5432036e2060-wk-Fact-20C24236F537BF44B0EE5D5D918422F6"
      unitRef="usd">2007565000</mtn:ResortRevenueNet>
    <mtn:RealEstateRevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5432036e2080-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C"
      unitRef="usd">4847000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5432036e2099-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D"
      unitRef="usd">712000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5432036e2118-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08"
      unitRef="usd">3988000</mtn:RealEstateRevenue>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5432036e2149-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F"
      unitRef="usd">1963704000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5432036e2168-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC"
      unitRef="usd">2271575000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5432036e2188-wk-Fact-13BF56D36D16097543555D5D919C600C"
      unitRef="usd">2011553000</us-gaap:Revenues>
    <us-gaap:DeferredRevenueCurrent
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5432036e2211-wk-Fact-A6655FF4ACBCE60BC6F95D5D90D88866"
      unitRef="usd">256400000</us-gaap:DeferredRevenueCurrent>
    <us-gaap:DeferredRevenueCurrent
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5432036e2215-wk-Fact-3E833C33E9E8DFB789DE5D5D90D60C35"
      unitRef="usd">335700000</us-gaap:DeferredRevenueCurrent>
    <us-gaap:ContractWithCustomerLiability
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5432036e2219-wk-Fact-2A50D808F84E9F445CC75D5D90D3E839"
      unitRef="usd">121900000</us-gaap:ContractWithCustomerLiability>
    <us-gaap:ContractWithCustomerLiability
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5432036e2223-wk-Fact-6E821A3743148B6D742D5D5D91BE10F8"
      unitRef="usd">124300000</us-gaap:ContractWithCustomerLiability>
    <us-gaap:ContractWithCustomerLiabilityRevenueRecognized
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5432036e2227-wk-Fact-921ADEDCAA9690F1E4495D5D90DC65F6"
      unitRef="usd">266500000</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
    <mtn:PrivateClubRecognizedInitiationFeesAverageRemainingPeriod
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5432036e2232-wk-Fact-5D5812DB1837662BFA4680B4873A6E3F"
      unitRef="number">16</mtn:PrivateClubRecognizedInitiationFeesAverageRemainingPeriod>
    <us-gaap:AccountsReceivableNetCurrent
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5432036e2239-wk-Fact-141A144CEA02BB8C3DD198FFD932FEB5"
      unitRef="usd">106700000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5432036e2243-wk-Fact-D5437AAF038E57E19D215D5D90DE709F"
      unitRef="usd">270900000</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:CapitalizedContractCostNet
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5432036e2257-wk-Fact-0EFB5F4425BA393666585D5D91BF5BF8"
      unitRef="usd">3500000</us-gaap:CapitalizedContractCostNet>
    <us-gaap:CapitalizedContractCostAmortization
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5432036e2261-wk-Fact-7FFC9F7F51817AEC1A0F5D5D91BD0A27"
      unitRef="usd">11000000.0</us-gaap:CapitalizedContractCostAmortization>
    <us-gaap:CapitalizedContractCostAmortization
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5432036e2265-wk-Fact-BB8E308433EE06B4A96B5D5D90D4D846"
      unitRef="usd">10600000</us-gaap:CapitalizedContractCostAmortization>
    <us-gaap:CapitalizedContractCostAmortization
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5432036e2269-wk-Fact-38A8D136F86CBA6B9ECE5D5D90E075A8"
      unitRef="usd">8300000</us-gaap:CapitalizedContractCostAmortization>
    <us-gaap:LeasesOfLesseeDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-FA15FC8B2FC383FE03F08AF2312288DD-0-wk-Fact-C6EB479EF066CC432C7E8AF297D7CC39">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;4.&#160;&#160;&#160;&#160; Leases&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company&#x2019;s operating leases consist primarily of commercial and retail space, office space, employee residential units, vehicles and other equipment. The Company determines if an arrangement is or contains a lease at contract inception or modification. The Company&#x2019;s lease contracts generally range from&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; year&#160;to&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;60&#160;years&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, with some lease contracts containing one or more lease extension options, exercisable at the Company&#x2019;s discretion. The Company generally does not include these lease extension options in the initial lease term as it is not reasonably certain that it will exercise such options at contract inception. In addition, certain lease arrangements contain fixed and variable lease payments. The variable lease payments are primarily contingent rental payments based on: (i) a percentage of revenue related to the leased property; (ii) payments based on a percentage of sales over contractual levels; or (iii) lease payments adjusted for changes in an index or market value. These variable lease payments are typically recognized when the underlying event occurs and are included in operating expenses in the Company&#x2019;s Consolidated Statements of Operations in the same line item as the expense arising from fixed lease payments. The Company&#x2019;s lease agreements may also include non-lease components, such as common area maintenance and insurance, which are accounted for separately. Future lease payments that are contingent and non-lease components are not included in the measurement of the operating lease liability. The Company&#x2019;s lease agreements do not contain any material residual value guarantees or restrictive covenants. Lease expense related to lease payments is recognized on a straight-line basis over the term of the lease.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company&#x2019;s leases do not provide a readily determinable implicit rate. As a result, the Company measures the lease liability using an estimated incremental borrowing rate which is intended to reflect the rate of interest the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The Company applies the estimated incremental borrowing rates at a portfolio level based on the economic environment associated with the lease.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company uses the long-lived assets impairment guidance to determine recognition and measurement of an ROU asset impairment, if any. The Company monitors for events or changes in circumstances that require a reassessment.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The components of lease expense for the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Year Ended &lt;br/&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Finance leases:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Amortization of the finance ROU assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,753&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest on lease liabilities &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,035&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating leases:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,303&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Short-term lease expense &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,943&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Variable lease expense &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,583&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(1) Short-term lease expense is attributable to leases with terms of 12 months or less which are not included within the Company&#x2019;s Consolidated Balance Sheet.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following table presents the supplemental cash flow information associated with the Company&#x2019;s leasing activities for the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended &lt;br/&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Cash flow supplemental information:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating cash outflows for operating leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;55,344&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating cash outflows for finance leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,311&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Financing cash outflows for finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,387&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Non-cash supplemental information:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating ROU assets obtained in exchange for operating lease obligations &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,013&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average remaining lease terms and discount rates are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:20%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;As of July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-average remaining lease term (in years)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.6&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-average discount rate &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Future lease payments for operating and finance leases as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; reflected by fiscal year (August 1 through July 31) are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:57%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating Leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Finance Leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,013&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,699&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,353&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,982&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,431&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2025&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;32,405&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;31,193&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;137,501&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,773,855&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total future minimum lease payments &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;333,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,923,824&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less amount representing interest &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(79,256&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,577,790&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total lease liabilities &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;254,146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;346,034&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The current portion of operating lease liabilities of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$36.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is recorded within accounts payables and accrued liabilities in the Consolidated Balance Sheet. Finance lease liabilities are recorded within long-term debt, net in the Consolidated Balance Sheets.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Future minimum lease payments in accordance with Topic 840 as of July 31, 2019, reflected by fiscal year (August 1 through July 31), were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:57%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating Leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Capital Leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,984&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,253&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,512&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;39,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,840&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,982&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,836&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;142,526&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,805,048&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total future minimum lease payments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,952,077&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less amount representing interest&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,611,816&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net future minimum lease payments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,261&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Canyons finance lease obligation represents the only material finance lease entered into by the Company and was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$346.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which represents the estimated annual lease payments for the remaining initial 50 year term of the lease assuming annual increases at the floor of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and discounted using an interest rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;10%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company has recorded &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$117.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of finance lease ROU assets in connection with the Canyons lease, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$65.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of accumulated amortization, which is included within property, plant and equipment, net in the Company&#x2019;s Consolidated Balance Sheet.&lt;/span&gt;&lt;/div&gt;</us-gaap:LeasesOfLesseeDisclosureTextBlock>
    <us-gaap:LeaseCostTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-421AD09AE7AD126E8F908AECA6668E7F-0-wk-Fact-8F387F4E4E49EA5FAC248AECFE8B2954">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The components of lease expense for the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Year Ended &lt;br/&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Finance leases:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Amortization of the finance ROU assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,753&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest on lease liabilities &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,035&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating leases:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,303&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Short-term lease expense &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,943&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Variable lease expense &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,583&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:LeaseCostTableTextBlock>
    <us-gaap:FinanceLeaseRightOfUseAssetAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e775-wk-Fact-EC9A712BDABA2B6E8C3F8CF764A5E7DD"
      unitRef="usd">9753000</us-gaap:FinanceLeaseRightOfUseAssetAmortization>
    <us-gaap:FinanceLeaseInterestExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e800-wk-Fact-808EAB703DF4BDB97CA78CF7A17A84C7"
      unitRef="usd">34035000</us-gaap:FinanceLeaseInterestExpense>
    <us-gaap:OperatingLeaseExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e851-wk-Fact-C27C8E1048BE155D1A218CF7DC735742"
      unitRef="usd">43303000</us-gaap:OperatingLeaseExpense>
    <us-gaap:ShortTermLeaseCost
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e878-wk-Fact-E2E88EB7BB5ABF8E7F578CF8114A76B4"
      unitRef="usd">13943000</us-gaap:ShortTermLeaseCost>
    <us-gaap:VariableLeaseCost
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e903-wk-Fact-515E1BBC7246ACA53CFE8CF85E7447BD"
      unitRef="usd">1583000</us-gaap:VariableLeaseCost>
    <us-gaap:CashFlowSupplementalDisclosuresTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-FD2F1625B03D4B85AC818AED2CA3701A-0-wk-Fact-B111BF08C3505CD604588CF4336FDE0E">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following table presents the supplemental cash flow information associated with the Company&#x2019;s leasing activities for the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended &lt;br/&gt;July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Cash flow supplemental information:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating cash outflows for operating leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;55,344&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating cash outflows for finance leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,311&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Financing cash outflows for finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,387&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Non-cash supplemental information:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating ROU assets obtained in exchange for operating lease obligations &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,013&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:CashFlowSupplementalDisclosuresTextBlock>
    <us-gaap:OperatingLeasePayments
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e1005-wk-Fact-CEC38FBB3FB185008D738CF94E70419E"
      unitRef="usd">55344000</us-gaap:OperatingLeasePayments>
    <mtn:OperatingCashOutflowsforFinanceLeases
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e1030-wk-Fact-E981474CB68FE3AEDFDC8CF9E9D4A3DC"
      unitRef="usd">29311000</mtn:OperatingCashOutflowsforFinanceLeases>
    <mtn:FinancingCashOutflowsforFinanceLeases
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e1055-wk-Fact-D915BBFDC8489DC016148CFA6D112423"
      unitRef="usd">5387000</mtn:FinancingCashOutflowsforFinanceLeases>
    <us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5433788e1106-wk-Fact-FE35DA4E76C85B48543C97FD553833ED"
      unitRef="usd">18013000</us-gaap:RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability>
    <mtn:WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B84F55BAD17AD478AD798AF165BEE78B-0-wk-Fact-666E4069A81872FF1F768CF4F6AFF86C">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average remaining lease terms and discount rates are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:78%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:20%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;As of July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-average remaining lease term (in years)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.6&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-average discount rate &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Finance leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</mtn:WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock>
    <us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1
      contextRef="FI2020Q4"
      id="d5433788e1185-wk-Fact-BB230C67A95C79C5802C8CFB3AEFDCFB">P10Y7M6D</us-gaap:OperatingLeaseWeightedAverageRemainingLeaseTerm1>
    <us-gaap:FinanceLeaseWeightedAverageRemainingLeaseTerm1
      contextRef="FI2020Q4"
      id="d5433788e1205-wk-Fact-44A3777A56B29FE8A9B18CFB7AED12EC">P42Y10M24D</us-gaap:FinanceLeaseWeightedAverageRemainingLeaseTerm1>
    <us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent
      contextRef="FI2020Q4"
      decimals="INF"
      id="d5433788e1246-wk-Fact-AAA6AC07FBBA13E1A6408CFBB068EC2E"
      unitRef="number">0.045</us-gaap:OperatingLeaseWeightedAverageDiscountRatePercent>
    <us-gaap:FinanceLeaseWeightedAverageDiscountRatePercent
      contextRef="FI2020Q4"
      decimals="INF"
      id="d5433788e1267-wk-Fact-67A39CF93E4B0421F1B28CFBEFB9B919"
      unitRef="number">0.100</us-gaap:FinanceLeaseWeightedAverageDiscountRatePercent>
    <mtn:ScheduleofFutureMinimumLeasePaymentsTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-8A74EE159E1D837453378AF1F0B2203D-0-wk-Fact-1F5171E9A90850BFB0828CF558E31D58">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Future lease payments for operating and finance leases as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; reflected by fiscal year (August 1 through July 31) are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:57%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating Leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Finance Leases &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;47,013&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,699&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,353&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,982&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,431&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2025&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;32,405&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;31,193&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;137,501&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,773,855&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total future minimum lease payments &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;333,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,923,824&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less amount representing interest &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(79,256&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,577,790&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total lease liabilities &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;254,146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;346,034&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The current portion of operating lease liabilities of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$36.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is recorded within accounts payables and accrued liabilities in the Consolidated Balance Sheet. Finance lease liabilities are recorded within long-term debt, net in the Consolidated Balance Sheets.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Future minimum lease payments in accordance with Topic 840 as of July 31, 2019, reflected by fiscal year (August 1 through July 31), were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:57%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:19%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Operating Leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Capital Leases&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;44,984&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,253&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,512&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;39,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,840&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29,982&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,836&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;30,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;142,526&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,805,048&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total future minimum lease payments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,952,077&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less amount representing interest&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,611,816&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net future minimum lease payments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,261&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</mtn:ScheduleofFutureMinimumLeasePaymentsTableTextBlock>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1355-wk-Fact-6E6F447F1C408092FF178D0562970B30"
      unitRef="usd">47013000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1374-wk-Fact-D0E36F62A45C5FDE60D08D09C0E1B9A2"
      unitRef="usd">28818000</us-gaap:FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1389-wk-Fact-BB8305315C710D753BC08D058F18BA66"
      unitRef="usd">43699000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueYearTwo
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1408-wk-Fact-30400C46AC2A31ED55578D0A16BC29BB"
      unitRef="usd">29394000</us-gaap:FinanceLeaseLiabilityPaymentsDueYearTwo>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1428-wk-Fact-38821D2E131D54538D648D05C4D1FBDD"
      unitRef="usd">38353000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueYearThree
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1447-wk-Fact-44D5DE19367D2E19897A8D0A69B81793"
      unitRef="usd">29982000</us-gaap:FinanceLeaseLiabilityPaymentsDueYearThree>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1467-wk-Fact-6C21DB45D0627D9418FF8D05FE69A741"
      unitRef="usd">34431000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueYearFour
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1486-wk-Fact-9BA3B1E0EE03F412BAD88D0AB24EF7E5"
      unitRef="usd">30582000</us-gaap:FinanceLeaseLiabilityPaymentsDueYearFour>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1506-wk-Fact-1F8CBC78A202E335F9698D067D965EE8"
      unitRef="usd">32405000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1525-wk-Fact-80DB2BF571EED1E8E70C8D0B066BC5F6"
      unitRef="usd">31193000</us-gaap:FinanceLeaseLiabilityPaymentsDueYearFive>
    <us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1545-wk-Fact-D1185554D1F48EAAD7BB8D071AE655EC"
      unitRef="usd">137501000</us-gaap:LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive>
    <us-gaap:FinanceLeaseLiabilityPaymentsDueAfterYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1564-wk-Fact-D008AC4E54CA4B26ADBF8D0B7EAECD56"
      unitRef="usd">1773855000</us-gaap:FinanceLeaseLiabilityPaymentsDueAfterYearFive>
    <us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1584-wk-Fact-FF2BD4D9736128CBA5C28D08469856CE"
      unitRef="usd">333402000</us-gaap:LesseeOperatingLeaseLiabilityPaymentsDue>
    <us-gaap:FinanceLeaseLiabilityPaymentsDue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1603-wk-Fact-7968349A470F9227BB1C8D0BCD3B8231"
      unitRef="usd">1923824000</us-gaap:FinanceLeaseLiabilityPaymentsDue>
    <us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1623-wk-Fact-D70A0663D03070A889C08D08AFF120EA"
      unitRef="usd">79256000</us-gaap:LesseeOperatingLeaseLiabilityUndiscountedExcessAmount>
    <us-gaap:FinanceLeaseLiabilityUndiscountedExcessAmount
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1643-wk-Fact-8D7B546495B4C10B60148D0C24DD4383"
      unitRef="usd">1577790000</us-gaap:FinanceLeaseLiabilityUndiscountedExcessAmount>
    <us-gaap:OperatingLeaseLiability
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1669-wk-Fact-485E2F979A74585BA0368D08FF79B720"
      unitRef="usd">254146000</us-gaap:OperatingLeaseLiability>
    <us-gaap:FinanceLeaseLiability
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5433788e1688-wk-Fact-3B48DBEC3A070EAD44938D0C6B723899"
      unitRef="usd">346034000</us-gaap:FinanceLeaseLiability>
    <us-gaap:OperatingLeaseLiabilityCurrent
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5433788e1697-wk-Fact-D199493EE29931DD65C28D1A54E3839C"
      unitRef="usd">36600000</us-gaap:OperatingLeaseLiabilityCurrent>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1779-wk-Fact-89A423893853DF987FC68D0F10DA7B41"
      unitRef="usd">44984000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1798-wk-Fact-B626A1837BD2EB1CDB658D1138E5BE18"
      unitRef="usd">28253000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueCurrent>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1813-wk-Fact-D308E164B709DE2C44E48D0F69D38838"
      unitRef="usd">42512000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInTwoYears>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1832-wk-Fact-95FA8EEACFB202BB46728D1184F860C0"
      unitRef="usd">28818000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInTwoYears>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1852-wk-Fact-F2D10485630D5411384C8D0FAE92E042"
      unitRef="usd">39440000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInThreeYears>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1871-wk-Fact-620AEC32754041C6ADA28D11DDDEC754"
      unitRef="usd">29394000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInThreeYears>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1891-wk-Fact-D85AE084513CC4BE56DE8D10025C397C"
      unitRef="usd">34840000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFourYears>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1910-wk-Fact-D2E25807BAD9307F365B8D1241C79A48"
      unitRef="usd">29982000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFourYears>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1930-wk-Fact-E781FCCD3C170B014B6A8D104B333364"
      unitRef="usd">30836000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueInFiveYears>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1949-wk-Fact-090C930CB07BAE2163AF8D12B1C5EBC1"
      unitRef="usd">30582000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInFiveYears>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1969-wk-Fact-562AE3F24945F8D9941A8D10A06B1B72"
      unitRef="usd">142526000</us-gaap:OperatingLeasesFutureMinimumPaymentsDueThereafter>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e1988-wk-Fact-3C21662B00810DBD7C878D12F36E6024"
      unitRef="usd">1805048000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueThereafter>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e2008-wk-Fact-092055FF8C72C9DE0F118D10F4B669F2"
      unitRef="usd">335138000</us-gaap:OperatingLeasesFutureMinimumPaymentsDue>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsDue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e2027-wk-Fact-0EBF50D582B4D5FFCFBA8D13340D0924"
      unitRef="usd">1952077000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e2066-wk-Fact-2CC3B19A7290D52E944D8D13C0BAD1D1"
      unitRef="usd">1611816000</us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments>
    <us-gaap:OperatingLeasesFutureMinimumPaymentsDue
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e2092-wk-Fact-092055FF8C72C9DE0F118D10F4B669F2"
      unitRef="usd">335138000</us-gaap:OperatingLeasesFutureMinimumPaymentsDue>
    <us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5433788e2111-wk-Fact-C965FFE0D961DE7D545B8D14181A2CD1"
      unitRef="usd">340261000</us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember"
      decimals="-5"
      id="d5433788e2123-wk-Fact-327CA973597A727D87098D1C6E28225F"
      unitRef="usd">346000000.0</us-gaap:LongTermDebt>
    <us-gaap:FinanceLeaseRightOfUseAsset
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5433788e2144-wk-Fact-B793B79BD030E85BC2218D237BFD9962"
      unitRef="usd">117800000</us-gaap:FinanceLeaseRightOfUseAsset>
    <us-gaap:FinanceLeaseRightOfUseAssetAccumulatedAmortization
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5433788e2148-wk-Fact-08286ED01BFB6589E2A58D24CC5D91C8"
      unitRef="usd">65800000</us-gaap:FinanceLeaseRightOfUseAssetAccumulatedAmortization>
    <us-gaap:EarningsPerShareTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5BE84DD3CE93AF4CC21F5D5D91DDA4CC-0-wk-Fact-C9AA2573AB954D16B1135D5D90F96912">Net Income Per Common Share&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Earnings per Share&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Basic earnings per share (&#x201c;EPS&#x201d;) excludes dilution and is computed by dividing net income attributable to Vail Resorts stockholders by the weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then share in the earnings of Vail Resorts. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In connection with the Company&#x2019;s acquisition of Whistler Blackcomb in October 2016 (see Note 7, Acquisitions), the Company issued consideration in the form of shares of Vail Resorts common stock (the &#x201c;Vail Shares&#x201d;) and shares of the Company&#x2019;s wholly-owned Canadian subsidiary (&#x201c;Exchangeco&#x201d;). Whistler Blackcomb shareholders elected to receive&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,327,719&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;Vail Shares and&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;418,095&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;shares of Exchangeco (the &#x201c;Exchangeco Shares&#x201d;). Both Vail Shares and Exchangeco Shares have a par value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$0.01&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;per share, and Exchangeco Shares, while outstanding, are substantially the economic equivalent of the Vail Shares and are exchangeable, at any time prior to the seventh anniversary of the closing of the acquisition, into Vail Shares. The Company&#x2019;s calculation of weighted-average shares outstanding includes the Exchangeco Shares.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Presented below is basic and diluted EPS for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands, except per share amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.4140625%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="19"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:46%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Net income per share:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to Vail Resorts&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,227&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,227&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,292&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,292&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,337&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,337&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average Exchangeco shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Weighted-average shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effect of dilutive securities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total shares&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,618&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.42&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9.40&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9.13&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards that were excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Dividends&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;For the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company paid cash dividends of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.28&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per share (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$212.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in the aggregate). The Company announced on April 1, 2020 that it would be suspending its quarterly dividend for at least the next two quarters, and will be subject to a dividend limitation under the Financial Covenants Temporary Waiver Period of the Vail Holdings Credit Agreement (as defined in Note 6, Long-Term Debt).&lt;/span&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
    <us-gaap:StockIssuedDuringPeriodSharesNewIssues
      contextRef="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember"
      decimals="0"
      id="d5435086e686-wk-Fact-1402C264C82D85330C385D5D90FDF0BF"
      unitRef="shares">3327719</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
    <us-gaap:StockIssuedDuringPeriodSharesNewIssues
      contextRef="FD2017Q4YTD_us-gaap_StatementEquityComponentsAxis_mtn_ExchangeableSharesMember"
      decimals="0"
      id="d5435086e690-wk-Fact-350FF4E276B7213D50C25D5D90FDFAE2"
      unitRef="shares">418095</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
    <mtn:ExchangeableSharesParValuePerShare
      contextRef="FI2020Q4"
      decimals="INF"
      id="d5435086e694-wk-Fact-392BAFDF23EEB440CC9BB22395F4D64A"
      unitRef="usdPerShare">0.01</mtn:ExchangeableSharesParValuePerShare>
    <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-E5700D7BC3B4AAE28DA65D5D91DD46A0-0-wk-Fact-3E4E3F426D494FB73A975D5D910695F3">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Presented below is basic and diluted EPS for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands, except per share amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.4140625%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="19"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:46%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:7%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Basic&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Diluted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Net income per share:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to Vail Resorts&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,227&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,227&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,292&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,292&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,337&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,337&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Weighted-average Exchangeco shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Weighted-average shares outstanding&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effect of dilutive securities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total shares&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,273&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40,397&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,618&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.42&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9.40&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9.13&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1152-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1166-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1180-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1195-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1209-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1223-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1238-wk-Fact-8006720D6E3FA0870BC15D5D90E1FA96"
      unitRef="shares">40227000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1252-wk-Fact-8006720D6E3FA0870BC15D5D90E1FA96"
      unitRef="shares">40227000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1266-wk-Fact-11CAB869DD6E55F64DB85D5D90D992CA"
      unitRef="shares">40292000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1280-wk-Fact-11CAB869DD6E55F64DB85D5D90D992CA"
      unitRef="shares">40292000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1295-wk-Fact-51880896DDAFCDFE5B0E5D5D90E432F4"
      unitRef="shares">40337000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingCommon
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1309-wk-Fact-51880896DDAFCDFE5B0E5D5D90E432F4"
      unitRef="shares">40337000</mtn:WeightedAverageNumberofSharesOutstandingCommon>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1329-wk-Fact-B84F004B6212AE359BC15D5D90DA17C0"
      unitRef="shares">46000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1343-wk-Fact-B84F004B6212AE359BC15D5D90DA17C0"
      unitRef="shares">46000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1357-wk-Fact-3F9D4F9342309DEC9C2180B5C7975B08"
      unitRef="shares">57000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1371-wk-Fact-3F9D4F9342309DEC9C2180B5C7975B08"
      unitRef="shares">57000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1386-wk-Fact-4CA143AECE28CE52487180B5C79FDA57"
      unitRef="shares">60000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <mtn:WeightedAverageNumberofSharesOutstandingExchangeable
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1400-wk-Fact-4CA143AECE28CE52487180B5C79FDA57"
      unitRef="shares">60000</mtn:WeightedAverageNumberofSharesOutstandingExchangeable>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1420-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF"
      unitRef="shares">40273000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1434-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF"
      unitRef="shares">40273000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1448-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6"
      unitRef="shares">40349000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1462-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6"
      unitRef="shares">40349000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1477-wk-Fact-13D169902D92559E7B7D5D5D90E59457"
      unitRef="shares">40397000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1491-wk-Fact-13D169902D92559E7B7D5D5D90E59457"
      unitRef="shares">40397000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1525-wk-Fact-4586AD6BB5E48807C8235D5D90D9C167"
      unitRef="shares">565000</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
    <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1553-wk-Fact-78FE8F5F267A3454BBB05D5D90E2D9BC"
      unitRef="shares">809000</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
    <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1582-wk-Fact-44DF38DA3A458BDA56915D5D90DD89FC"
      unitRef="shares">1221000</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1602-wk-Fact-88CA7752FEF1AFCC31505D5D90DC3FCF"
      unitRef="shares">40273000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5435086e1616-wk-Fact-DD2A25138F757FD5F38A5D5D90DB144B"
      unitRef="shares">40838000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1630-wk-Fact-CDBFB59E0040A6EABD2C5D5D90D948B6"
      unitRef="shares">40349000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5435086e1644-wk-Fact-6311A6C19021ABDF24315D5D90D73927"
      unitRef="shares">41158000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1659-wk-Fact-13D169902D92559E7B7D5D5D90E59457"
      unitRef="shares">40397000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
    <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5435086e1673-wk-Fact-09AD3E96B8A1928EA3E95D5D90DFD486"
      unitRef="shares">41618000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5435086e1698-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED"
      unitRef="usdPerShare">2.45</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5435086e1712-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641"
      unitRef="usdPerShare">2.42</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5435086e1726-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826"
      unitRef="usdPerShare">7.46</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5435086e1741-wk-Fact-769B2B2962B5367305AD5D5D91863542"
      unitRef="usdPerShare">7.32</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5435086e1755-wk-Fact-E4FCB5427F5331C336895D5D918EFC6F"
      unitRef="usdPerShare">9.40</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5435086e1769-wk-Fact-1F695C41E87726FFE3755D5D90CC9562"
      unitRef="usdPerShare">9.13</us-gaap:EarningsPerShareDiluted>
    <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
      contextRef="FD2020Q4YTD"
      decimals="0"
      id="d5435086e1790-wk-Fact-30041AB40B31590CBB785D5D914AF7A2"
      unitRef="shares">2000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
    <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
      contextRef="FD2019Q4YTD"
      decimals="0"
      id="d5435086e1794-wk-Fact-5D7B44CCF893778539C35D5D9106A546"
      unitRef="shares">4000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
    <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
      contextRef="FD2018Q4YTD"
      decimals="0"
      id="d5435086e1798-wk-Fact-BD8A9066068C0B0A54345D5D9100B264"
      unitRef="shares">2000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
    <us-gaap:CommonStockDividendsPerShareCashPaid
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5435086e1825-wk-Fact-550D9C7303E4740B7C0280B7966A565F"
      unitRef="usdPerShare">5.28</us-gaap:CommonStockDividendsPerShareCashPaid>
    <us-gaap:PaymentsOfDividends
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5435086e1829-wk-Fact-AE38BB940EB5CB8474B380B76410EEC7"
      unitRef="usd">212700000</us-gaap:PaymentsOfDividends>
    <us-gaap:DebtDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-0E707A66C4B4B60ACFB55D5D91DE20B9-0-wk-Fact-B3C7A36139BE0F42863F5D5D910F4524">Long-Term Debt&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Long-term debt as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is summarized as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Maturity&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July&#160;31, &lt;br/&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July&#160;31, &lt;br/&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Holdings Credit Agreement revolver &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(a)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;208,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Holdings Credit Agreement term loan &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(a)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,203,125&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;914,375&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.25% Notes&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;&#160;(b)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2025&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;600,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Whistler Credit Agreement revolver &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(c)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;58,236&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;45,454&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EPR Secured Notes &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(d)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2034-2036&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;114,162&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EB-5 Development Notes &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(e)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;51,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Employee housing bonds &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(f)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2027-2039&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Canyons obligation &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(g)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2063&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;346,034&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,261&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;&#160;(h)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2020-2033&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,616&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,465&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,444,248&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,580,130&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: Unamortized premiums, discounts and debt issuance costs &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(i)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(6,551&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,870&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: Current maturities &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(j)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,677&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;48,516&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Long-term debt, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,387,122&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,527,744&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(a)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On September 23, 2019, in order to fund the acquisition of Peak Resorts, Inc. (&#x201c;Peak Resorts&#x201d;), which included the prepayment of certain portions of the outstanding debt and lease obligations of Peak Resorts contemporaneous with the closing of the transaction (see Note 7, Acquisitions), the Company&#x2019;s wholly-owned subsidiary, Vail Holdings, Inc. (&#x201c;VHI&#x201d;), entered into the Second Amendment to the Eighth Amended and Restated Credit Agreement (the &#x201c;Vail Holdings Credit Agreement&#x201d;), with Bank of America, N.A., as administrative agent, and other lenders named therein, through which those lenders agreed to provide an additional &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$335.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in incremental term loans and agreed, on behalf of all lenders, to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to September 23, 2024. No other material terms of the Vail Holdings Credit Agreement were altered under the amendment. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On April 28, 2020, VHI, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into a Third Amendment to the Vail Holdings Credit Agreement (the&#160;&#x201c;Third Amendment&#x201d;). Pursuant to the Third Amendment, among other terms, VHI is exempt from complying with the Vail Holdings Credit Agreement&#x2019;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless VHI makes a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#x201c;Financial Covenants Temporary Waiver Period&#x201d;), after which VHI will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by VHI). After the expiration of the Financial Covenants Temporary Waiver Period:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter as follows:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(A) first full fiscal quarter: 6.25 to 1.00;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(B) second full fiscal quarter: 5.75 to 1.00;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(C) third full fiscal quarter: 5.25 to 1.00; and&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In addition, VHI is required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under the Vail Holdings Credit Agreement revolver) of not less than &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$150.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, during the period that began on July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#x2019; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company is prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the Lenders):&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$38.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in any fiscal quarter;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making capital expenditures in excess of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$200.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$300.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making investments in non-subsidiaries in excess of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$50.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in the aggregate; and&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.25 billion&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Credit Agreement). &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Vail Holdings Credit Agreement consists of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$500.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; revolving credit facility and a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.2 billion&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; outstanding term loan facility. The term loan facility is subject to quarterly amortization of principal of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$15.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (which began in January&#160;2020), in equal installments, for a total of 5% of principal payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due in September 2024. The proceeds of the loans made under the Vail Holdings Credit Agreement may be used to fund the Company&#x2019;s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit, subject to the Financial Covenants Temporary Waiver Period limitations, as discussed above. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.66%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of July 31, 2020 for $400.0 million of borrowings, and for amounts in excess of $400.0 million in which LIBOR is subject to a floor of 0.75% during the Financial Covenants Temporary Waiver Period, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.25%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). Other than as impacted by the provisions in place during the Financial Covenants Temporary Waiver Period, interest rate margins may fluctuate based upon the ratio of the Company&#x2019;s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. The Vail Holdings Credit Agreement also includes a quarterly unused commitment fee, which is equal to a percentage determined by the Net Funded Debt to Adjusted EBITDA ratio, as each such term is defined in the Vail Holdings Credit Agreement, multiplied by the daily amount by which the Vail Holdings Credit Agreement commitment exceeds the total of outstanding loans and outstanding letters of credit (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.4%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). During the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company entered into various interest rate swap agreements to hedge the LIBOR-based variable interest rate component of underlying cash flows of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in principal amount of its Vail Holdings Credit Agreement for the remaining term of the agreement at an effective rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.46%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(b)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On May 4, 2020, the Company completed its offering of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$600 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; aggregate principal amount of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6.25%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; senior notes due 2025 at par (the &#x201c;Notes&#x201d;), and a portion of the net proceeds were utilized to pay down the outstanding balance of the revolver component of its Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining net proceeds intended to be used for general corporate purposes.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#x201c;Indenture&#x201d;) plus accrued and unpaid interest. Prior to May 15, 2022, the Company may redeem some or all of the Notes at a redemption price of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;100%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the principal amount, plus accrued and unpaid interest, plus a &#x201c;make-whole&#x201d; premium as specified in the Indenture.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt; In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. &lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Notes are senior unsecured obligations of the Company, are guaranteed by certain of the Company&#x2019;s domestic subsidiaries, and rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#x2019;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(c)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Whistler Mountain Resort Limited Partnership (&#x201c;Whistler LP&#x201d;) and Blackcomb Skiing Enterprises Limited Partnership (&#x201c;Blackcomb LP&#x201d;), together &#x201c;The WB Partnerships,&#x201d; are party to a credit agreement, dated as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;November 12, 2013&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (as amended, the &#x201c;Whistler Credit Agreement&#x201d;), by and among Whistler LP, Blackcomb LP, certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the &#x201c;Whistler Subsidiary Guarantors&#x201d;), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;C$300.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; revolving credit facility, and during the year ended July 31, 2020, the Company entered into an amendment of the Whistler Credit Agreement which extended the maturity date of the revolving credit facility to&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;December&#160;15, 2024&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. No other material terms of the Whistler Credit Agreement were altered. The WB Partnerships&#x2019; obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to&#160;C$75.0 million, subject to lender approval.&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#x2019; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#x2019; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#x2019; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&#160;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, all borrowings under the Whistler Credit Agreement were made in Canadian dollars and by way of the issuance of bankers&#x2019; acceptances plus &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2.25%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.79%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is equal to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.5063%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum.&#160; The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships&#x2019; ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(d)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On September 24, 2019, in conjunction with the acquisition of Peak Resorts (see Note 7, Acquisitions), the Company assumed various secured borrowings (the &#x201c;EPR Secured Notes&#x201d;) under the master credit and security agreements and other related agreements, as amended, (collectively, the &#x201c;EPR Agreements&#x201d;) with EPT Ski Properties, Inc. and its affiliates (&#x201c;EPR&#x201d;). The EPR Secured Notes include the following:&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;i.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Alpine Valley Secured Note. &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Alpine Valley Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11.21%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;ii.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Boston Mills/Brandywine Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$23.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Boston Mills/Brandywine Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;iii.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Jack Frost/Big Boulder Secured Note. &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$14.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Jack Frost/Big Boulder Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;iv.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Mount Snow Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$51.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Mount Snow Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11.78%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;v.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Hunter Mountain Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$21.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Hunter Mountain Secured Note provides for interest payments through its maturity on January 5, 2036. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8.57%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The EPR Secured Notes are secured by all or substantially all of the assets of Peak Resorts and its subsidiaries, including mortgages on the Alpine Valley, Boston Mills, Brandywine, Jack Frost, Big Boulder, Mount Snow and Hunter Mountain ski resorts. The EPR Secured Notes bear interest at specified interest rates, as discussed above, which are subject to increase each year by the lesser of (i) three times the percentage increase in the Consumer Price Index or (ii) a capped index (the &#x201c;Capped CPI Index&#x201d;), which is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for the Hunter Mountain Secured Note and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.50%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for all other notes. The EPR Agreements provide for affirmative and negative covenants that restrict, among other things, the ability of Peak Resorts and its subsidiaries to incur indebtedness, dispose of assets, make distributions and make investments. In addition, the EPR Agreements include restrictive covenants, including maximum leverage ratio and consolidated fixed charge ratio. An additional contingent interest payment would be due to EPR if, on a calendar year basis, the gross receipts from the properties securing any of the individual EPR Secured Notes (the &#x201c;Gross Receipts&#x201d;) are more than the result (the &#x201c;Interest Quotient&#x201d;) of dividing the total interest charges for the EPR Secured Notes by a specified percentage rate (the &#x201c;Additional Interest Rate&#x201d;). In such a case, the additional interest payment would equal the difference between the Gross Receipts and the Interest Quotient multiplied by the Additional Interest Rate. This calculation is made on an aggregated basis for the notes secured by the Jack Frost, Big Boulder, Boston Mills, Brandywine and Alpine Valley ski resorts, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;; on a standalone basis for the note secured by the Company&#x2019;s Mount Snow ski resort, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;; and on a standalone basis for the note secured by the Company&#x2019;s Hunter Mountain ski resort, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Peak Resorts does not have the right to prepay the EPR Secured Notes. The EPR Secured Notes were recorded at their estimated fair value in conjunction with the acquisition of Peak Resorts on September 24, 2019. The EPR Agreements grant EPR certain other rights including (i) the option to purchase the Boston Mills, Brandywine, Jack Frost, Big Boulder or Alpine Valley resorts, which is exercisable no sooner than two years and no later than one year prior to the maturity dates of the applicable EPR Secured Note for such properties, with any closings to be held on the applicable maturity dates; and, if EPR exercises the purchase option, EPR will enter into an agreement with the Company for the lease of each acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each; (ii) a right of first refusal through 2021, subject to certain conditions, to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by Peak Resorts with respect to any new or existing ski resort properties; and (iii) a right of first refusal through 2021 to purchase the Company&#x2019;s Attitash ski resort in the event the Company were to desire to sell the Attitash ski resort. To date, EPR has not exercised any such purchase options. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In addition, Peak Resorts is required to maintain a debt service reserve account which amounts are applied to fund interest payments and other amounts due and payable to EPR. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; the Company had funded the EPR debt service reserve account in an amount equal to approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which was included in other current assets in the Company&#x2019;s Consolidated Balance Sheet.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(e)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Peak Resorts serves as the general partner for two limited partnerships, Carinthia Group 1, LP and Carinthia Group 2, LP (together, the &#x201c;Carinthia Partnerships&#x201d;), which were formed to raise &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$52.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; through the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services (&#x201c;USCIS&#x201d;), pursuant to the Immigration and Nationality Act (the &#x201c;EB-5 Program&#x201d;). The EB-5 Program was created to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. The program allocates immigrant visas to qualified individuals (&#x201c;EB-5 Investors&#x201d;) seeking lawful permanent resident status based on their investment in a U.S commercial enterprise. On December 27, 2016, Peak Resorts borrowed &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$52.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; from the Carinthia Partnerships to fund two capital projects at Mount Snow. The amounts were borrowed through two loan agreements, which provided &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$30.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (together, the &#x201c;EB-5 Development Notes&#x201d;). Amounts outstanding under the EB-5 Development Notes accrue simple interest at a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum until the maturity date, which is December 27, 2021, subject to an extension of up to two additional years at the option of the borrowers, with lender consent. If the maturity date is extended, amounts outstanding under the EB-5 Development Notes will accrue simple interest at a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum during the first year of extension and a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum during the second year of extension. Upon an event of default (as defined), amounts outstanding &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;under the EB-5 Development Notes shall bear interest at the rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum, subject to the extension increases. While the EB-5 Development Notes are outstanding, Peak Resorts is restricted from taking certain actions without the consent of the lenders, including, but not limited to, transferring or disposing of the properties or assets financed with loan proceeds. In addition, Peak Resorts is prohibited from prepaying outstanding amounts owed if such prepayment would jeopardize any of the EB-5 Investors from being admitted to the U.S. via the EB-5 Program.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(f)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has recorded the outstanding debt of four Employee Housing Entities (each an &#x201c;Employee Housing Entity&#x201d; and collectively the &#x201c;Employee Housing Entities&#x201d;): Breckenridge Terrace, Tarnes, BC Housing and Tenderfoot. The proceeds of the Employee Housing Bonds were used to develop apartment complexes designated primarily for use by the Company&#x2019;s seasonal employees at its Colorado mountain resorts. The Employee Housing Bonds are variable rate, interest-only instruments with interest rates tied to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;LIBOR plus 0% to 0.1%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.17%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.27%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;text-indent:0px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest on the Employee Housing Bonds is paid monthly in arrears and the interest rate is adjusted weekly. No principal payments are due on the Employee Housing Bonds until maturity. Each Employee Housing Entity&#x2019;s bonds were issued in two series. The bonds for each Employee Housing Entity are backed by letters of credit issued under the Vail Holdings Credit Agreement. The table below presents the principal amounts outstanding for the Employee Housing Bonds as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands):&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.484375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="11"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Maturity&#160;(a)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tranche&#160;A&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tranche&#160;B&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Breckenridge Terrace&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2039&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tarnes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2039&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;BC Housing&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2027&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,100&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,600&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tenderfoot&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2035&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,700&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,885&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11,585&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;37,780&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,795&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(g)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;May 24, 2013&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, VR CPC Holdings, Inc. (&#x201c;VR CPC&#x201d;), a wholly-owned subsidiary of the Company, entered into a transaction agreement with affiliate companies of Talisker Corporation (&#x201c;Talisker&#x201d;) pursuant to which the parties entered into a master lease agreement (the &#x201c;Lease&#x201d;) and certain ancillary transaction documents on May 29, 2013 related to the former stand-alone Canyons Resort (&#x201c;Canyons&#x201d;), pursuant to which the Company assumed the resort operations of the Canyons. The Lease between VR CPC and Talisker has an initial term of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50 years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; with &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;six 50-year renewal options&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Lease provides for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in annual payments, which increase each year by an &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;inflation-linked index of CPI less 1% per annum, with a floor of 2%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Vail Resorts has guaranteed the payments under the Lease. The obligation at &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; represents future lease payments for the remaining initial lease term of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50 years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (including annual increases at the floor of 2%) discounted using an interest rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and includes accumulated accreted interest expense of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$40.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(h)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the year ended July 31, 2019, the Company completed two real estate sales transactions that were accounted for as financing arrangements as a result of the Company&#x2019;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. The Company received approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$11.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;of proceeds for these sales transactions during the year ended July 31, 2019, which are reflected within long-term debt, net. Other obligations also consist of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; note outstanding to the Colorado Water Conservation Board, which matures on &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;September 16, 2028&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and other financing arrangements. Other obligations, including the Colorado Water Conservation Board note, bear interest at rates ranging from &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.1%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.5%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(i)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In connection with the acquisition of Peak Resorts, the Company estimated the acquisition date fair values of the debt instruments assumed, including the EPR Secured Notes and the EB-5 Development Notes, and recorded any difference between such estimated fair values and the par value of debt instruments as unamortized premiums and discounts, which is amortized and recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. Additionally, certain costs incurred with regard to the issuance of debt instruments are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(j)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current maturities represent principal payments due in the next &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;12 months&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and exclude approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#x2019;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Aggregate maturities for debt outstanding, including capital lease obligations, as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; reflected by fiscal year are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021 &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;69,827&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;115,195&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,740&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,796&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2025&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,612,120&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;519,570&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,444,248&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (1) Includes approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#x2019;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company recorded interest expense of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$106.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$79.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$63.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, of which &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, was amortization of deferred financing costs. The Company was in compliance with all of its financial and operating covenants required to be maintained under its debt instruments for all periods presented.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In connection with the acquisition of Whistler Blackcomb, VHI funded a portion of the purchase price through an intercompany loan to Whistler Blackcomb of&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$210.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which was effective as of November 1, 2016 and&#160;requires foreign currency remeasurement to Canadian dollars, the functional currency for Whistler Blackcomb. As a result, foreign currency fluctuations associated with the loan are recorded within the Company&#x2019;s results of operations. The Company recognized approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of non-cash foreign currency loss on the intercompany loan to Whistler Blackcomb during the years ended July 31, 2020, 2019 and 2018, respectively, on the Company&#x2019;s Consolidated Statements of Operations.&lt;/span&gt;&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
    <us-gaap:ScheduleOfDebtInstrumentsTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-70D3D8257277E15ABCD75D5D91DED6A9-0-wk-Fact-EB9A78B9E77DCF83D7575D5D91223DEF">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Long-term debt as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is summarized as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Maturity&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July&#160;31, &lt;br/&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July&#160;31, &lt;br/&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Holdings Credit Agreement revolver &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(a)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;208,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vail Holdings Credit Agreement term loan &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(a)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,203,125&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;914,375&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.25% Notes&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;&#160;(b)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2025&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;600,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Whistler Credit Agreement revolver &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(c)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2024&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;58,236&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;45,454&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EPR Secured Notes &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(d)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2034-2036&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;114,162&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;EB-5 Development Notes &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(e)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;51,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Employee housing bonds &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(f)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2027-2039&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Canyons obligation &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(g)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2063&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;346,034&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,261&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;&#160;(h)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2020-2033&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,616&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,465&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,444,248&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,580,130&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: Unamortized premiums, discounts and debt issuance costs &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(i)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(6,551&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,870&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Less: Current maturities &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(j)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,677&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;48,516&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Long-term debt, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,387,122&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,527,744&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(a)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On September 23, 2019, in order to fund the acquisition of Peak Resorts, Inc. (&#x201c;Peak Resorts&#x201d;), which included the prepayment of certain portions of the outstanding debt and lease obligations of Peak Resorts contemporaneous with the closing of the transaction (see Note 7, Acquisitions), the Company&#x2019;s wholly-owned subsidiary, Vail Holdings, Inc. (&#x201c;VHI&#x201d;), entered into the Second Amendment to the Eighth Amended and Restated Credit Agreement (the &#x201c;Vail Holdings Credit Agreement&#x201d;), with Bank of America, N.A., as administrative agent, and other lenders named therein, through which those lenders agreed to provide an additional &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$335.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in incremental term loans and agreed, on behalf of all lenders, to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to September 23, 2024. No other material terms of the Vail Holdings Credit Agreement were altered under the amendment. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On April 28, 2020, VHI, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into a Third Amendment to the Vail Holdings Credit Agreement (the&#160;&#x201c;Third Amendment&#x201d;). Pursuant to the Third Amendment, among other terms, VHI is exempt from complying with the Vail Holdings Credit Agreement&#x2019;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless VHI makes a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#x201c;Financial Covenants Temporary Waiver Period&#x201d;), after which VHI will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by VHI). After the expiration of the Financial Covenants Temporary Waiver Period:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter as follows:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(A) first full fiscal quarter: 6.25 to 1.00;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(B) second full fiscal quarter: 5.75 to 1.00;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(C) third full fiscal quarter: 5.25 to 1.00; and&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In addition, VHI is required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under the Vail Holdings Credit Agreement revolver) of not less than &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$150.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, during the period that began on July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#x2019; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company is prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the Lenders):&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$38.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in any fiscal quarter;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making capital expenditures in excess of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$200.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$300.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;making investments in non-subsidiaries in excess of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$50.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in the aggregate; and&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:54px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.25 billion&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Credit Agreement). &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Vail Holdings Credit Agreement consists of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$500.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; revolving credit facility and a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.2 billion&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; outstanding term loan facility. The term loan facility is subject to quarterly amortization of principal of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$15.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (which began in January&#160;2020), in equal installments, for a total of 5% of principal payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due in September 2024. The proceeds of the loans made under the Vail Holdings Credit Agreement may be used to fund the Company&#x2019;s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit, subject to the Financial Covenants Temporary Waiver Period limitations, as discussed above. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.66%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of July 31, 2020 for $400.0 million of borrowings, and for amounts in excess of $400.0 million in which LIBOR is subject to a floor of 0.75% during the Financial Covenants Temporary Waiver Period, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.25%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). Other than as impacted by the provisions in place during the Financial Covenants Temporary Waiver Period, interest rate margins may fluctuate based upon the ratio of the Company&#x2019;s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. The Vail Holdings Credit Agreement also includes a quarterly unused commitment fee, which is equal to a percentage determined by the Net Funded Debt to Adjusted EBITDA ratio, as each such term is defined in the Vail Holdings Credit Agreement, multiplied by the daily amount by which the Vail Holdings Credit Agreement commitment exceeds the total of outstanding loans and outstanding letters of credit (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.4%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). During the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company entered into various interest rate swap agreements to hedge the LIBOR-based variable interest rate component of underlying cash flows of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$400.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in principal amount of its Vail Holdings Credit Agreement for the remaining term of the agreement at an effective rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.46%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(b)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On May 4, 2020, the Company completed its offering of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$600 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; aggregate principal amount of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6.25%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; senior notes due 2025 at par (the &#x201c;Notes&#x201d;), and a portion of the net proceeds were utilized to pay down the outstanding balance of the revolver component of its Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining net proceeds intended to be used for general corporate purposes.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#x201c;Indenture&#x201d;) plus accrued and unpaid interest. Prior to May 15, 2022, the Company may redeem some or all of the Notes at a redemption price of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;100%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the principal amount, plus accrued and unpaid interest, plus a &#x201c;make-whole&#x201d; premium as specified in the Indenture.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt; In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. &lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Notes are senior unsecured obligations of the Company, are guaranteed by certain of the Company&#x2019;s domestic subsidiaries, and rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#x2019;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(c)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Whistler Mountain Resort Limited Partnership (&#x201c;Whistler LP&#x201d;) and Blackcomb Skiing Enterprises Limited Partnership (&#x201c;Blackcomb LP&#x201d;), together &#x201c;The WB Partnerships,&#x201d; are party to a credit agreement, dated as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;November 12, 2013&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (as amended, the &#x201c;Whistler Credit Agreement&#x201d;), by and among Whistler LP, Blackcomb LP, certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the &#x201c;Whistler Subsidiary Guarantors&#x201d;), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;C$300.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; revolving credit facility, and during the year ended July 31, 2020, the Company entered into an amendment of the Whistler Credit Agreement which extended the maturity date of the revolving credit facility to&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;December&#160;15, 2024&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. No other material terms of the Whistler Credit Agreement were altered. The WB Partnerships&#x2019; obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to&#160;C$75.0 million, subject to lender approval.&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#x2019; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#x2019; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#x2019; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&#160;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, all borrowings under the Whistler Credit Agreement were made in Canadian dollars and by way of the issuance of bankers&#x2019; acceptances plus &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2.25%&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.79%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; is equal to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.5063%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum.&#160; The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships&#x2019; ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(d)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On September 24, 2019, in conjunction with the acquisition of Peak Resorts (see Note 7, Acquisitions), the Company assumed various secured borrowings (the &#x201c;EPR Secured Notes&#x201d;) under the master credit and security agreements and other related agreements, as amended, (collectively, the &#x201c;EPR Agreements&#x201d;) with EPT Ski Properties, Inc. and its affiliates (&#x201c;EPR&#x201d;). The EPR Secured Notes include the following:&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;i.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Alpine Valley Secured Note. &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Alpine Valley Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11.21%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;ii.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Boston Mills/Brandywine Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$23.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Boston Mills/Brandywine Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;iii.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Jack Frost/Big Boulder Secured Note. &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$14.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Jack Frost/Big Boulder Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;iv.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Mount Snow Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$51.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Mount Snow Secured Note provides for interest payments through its maturity on December 1, 2034. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11.78%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:88px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:64px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;v.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;The Hunter Mountain Secured Note.&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; The &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$21.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Hunter Mountain Secured Note provides for interest payments through its maturity on January 5, 2036. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, interest on this note accrued at a rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8.57%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The EPR Secured Notes are secured by all or substantially all of the assets of Peak Resorts and its subsidiaries, including mortgages on the Alpine Valley, Boston Mills, Brandywine, Jack Frost, Big Boulder, Mount Snow and Hunter Mountain ski resorts. The EPR Secured Notes bear interest at specified interest rates, as discussed above, which are subject to increase each year by the lesser of (i) three times the percentage increase in the Consumer Price Index or (ii) a capped index (the &#x201c;Capped CPI Index&#x201d;), which is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.75%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for the Hunter Mountain Secured Note and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.50%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for all other notes. The EPR Agreements provide for affirmative and negative covenants that restrict, among other things, the ability of Peak Resorts and its subsidiaries to incur indebtedness, dispose of assets, make distributions and make investments. In addition, the EPR Agreements include restrictive covenants, including maximum leverage ratio and consolidated fixed charge ratio. An additional contingent interest payment would be due to EPR if, on a calendar year basis, the gross receipts from the properties securing any of the individual EPR Secured Notes (the &#x201c;Gross Receipts&#x201d;) are more than the result (the &#x201c;Interest Quotient&#x201d;) of dividing the total interest charges for the EPR Secured Notes by a specified percentage rate (the &#x201c;Additional Interest Rate&#x201d;). In such a case, the additional interest payment would equal the difference between the Gross Receipts and the Interest Quotient multiplied by the Additional Interest Rate. This calculation is made on an aggregated basis for the notes secured by the Jack Frost, Big Boulder, Boston Mills, Brandywine and Alpine Valley ski resorts, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;; on a standalone basis for the note secured by the Company&#x2019;s Mount Snow ski resort, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;; and on a standalone basis for the note secured by the Company&#x2019;s Hunter Mountain ski resort, where the Additional Interest Rate is &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Peak Resorts does not have the right to prepay the EPR Secured Notes. The EPR Secured Notes were recorded at their estimated fair value in conjunction with the acquisition of Peak Resorts on September 24, 2019. The EPR Agreements grant EPR certain other rights including (i) the option to purchase the Boston Mills, Brandywine, Jack Frost, Big Boulder or Alpine Valley resorts, which is exercisable no sooner than two years and no later than one year prior to the maturity dates of the applicable EPR Secured Note for such properties, with any closings to be held on the applicable maturity dates; and, if EPR exercises the purchase option, EPR will enter into an agreement with the Company for the lease of each acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each; (ii) a right of first refusal through 2021, subject to certain conditions, to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by Peak Resorts with respect to any new or existing ski resort properties; and (iii) a right of first refusal through 2021 to purchase the Company&#x2019;s Attitash ski resort in the event the Company were to desire to sell the Attitash ski resort. To date, EPR has not exercised any such purchase options. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In addition, Peak Resorts is required to maintain a debt service reserve account which amounts are applied to fund interest payments and other amounts due and payable to EPR. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; the Company had funded the EPR debt service reserve account in an amount equal to approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which was included in other current assets in the Company&#x2019;s Consolidated Balance Sheet.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(e)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Peak Resorts serves as the general partner for two limited partnerships, Carinthia Group 1, LP and Carinthia Group 2, LP (together, the &#x201c;Carinthia Partnerships&#x201d;), which were formed to raise &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$52.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; through the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services (&#x201c;USCIS&#x201d;), pursuant to the Immigration and Nationality Act (the &#x201c;EB-5 Program&#x201d;). The EB-5 Program was created to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. The program allocates immigrant visas to qualified individuals (&#x201c;EB-5 Investors&#x201d;) seeking lawful permanent resident status based on their investment in a U.S commercial enterprise. On December 27, 2016, Peak Resorts borrowed &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$52.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; from the Carinthia Partnerships to fund two capital projects at Mount Snow. The amounts were borrowed through two loan agreements, which provided &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$30.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (together, the &#x201c;EB-5 Development Notes&#x201d;). Amounts outstanding under the EB-5 Development Notes accrue simple interest at a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum until the maturity date, which is December 27, 2021, subject to an extension of up to two additional years at the option of the borrowers, with lender consent. If the maturity date is extended, amounts outstanding under the EB-5 Development Notes will accrue simple interest at a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum during the first year of extension and a fixed rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum during the second year of extension. Upon an event of default (as defined), amounts outstanding &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;under the EB-5 Development Notes shall bear interest at the rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.0%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per annum, subject to the extension increases. While the EB-5 Development Notes are outstanding, Peak Resorts is restricted from taking certain actions without the consent of the lenders, including, but not limited to, transferring or disposing of the properties or assets financed with loan proceeds. In addition, Peak Resorts is prohibited from prepaying outstanding amounts owed if such prepayment would jeopardize any of the EB-5 Investors from being admitted to the U.S. via the EB-5 Program.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(f)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has recorded the outstanding debt of four Employee Housing Entities (each an &#x201c;Employee Housing Entity&#x201d; and collectively the &#x201c;Employee Housing Entities&#x201d;): Breckenridge Terrace, Tarnes, BC Housing and Tenderfoot. The proceeds of the Employee Housing Bonds were used to develop apartment complexes designated primarily for use by the Company&#x2019;s seasonal employees at its Colorado mountain resorts. The Employee Housing Bonds are variable rate, interest-only instruments with interest rates tied to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;LIBOR plus 0% to 0.1%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.17%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.27%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;text-indent:0px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest on the Employee Housing Bonds is paid monthly in arrears and the interest rate is adjusted weekly. No principal payments are due on the Employee Housing Bonds until maturity. Each Employee Housing Entity&#x2019;s bonds were issued in two series. The bonds for each Employee Housing Entity are backed by letters of credit issued under the Vail Holdings Credit Agreement. The table below presents the principal amounts outstanding for the Employee Housing Bonds as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands):&#160;&#160;&#160;&#160;&lt;/span&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.484375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="11"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Maturity&#160;(a)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tranche&#160;A&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tranche&#160;B&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Breckenridge Terrace&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2039&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tarnes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2039&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,410&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;BC Housing&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2027&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,100&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,600&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Tenderfoot&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2035&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,700&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,885&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11,585&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;37,780&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,795&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;52,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(g)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;May 24, 2013&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, VR CPC Holdings, Inc. (&#x201c;VR CPC&#x201d;), a wholly-owned subsidiary of the Company, entered into a transaction agreement with affiliate companies of Talisker Corporation (&#x201c;Talisker&#x201d;) pursuant to which the parties entered into a master lease agreement (the &#x201c;Lease&#x201d;) and certain ancillary transaction documents on May 29, 2013 related to the former stand-alone Canyons Resort (&#x201c;Canyons&#x201d;), pursuant to which the Company assumed the resort operations of the Canyons. The Lease between VR CPC and Talisker has an initial term of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50 years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; with &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;six 50-year renewal options&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Lease provides for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; in annual payments, which increase each year by an &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;inflation-linked index of CPI less 1% per annum, with a floor of 2%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Vail Resorts has guaranteed the payments under the Lease. The obligation at &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; represents future lease payments for the remaining initial lease term of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50 years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (including annual increases at the floor of 2%) discounted using an interest rate of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and includes accumulated accreted interest expense of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$40.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(h)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the year ended July 31, 2019, the Company completed two real estate sales transactions that were accounted for as financing arrangements as a result of the Company&#x2019;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. The Company received approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$11.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;of proceeds for these sales transactions during the year ended July 31, 2019, which are reflected within long-term debt, net. Other obligations also consist of a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; note outstanding to the Colorado Water Conservation Board, which matures on &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;September 16, 2028&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and other financing arrangements. Other obligations, including the Colorado Water Conservation Board note, bear interest at rates ranging from &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.1%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.5%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(i)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In connection with the acquisition of Peak Resorts, the Company estimated the acquisition date fair values of the debt instruments assumed, including the EPR Secured Notes and the EB-5 Development Notes, and recorded any difference between such estimated fair values and the par value of debt instruments as unamortized premiums and discounts, which is amortized and recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. Additionally, certain costs incurred with regard to the issuance of debt instruments are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#x2019;s Consolidated Statements of Operations over the respective term of the applicable debt instruments&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"&gt;&lt;span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;"&gt;(j)&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current maturities represent principal payments due in the next &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;12 months&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and exclude approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#x2019;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember"
      id="d5437697e769-wk-Fact-A5ABFE68DC4FA6E88BA55D5D90CDE71C">2024</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember"
      decimals="-3"
      id="d5437697e779-wk-Fact-A19A6C9E03CFFC3B72125D5D9126575D"
      unitRef="usd">0</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember"
      decimals="-3"
      id="d5437697e793-wk-Fact-D76818BA53E071AE60F05D5D90CA273A"
      unitRef="usd">208000000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      id="d5437697e810-wk-Fact-BF60A5CB4204F16C8C0F5D5D9123F022">2024</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-3"
      id="d5437697e815-wk-Fact-673CA3FB534FEC26EE625D5D912493A8"
      unitRef="usd">1203125000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-3"
      id="d5437697e829-wk-Fact-49174299D41CA933EE425D5D912A7E9B"
      unitRef="usd">914375000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      id="d5437697e851-wk-Fact-AD93765EFEA1C5EC8CE09423F7DE94B9">2025</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      decimals="-3"
      id="d5437697e856-wk-Fact-7B2B3EA21A303F6ABB649421FE9945EC"
      unitRef="usd">600000000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      decimals="-3"
      id="d5437697e870-wk-Fact-DE2C7F2C76761AB21A2A94234E923E0A"
      unitRef="usd">0</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      id="d5437697e892-wk-Fact-BD92107F480B6947ACD15D5D912678D0">2024</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      decimals="-3"
      id="d5437697e897-wk-Fact-9A1EB3C2D81C8BCF0D225D5D90CD9AEE"
      unitRef="usd">58236000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      decimals="-3"
      id="d5437697e911-wk-Fact-6177757655F27064E5045D5D9125680D"
      unitRef="usd">45454000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember"
      decimals="-3"
      id="d5437697e938-wk-Fact-6E6A4C5DB461E7FB02A994252988A75D"
      unitRef="usd">114162000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember"
      decimals="-3"
      id="d5437697e952-wk-Fact-950DB0604F9980E3C45C94263B79D432"
      unitRef="usd">0</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EB5DevelopmentNotesMember"
      id="d5437697e974-wk-Fact-52FB76942CED8E93B7ED9428549273BA">2021</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-3"
      id="d5437697e979-wk-Fact-2C7685F879983A12B4A29427097E24C8"
      unitRef="usd">51500000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-3"
      id="d5437697e993-wk-Fact-603F02F8E4075F1909F99427EE5DA150"
      unitRef="usd">0</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1020-wk-Fact-A0EFE6B59E8F9DCCBE4C5D5D912704AE"
      unitRef="usd">52575000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1034-wk-Fact-1ADD38B957298D50EE185D5D90CAF647"
      unitRef="usd">52575000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember"
      id="d5437697e1056-wk-Fact-D8AC1FEA712DA570124A5D5D9124A23E">2063</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember"
      decimals="-3"
      id="d5437697e1061-wk-Fact-B0A0F88BEAA5960CBC8B5D5D90CBBD9A"
      unitRef="usd">346034000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_CanyonsObligationMember"
      decimals="-3"
      id="d5437697e1075-wk-Fact-96C7E3D59E48EBAA123C5D5D912A579B"
      unitRef="usd">340261000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      decimals="-3"
      id="d5437697e1102-wk-Fact-2F166DE6FEBB8809BF845D5D90CC8072"
      unitRef="usd">18616000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      decimals="-3"
      id="d5437697e1116-wk-Fact-DEC4C22CE343A0B45B175D5D91288553"
      unitRef="usd">19465000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e1140-wk-Fact-501739AF09CD680C9A795D5D9126F51D"
      unitRef="usd">2444248000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5437697e1154-wk-Fact-274E667DD3850F2320BA5D5D91285CBE"
      unitRef="usd">1580130000</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e1182-wk-Fact-ED06276083B8BBF23CA65D5D90CED13D"
      unitRef="usd">-6551000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
    <us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5437697e1197-wk-Fact-D1DAE53D8AE4B92C79BB5D5D90CC6C1F"
      unitRef="usd">3870000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet>
    <us-gaap:LongTermDebtCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e1224-wk-Fact-3455D2DDD8126CBF2EEB5D5D9129A972"
      unitRef="usd">63677000</us-gaap:LongTermDebtCurrent>
    <us-gaap:LongTermDebtCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5437697e1238-wk-Fact-8A01DCE8780CD577E4C05D5D9127B045"
      unitRef="usd">48516000</us-gaap:LongTermDebtCurrent>
    <us-gaap:LongTermDebtNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e1267-wk-Fact-77DD2D0B927B71C844B45D5D912A9B92"
      unitRef="usd">2387122000</us-gaap:LongTermDebtNoncurrent>
    <us-gaap:LongTermDebtNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5437697e1281-wk-Fact-7A65312F975DBA89C7B15D5D91299479"
      unitRef="usd">1527744000</us-gaap:LongTermDebtNoncurrent>
    <us-gaap:LineOfCreditFacilityIncreaseDecreaseForPeriodNet
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-5"
      id="d5437697e1329-wk-Fact-D8C4FFDCC27575A516A994296E0118D7"
      unitRef="usd">335600000</us-gaap:LineOfCreditFacilityIncreaseDecreaseForPeriodNet>
    <mtn:VHICreditAgreementWaiverPeriodMinimumLiquidity
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1370-wk-Fact-D79B73B4798CE2C6B634942CFBD11170"
      unitRef="usd">150000000.0</mtn:VHICreditAgreementWaiverPeriodMinimumLiquidity>
    <mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1384-wk-Fact-EC09B5E6B807E98AD4FA942EDF6936FF"
      unitRef="usd">400000000.0</mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution>
    <mtn:VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1388-wk-Fact-EA2068182F0B773826229430638A0FD9"
      unitRef="usd">38200000</mtn:VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit>
    <mtn:VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1399-wk-Fact-70A0C5174575E729B9C494AC61BCE6E8"
      unitRef="usd">200000000.0</mtn:VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit>
    <mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1417-wk-Fact-7201E36D3C5E1B8B1B6094AE726D565F"
      unitRef="usd">300000000.0</mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries>
    <mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1428-wk-Fact-2C1D64B3BB659AB688B694B07841A560"
      unitRef="usd">50000000.0</mtn:VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries>
    <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-7"
      id="d5437697e1442-wk-Fact-0EF0BB42994E7C7D375AA2DCB9F0F01D"
      unitRef="usd">2250000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
    <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_us-gaap_LineOfCreditMember"
      decimals="-5"
      id="d5437697e1454-wk-Fact-5558900C7446019F658894B33ADEEA14"
      unitRef="usd">500000000.0</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
    <us-gaap:LineOfCredit
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-8"
      id="d5437697e1458-wk-Fact-CCE9E81C60CC04BA8CDC94B4FED84D72"
      unitRef="usd">1200000000</us-gaap:LineOfCredit>
    <us-gaap:DebtInstrumentPeriodicPayment
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanMember"
      decimals="-5"
      id="d5437697e1462-wk-Fact-87D5CB56069AD13AC58294B6D44332CB"
      unitRef="usd">15600000</us-gaap:DebtInstrumentPeriodicPayment>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanHedgedPortionMember"
      decimals="INF"
      id="d5437697e1471-wk-Fact-BB2B9915766C2A685F9594B872A8A08E"
      unitRef="number">0.0266</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_TermLoanUnhedgedPortionMember"
      decimals="INF"
      id="d5437697e1475-wk-Fact-750F0E6713D775F5CC3794BBF3C89A29"
      unitRef="number">0.0325</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:DebtInstrumentUnusedBorrowingCapacityFee
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5437697e1483-wk-Fact-271163D5B5FD5CAC622EA2DDD6C66F4F"
      unitRef="usd">0.004</us-gaap:DebtInstrumentUnusedBorrowingCapacityFee>
    <mtn:InterestRateSwapNotionalAmount
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e1496-wk-Fact-DADF5702D68203E3EAD58AE1DBA6D46B"
      unitRef="usd">400000000.0</mtn:InterestRateSwapNotionalAmount>
    <us-gaap:DerivativeFixedInterestRate
      contextRef="FI2020Q4"
      decimals="INF"
      id="d5437697e1500-wk-Fact-F9A2B8993EAAAF84DCA494BD47F6EE4B"
      unitRef="number">0.0146</us-gaap:DerivativeFixedInterestRate>
    <us-gaap:ProceedsFromUnsecuredNotesPayable
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      decimals="-3"
      id="d5437697e1518-wk-Fact-4F669827E9E67D16C17B94C1638A92A8"
      unitRef="usd">600000000</us-gaap:ProceedsFromUnsecuredNotesPayable>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      decimals="INF"
      id="d5437697e1522-wk-Fact-46BC5846C7660EA0AEE294C221EAEA84"
      unitRef="number">0.0625</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:DebtInstrumentRedemptionDescription
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_A6.25NotesMember"
      id="d5437697e1536-wk-Fact-FF7343E7C517DD14903DA2E021E7C4A4"> In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. </us-gaap:DebtInstrumentRedemptionDescription>
    <us-gaap:LineOfCreditFacilityInitiationDate1
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      id="d5437697e1559-wk-Fact-E4AD1EBC23D6029344859A6F1911EAAC">2013-11-12</us-gaap:LineOfCreditFacilityInitiationDate1>
    <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      decimals="-5"
      id="d5437697e1563-wk-Fact-9958434C89B405BBE7C894C72A000953"
      unitRef="cad">300000000.0</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
    <us-gaap:LongTermDebtDescription
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      id="d5437697e1571-wk-Fact-1E6B55AE98B18F0F90E4A2E5DF802B23">Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#x2019; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#x2019; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#x2019; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum</us-gaap:LongTermDebtDescription>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      decimals="INF"
      id="d5437697e1584-wk-Fact-94E64ACA886BD040B4E194C8C9B1B631"
      unitRef="number">0.0279</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_WhistlerCreditAgreementrevolverMember"
      decimals="INF"
      id="d5437697e1596-wk-Fact-2E45F0B909DD5BBE0DEB94CAC9D60F0E"
      unitRef="number">0.005063</us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember"
      decimals="-5"
      id="d5437697e1622-wk-Fact-76A21CADB9E08A39CD8994CC669FBA6B"
      unitRef="usd">4600000</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_AlpineValleySecuredNoteMember"
      decimals="INF"
      id="d5437697e1630-wk-Fact-A0050826B69AFD90FD2694D2B2A6C363"
      unitRef="number">0.1121</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember"
      decimals="-5"
      id="d5437697e1643-wk-Fact-915E9184F6D704F1CA6794CCD869EB99"
      unitRef="usd">23300000</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_BostonMillsBrandywineSecuredNoteMember"
      decimals="INF"
      id="d5437697e1651-wk-Fact-5E7321B90E426351CB7294CE1BADD9F3"
      unitRef="number">0.1075</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember"
      decimals="-5"
      id="d5437697e1664-wk-Fact-F18B4CDDFB907717801894CD3470B3E8"
      unitRef="usd">14300000</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_JackFrostBigBoulderSecuredNoteMember"
      decimals="INF"
      id="d5437697e1672-wk-Fact-CD8F55BDC96D14A0DBE094CE7E9C5C69"
      unitRef="number">0.1075</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember"
      decimals="-5"
      id="d5437697e1686-wk-Fact-3871E708DF1815E6E76E94CD50D0EA48"
      unitRef="usd">51100000</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_MountSnowSecuredNoteMember"
      decimals="INF"
      id="d5437697e1694-wk-Fact-B864A9C577DF9A2042C794CF1AD065E5"
      unitRef="number">0.1178</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember"
      decimals="-5"
      id="d5437697e1707-wk-Fact-C6D4CF6FAAA6BD8D747294CD6DE5C0B6"
      unitRef="usd">21000000.0</us-gaap:LongTermDebt>
    <us-gaap:DebtInstrumentInterestRateStatedPercentage
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember"
      decimals="INF"
      id="d5437697e1715-wk-Fact-E96490C6181C756BA46E94CF3FC4BFE1"
      unitRef="number">0.0857</us-gaap:DebtInstrumentInterestRateStatedPercentage>
    <mtn:AnnualInterestRateIncreaseCap
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_HunterMountainSecuredNoteMember"
      decimals="INF"
      id="d5437697e1722-wk-Fact-959F7A790178B732EAE494D87A2CC7C7"
      unitRef="number">0.0175</mtn:AnnualInterestRateIncreaseCap>
    <mtn:AnnualInterestRateIncreaseCap
      contextRef="FD2020Q4YTD_us-gaap_LongtermDebtTypeAxis_mtn_EPRSecuredNotesMember"
      decimals="INF"
      id="d5437697e1726-wk-Fact-5BE433B493322B9C243C94D945514350"
      unitRef="number">0.0150</mtn:AnnualInterestRateIncreaseCap>
    <mtn:EPRAdditionalInterestRate
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember"
      decimals="2"
      id="d5437697e1730-wk-Fact-AA23979C67E1EB23691594DB325A11CF"
      unitRef="number">0.100</mtn:EPRAdditionalInterestRate>
    <mtn:EPRAdditionalInterestRate
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_MountSnowSecuredNoteMember"
      decimals="2"
      id="d5437697e1734-wk-Fact-79CE603E3DB05F7DD8ED94DC5CC14375"
      unitRef="number">0.120</mtn:EPRAdditionalInterestRate>
    <mtn:EPRAdditionalInterestRate
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_HunterMountainSecuredNoteMember"
      decimals="2"
      id="d5437697e1738-wk-Fact-6C6629EFC07D9198836C94DD590C08AA"
      unitRef="number">0.080</mtn:EPRAdditionalInterestRate>
    <mtn:DebtServiceReserve
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_EPRSecuredNotesMember"
      decimals="-5"
      id="d5437697e1749-wk-Fact-3E1EE74912AFA722797594DF38584712"
      unitRef="usd">5700000</mtn:DebtServiceReserve>
    <us-gaap:DebtInstrumentFaceAmount
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-5"
      id="d5437697e1760-wk-Fact-F467289AB2171BA5FBCD94E18354CE01"
      unitRef="usd">52000000.0</us-gaap:DebtInstrumentFaceAmount>
    <us-gaap:DebtInstrumentFaceAmount
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="-5"
      id="d5437697e1764-wk-Fact-F467289AB2171BA5FBCD94E18354CE01"
      unitRef="usd">52000000.0</us-gaap:DebtInstrumentFaceAmount>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes1Member"
      decimals="-5"
      id="d5437697e1768-wk-Fact-B83F31F00068787D32E594E4670E76A1"
      unitRef="usd">30000000.0</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotes2Member"
      decimals="-5"
      id="d5437697e1772-wk-Fact-51B9E1D424EB75B583F194E60C41E5D7"
      unitRef="usd">22000000.0</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember"
      decimals="INF"
      id="d5437697e1776-wk-Fact-44BA2A622FBC2F88789A94E660378E04"
      unitRef="number">0.010</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear1Member"
      decimals="INF"
      id="d5437697e1781-wk-Fact-1A7BEA0B81C3184AEDC794E7B482C7D4"
      unitRef="number">0.070</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_ExtensionYear2Member"
      decimals="INF"
      id="d5437697e1785-wk-Fact-B166101B043D8DDC8ED394E96F58146C"
      unitRef="number">0.100</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EB5DevelopmentNotesMember_us-gaap_VariableRateAxis_mtn_EventofDefaultMember"
      decimals="INF"
      id="d5437697e1796-wk-Fact-40A54792454CF1A754E494EC33F12916"
      unitRef="number">0.050</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:DebtInstrumentDescriptionOfVariableRateBasis
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="d5437697e1811-wk-Fact-50504E8D319E0730B59C5D5D91248D85">LIBOR plus 0% to 0.1%</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="INF"
      id="d5437697e1815-wk-Fact-E6060DC421BD841DFDED5D5D91146E47"
      unitRef="number">0.0017</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod
      contextRef="FD2020Q4YTD_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="INF"
      id="d5437697e1819-wk-Fact-D0ECD7E56294734E490C5D5D911F26B0"
      unitRef="number">0.0027</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="d5437697e1919-wk-Fact-DA4ADDECAB02E290752D5D5D9184014A">2039</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1929-wk-Fact-DE1D8DB79CFA3CF2D0355D5D91799130"
      unitRef="usd">14980000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1943-wk-Fact-ABD1542CBD221673F8605D5D917A3AD6"
      unitRef="usd">5000000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BreckenridgeTerraceMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1957-wk-Fact-53F360CF0177CB8E63135D5D91811E68"
      unitRef="usd">19980000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="d5437697e1972-wk-Fact-13B8A035FA16A29D384F5D5D91817B32">2039</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1977-wk-Fact-D1772EF926E4B920926C5D5D917CE11C"
      unitRef="usd">8000000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e1991-wk-Fact-AF518C88EFD4DADF182F5D5D917EA90B"
      unitRef="usd">2410000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TarnesMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2005-wk-Fact-3A28A0EC87BBD9339FA95D5D9182087A"
      unitRef="usd">10410000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="d5437697e2025-wk-Fact-AB73FB455A54A519C5D35D5D918370E6">2027</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2030-wk-Fact-89B02937004027E3E3575D5D917C48F6"
      unitRef="usd">9100000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2044-wk-Fact-95CC88EC9DFCB8BA24895D5D917F4F85"
      unitRef="usd">1500000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_BcHousingMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2058-wk-Fact-6BFC8B550B504DF3BDCB5D5D9186CF37"
      unitRef="usd">10600000</us-gaap:LongTermDebt>
    <mtn:DebtInstrumentYearofMaturity
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      id="d5437697e2078-wk-Fact-DC5D13E49BA8F76AC8045D5D9179D752">2035</mtn:DebtInstrumentYearofMaturity>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2083-wk-Fact-EBC18E24C8FC7F96B66B5D5D918773F8"
      unitRef="usd">5700000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2097-wk-Fact-102DDDE856196F423C7E5D5D9185E252"
      unitRef="usd">5885000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_TenderfootMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2111-wk-Fact-2CBC0269A71D1E3C25965D5D917BCCE5"
      unitRef="usd">11585000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheaMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2141-wk-Fact-87AB6CE1225D5007F3D25D5D91786105"
      unitRef="usd">37780000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_mtn_DebtInstrumentByTrancheAxis_mtn_TrancheBMember_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2155-wk-Fact-1D7E76D7531DC1676BCC5D5D917DEF69"
      unitRef="usd">14795000</us-gaap:LongTermDebt>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4_us-gaap_LongtermDebtTypeAxis_mtn_EmployeeHousingBondsMember"
      decimals="-3"
      id="d5437697e2169-wk-Fact-A0EFE6B59E8F9DCCBE4C5D5D912704AE"
      unitRef="usd">52575000</us-gaap:LongTermDebt>
    <us-gaap:BusinessAcquisitionEffectiveDateOfAcquisition1
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="d5437697e2208-wk-Fact-6F1E72DD1E8DA767F6D85D5D91133957">2013-05-24</us-gaap:BusinessAcquisitionEffectiveDateOfAcquisition1>
    <mtn:InitialCapitalLeaseTerm
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="d5437697e2212-wk-Fact-989EE1F42090542EB0545D5D9116FB5A">50 years</mtn:InitialCapitalLeaseTerm>
    <mtn:OptionalLeaseRenewalTerm
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="d5437697e2216-wk-Fact-2C7E702B180E1410B87B5D5D9112A326">six 50-year renewal options</mtn:OptionalLeaseRenewalTerm>
    <mtn:MinimumCapitalLeasePaymentAnnual
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-6"
      id="d5437697e2220-wk-Fact-13D6A1AEA03C451A18F15D5D9123E1B8"
      unitRef="usd">25000000</mtn:MinimumCapitalLeasePaymentAnnual>
    <mtn:AdjustmentsToCapitalLeaseAnnualPayments
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="d5437697e2224-wk-Fact-30EAE84C571CCD0D56255D5D9120BD36">inflation-linked index of CPI less 1% per annum, with a floor of 2%</mtn:AdjustmentsToCapitalLeaseAnnualPayments>
    <mtn:InitialCapitalLeaseTerm
      contextRef="D2013Q4Acquisition_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      id="d5437697e2233-wk-Fact-989EE1F42090542EB0545D5D9116FB5A">50 years</mtn:InitialCapitalLeaseTerm>
    <us-gaap:DebtInstrumentInterestRateEffectivePercentage
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="INF"
      id="d5437697e2237-wk-Fact-7D173403BFFBF95B888A5D5D911ABAED"
      unitRef="number">0.10</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
    <us-gaap:AccretionExpense
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-5"
      id="d5437697e2241-wk-Fact-59316D38DB64837991515D5D9125480E"
      unitRef="usd">40700000</us-gaap:AccretionExpense>
    <us-gaap:SaleLeasebackTransactionNetProceedsFinancingActivities
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2270-wk-Fact-82FC843574CD5E18F3495D5D9112E19C"
      unitRef="usd">11200000</us-gaap:SaleLeasebackTransactionNetProceedsFinancingActivities>
    <us-gaap:DebtInstrumentCarryingAmount
      contextRef="FI2020Q4_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      decimals="-5"
      id="d5437697e2279-wk-Fact-3AB1706B105B1B4269B95D5D9112BAEE"
      unitRef="usd">3600000</us-gaap:DebtInstrumentCarryingAmount>
    <us-gaap:DebtInstrumentMaturityDate
      contextRef="FD2020Q4YTD_us-gaap_DebtInstrumentAxis_mtn_ColoradoWaterConservationBoardNoteOutstandingMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      id="d5437697e2283-wk-Fact-B1D9D32E80690AE218C55D5D9120F5EF">2028-09-16</us-gaap:DebtInstrumentMaturityDate>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MinimumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      decimals="INF"
      id="d5437697e2287-wk-Fact-38903FB5238FD1C241F15D5D911B3A22"
      unitRef="number">0.051</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod
      contextRef="FD2020Q4YTD_srt_RangeAxis_srt_MaximumMember_us-gaap_LongtermDebtTypeAxis_mtn_OtherDebtMember"
      decimals="INF"
      id="d5437697e2291-wk-Fact-EABB4EB30D2BE432380D5D5D91279C2D"
      unitRef="number">0.055</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <us-gaap:ProceedsFromSaleOfOtherRealEstate
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2339-wk-Fact-9B5DA1B6B66B7641C0645D5D91174ED3"
      unitRef="usd">6200000</us-gaap:ProceedsFromSaleOfOtherRealEstate>
    <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-AAD9559F7D790FF4857A5D5D91DEAD49-0-wk-Fact-74E9F74D7A52F94021AA5D5D9128B093">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Aggregate maturities for debt outstanding, including capital lease obligations, as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; reflected by fiscal year are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2021 &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;69,827&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;115,195&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,740&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2024&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,796&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2025&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,612,120&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Thereafter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;519,570&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,444,248&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (1) Includes approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#x2019;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2425-wk-Fact-EC8BBC88B932B8D4B50E5D5D91330591"
      unitRef="usd">69827000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2440-wk-Fact-16BBDF9693CFB1F2235A5D5D9138FCD7"
      unitRef="usd">115195000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2460-wk-Fact-F415B6199781AB4CAE525D5D91370867"
      unitRef="usd">63740000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2480-wk-Fact-0F653D93FC71D087E9FB5D5D913EA7EA"
      unitRef="usd">63796000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2500-wk-Fact-57C949D0BC21C3F523D75D5D9135FB38"
      unitRef="usd">1612120000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2520-wk-Fact-3B0879C4D46FB187C7BA5D5D91442989"
      unitRef="usd">519570000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive>
    <us-gaap:LongTermDebt
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5437697e2545-wk-Fact-501739AF09CD680C9A795D5D9126F51D"
      unitRef="usd">2444248000</us-gaap:LongTermDebt>
    <us-gaap:ProceedsFromSaleOfOtherRealEstate
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2567-wk-Fact-9B5DA1B6B66B7641C0645D5D91174ED3"
      unitRef="usd">6200000</us-gaap:ProceedsFromSaleOfOtherRealEstate>
    <us-gaap:InterestExpenseDebt
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2575-wk-Fact-ECD0A800C242E36F76495D5D9126CFAF"
      unitRef="usd">106700000</us-gaap:InterestExpenseDebt>
    <us-gaap:InterestExpenseDebt
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5437697e2579-wk-Fact-CB007DB821A7413F12B35D5D9111535B"
      unitRef="usd">79500000</us-gaap:InterestExpenseDebt>
    <us-gaap:InterestExpenseDebt
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5437697e2583-wk-Fact-2CCC32F7849B5FAFACB15D5D911CDB5B"
      unitRef="usd">63200000</us-gaap:InterestExpenseDebt>
    <us-gaap:AmortizationOfFinancingCosts
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2600-wk-Fact-7A42C77CA897E958F46B5D5D91264DA0"
      unitRef="usd">1900000</us-gaap:AmortizationOfFinancingCosts>
    <us-gaap:AmortizationOfFinancingCosts
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5437697e2604-wk-Fact-539DD4091FEAFFD4C7775D5D91100232"
      unitRef="usd">1300000</us-gaap:AmortizationOfFinancingCosts>
    <us-gaap:AmortizationOfFinancingCosts
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5437697e2608-wk-Fact-5CEA19734F9B916760115D5D911762D1"
      unitRef="usd">1300000</us-gaap:AmortizationOfFinancingCosts>
    <us-gaap:IntercompanyForeignCurrencyBalanceAmount
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5437697e2615-wk-Fact-91274585CD0E84C481BC5D5D911E27A1"
      unitRef="usd">210000000.0</us-gaap:IntercompanyForeignCurrencyBalanceAmount>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5437697e2619-wk-Fact-D5317757B6903934F7A95D5D91139120"
      unitRef="usd">-3200000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5437697e2623-wk-Fact-CE17298C6317A852046B5D5D913D602D"
      unitRef="usd">-2900000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5437697e2627-wk-Fact-C2F8FD1051999F0FAE045D5D911A73F2"
      unitRef="usd">-9000000.0</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:BusinessCombinationDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-9F7EEDB064840DB8205F5D5D91DF0912-0-wk-Fact-2FB5583139255C86286B5D5D91179030">Acquisitions&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Peak Resorts&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On September 24, 2019, the Company, through a wholly-owned subsidiary, acquired 100% of the outstanding stock of Peak Resorts, Inc. (&#x201c;Peak Resorts&#x201d;) at a purchase price of&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$11.00&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; per share or approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$264.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. In addition, contemporaneous with the closing of the transaction, Peak Resorts was required to pay approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$70.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of certain outstanding debt instruments and lease obligations in order to complete the transaction. Accordingly, the total purchase price, including the repayment of certain outstanding debt instruments and lease obligations, was approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$334.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, for which the Company borrowed approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$335.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; under the Vail Holdings Credit Agreement (see Note 6, Long-Term Debt) to fund the acquisition, repayment of debt instruments and lease obligations, and associated acquisition related expenses. The newly acquired resorts include: Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire; Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana. The Company assumed the Special Use Permits from the U.S. Forest Service for Attitash, Mount Snow and Wildcat Mountain, and assumed the land leases for Mad River and Paoli Peaks. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities), as well as lodging operations at certain resorts.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,578&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;427,793&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,879&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,203&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assumed long-term debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(184,668&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(99,275&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;334,731&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the three months ended July 31, 2020, the Company recorded measurement period adjustments of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; primarily related to the finalization of pre-acquisition period tax returns for Peak Resorts, which decreased deferred income taxes, net (included in other liabilities in the table above) with a corresponding decrease to goodwill, net.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets acquired in the transaction were primarily related to trade names and property management contracts, which had acquisition date estimated fair values of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$15.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. The process of estimating the fair value of the depreciable property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost. The excess of the purchase price over the aggregate estimated fair values of the assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is not expected to be deductible for income tax purposes. The Company assumed various debt obligations of Peak Resorts, which were recorded at their respective estimated fair values as of the acquisition date (see Note 6, Long-Term Debt). The Company incurred &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of acquisition related expenses associated with the transaction which were recorded within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2020. The operating results of Peak Resorts are reported within the Mountain and Lodging segments prospectively from the date of acquisition.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The estimated fair values of assets acquired and liabilities assumed in the acquisition of Peak Resorts are preliminary and are based on the information that was available as of the acquisition date. The Company believes that this information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the Company is obtaining additional information necessary to finalize those estimated fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. The Company expects to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Falls Creek and Hotham Resorts&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On April 4, 2019, the Company, through a wholly-owned subsidiary, acquired ski field leases and related infrastructure used to operate two resorts in Victoria, Australia. The Company acquired Australian Alpine Enterprises Holdings Pty. Ltd and all related corporate entities that operate the Falls Creek and Hotham resorts from Living and Leisure Australia Group, a subsidiary of Merlin Entertainments, for a cash purchase price of approximately AU&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$178.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$127.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;), after adjustments for certain agreed-upon terms, including an increase in the purchase price for operating losses incurred for the period from December 29, 2018 through closing. The acquisition included the mountain operations of both resorts, including base area skier services (ski and snowboard school facilities, retail and rental, reservation and property management operations).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,986&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;54,889&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;71,538&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets and other assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(11,894&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;127,352&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets acquired in the transaction were primarily related to trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Falls Creek and Hotham and other factors. None of the goodwill is expected to be deductible for income tax purposes under Australian tax law. The Company recognized&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;of acquisition related expenses associated with the transaction, including stamp duty expense of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Falls Creek and Hotham are reported within the Mountain segment prospectively from the date of acquisition.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Stevens Pass Resort&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On&#160;August&#160;15, 2018, the Company, through a wholly-owned subsidiary, acquired Stevens Pass Resort in the State of Washington from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate (&#x201c;Ski Resort Holdings&#x201d;), for total cash consideration of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$64.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, after adjustments for certain agreed-upon terms. The Company borrowed&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$70.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;on August 15, 2018 under its Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The acquisition included the mountain operations of the resort, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;752&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,865&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,878&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,680&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income taxes, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;886&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,029&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;64,032&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Stevens Pass and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Stevens Pass are reported within the Mountain segment prospectively from the date of acquisition.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:174%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Triple Peaks&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On&#160;September&#160;27, 2018, the Company, through a wholly-owned subsidiary, acquired Triple Peaks, LLC (&#x201c;Triple Peaks&#x201d;), the parent company of Okemo Mountain Resort in Vermont, Crested Butte Mountain Resort in Colorado, and Mount Sunapee Resort in New Hampshire, for a cash purchase price of approximately&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$74.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, after adjustments for certain agreed-upon terms. In addition, contemporaneous with the closing of the transaction, Triple Peaks paid&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$155.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;to pay the remaining obligations of the leases that all three resorts had with Ski Resort Holdings, with funds provided by the Company. Accordingly, the total purchase price, including the repayment of lease obligations, was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$229.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, for which the Company utilized cash on hand and borrowed &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$195.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; under the Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The Company obtained a new Special Use Permit from the U.S. Forest Service for Crested Butte, and assumed the state land leases for Okemo and Mount Sunapee. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,197&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;159,799&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;51,742&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,360&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income taxes, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,093&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18,098&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;229,093&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets acquired in the transaction were primarily related to property management contracts and trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Triple Peaks are reported within the Mountain and Lodging segments prospectively from the date of acquisition.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Pro Forma Financial Information&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,970,363&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,490,809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma net income attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;100,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma basic net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.49&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.47&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma diluted net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
    <us-gaap:BusinessAcquisitionSharePrice
      contextRef="I2020Q1PeakAcquisition_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="2"
      id="d5436313e684-wk-Fact-F8A8227912ED8B62665D97C13922440D"
      unitRef="usdPerShare">11.00</us-gaap:BusinessAcquisitionSharePrice>
    <mtn:BusinessCombinationCashConsiderationTransferred
      contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e688-wk-Fact-101561B686DD57231B1397C2BF2792B6"
      unitRef="usd">264500000</mtn:BusinessCombinationCashConsiderationTransferred>
    <us-gaap:BusinessCombinationConsiderationTransferredOther1
      contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e692-wk-Fact-1295A7B144A9FA29FA9C97C3C07DEE86"
      unitRef="usd">70200000</us-gaap:BusinessCombinationConsiderationTransferredOther1>
    <us-gaap:BusinessCombinationConsiderationTransferred1
      contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e696-wk-Fact-93C7A5999900992C333497C498127BCE"
      unitRef="usd">334700000</us-gaap:BusinessCombinationConsiderationTransferred1>
    <us-gaap:ProceedsFromRepaymentsOfDebt
      contextRef="D2020Q1PEAK_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e700-wk-Fact-EE02BFE86FDB9BD48E3797C52C387436"
      unitRef="usd">335600000</us-gaap:ProceedsFromRepaymentsOfDebt>
    <us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      id="TextSelection-CF0B2B03E6A363AD7D57B21808387EBC-0-wk-Fact-AF6A593AA84CC252313DB21854A6591C">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,578&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;427,793&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,879&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,203&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assumed long-term debt&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(184,668&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(99,275&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;334,731&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the three months ended July 31, 2020, the Company recorded measurement period adjustments of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; primarily related to the finalization of pre-acquisition period tax returns for Peak Resorts, which decreased deferred income taxes, net (included in other liabilities in the table above) with a corresponding decrease to goodwill, net.&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e754-wk-Fact-46788DDF2BC32F1973FC97C62D7F0569"
      unitRef="usd">19578000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e769-wk-Fact-1CDCAEBC3B6B80AFBABF97C62EB5FCA5"
      unitRef="usd">427793000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e789-wk-Fact-B33A8718EA01E7B978C897C630015DCE"
      unitRef="usd">135879000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e809-wk-Fact-DC3F1D01A03C373C878C97C6314E154B"
      unitRef="usd">19221000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e829-wk-Fact-73E22710F182E969A03297C74BE2885C"
      unitRef="usd">16203000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e849-wk-Fact-63CE40AABB69252E678497C77EE8238D"
      unitRef="usd">184668000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e870-wk-Fact-784C8709D56EB90DABBF97C7B2B11228"
      unitRef="usd">99275000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-3"
      id="d5436313e896-wk-Fact-EB80387CCE80B815E2BB97C7E762CFE3"
      unitRef="usd">334731000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
    <us-gaap:GoodwillPurchaseAccountingAdjustments
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e905-wk-Fact-F2A9DD69896CE4E42066A2EBD697A5FE"
      unitRef="usd">8600000</us-gaap:GoodwillPurchaseAccountingAdjustments>
    <us-gaap:IndefiniteLivedTradeNames
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e913-wk-Fact-21D074ADEAB8304FD9F597CCC4448D88"
      unitRef="usd">15800000</us-gaap:IndefiniteLivedTradeNames>
    <mtn:IndefiniteLivedPropertyManagementContracts
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e917-wk-Fact-696AA46A2CD029FE472B97CE08773C55"
      unitRef="usd">3100000</mtn:IndefiniteLivedPropertyManagementContracts>
    <us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5436313e921-wk-Fact-645620E6301ED6C7D4FE97CEC28BE5F8"
      unitRef="usd">3100000</us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed>
    <us-gaap:BusinessCombinationConsiderationTransferred1
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-5"
      id="d5436313e934-wk-Fact-D320E8DA82DE6EE39C275D5D912A9109"
      unitRef="aud">178900000</us-gaap:BusinessCombinationConsiderationTransferred1>
    <mtn:BusinessCombinationCashConsiderationTransferred
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e938-wk-Fact-BE484001C001498DB5205D5D9123AD02"
      unitRef="usd">127400000</mtn:BusinessCombinationCashConsiderationTransferred>
    <us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      id="TextSelection-5B866197FCCCD6ADF12A5D5D91DE2787-0-wk-Fact-FF1BA57B495FFC6323445D5D911D54DB">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,986&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;54,889&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;71,538&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets and other assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(11,894&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;127,352&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e996-wk-Fact-BBF07A8364DB7B9A865D5D5D9116053B"
      unitRef="usd">6986000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e1011-wk-Fact-5D99D6A93682899F7A8E5D5D91168CFC"
      unitRef="usd">54889000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e1031-wk-Fact-B0C9A707052DD083DA205D5D9116567F"
      unitRef="usd">71538000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e1051-wk-Fact-1973C371740DC4B1C4305D5D9116E741"
      unitRef="usd">5833000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e1071-wk-Fact-CC57AEE91ABB587254BF5D5D9116EBB4"
      unitRef="usd">11894000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-3"
      id="d5436313e1097-wk-Fact-4AF4F0D97607C03E47E25D5D9116D7BE"
      unitRef="usd">127352000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
    <us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-5"
      id="d5436313e1111-wk-Fact-FA17CBFBFDC141E6E7EA5D5D912952A1"
      unitRef="usd">4600000</us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed>
    <mtn:StampDutyExpense
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_FallsCreekandHothamMember"
      decimals="-5"
      id="d5436313e1115-wk-Fact-0D710A1C2D3139713F185D5D91201FB4"
      unitRef="usd">2900000</mtn:StampDutyExpense>
    <mtn:BusinessCombinationCashConsiderationTransferred
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1125-wk-Fact-82054FE506CAA0C2F4835D5D912273AE"
      unitRef="usd">64000000.0</mtn:BusinessCombinationCashConsiderationTransferred>
    <us-gaap:ProceedsFromRepaymentsOfDebt
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-5"
      id="d5436313e1129-wk-Fact-E1C1D4924C079485775B5D5D91164BB5"
      unitRef="usd">70000000.0</us-gaap:ProceedsFromRepaymentsOfDebt>
    <us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      id="TextSelection-C2D9C399F111835061315D5D91DE8F9E-0-wk-Fact-CED676F678DFD3452DDB5D5D9119638C">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;752&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;34,865&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,878&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,680&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income taxes, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;886&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,029&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;64,032&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1186-wk-Fact-AB63CB3139E6C54154595D5D90E93CCD"
      unitRef="usd">752000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1201-wk-Fact-59C343DBF41884EE13475D5D90E9CD9C"
      unitRef="usd">34865000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1221-wk-Fact-D91B4C78647415AEEC945D5D90E500D4"
      unitRef="usd">28878000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1241-wk-Fact-171FB04B0DE6F45030EA5D5D90E85E2A"
      unitRef="usd">2680000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1261-wk-Fact-32C12FF74B548C6444A95D5D90E97D62"
      unitRef="usd">886000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1281-wk-Fact-14CAC931C35B98DD81DE5D5D90E305CF"
      unitRef="usd">4029000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-3"
      id="d5436313e1307-wk-Fact-CA1FBC6179C514AFE6A45D5D90E7995A"
      unitRef="usd">64032000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
    <us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_StevensPassMember"
      decimals="-5"
      id="d5436313e1321-wk-Fact-28D96F9ADB0E27AB424A5D5D91264C2D"
      unitRef="usd">1200000</us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed>
    <mtn:BusinessCombinationCashConsiderationTransferred
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1331-wk-Fact-C8B196DCDCE0AA42169A5D5D91185E07"
      unitRef="usd">74100000</mtn:BusinessCombinationCashConsiderationTransferred>
    <us-gaap:BusinessCombinationConsiderationTransferredOther1
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-5"
      id="d5436313e1335-wk-Fact-327760AD19B12C6DF7B85D5D91219576"
      unitRef="usd">155000000.0</us-gaap:BusinessCombinationConsiderationTransferredOther1>
    <us-gaap:BusinessCombinationConsiderationTransferred1
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-5"
      id="d5436313e1339-wk-Fact-1A733A87AB3BC3196A0B5D5D91294B48"
      unitRef="usd">229100000</us-gaap:BusinessCombinationConsiderationTransferred1>
    <us-gaap:ProceedsFromRepaymentsOfDebt
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-5"
      id="d5436313e1343-wk-Fact-5B338B3642C902C7FA345D5D9125713E"
      unitRef="usd">195600000</us-gaap:ProceedsFromRepaymentsOfDebt>
    <us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      id="TextSelection-6776D45F7861799FDA015D5D91DEC54F-0-wk-Fact-8009E55DC60380D9628F5D5D912AFCD3">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:13%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisition Date Estimated Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,197&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;159,799&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;51,742&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Identifiable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,360&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income taxes, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,093&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18,098&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net assets acquired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;229,093&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1400-wk-Fact-E9205F1EBB641A6C31565D5D91B99E8F"
      unitRef="usd">5197000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1415-wk-Fact-D6E6162F014A8DA1F33E5D5D91BA4898"
      unitRef="usd">159799000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1435-wk-Fact-485135768C6FD2E262555D5D91B50EBF"
      unitRef="usd">51742000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1455-wk-Fact-5FCF2CCFB41298E9E7115D5D91B79E72"
      unitRef="usd">27360000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1475-wk-Fact-3A8846174EA4989FEFE35D5D91B68DC2"
      unitRef="usd">3093000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1495-wk-Fact-506ED173EB96A7C254A35D5D91B8EDBB"
      unitRef="usd">18098000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
    <us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-3"
      id="d5436313e1521-wk-Fact-805227CDDB7BD03ADD805D5D91B93E2A"
      unitRef="usd">229093000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
    <us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
      contextRef="FD2019Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_TriplePeaksLLCMember"
      decimals="-5"
      id="d5436313e1536-wk-Fact-CC4B072ACD9216FE902A5D5D911B3E8E"
      unitRef="usd">2800000</us-gaap:BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed>
    <us-gaap:BusinessAcquisitionProFormaInformationTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-75C14BBAC3A15AD006B95D5D91DFEA7D-0-wk-Fact-98BF5CD62405111524BF5D5D91175792">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Pro Forma Financial Information&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,970,363&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,490,809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma net income attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;100,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma basic net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.49&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.47&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Pro forma diluted net income per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:BusinessAcquisitionProFormaInformationTextBlock>
    <us-gaap:BusinessAcquisitionsProFormaRevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5436313e1677-wk-Fact-54388CEF6A603FF940785D5D918C22CD"
      unitRef="usd">1970363000</us-gaap:BusinessAcquisitionsProFormaRevenue>
    <us-gaap:BusinessAcquisitionsProFormaRevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5436313e1691-wk-Fact-753F62A1B6DD98F0D38B5D5D91901BA5"
      unitRef="usd">2490809000</us-gaap:BusinessAcquisitionsProFormaRevenue>
    <us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5436313e1711-wk-Fact-0FE889C4D2B296242BB15D5D90E853A2"
      unitRef="usd">100205000</us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss>
    <us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5436313e1725-wk-Fact-48F8A274B9DAC9ABA77B5D5D90E618E0"
      unitRef="usd">301234000</us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5436313e1745-wk-Fact-BB25A41137BF7A4FDBF25D5D91902372"
      unitRef="usdPerShare">2.49</us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5436313e1759-wk-Fact-59430934AF80FBF061F15D5D90E53A1B"
      unitRef="usdPerShare">7.47</us-gaap:BusinessAcquisitionProFormaEarningsPerShareBasic>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5436313e1779-wk-Fact-5DFF7603FE8B9687B4295D5D90E68842"
      unitRef="usdPerShare">2.45</us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted>
    <us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5436313e1793-wk-Fact-C5F91A8422B8BE3E3EDA5D5D90E7C05D"
      unitRef="usdPerShare">7.32</us-gaap:BusinessAcquisitionProFormaEarningsPerShareDiluted>
    <us-gaap:SupplementalBalanceSheetDisclosuresTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-042C469E20BCA1A380DD5D5D91E0BB73-0-wk-Fact-076BBD6D7FB21C66AE905D5D917C91D5">Supplementary Balance Sheet Information&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of property, plant and equipment, including capital lease assets, follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land and land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;750,714&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;619,561&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,475,661&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,284,438&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,361,178&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,160,817&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Furniture and fixtures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;308,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;309,271&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Software&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;104,223&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;118,815&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vehicles&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;65,556&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Construction in progress&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;81,967&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79,282&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Gross property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,162,520&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,637,740&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated depreciation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,969,841&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,795,240&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,192,679&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,842,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Depreciation expense, which included depreciation of assets recorded under capital leases, for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; totaled &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$243.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$210.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$199.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The following table summarizes the composition of property, plant and equipment recorded under finance leases as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;31,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;31,818&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;49,228&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;49,228&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,160&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,160&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60,384&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60,384&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Gross property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;183,590&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;183,590&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated depreciation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(65,792&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(56,040&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;117,798&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;127,550&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of goodwill and intangible assets follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,752,062&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,625,560&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,354&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,354&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,709,020&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,608,206&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Indefinite-lived intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trademarks&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;230,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,905&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,667&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,166&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross indefinite-lived intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;271,667&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;258,071&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Indefinite-lived intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;246,954&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;233,358&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Amortizable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trademarks&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,772&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,538&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross amortizable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;108,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,646&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(41,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(36,831&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Amortizable intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,822&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,815&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;380,647&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;367,717&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(65,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,544&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,776&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;306,173&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Amortization expense for intangible assets subject to amortization for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; totaled &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$7.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, and is estimated to be approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; annually, on average, for the next five fiscal years.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The changes in the net carrying amount of goodwill allocated between the Company&#x2019;s segments for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; are as follows (in thousands): &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Mountain &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Lodging &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Goodwill,&#160;net &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,407,787&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,899&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,475,686&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Acquisitions (including measurement period adjustments)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effects of changes in foreign currency exchange rates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(19,529&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(19,529&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,540,307&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,899&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,608,206&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Acquisitions (including measurement period adjustments)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Asset impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effects of changes in foreign currency exchange rates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9,485&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9,485&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,666,809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,211&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,709,020&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Asset Impairments&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company recorded asset impairments during the year ended July 31, 2020 of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$28.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, with corresponding reductions to goodwill, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and intangible assets, net and property, plant and equipment, net of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. These asset impairments encompass various estimates and assumptions about fair value, which are based predominately on significant unobservable inputs. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As a result of the COVID-19 pandemic and the impact it has had on the Company&#x2019;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. Additionally, the Company determined that certain long-lived assets of its Colorado resort ground transportation company were not recoverable. As a result, the Company recognized impairments of goodwill of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and intangible assets and long-lived assets of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which were recorded within asset impairments on the Company&#x2019;s Consolidated Statement of Operations during the year ended July 31, 2020. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company estimated the fair value of its Colorado resort ground transportation company reporting unit based on an analysis of the present value of future cash flows (an income approach). The significant estimates used in the discounted cash flow model included the Company&#x2019;s weighted average cost of capital for the reporting unit, projected cash flows and the long-term rate of growth, all of which are significant unobservable (Level 3) inputs. The Company&#x2019;s assumptions were based on the actual historical performance of the reporting unit, taking into account the recent weakening of operating results and the expected continuation of operating results for transportation services. As a result of this impairment, the Company&#x2019;s Colorado ground transportation company had no remaining goodwill recorded as of July 31, 2020.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of accounts payable and accrued liabilities follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trade payables&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;59,692&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;96,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;256,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,669&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accrued salaries, wages and deferred compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;25,588&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50,318&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accrued benefits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;37,797&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deposits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;20,070&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;32,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;36,604&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other accruals&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57,048&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;55,588&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total accounts payable and accrued liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;607,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of other long-term liabilities follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Private club deferred initiation fee revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;105,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,749&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Unfavorable lease obligation, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,651&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,017&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other long-term liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;163,486&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;154,835&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total other long-term liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,245&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;283,601&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:SupplementalBalanceSheetDisclosuresTextBlock>
    <us-gaap:PropertyPlantAndEquipmentTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-A2C53C0E44A92C46C0FD5D5D91DFE599-0-wk-Fact-E09E9858D6258308A30E5D5D917F5918">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of property, plant and equipment, including capital lease assets, follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Land and land improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;750,714&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;619,561&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Buildings and building improvements&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,475,661&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,284,438&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Machinery and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,361,178&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,160,817&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Furniture and fixtures&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;308,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;309,271&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Software&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;104,223&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;118,815&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vehicles&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;65,556&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Construction in progress&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;81,967&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79,282&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Gross property, plant and equipment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,162,520&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,637,740&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated depreciation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,969,841&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,795,240&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,192,679&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,842,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
    <mtn:LandAndLandImprovementsGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e791-wk-Fact-B34A4E2FAAE6508AF2245D5D9192D348"
      unitRef="usd">750714000</mtn:LandAndLandImprovementsGross>
    <mtn:LandAndLandImprovementsGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e805-wk-Fact-C8FC902998B751DF20785D5D919C34FB"
      unitRef="usd">619561000</mtn:LandAndLandImprovementsGross>
    <us-gaap:BuildingsAndImprovementsGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e820-wk-Fact-3DC507CBDBAEEA6B4FDA5D5D919259CE"
      unitRef="usd">1475661000</us-gaap:BuildingsAndImprovementsGross>
    <us-gaap:BuildingsAndImprovementsGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e834-wk-Fact-55AD4EB77B4BA5B480475D5D919D0427"
      unitRef="usd">1284438000</us-gaap:BuildingsAndImprovementsGross>
    <us-gaap:MachineryAndEquipmentGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e854-wk-Fact-06EAC5017B3639A666045D5D919CAEBB"
      unitRef="usd">1361178000</us-gaap:MachineryAndEquipmentGross>
    <us-gaap:MachineryAndEquipmentGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e868-wk-Fact-173021E1E416155E965C5D5D919F0981"
      unitRef="usd">1160817000</us-gaap:MachineryAndEquipmentGross>
    <us-gaap:FurnitureAndFixturesGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e888-wk-Fact-EC2EDE32778D93BE338B5D5D9198D9A1"
      unitRef="usd">308267000</us-gaap:FurnitureAndFixturesGross>
    <us-gaap:FurnitureAndFixturesGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e902-wk-Fact-7C262ACDF6D9DB5DAA7B5D5D919EFEA3"
      unitRef="usd">309271000</us-gaap:FurnitureAndFixturesGross>
    <us-gaap:CapitalizedComputerSoftwareGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e922-wk-Fact-1FAD6D8A624D191CD9515D5D919C44E9"
      unitRef="usd">104223000</us-gaap:CapitalizedComputerSoftwareGross>
    <us-gaap:CapitalizedComputerSoftwareGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e936-wk-Fact-D4345695B4FBA6C0BC405D5D91968547"
      unitRef="usd">118815000</us-gaap:CapitalizedComputerSoftwareGross>
    <mtn:VehiclesGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e956-wk-Fact-3B52DBF621CE44B48F495D5D91931490"
      unitRef="usd">80510000</mtn:VehiclesGross>
    <mtn:VehiclesGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e970-wk-Fact-C46543C0CB8CC386B2685D5D919D13C3"
      unitRef="usd">65556000</mtn:VehiclesGross>
    <us-gaap:ConstructionInProgressGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e990-wk-Fact-39AFCAAD66D4F04145C75D5D919B4E24"
      unitRef="usd">81967000</us-gaap:ConstructionInProgressGross>
    <us-gaap:ConstructionInProgressGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1004-wk-Fact-A1E0A1E5A6A8435A19445D5D9191081B"
      unitRef="usd">79282000</us-gaap:ConstructionInProgressGross>
    <us-gaap:PropertyPlantAndEquipmentGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1024-wk-Fact-E6EE8A67312F949B59415D5D919F83B8"
      unitRef="usd">4162520000</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1038-wk-Fact-AB1E6439E1921739D3DD5D5D9194517D"
      unitRef="usd">3637740000</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1058-wk-Fact-017CA9B371BBD4C990045D5D91991777"
      unitRef="usd">1969841000</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1073-wk-Fact-D97478B0DFA693A481515D5D919E708B"
      unitRef="usd">1795240000</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1100-wk-Fact-64306ED28AA8F0789DF35D5D910EC878"
      unitRef="usd">2192679000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1114-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A"
      unitRef="usd">1842500000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:Depreciation
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5440783e1147-wk-Fact-097E9D080BDBD9FC95A05D5D91831926"
      unitRef="usd">243100000</us-gaap:Depreciation>
    <us-gaap:Depreciation
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5440783e1151-wk-Fact-B7EC3A1A1558509E1C1A5D5D917CF6DB"
      unitRef="usd">210700000</us-gaap:Depreciation>
    <us-gaap:Depreciation
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5440783e1156-wk-Fact-E873E2E53A697F7DAEE65D5D9182DF4A"
      unitRef="usd">199200000</us-gaap:Depreciation>
    <mtn:CapitalLeasedAssetsLand
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1270-wk-Fact-8CD1DC0BDF0AD81D924880BBF057583A"
      unitRef="usd">31818000</mtn:CapitalLeasedAssetsLand>
    <mtn:CapitalLeasedAssetsLand
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1284-wk-Fact-E7B36C3A7FE02A62E31480BBF05E8BD9"
      unitRef="usd">31818000</mtn:CapitalLeasedAssetsLand>
    <mtn:CapitalLeasedAssetsLandImprovements
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1299-wk-Fact-109EC45750B08E6F5CF480BBF068A313"
      unitRef="usd">49228000</mtn:CapitalLeasedAssetsLandImprovements>
    <mtn:CapitalLeasedAssetsLandImprovements
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1313-wk-Fact-1D1FEDC84DEF0E19427280BBF08029B0"
      unitRef="usd">49228000</mtn:CapitalLeasedAssetsLandImprovements>
    <mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1333-wk-Fact-58353317622166438D4C80BBF06376DE"
      unitRef="usd">42160000</mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements>
    <mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1347-wk-Fact-A19EC93F96559B40875080BBF04EE1E0"
      unitRef="usd">42160000</mtn:CapitalLeasedAssetsBuildingsandBuildingImprovements>
    <mtn:CapitalLeasedAssetsMachineryandEquipment
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1367-wk-Fact-4A9E64637EFCC2154ADA80BBF08AAC44"
      unitRef="usd">60384000</mtn:CapitalLeasedAssetsMachineryandEquipment>
    <mtn:CapitalLeasedAssetsMachineryandEquipment
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1381-wk-Fact-34135168BE553222384A80BBF08F397D"
      unitRef="usd">60384000</mtn:CapitalLeasedAssetsMachineryandEquipment>
    <us-gaap:CapitalLeasedAssetsGross
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1401-wk-Fact-5EAEE8F36B871311B5F580BBF0850AC7"
      unitRef="usd">183590000</us-gaap:CapitalLeasedAssetsGross>
    <us-gaap:CapitalLeasedAssetsGross
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1415-wk-Fact-AD278BA489D5FDBF990580BBF076FB5F"
      unitRef="usd">183590000</us-gaap:CapitalLeasedAssetsGross>
    <mtn:CapitalLeasedAssetsAccumulatedDepreciation
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1435-wk-Fact-91EDE5E8945E75BB2E2480BBF07C5427"
      unitRef="usd">65792000</mtn:CapitalLeasedAssetsAccumulatedDepreciation>
    <mtn:CapitalLeasedAssetsAccumulatedDepreciation
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1450-wk-Fact-ACE4C589E4C4D7BB552B80BBF09397C6"
      unitRef="usd">56040000</mtn:CapitalLeasedAssetsAccumulatedDepreciation>
    <mtn:CapitalLeasedAssetsNet
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1476-wk-Fact-C6ECDDFD842E9C90E06D80BBF0717F34"
      unitRef="usd">117798000</mtn:CapitalLeasedAssetsNet>
    <mtn:CapitalLeasedAssetsNet
      contextRef="FI2019Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember"
      decimals="-3"
      id="d5440783e1490-wk-Fact-44A8205C4E75E1F2BBB780BBF06C891A"
      unitRef="usd">127550000</mtn:CapitalLeasedAssetsNet>
    <us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-76BBA44977B46A9FA74B5D5D91DFC338-0-wk-Fact-55EA5BE91739CED9C4D05D5D917DDD34">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of goodwill and intangible assets follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,752,062&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,625,560&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,354&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,354&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Goodwill, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,709,020&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,608,206&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Indefinite-lived intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trademarks&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;230,000&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,905&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;41,667&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,166&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross indefinite-lived intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;271,667&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;258,071&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Indefinite-lived intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;246,954&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;233,358&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Amortizable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trademarks&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,772&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,538&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross amortizable intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;108,980&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,646&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(41,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(36,831&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Amortizable intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,822&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,815&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total gross intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;380,647&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;367,717&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total accumulated amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(65,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,544&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total intangible assets, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,776&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;306,173&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock>
    <us-gaap:GoodwillGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1647-wk-Fact-11405CCFF06ED21714A65D5D914F594F"
      unitRef="usd">1752062000</us-gaap:GoodwillGross>
    <us-gaap:GoodwillGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1661-wk-Fact-939600149A3A7709EE815D5D91580C97"
      unitRef="usd">1625560000</us-gaap:GoodwillGross>
    <us-gaap:GoodwillImpairedAccumulatedImpairmentLoss
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1676-wk-Fact-CEE63A254174438D54B480BC5BF8F1F9"
      unitRef="usd">25688000</us-gaap:GoodwillImpairedAccumulatedImpairmentLoss>
    <us-gaap:GoodwillImpairedAccumulatedImpairmentLoss
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1691-wk-Fact-347BA9747751618FE8DB80BC5BD92386"
      unitRef="usd">0</us-gaap:GoodwillImpairedAccumulatedImpairmentLoss>
    <mtn:GoodwillAccumulatedAmortization
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1711-wk-Fact-EAFE58713ACE6C5A04865D5D9151C46A"
      unitRef="usd">17354000</mtn:GoodwillAccumulatedAmortization>
    <mtn:GoodwillAccumulatedAmortization
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1726-wk-Fact-F49EAE081504E872BE575D5D915B65FC"
      unitRef="usd">17354000</mtn:GoodwillAccumulatedAmortization>
    <us-gaap:Goodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1752-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7"
      unitRef="usd">1709020000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1766-wk-Fact-1E5757440BA1793761D05D5D912357D0"
      unitRef="usd">1608206000</us-gaap:Goodwill>
    <us-gaap:IndefiniteLivedTrademarks
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1858-wk-Fact-FBE69A534FBC7504EE2780BBDCFBFD0C"
      unitRef="usd">230000000</us-gaap:IndefiniteLivedTrademarks>
    <us-gaap:IndefiniteLivedTrademarks
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1872-wk-Fact-DB29C6A467EFE39B71F780BBDD32F20A"
      unitRef="usd">215905000</us-gaap:IndefiniteLivedTrademarks>
    <us-gaap:OtherIndefiniteLivedIntangibleAssets
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1887-wk-Fact-1134A79706064F083A7380BBDD2E2F8B"
      unitRef="usd">41667000</us-gaap:OtherIndefiniteLivedIntangibleAssets>
    <us-gaap:OtherIndefiniteLivedIntangibleAssets
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1901-wk-Fact-CE13B12F42DCCE1A384080BBDD3CE9F4"
      unitRef="usd">42166000</us-gaap:OtherIndefiniteLivedIntangibleAssets>
    <us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1922-wk-Fact-FABADBE102FB42070D0F80BBDCE96A5E"
      unitRef="usd">271667000</us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill>
    <us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1936-wk-Fact-2F75797885128B8876BE80BBDCFFC39C"
      unitRef="usd">258071000</us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwill>
    <mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1956-wk-Fact-BFAA9F089BCAD13DE53280BBDCF3118F"
      unitRef="usd">24713000</mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization>
    <mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e1971-wk-Fact-2616FBF3CF85F5E50D985D5D9156FF7C"
      unitRef="usd">24713000</mtn:IndefiniteLivedIntangibleAssetsAccumulatedAmortization>
    <mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e1997-wk-Fact-DE5783857F735EF68E3C80BBDCEE561D"
      unitRef="usd">246954000</mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet>
    <mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2011-wk-Fact-A09D82C18FB338D7ACD180BBDD4E3C44"
      unitRef="usd">233358000</mtn:IndefiniteLivedIntangibleAssetsExcludingGoodwillNet>
    <us-gaap:FiniteLivedTradeNamesGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2067-wk-Fact-BF7F0C535CF0FBEDBCD880BBDD45D1A3"
      unitRef="usd">38208000</us-gaap:FiniteLivedTradeNamesGross>
    <us-gaap:FiniteLivedTradeNamesGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2081-wk-Fact-8CACF9EB3CA9FABFA54A80BBDD0B12ED"
      unitRef="usd">42108000</us-gaap:FiniteLivedTradeNamesGross>
    <us-gaap:OtherFiniteLivedIntangibleAssetsGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2096-wk-Fact-A583B9CFEBF36293552A80BBDD3705F3"
      unitRef="usd">70772000</us-gaap:OtherFiniteLivedIntangibleAssetsGross>
    <us-gaap:OtherFiniteLivedIntangibleAssetsGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2110-wk-Fact-6B7C2920DFC5CB1E7DF980BBDCDF1FFB"
      unitRef="usd">67538000</us-gaap:OtherFiniteLivedIntangibleAssetsGross>
    <us-gaap:FiniteLivedIntangibleAssetsGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2130-wk-Fact-303F65D0AA1BA3A3607B80BBDD1CBA16"
      unitRef="usd">108980000</us-gaap:FiniteLivedIntangibleAssetsGross>
    <us-gaap:FiniteLivedIntangibleAssetsGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2144-wk-Fact-1E22E095B2408578FC7980BBDD078C7E"
      unitRef="usd">109646000</us-gaap:FiniteLivedIntangibleAssetsGross>
    <us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2164-wk-Fact-153A05F8504EF517901A80BBDD185F14"
      unitRef="usd">41158000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
    <us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2179-wk-Fact-B8F2A501B1AAC41A480B5D5D914BA12D"
      unitRef="usd">36831000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
    <us-gaap:FiniteLivedIntangibleAssetsNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2200-wk-Fact-FFC56F16B9A03CB9CB2080BBDD03BE3A"
      unitRef="usd">67822000</us-gaap:FiniteLivedIntangibleAssetsNet>
    <us-gaap:FiniteLivedIntangibleAssetsNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2214-wk-Fact-A600675DEFC4D629749280BBDCF73C81"
      unitRef="usd">72815000</us-gaap:FiniteLivedIntangibleAssetsNet>
    <mtn:GrossIntangibleAssetsExcludingGoodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2234-wk-Fact-24E1F501CD0A0D6B42AA80BBDD141034"
      unitRef="usd">380647000</mtn:GrossIntangibleAssetsExcludingGoodwill>
    <mtn:GrossIntangibleAssetsExcludingGoodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2248-wk-Fact-7A2B6E4F87235B7EA61E80BBDD4AC509"
      unitRef="usd">367717000</mtn:GrossIntangibleAssetsExcludingGoodwill>
    <mtn:AccumulatedAmortizationExcludingGoodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2268-wk-Fact-16181C84CFD317E603D880BBDD20A5D9"
      unitRef="usd">65871000</mtn:AccumulatedAmortizationExcludingGoodwill>
    <mtn:AccumulatedAmortizationExcludingGoodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2283-wk-Fact-286FB5396703FB0A1A7D80BBDD2A714A"
      unitRef="usd">61544000</mtn:AccumulatedAmortizationExcludingGoodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2310-wk-Fact-DD377BD21F5F9451264D5D5D910C0E19"
      unitRef="usd">314776000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:IntangibleAssetsNetExcludingGoodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2324-wk-Fact-6DCAF9E78621DF09FADF5D5D91223F2A"
      unitRef="usd">306173000</us-gaap:IntangibleAssetsNetExcludingGoodwill>
    <us-gaap:AmortizationOfIntangibleAssets
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5440783e2357-wk-Fact-F5BC8F12C95721CC29F85D5D917E1AA7"
      unitRef="usd">6500000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:AmortizationOfIntangibleAssets
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5440783e2361-wk-Fact-7FB8D386FE5C6D0D3D365D5D9180A619"
      unitRef="usd">7400000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:AmortizationOfIntangibleAssets
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5440783e2366-wk-Fact-411625BA59DCC310CF045D5D917BA7B6"
      unitRef="usd">5300000</us-gaap:AmortizationOfIntangibleAssets>
    <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2370-wk-Fact-3087E6BAE101CA7BC3B05D5D917BD57E"
      unitRef="usd">4300000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths>
    <us-gaap:ScheduleOfGoodwillTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-BAF5CE782F7079CA28965D5D91DF452D-0-wk-Fact-6B468DA677242DD3D6855D5D917E3054">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The changes in the net carrying amount of goodwill allocated between the Company&#x2019;s segments for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; are as follows (in thousands): &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Mountain &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Lodging &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Goodwill,&#160;net &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,407,787&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,899&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,475,686&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Acquisitions (including measurement period adjustments)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effects of changes in foreign currency exchange rates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(19,529&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(19,529&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,540,307&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67,899&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,608,206&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Acquisitions (including measurement period adjustments)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;135,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Asset impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(25,688&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effects of changes in foreign currency exchange rates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9,485&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9,485&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,666,809&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42,211&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,709,020&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfGoodwillTextBlock>
    <us-gaap:Goodwill
      contextRef="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2477-wk-Fact-1E89D7312E122615BCF95D5D9163FE52"
      unitRef="usd">1407787000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2018Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2491-wk-Fact-BB496F5CDA9AFEE7E08D5D5D915EA057"
      unitRef="usd">67899000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5440783e2505-wk-Fact-5682B86FFFC740FDDBC95D5D91704B8C"
      unitRef="usd">1475686000</us-gaap:Goodwill>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2520-wk-Fact-EB7D3DBD2B1A592FF41E5D5D914C75AF"
      unitRef="usd">152049000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2534-wk-Fact-27150363878749957D385D5D915DC6DF"
      unitRef="usd">0</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5440783e2548-wk-Fact-9E4CBBD9AC7B16FF59C45D5D916B2A2B"
      unitRef="usd">152049000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2568-wk-Fact-235BA4347DAF936301F05D5D91610671"
      unitRef="usd">-19529000</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2583-wk-Fact-82259E45FCDE9E1DED045D5D9161CC3F"
      unitRef="usd">0</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5440783e2597-wk-Fact-65D4A067032D2F723F125D5D915F4607"
      unitRef="usd">-19529000</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:Goodwill
      contextRef="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2618-wk-Fact-34AD446CDEFB2FE2D9F080BBE4B708CD"
      unitRef="usd">1540307000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2019Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2632-wk-Fact-82E7E8657B9AFF23C79780BBE4BD8D57"
      unitRef="usd">67899000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e2646-wk-Fact-1E5757440BA1793761D05D5D912357D0"
      unitRef="usd">1608206000</us-gaap:Goodwill>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2666-wk-Fact-8467488864DA2EC1010880BBE48F9691"
      unitRef="usd">135987000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2680-wk-Fact-99CBC2C1645BA43179405D5D9154B58A"
      unitRef="usd">0</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillAcquiredDuringPeriod
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5440783e2694-wk-Fact-30D3B06C3428CB19424E80BBE4A9C75D"
      unitRef="usd">135987000</us-gaap:GoodwillAcquiredDuringPeriod>
    <us-gaap:GoodwillImpairmentLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2714-wk-Fact-06564239713FAD98741C80BE6023F969"
      unitRef="usd">0</us-gaap:GoodwillImpairmentLoss>
    <us-gaap:GoodwillImpairmentLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2728-wk-Fact-0D48BB3D94DCF6ABB1BA80BE6014B746"
      unitRef="usd">25688000</us-gaap:GoodwillImpairmentLoss>
    <us-gaap:GoodwillImpairmentLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5440783e2743-wk-Fact-5A31CA19963C545D8AFF80BE6018D50E"
      unitRef="usd">25688000</us-gaap:GoodwillImpairmentLoss>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2764-wk-Fact-C4A2B5C4F2EF8B01133080BBE4A459C8"
      unitRef="usd">-9485000</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2779-wk-Fact-45DECA8054864B28C2845D5D9161E910"
      unitRef="usd">0</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:GoodwillForeignCurrencyTranslationGainLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5440783e2793-wk-Fact-142C850C03B1446565EF80BBE4B33F27"
      unitRef="usd">-9485000</us-gaap:GoodwillForeignCurrencyTranslationGainLoss>
    <us-gaap:Goodwill
      contextRef="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5440783e2819-wk-Fact-D866229112199967453B80BBE495CD51"
      unitRef="usd">1666809000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2020Q4_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5440783e2833-wk-Fact-86EE2C689F165FB036BD80BBE49AF2C6"
      unitRef="usd">42211000</us-gaap:Goodwill>
    <us-gaap:Goodwill
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e2847-wk-Fact-FD37CE8DCDED8DA49FA45D5D910A1CC7"
      unitRef="usd">1709020000</us-gaap:Goodwill>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5440783e2872-wk-Fact-F77AF2D31CC06FF346F68ADB8BDB9FB6"
      unitRef="usd">28400000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember"
      decimals="-5"
      id="d5440783e2876-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F"
      unitRef="usd">25700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember"
      decimals="-5"
      id="d5440783e2880-wk-Fact-7024F556989CBCD420CD8ADC02C29240"
      unitRef="usd">2700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_GoodwillMember"
      decimals="-5"
      id="d5440783e2887-wk-Fact-ABD8132E496C52FAF10B8ADBF5C72B2F"
      unitRef="usd">25700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_FiniteLivedIntangibleAssetsMember"
      decimals="-5"
      id="d5440783e2891-wk-Fact-7024F556989CBCD420CD8ADC02C29240"
      unitRef="usd">2700000</us-gaap:AssetImpairmentCharges>
    <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-3FD6B5C1D45D1C6430D25D5D91DF1D8C-0-wk-Fact-D59DCEEE6925245A727E5D5D917E7864">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of accounts payable and accrued liabilities follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Trade payables&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;59,692&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;96,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;256,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;335,669&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accrued salaries, wages and deferred compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;25,588&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50,318&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Accrued benefits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;37,797&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deposits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;20,070&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;32,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;36,604&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other accruals&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;57,048&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;55,588&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total accounts payable and accrued liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;607,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
    <us-gaap:AccountsPayableTradeCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3012-wk-Fact-11C97B77D17E81CD6F185D5D914DC4F4"
      unitRef="usd">59692000</us-gaap:AccountsPayableTradeCurrent>
    <us-gaap:AccountsPayableTradeCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3026-wk-Fact-F6DAE89DD789366A82775D5D9159118E"
      unitRef="usd">96377000</us-gaap:AccountsPayableTradeCurrent>
    <us-gaap:DeferredRevenueCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3041-wk-Fact-9E9737151CB76ED8B6235D5D9144039A"
      unitRef="usd">256402000</us-gaap:DeferredRevenueCurrent>
    <us-gaap:DeferredRevenueCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3055-wk-Fact-2C5CCBC7402D410BE1705D5D914CE739"
      unitRef="usd">335669000</us-gaap:DeferredRevenueCurrent>
    <us-gaap:AccruedSalariesCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3075-wk-Fact-48AEC81216B15162D25D5D5D915302A8"
      unitRef="usd">25588000</us-gaap:AccruedSalariesCurrent>
    <us-gaap:AccruedSalariesCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3089-wk-Fact-CA105949137FC5FD92E15D5D91535218"
      unitRef="usd">50318000</us-gaap:AccruedSalariesCurrent>
    <us-gaap:AccruedEmployeeBenefitsCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3109-wk-Fact-60ABB350BDE5BE287F1A5D5D9143C1DC"
      unitRef="usd">43704000</us-gaap:AccruedEmployeeBenefitsCurrent>
    <us-gaap:AccruedEmployeeBenefitsCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3123-wk-Fact-BE6ACDEF55D54CE0BF005D5D9150232B"
      unitRef="usd">37797000</us-gaap:AccruedEmployeeBenefitsCurrent>
    <us-gaap:Deposits
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3143-wk-Fact-D1479A2A30D20D177C2F5D5D91501981"
      unitRef="usd">20070000</us-gaap:Deposits>
    <us-gaap:Deposits
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3157-wk-Fact-CC0F0741C8651DEDFC175D5D914FDF69"
      unitRef="usd">32108000</us-gaap:Deposits>
    <us-gaap:OperatingLeaseLiabilityCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3177-wk-Fact-F76A9D48BFB4393B671780BF3D9C11B1"
      unitRef="usd">36604000</us-gaap:OperatingLeaseLiabilityCurrent>
    <us-gaap:OperatingLeaseLiabilityCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3191-wk-Fact-ACF9816FD70427584F3780BF3DC84791"
      unitRef="usd">0</us-gaap:OperatingLeaseLiabilityCurrent>
    <us-gaap:OtherAccruedLiabilitiesCurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3211-wk-Fact-DC58389F08E1EE9787E85D5D914FC257"
      unitRef="usd">57048000</us-gaap:OtherAccruedLiabilitiesCurrent>
    <us-gaap:OtherAccruedLiabilitiesCurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3225-wk-Fact-BA0D56DA4F01F85AA9445D5D914D6711"
      unitRef="usd">55588000</us-gaap:OtherAccruedLiabilitiesCurrent>
    <mtn:AccountsPayableAccruedLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3250-wk-Fact-AF4796D5942D1A3842C55D5D91118234"
      unitRef="usd">499108000</mtn:AccountsPayableAccruedLiabilities>
    <mtn:AccountsPayableAccruedLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3264-wk-Fact-7C83BC5D9511B39DFBFD5D5D911281E8"
      unitRef="usd">607857000</mtn:AccountsPayableAccruedLiabilities>
    <mtn:ScheduleOfOtherLongTermLiabilitiesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-C4BC89D845D7B038A6165D5D91DFE6C0-0-wk-Fact-AD9F53F2CCE88B2384E15D5D9182B7CA">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The composition of other long-term liabilities follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Private club deferred initiation fee revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;105,108&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,749&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Unfavorable lease obligation, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,651&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;19,017&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other long-term liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;163,486&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;154,835&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total other long-term liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,245&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;283,601&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</mtn:ScheduleOfOtherLongTermLiabilitiesTableTextBlock>
    <mtn:PrivateClubDeferredInitiationFeesAndDeposits
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3396-wk-Fact-062B103B1605BD380F515D5D91BB8576"
      unitRef="usd">105108000</mtn:PrivateClubDeferredInitiationFeesAndDeposits>
    <mtn:PrivateClubDeferredInitiationFeesAndDeposits
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3410-wk-Fact-7544396D8F6780BA07E05D5D91BC49EF"
      unitRef="usd">109749000</mtn:PrivateClubDeferredInitiationFeesAndDeposits>
    <mtn:UnfavorableLeaseObligationNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3425-wk-Fact-50025BB2D4ED9726583F5D5D91BFF2BA"
      unitRef="usd">1651000</mtn:UnfavorableLeaseObligationNet>
    <mtn:UnfavorableLeaseObligationNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3439-wk-Fact-BE41C73E2F2A2B89F8AB5D5D91C0F945"
      unitRef="usd">19017000</mtn:UnfavorableLeaseObligationNet>
    <us-gaap:OtherLiabilitiesNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3459-wk-Fact-90FE2536637E392931D95D5D91BC9D39"
      unitRef="usd">163486000</us-gaap:OtherLiabilitiesNoncurrent>
    <us-gaap:OtherLiabilitiesNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3473-wk-Fact-609520DAD83DD24950FB5D5D91BFF37D"
      unitRef="usd">154835000</us-gaap:OtherLiabilitiesNoncurrent>
    <mtn:OtherLongTermLiabilitiesNoncurrent
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5440783e3498-wk-Fact-BA4612E83261F608F56D5D5D91080945"
      unitRef="usd">270245000</mtn:OtherLongTermLiabilitiesNoncurrent>
    <mtn:OtherLongTermLiabilitiesNoncurrent
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5440783e3512-wk-Fact-6AEC794DB971BD159FF35D5D9100CC2A"
      unitRef="usd">283601000</mtn:OtherLongTermLiabilitiesNoncurrent>
    <us-gaap:EquityMethodInvestmentsDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-74D1C7A13E37F1826E985D5D91E05278-0-wk-Fact-394FC8B96A435F371B1C5D5D916F4E2F">Investments in Affiliates&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company held the following investments in equity method affiliates as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Equity Method Affiliates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Ownership&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Interest&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (&#x201c;SSF/VARE&#x201d;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;KRED&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Clinton Ditch and Reservoir Company&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company had total net investments in equity method affiliates of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$10.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, included within deferred charges and other assets in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;50% or less owned&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; entities accounted for by the equity method was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. During the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, distributions in the amounts of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$0.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, were received from equity method affiliates.&lt;/span&gt;&lt;/div&gt;</us-gaap:EquityMethodInvestmentsDisclosureTextBlock>
    <us-gaap:EquityMethodInvestmentsTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B1E6DBE386DB92E9F1DB5D5D91E0F029-0-wk-Fact-2578142F12B9913CDFF15D5D91642F37">&lt;div style="line-height:120%;padding-top:16px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company held the following investments in equity method affiliates as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="2"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Equity Method Affiliates&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Ownership&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Interest&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (&#x201c;SSF/VARE&#x201d;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;KRED&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Clinton Ditch and Reservoir Company&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;43%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:EquityMethodInvestmentsTextBlock>
    <us-gaap:EquityMethodInvestmentOwnershipPercentage
      contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember"
      decimals="2"
      id="d5440994e726-wk-Fact-255D936AB0DE5110D8585D5D914B859A"
      unitRef="number">0.50</us-gaap:EquityMethodInvestmentOwnershipPercentage>
    <us-gaap:EquityMethodInvestmentOwnershipPercentage
      contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_KeystoneAndIntrawestLlcMember"
      decimals="2"
      id="d5440994e737-wk-Fact-21ED5FD892E000D97C625D5D9149E922"
      unitRef="number">0.50</us-gaap:EquityMethodInvestmentOwnershipPercentage>
    <us-gaap:EquityMethodInvestmentOwnershipPercentage
      contextRef="FI2020Q4_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mtn_ClintonDitchAndReservoirCompanyMember"
      decimals="2"
      id="d5440994e748-wk-Fact-72312F4033789D3426A25D5D914A3BC3"
      unitRef="number">0.43</us-gaap:EquityMethodInvestmentOwnershipPercentage>
    <us-gaap:EquityMethodInvestments
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5440994e765-wk-Fact-54F3AC10B3A945ED51BD5D5D9170336F"
      unitRef="usd">10200000</us-gaap:EquityMethodInvestments>
    <us-gaap:EquityMethodInvestments
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5440994e769-wk-Fact-7BAADB8EA5C25952041B5D5D915BFE1B"
      unitRef="usd">8800000</us-gaap:EquityMethodInvestments>
    <us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5440994e786-wk-Fact-9F9F334F2E855AE0BDA45D5D9174978C"
      unitRef="usd">6500000</us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees>
    <us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5440994e790-wk-Fact-1668E7DD6322092CF5B05D5D91626BE9"
      unitRef="usd">5400000</us-gaap:RetainedEarningsUndistributedEarningsFromEquityMethodInvestees>
    <us-gaap:EquityMethodInvestmentDividendsOrDistributions
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5440994e815-wk-Fact-6543A6ADF127022052395D5D9164AEDF"
      unitRef="usd">700000</us-gaap:EquityMethodInvestmentDividendsOrDistributions>
    <us-gaap:EquityMethodInvestmentDividendsOrDistributions
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5440994e819-wk-Fact-D206C43A8BCD7789B14E5D5D915D3332"
      unitRef="usd">1000000.0</us-gaap:EquityMethodInvestmentDividendsOrDistributions>
    <us-gaap:EquityMethodInvestmentDividendsOrDistributions
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5440994e823-wk-Fact-DDD2D2FD046FF12FF78A5D5D91571EE3"
      unitRef="usd">1500000</us-gaap:EquityMethodInvestmentDividendsOrDistributions>
    <us-gaap:FairValueDisclosuresTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-78E0C8D5A24199AB43A05D5D91E0264A-0-wk-Fact-5024D757D2218D91068A5D5D90EB4B4A">Fair Value Measurements&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company utilizes FASB issued fair value guidance that establishes how reporting entities should measure fair value for measurement and disclosure purposes.&#160;The guidance establishes a common definition of fair value applicable to all assets and liabilities measured at fair value and prioritizes the inputs into valuation techniques used to measure fair value.&#160;Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value.&#160;The three levels of the hierarchy are as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Level 2: Inputs include quoted prices for similar assets and liabilities in active and inactive markets or that are observable for the asset or liability either directly or indirectly; and&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Level 3: Unobservable inputs which are supported by little or no market activity.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The table below summarizes the Company&#x2019;s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at their estimated fair values (all other assets and liabilities measured at fair value are immaterial) (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value Measurement as of July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Description&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Money Market&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;203,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;203,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Commercial Paper&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Certificates of Deposit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest Rate Swaps&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value Measurement as of July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Description&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Money Market&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,043&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,043&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Commercial Paper&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Certificates of Deposit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company&#x2019;s cash equivalents, other current assets and Interest Rate Swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. During the year ended July 31, 2020, the Company entered into the Interest Rate Swaps to hedge the LIBOR-based variable interest rate component of $400.0 million in principal amount of its Vail Holdings Credit Agreement. Changes in the estimated fair value are recognized in change in estimated fair value of hedging instruments on the Company&#x2019;s Consolidated Statements of Comprehensive Income. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. The estimated fair value of the Interest Rate Swaps are included within other long-term liabilities on the Company&#x2019;s Consolidated Balance Sheet as of July 31, 2020.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The changes in Contingent Consideration during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,900&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(67&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in estimated fair value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,367&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(6,436&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in estimated fair value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,964&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Lease for Park City, as discussed in Note 6, Long-term Debt, provides for participating contingent payments (the &#x201c;Contingent Consideration&#x201d;) to the landlord of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Lease by the Company.&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included Park City EBITDA for the year ending July 31, 2022, an assumed long-term growth rate, a discount rate of 10.49% and volatility of 17.0%, which are unobservable inputs and thus are considered Level 3 inputs.&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated future performance would result in a change in the estimated fair value within the range of approximately $2.9 million to $4.1 million.&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration is classified as a liability in our Consolidated Balance Sheets and is remeasured to an estimated fair value at each reporting date until the contingency is resolved. During the year ended July 31, 2020, the Company made a payment to the landlord for Contingent Consideration of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and recorded a decrease in the estimated fair value of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; primarily related to changes in the expected Contingent Consideration payments for the year ended July 31, 2020 and the year ending July 31, 2021, and other key assumptions noted above, resulting in an estimated fair value of the Contingent Consideration of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$17.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which is reflected in accounts payable and accrued liabilities and other long-term liabilities in the Consolidated Balance Sheet.&lt;/span&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
    <us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-114E713DD05B9631B3BA5D5D91E11A42-0-wk-Fact-959FE91137621F048D055D5D90E9B7E0">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The table below summarizes the Company&#x2019;s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at their estimated fair values (all other assets and liabilities measured at fair value are immaterial) (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value Measurement as of July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Description&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level&#160;3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Money Market&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;203,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;203,158&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Commercial Paper&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Certificates of Deposit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,208&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest Rate Swaps&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,510&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Estimated Fair Value Measurement as of July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Description&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 2&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Level 3&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Money Market&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,043&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,043&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Commercial Paper&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,401&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Certificates of Deposit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,871&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2014;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember"
      decimals="-3"
      id="d5442678e937-wk-Fact-E9584E234927D9F3B6265D5D916F307E"
      unitRef="usd">203158000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember"
      decimals="-3"
      id="d5442678e951-wk-Fact-168D9345698882758B535D5D9174708D"
      unitRef="usd">203158000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember"
      decimals="-3"
      id="d5442678e1000-wk-Fact-B7424C2A92B31336558E5D5D915AC6A5"
      unitRef="usd">2401000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember"
      decimals="-3"
      id="d5442678e1028-wk-Fact-746EECD847245BDA44AD5D5D9157BB1A"
      unitRef="usd">2401000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember"
      decimals="-3"
      id="d5442678e1063-wk-Fact-B90BA40EFB822645168C5D5D916C391A"
      unitRef="usd">8208000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember"
      decimals="-3"
      id="d5442678e1091-wk-Fact-3BD8C5BCA0721C85791C5D5D91575145"
      unitRef="usd">8208000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5442678e1193-wk-Fact-ED7B1BC5F906739CADCA97D9ED7E67A8"
      unitRef="usd">22510000</us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue>
    <us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member"
      decimals="-3"
      id="d5442678e1221-wk-Fact-129C14AEE5CCA1AADAB597DA69C758FC"
      unitRef="usd">22510000</us-gaap:InterestRateCashFlowHedgeLiabilityAtFairValue>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5442678e1256-wk-Fact-90E3DF376ADDC8F02BAC5D5D91608E97"
      unitRef="usd">17800000</mtn:ContingentConsiderationFairValueDisclosure>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member"
      decimals="-3"
      id="d5442678e1299-wk-Fact-FDD83CB3BFD9470DF66F5D5D90F737DF"
      unitRef="usd">17800000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember"
      decimals="-3"
      id="d5442678e1587-wk-Fact-ED1F1222E1B5D643F7A15D5D916D0118"
      unitRef="usd">3043000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel1Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_MoneyMarketFundsMember"
      decimals="-3"
      id="d5442678e1601-wk-Fact-E55EDA04FE8FD4D1B35E5D5D9177287F"
      unitRef="usd">3043000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember"
      decimals="-3"
      id="d5442678e1650-wk-Fact-8FB9407FEFDCD41AA58B5D5D915BA93E"
      unitRef="usd">2401000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CommercialPaperMember"
      decimals="-3"
      id="d5442678e1678-wk-Fact-E8D12CB9A83B662B25B45D5D91700E65"
      unitRef="usd">2401000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember"
      decimals="-3"
      id="d5442678e1713-wk-Fact-BB3A183F52D3451D9CD15D5D91557674"
      unitRef="usd">7871000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <us-gaap:CashAndCashEquivalentsFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel2Member_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_us-gaap_CertificatesOfDepositMember"
      decimals="-3"
      id="d5442678e1741-wk-Fact-F1455E1CFBEA1CEFC1425D5D91558989"
      unitRef="usd">7871000</us-gaap:CashAndCashEquivalentsFairValueDisclosure>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5442678e1843-wk-Fact-5DF240569FFCA791DACC5D5D9175595A"
      unitRef="usd">27200000</mtn:ContingentConsiderationFairValueDisclosure>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2019Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member"
      decimals="-3"
      id="d5442678e1886-wk-Fact-0F78AF515195606A0AD85D5D917A0C94"
      unitRef="usd">27200000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-78F32C00599FF03E4F85B21D96E7285F-0-wk-Fact-8F47D1FCB143A908BF8BB21F11C943DF">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The changes in Contingent Consideration during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; were as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:84%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,900&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(67&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in estimated fair value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,367&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;27,200&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Payment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(6,436&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in estimated fair value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,964&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,800&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5442678e1965-wk-Fact-C4716C50425FBE3C4A965D5D9173580D"
      unitRef="usd">21900000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:PaymentsForRent
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5442678e1980-wk-Fact-F546A6A3DC0464CFFF225D5D91757C60"
      unitRef="usd">67000</us-gaap:PaymentsForRent>
    <us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5442678e2001-wk-Fact-26D4E1C16936B10C3C5A5D5D90F7B4A2"
      unitRef="usd">5367000</us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5442678e2021-wk-Fact-5DF240569FFCA791DACC5D5D9175595A"
      unitRef="usd">27200000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:PaymentsForRent
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5442678e2041-wk-Fact-ED0EBB0488B14577CA945D5D917461D0"
      unitRef="usd">6436000</us-gaap:PaymentsForRent>
    <us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5442678e2062-wk-Fact-1969DB943C8BD5539DFF5D5D917316CD"
      unitRef="usd">-2964000</us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2020Q4_us-gaap_FairValueByFairValueHierarchyLevelAxis_us-gaap_FairValueInputsLevel3Member"
      decimals="-3"
      id="d5442678e2088-wk-Fact-FDD83CB3BFD9470DF66F5D5D90F737DF"
      unitRef="usd">17800000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:BusinessCombinationContingentConsiderationArrangementsDescription
      contextRef="FD2020Q4YTD"
      id="d5442678e2099-wk-Fact-9288A0F5FE9614A096905D5D90E9B5CA">42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Lease by the Company.</us-gaap:BusinessCombinationContingentConsiderationArrangementsDescription>
    <mtn:ContingentConsiderationKeyAssumptionsforValuation
      contextRef="FD2020Q4YTD"
      id="d5442678e2103-wk-Fact-C3EB3694C87827C7EFBA5D5D90E85AB6">The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included Park City EBITDA for the year ending July 31, 2022, an assumed long-term growth rate, a discount rate of 10.49% and volatility of 17.0%, which are unobservable inputs and thus are considered Level 3 inputs.</mtn:ContingentConsiderationKeyAssumptionsforValuation>
    <us-gaap:SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription
      contextRef="FD2020Q4YTD"
      id="d5442678e2107-wk-Fact-156AA33EF15BC41AB0885D5D90EB4D49">The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated future performance would result in a change in the estimated fair value within the range of approximately $2.9 million to $4.1 million.</us-gaap:SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription>
    <us-gaap:PaymentsForRent
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5442678e2115-wk-Fact-527AE3648353F1C8F63E5D5D90E37800"
      unitRef="usd">6400000</us-gaap:PaymentsForRent>
    <us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5442678e2119-wk-Fact-23A8AD05F3B43B7F7C9C5D5D90E416FE"
      unitRef="usd">-3000000.0</us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1>
    <mtn:ContingentConsiderationFairValueDisclosure
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5442678e2123-wk-Fact-90E3DF376ADDC8F02BAC5D5D91608E97"
      unitRef="usd">17800000</mtn:ContingentConsiderationFairValueDisclosure>
    <us-gaap:IncomeTaxDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-20139BC94CDE3899A7A95D5D91E1108D-0-wk-Fact-39BF422926AE625B0B275D5D918212CD">Income Taxes&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company is subject to taxation in U.S. federal, state, and local jurisdictions and various non-U.S. jurisdictions, including Australia and Canada. The Company&#x2019;s effective tax rate is impacted by the tax laws, regulations, practices and interpretations in the jurisdictions in which it operates and may fluctuate significantly from period to period depending on, among other things, the geographic mix of the Company&#x2019;s profits and losses, changes in tax laws and regulations or their application and interpretation, the outcome of tax audits and changes in valuation allowances associated with the Company&#x2019;s deferred tax assets.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On March 27, 2020, in response to the COVID-19 pandemic, the U.S. government enacted legislation commonly referred to as the Coronavirus Aid, Relief, and Economic Security Act (the &#x201c;CARES Act&#x201d;). The CARES Act includes various amendments to the U.S. tax code that impacted the Company&#x2019;s accounting and reporting for income taxes during the year ended July 31, 2020, and the Company expects these amendments will continue to impact its accounting and reporting for income taxes in the future. The primary provisions of the CARES Act that the Company has been impacted by include:&lt;/span&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;allowing a carryback of the entire amount of eligible Federal net operating losses (&#x201c;NOLs&#x201d;) generated in calendar years 2018, 2019 and 2020 for up to five years prior to when such losses were incurred, representing a change from previous rules under the Tax Cuts &amp;amp; Jobs Act of 2017 (the &#x201c;TCJA&#x201d;), in which NOLs could not be carried back to prior years and utilization was limited to 80% of taxable income in future years. Under the CARES Act, the Company was permitted to carry back its pre-existing NOLs to tax years prior to the enactment of the TCJA and obtain an incremental benefit of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; related to the differential in federal tax rates between years that NOLs were generated and years that the NOLs will be carried back to;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;treatment of certain qualified improvement property (&#x201c;QIP&#x201d;) as 15-year property and allowing such QIP placed in service after December 31, 2017 to be eligible for bonus depreciation, which could incrementally add to its pre-existing NOLs; and&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:48px;"/&gt;&lt;td/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:24px;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#x2022;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;"&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;increases in the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income for calendar years 2019 and 2020.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The CARES Act also provides refundable employee retention credits and defers the requirement to remit the employer-paid portion of social security payroll taxes. As a result, during the year ended July 31, 2020, the Company recorded a benefit of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which primarily offset Mountain and Lodging operating expense as a result of wages paid to employees who were not providing services. Additionally, the Company deferred payment of the employer-paid portion of social security payroll taxes through the end of calendar year 2020 and will remit such amounts in equal installments during calendar years 2021 and 2022.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company also recognized a benefit of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; during the year ended July 31, 2020 as a result of the recent Canada Emergency Wage Subsidy and Australian JobKeeper legislation for its Canadian and Australian employees, which primarily offset Mountain and Lodging operating expense.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S. and foreign components of income before (provision) benefit from income taxes is as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;89,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;306,323&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;264,379&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;26,595&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;92,642&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income before income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;116,433&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;398,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,092&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company&#x2019;s deferred tax liabilities and assets are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Fixed assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;216,016&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;153,182&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86,509&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;73,146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease right of use assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,727&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,709&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,425&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;369,961&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;239,753&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Canyons obligation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,997&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Stock-based compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,313&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,620&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Investment in Partnerships&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,400&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,281&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred compensation and other accrued benefits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,918&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,674&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,468&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,771&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Unfavorable lease obligation, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;285&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,896&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net operating loss carryforwards and other tax credits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,631&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,427&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,850&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;147,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;83,645&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Valuation allowance for deferred income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(5,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(5,365&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax assets, net of valuation allowance&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;142,521&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,280&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;227,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,473&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax asset&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,751&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,286&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;234,191&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;168,759&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;227,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,473&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Significant components of the provision (benefit) from income taxes are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Federal&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(13,467&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;24,309&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(43,366&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(731&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,539&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,562&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,141&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;20,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,436&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(10,057&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,053&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(15,368&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Federal&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,597&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,983&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(45,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,266&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,282&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,941&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;572&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;154&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,789&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total deferred&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,435&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,419&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(45,770&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,472&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A reconciliation of the income tax provision (benefit) from continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;At U.S. federal income tax rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;26.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State income tax, net of federal benefit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in uncertain tax positions&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.6&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in valuation allowance&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Excess tax benefits related to stock-based compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(7.1&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(20.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Impacts of the Tax Act and other legislative changes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.2&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Noncontrolling interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign rate differential&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effective tax rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6.3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance, beginning of year&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,242&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;76,111&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Additions for tax positions of prior years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,654&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11,520&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lapse of statute of limitations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18,577&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,540&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(10,263&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance, end of year&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,242&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company&#x2019;s unrecognized tax benefits associated with uncertain tax positions relate to the treatment of the Talisker lease payments as payments of debt obligations and that the tax basis in Canyons goodwill is deductible, and are included within &#x201c;other long-term liabilities&#x201d; in the accompanying Consolidated Balance Sheets. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;During the year ended July 31, 2020, the Company experienced a reduction in the uncertain tax positions due to the lapse of the statute of limitations of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$18.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which was partially offset with an increase to the uncertain tax position of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$16.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Interest and penalties associated with the statute of limitations lapse were approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. Additionally, the Company expects a reduction to its uncertain tax positions for the fiscal year ending July 31, 2021, due to the lapse of the statute of limitations. As of July&#160;31, 2020 and 2019, accrued interest and penalties, net of tax, was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. For the years ended July&#160;31, 2020, 2019 and 2018, the Company recognized income tax (benefit) expense of (&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$0.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;), &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of interest (benefit) expense and penalties, net of tax, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company&#x2019;s major tax jurisdictions in which it files income tax returns are the U.S. federal jurisdiction, various state jurisdictions, Australia, and Canada. The Company is no longer subject to U.S. federal examinations for tax years prior to 2015. With few exceptions, the Company is no longer subject to examination by various U.S. state jurisdictions for tax years prior to 2014. Additionally, the Company is no longer subject to audits for the tax years prior to 2015 for Australia and Canada.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has NOL carryforwards totaling &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$58.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, primarily comprised of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$49.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of federal and state NOLs as a result of the acquisition of Peak Resorts in September 2019 that will expire beginning July 31, 2032, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of historical state NOLs that will expire by July 31, 2032 and non-U.S. NOLs of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; that will carry forward indefinitely. In connection with Peak Resorts&#x2019; initial public offering in November 2014, as well as the Company&#x2019;s acquisition of Peak Resorts in September 2019, Peak Resorts had two ownership changes pursuant to the provisions of the Tax Reform Act of 1986. As a result, the Company&#x2019;s usage of its eligible Federal NOL carryforwards will be limited each year by these ownership changes; however, management believes the full benefit of those carryforwards will be realized prior to their respective expiration dates. As of July&#160;31, 2020, the Company has recorded a valuation allowance on &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$3.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of the historical non-U.S. NOL carryforwards, as the Company has determined that it is more likely than not that the associated NOL carryforwards will not be realized. Additionally, the Company has foreign tax credit carryforwards of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, which expire by the year ending July 31, 2028. As of July&#160;31, 2020, the Company has recorded a valuation allowance of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$4.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; on foreign tax credit carryforwards, as the Company has determined that it is more likely than not that these foreign tax credit carryforwards will not be realized.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company may be required to record additional valuation allowances if, among other things, adverse economic conditions, including those caused by the COVID-19 pandemic, negatively impact the Company&#x2019;s ability to realize its deferred tax assets. Evaluating and estimating the Company&#x2019;s tax provision, current and deferred tax assets and liabilities and other tax accruals requires significant management judgment. The Company intends to indefinitely reinvest undistributed earnings, if any, in its Canadian foreign subsidiaries.  It is not practical at this time to determine the income tax liability related to any remaining undistributed earnings.&lt;/span&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <mtn:Netoperatinglosscarryback
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e691-wk-Fact-91D3BE6F692AC2724965A2F1FFE24009"
      unitRef="usd">3800000</mtn:Netoperatinglosscarryback>
    <mtn:USRefundablePayrollTaxCredits
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e712-wk-Fact-EE9FC8F08B7CE6F0F42497E355B6EE8C"
      unitRef="usd">9600000</mtn:USRefundablePayrollTaxCredits>
    <mtn:ForeignRefundablePayrollTaxCredits
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e719-wk-Fact-11357A685CB00C79B7AA98A3FAB78848"
      unitRef="usd">8500000</mtn:ForeignRefundablePayrollTaxCredits>
    <us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B90B43E96FE92DB0943B5D5D91E11DE4-0-wk-Fact-901E172B7F86EBCDFA335D5D91819F94">&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S. and foreign components of income before (provision) benefit from income taxes is as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;89,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;306,323&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;264,379&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;26,595&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;92,642&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,713&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income before income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;116,433&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;398,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,092&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e867-wk-Fact-0AD44C0CCCA3FE8894A35D5D916F53C0"
      unitRef="usd">89838000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e881-wk-Fact-04B5F936010F9FB0CAB55D5D9181C8C2"
      unitRef="usd">306323000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e895-wk-Fact-4E90CD28BB28E6E71D3C5D5D917956C3"
      unitRef="usd">264379000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e910-wk-Fact-C5CEAB3F2BCE5AD4A8205D5D9179F619"
      unitRef="usd">26595000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e924-wk-Fact-90E40922D2F45B7C4F725D5D9165234D"
      unitRef="usd">92642000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e938-wk-Fact-92E646C949739D5C4DE85D5D916C158C"
      unitRef="usd">75713000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e963-wk-Fact-756645D8117770BB55375D5D915F0503"
      unitRef="usd">116433000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e977-wk-Fact-DC822A4048131078A3295D5D91772D4B"
      unitRef="usd">398965000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e991-wk-Fact-5AC3F6673081EAEB5ADF5D5D9170DF73"
      unitRef="usd">340092000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
    <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-63C007DD8D56734470785D5D91E1CF86-0-wk-Fact-C446DD6191FA60F311D65D5D90CCE10E">Significant components of the Company&#x2019;s deferred tax liabilities and assets are as follows (in thousands):&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:68%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax liabilities:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Fixed assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;216,016&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;153,182&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Intangible assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86,509&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;73,146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease right of use assets&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,727&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,709&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,425&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;369,961&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;239,753&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax assets:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Canyons obligation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;14,997&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Stock-based compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,313&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,620&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Investment in Partnerships&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,400&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,281&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred compensation and other accrued benefits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,918&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,674&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Contingent Consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,468&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,771&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Unfavorable lease obligation, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;285&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,896&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net operating loss carryforwards and other tax credits&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;13,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,631&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Operating lease liabilities&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;60,838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,427&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,850&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;147,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;83,645&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Valuation allowance for deferred income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(5,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(5,365&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax assets, net of valuation allowance&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;142,521&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,280&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;227,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,473&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
    <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1159-wk-Fact-C13E720B0F9E6420271A5D5D91BECE74"
      unitRef="usd">216016000</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
    <us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1173-wk-Fact-55873309CEF9A0E9C5925D5D914C69F6"
      unitRef="usd">153182000</us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment>
    <us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1188-wk-Fact-91FB56A1527F579B781B5D5D915682E7"
      unitRef="usd">86509000</us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets>
    <us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1202-wk-Fact-399A2F1502B22DAEF1565D5D91C1A4B1"
      unitRef="usd">73146000</us-gaap:DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets>
    <us-gaap:DeferredTaxLiabilitiesLeasingArrangements
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1222-wk-Fact-DCAADFEB2678A78D1CB180C4948E7AF1"
      unitRef="usd">53727000</us-gaap:DeferredTaxLiabilitiesLeasingArrangements>
    <us-gaap:DeferredTaxLiabilitiesLeasingArrangements
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1236-wk-Fact-035E75AE507A282652CD80C494889C62"
      unitRef="usd">0</us-gaap:DeferredTaxLiabilitiesLeasingArrangements>
    <us-gaap:DeferredTaxLiabilitiesOther
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1256-wk-Fact-E48E03E26B0750C1A9B85D5D913294F4"
      unitRef="usd">13709000</us-gaap:DeferredTaxLiabilitiesOther>
    <us-gaap:DeferredTaxLiabilitiesOther
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1270-wk-Fact-D5CFAC41CB53C6F94A925D5D914FEF08"
      unitRef="usd">13425000</us-gaap:DeferredTaxLiabilitiesOther>
    <us-gaap:DeferredIncomeTaxLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1290-wk-Fact-ABE5242FAA4CE1DD7B7E5D5D91C0C8AC"
      unitRef="usd">369961000</us-gaap:DeferredIncomeTaxLiabilities>
    <us-gaap:DeferredIncomeTaxLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1304-wk-Fact-85EBA9A4D921474EC6FA5D5D914E551E"
      unitRef="usd">239753000</us-gaap:DeferredIncomeTaxLiabilities>
    <mtn:DeferredTaxAssetCanyonsObligation
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1360-wk-Fact-DF7E25017E103A3B9ABF5D5D91577189"
      unitRef="usd">14997000</mtn:DeferredTaxAssetCanyonsObligation>
    <mtn:DeferredTaxAssetCanyonsObligation
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1374-wk-Fact-3039F734D8C46B1621BC5D5D9131B336"
      unitRef="usd">13922000</mtn:DeferredTaxAssetCanyonsObligation>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1394-wk-Fact-4F53DD6F4A91BFA135595D5D91383159"
      unitRef="usd">10313000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1408-wk-Fact-7BDCA83245021D95B5F55D5D9144598D"
      unitRef="usd">9620000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost>
    <us-gaap:DeferredTaxAssetsInvestments
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1429-wk-Fact-6DAEB8D225EB110048565D5D914DB8A2"
      unitRef="usd">12400000</us-gaap:DeferredTaxAssetsInvestments>
    <us-gaap:DeferredTaxAssetsInvestments
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1443-wk-Fact-D7873950BD6FA76534AD5D5D912E0EF1"
      unitRef="usd">13281000</us-gaap:DeferredTaxAssetsInvestments>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1463-wk-Fact-E2C3D3D6F8EDC1524F885D5D913DA5C3"
      unitRef="usd">9918000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1477-wk-Fact-30A610A378380E7382B35D5D915522DF"
      unitRef="usd">10674000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1497-wk-Fact-66D37AEB392A81E9E2D35D5D913B377C"
      unitRef="usd">4468000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies>
    <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1511-wk-Fact-DBA958BC45688ADFADEA5D5D91C15063"
      unitRef="usd">6771000</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies>
    <mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1531-wk-Fact-0B59C1469A0CFCD3B7765D5D915775AC"
      unitRef="usd">285000</mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation>
    <mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1545-wk-Fact-DE277582A94AF3E34EDA5D5D914D7FE2"
      unitRef="usd">4896000</mtn:DeferredIncomeTaxAssetUnfavourableLeaseObligation>
    <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1565-wk-Fact-7336D21E36F57BF7D7385D5D9130C722"
      unitRef="usd">13205000</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
    <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1579-wk-Fact-CD4968C57DCB406875E85D5D914E12E7"
      unitRef="usd">5631000</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
    <mtn:DeferredTaxAssetsOperatingLeaseLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1599-wk-Fact-270A48C5FC56B6C924C080C77FEFDCD6"
      unitRef="usd">60838000</mtn:DeferredTaxAssetsOperatingLeaseLiabilities>
    <mtn:DeferredTaxAssetsOperatingLeaseLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1613-wk-Fact-8B2626E8D8FF4AFE459080C77FE82A4A"
      unitRef="usd">0</mtn:DeferredTaxAssetsOperatingLeaseLiabilities>
    <us-gaap:DeferredTaxAssetsOther
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1633-wk-Fact-6D5EA898BC466B9A25615D5D91527D34"
      unitRef="usd">21427000</us-gaap:DeferredTaxAssetsOther>
    <us-gaap:DeferredTaxAssetsOther
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1647-wk-Fact-424319F0565C453001D85D5D9153AC7C"
      unitRef="usd">18850000</us-gaap:DeferredTaxAssetsOther>
    <us-gaap:DeferredTaxAssetsGross
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1667-wk-Fact-87067A7B9291411E3B755D5D91C18D82"
      unitRef="usd">147851000</us-gaap:DeferredTaxAssetsGross>
    <us-gaap:DeferredTaxAssetsGross
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1681-wk-Fact-149F46DB318AF86F275B5D5D912F1185"
      unitRef="usd">83645000</us-gaap:DeferredTaxAssetsGross>
    <us-gaap:DeferredTaxAssetsValuationAllowance
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1701-wk-Fact-D421FCE9C8AC7DD72FEC5D5D912ECE08"
      unitRef="usd">5330000</us-gaap:DeferredTaxAssetsValuationAllowance>
    <us-gaap:DeferredTaxAssetsValuationAllowance
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1716-wk-Fact-1B049D97A7579F339DF15D5D91C1E048"
      unitRef="usd">5365000</us-gaap:DeferredTaxAssetsValuationAllowance>
    <us-gaap:DeferredTaxAssetsNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1737-wk-Fact-C6EADCD3A60C03F376B35D5D91583527"
      unitRef="usd">142521000</us-gaap:DeferredTaxAssetsNet>
    <us-gaap:DeferredTaxAssetsNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1751-wk-Fact-826038BE054113900D805D5D91506244"
      unitRef="usd">78280000</us-gaap:DeferredTaxAssetsNet>
    <us-gaap:DeferredTaxLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1776-wk-Fact-FF8537385D2E28EE194E5D5D90CD8F7B"
      unitRef="usd">227440000</us-gaap:DeferredTaxLiabilities>
    <us-gaap:DeferredTaxLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1790-wk-Fact-7ADEBEF660403A05A6ED5D5D91506C81"
      unitRef="usd">161473000</us-gaap:DeferredTaxLiabilities>
    <mtn:BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-8579D19311C003DCA96F5D5D91E2AA90-0-wk-Fact-25E77C577634520E58B15D5D9178E3B7">&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:60%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax asset&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,751&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,286&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;234,191&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;168,759&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net deferred income tax liability&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;227,440&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,473&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</mtn:BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock>
    <us-gaap:DeferredIncomeTaxAssetsNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1918-wk-Fact-39F2364480F59D4F4D955D5D91842F42"
      unitRef="usd">6751000</us-gaap:DeferredIncomeTaxAssetsNet>
    <us-gaap:DeferredIncomeTaxAssetsNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1932-wk-Fact-E35CECE7D10CB9F4DA4A5D5D918736E9"
      unitRef="usd">7286000</us-gaap:DeferredIncomeTaxAssetsNet>
    <us-gaap:DeferredIncomeTaxLiabilitiesNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1947-wk-Fact-114304C0B2E26A31E5DF5D5D90FBA196"
      unitRef="usd">234191000</us-gaap:DeferredIncomeTaxLiabilitiesNet>
    <us-gaap:DeferredIncomeTaxLiabilitiesNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e1961-wk-Fact-E1319DA49E4F72A375295D5D910AA429"
      unitRef="usd">168759000</us-gaap:DeferredIncomeTaxLiabilitiesNet>
    <us-gaap:DeferredTaxLiabilities
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e1986-wk-Fact-FF8537385D2E28EE194E5D5D90CD8F7B"
      unitRef="usd">227440000</us-gaap:DeferredTaxLiabilities>
    <us-gaap:DeferredTaxLiabilities
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e2000-wk-Fact-7ADEBEF660403A05A6ED5D5D91506C81"
      unitRef="usd">161473000</us-gaap:DeferredTaxLiabilities>
    <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B9C46724F5A0A18D86365D5D91E23F56-0-wk-Fact-70E970705844711568C85D5D91864101">&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Significant components of the provision (benefit) from income taxes are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Current:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Federal&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(13,467&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;24,309&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(43,366&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(731&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,539&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,562&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,141&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;20,205&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18,436&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total current&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(10,057&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;53,053&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(15,368&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Deferred:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Federal&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,597&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,983&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(45,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,266&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,282&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,941&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;572&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;154&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,789&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total deferred&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;17,435&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,419&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(45,770&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,472&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
    <us-gaap:CurrentFederalTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2222-wk-Fact-BF1023BF7F51C993B7D95D5D9186F4A0"
      unitRef="usd">-13467000</us-gaap:CurrentFederalTaxExpenseBenefit>
    <us-gaap:CurrentFederalTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2237-wk-Fact-2E98D6F44AE914054FC35D5D9171BEA7"
      unitRef="usd">24309000</us-gaap:CurrentFederalTaxExpenseBenefit>
    <us-gaap:CurrentFederalTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2251-wk-Fact-6115AFCF93348A23C0465D5D9175425F"
      unitRef="usd">-43366000</us-gaap:CurrentFederalTaxExpenseBenefit>
    <us-gaap:CurrentStateAndLocalTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2267-wk-Fact-2E48FA5012C50A59A4305D5D9178DC48"
      unitRef="usd">-731000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
    <us-gaap:CurrentStateAndLocalTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2282-wk-Fact-DF45AEA9FF3C8D307D445D5D916E7979"
      unitRef="usd">8539000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
    <us-gaap:CurrentStateAndLocalTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2296-wk-Fact-7E987BC3437CD308FAD75D5D9179FC72"
      unitRef="usd">9562000</us-gaap:CurrentStateAndLocalTaxExpenseBenefit>
    <us-gaap:CurrentForeignTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2316-wk-Fact-30EFD3D7302035B190855D5D9182F11B"
      unitRef="usd">4141000</us-gaap:CurrentForeignTaxExpenseBenefit>
    <us-gaap:CurrentForeignTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2330-wk-Fact-8AE18CEFBC1F8BEE298D5D5D91739FB4"
      unitRef="usd">20205000</us-gaap:CurrentForeignTaxExpenseBenefit>
    <us-gaap:CurrentForeignTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2344-wk-Fact-FE692AE8928D8A88B8895D5D9187A535"
      unitRef="usd">18436000</us-gaap:CurrentForeignTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2364-wk-Fact-B1A9ED16805AB85709825D5D9178BD5E"
      unitRef="usd">-10057000</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2379-wk-Fact-CD68747408925269534C5D5D915AC062"
      unitRef="usd">53053000</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2393-wk-Fact-06023FAC6877742064455D5D918B1E8C"
      unitRef="usd">-15368000</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:DeferredFederalIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2465-wk-Fact-F1C34F62D155FA02FC335D5D91751D9E"
      unitRef="usd">12597000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredFederalIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2479-wk-Fact-A7F4C7B9A726B4A408125D5D9177E1BD"
      unitRef="usd">16983000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredFederalIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2493-wk-Fact-81CD6467EB4E5E5E1D735D5D91658544"
      unitRef="usd">-45922000</us-gaap:DeferredFederalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2514-wk-Fact-9EB07DCE64D1FD3128435D5D9188803C"
      unitRef="usd">4266000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2528-wk-Fact-D763487E559446A53BFC5D5D918A891B"
      unitRef="usd">5282000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2542-wk-Fact-01DACC8085FDC18316315D5D917AC80C"
      unitRef="usd">2941000</us-gaap:DeferredStateAndLocalIncomeTaxExpenseBenefit>
    <us-gaap:DeferredForeignIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2562-wk-Fact-E4E324407CED605901F85D5D917527EF"
      unitRef="usd">572000</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
    <us-gaap:DeferredForeignIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2576-wk-Fact-F5BEF11D9B164AEBF55E5D5D916E5D4D"
      unitRef="usd">154000</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
    <us-gaap:DeferredForeignIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2590-wk-Fact-0568FF68389C9ED72BC55D5D91770F75"
      unitRef="usd">-2789000</us-gaap:DeferredForeignIncomeTaxExpenseBenefit>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2612-wk-Fact-7877822F15C46F7E87385D5D9132C8E5"
      unitRef="usd">17435000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2626-wk-Fact-B7ED194DE7ACC74EC7D25D5D914FCCCB"
      unitRef="usd">22419000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:DeferredIncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2640-wk-Fact-58B11254C90EA7781CDB5D5D913F22AA"
      unitRef="usd">-45770000</us-gaap:DeferredIncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e2666-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56"
      unitRef="usd">7378000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e2680-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895"
      unitRef="usd">75472000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e2694-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7"
      unitRef="usd">-61138000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-00279792D41ECDC8761F5D5D91E28E38-0-wk-Fact-EFEEC8C847E4D7CC07F95D5D91765885">&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A reconciliation of the income tax provision (benefit) from continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="7"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;At U.S. federal income tax rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;26.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;State income tax, net of federal benefit&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in uncertain tax positions&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.6&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in valuation allowance&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Excess tax benefits related to stock-based compensation&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(7.1&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(20.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Impacts of the Tax Act and other legislative changes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.2&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(24.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Noncontrolling interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign rate differential&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.4&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1.5&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.8&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;0.7&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Effective tax rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6.3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;18.9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18.0&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
    <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e2825-wk-Fact-C8DE4BF263DD928ABA625D5D917C54D6"
      unitRef="number">0.210</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
    <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e2835-wk-Fact-8E77E7983362F28DDBDB5D5D91881E22"
      unitRef="number">0.210</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
    <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e2845-wk-Fact-3FA83FD5F87C59F2FEBC5D5D9190353B"
      unitRef="number">0.268</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
    <us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e2861-wk-Fact-5BC8FC20361AC7482C4E5D5D917CFF7B"
      unitRef="number">0.035</us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
    <us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e2871-wk-Fact-5795322B5A7EB457FF015D5D9182A6DC"
      unitRef="number">0.028</us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
    <us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e2881-wk-Fact-310AEF5F5AFE91F9CA595D5D919EEC13"
      unitRef="number">0.030</us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes>
    <us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e2897-wk-Fact-048ADC3F36FBA45076255D5D917CB1A1"
      unitRef="number">0.038</us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther>
    <us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e2907-wk-Fact-9A5D18DE2E7A2E48744A80C84AF98B19"
      unitRef="number">0.016</us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther>
    <us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e2917-wk-Fact-BC86F4AAE3EBC5684B4A80C84B9BBEDB"
      unitRef="number">0</us-gaap:EffectiveIncomeTaxRateReconciliationTaxCreditsOther>
    <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e2933-wk-Fact-CC36B4B643AF16180B945D5D917B3E8C"
      unitRef="number">0</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
    <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e2943-wk-Fact-E33FB63F33C352D429075D5D91735AD4"
      unitRef="number">0</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
    <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e2953-wk-Fact-F833834B506FA7E9331E5D5D918FDF03"
      unitRef="number">0.003</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
    <us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e2969-wk-Fact-08BCF742A3C2695041E95D5D917EC7C0"
      unitRef="number">-0.071</us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent>
    <us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e2979-wk-Fact-5CCE45346E27B941C86F5D5D917FBD22"
      unitRef="number">-0.030</us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent>
    <us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e2989-wk-Fact-98A9261ACBC26571A6E880C8E3326109"
      unitRef="number">-0.209</us-gaap:EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent>
    <mtn:ImpactofTaxReformonRate
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e3005-wk-Fact-5966EDDBF394643E651E5D5D91781049"
      unitRef="number">-0.032</mtn:ImpactofTaxReformonRate>
    <mtn:ImpactofTaxReformonRate
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e3015-wk-Fact-72769B6FE1A972BA71D75D5D91724EFD"
      unitRef="number">0</mtn:ImpactofTaxReformonRate>
    <mtn:ImpactofTaxReformonRate
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e3025-wk-Fact-C0BF44527BCFEDFD995580C8E3A502BD"
      unitRef="number">-0.247</mtn:ImpactofTaxReformonRate>
    <us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e3041-wk-Fact-CEBE3BC3060258F806DD5D5D917F615B"
      unitRef="number">-0.024</us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense>
    <us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e3051-wk-Fact-E2AD437F350A26C143C55D5D917F538F"
      unitRef="number">-0.015</us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense>
    <us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e3061-wk-Fact-C7FEA762B60D012747DE5D5D917917D1"
      unitRef="number">-0.017</us-gaap:EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense>
    <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e3077-wk-Fact-C9208C3E89F7E1DEFDBF5D5D917EE5F7"
      unitRef="number">-0.024</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
    <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e3087-wk-Fact-FBCAFADED7BDC34D4D425D5D917C340C"
      unitRef="number">0.004</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
    <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e3097-wk-Fact-517818CBD4E21CE23A965D5D917D582B"
      unitRef="number">-0.015</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
    <us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e3113-wk-Fact-FAB1A6523872D345D05A5D5D917EAED6"
      unitRef="number">0.007</us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
    <us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e3123-wk-Fact-BA97832CB281215E36035D5D91842D69"
      unitRef="number">0.008</us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
    <us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e3133-wk-Fact-14E3547551D18FDC0AE25D5D918C43C8"
      unitRef="number">0.007</us-gaap:EffectiveIncomeTaxRateReconciliationOtherAdjustments>
    <us-gaap:EffectiveIncomeTaxRateContinuingOperations
      contextRef="FD2020Q4YTD"
      decimals="3"
      id="d5445853e3150-wk-Fact-63DFD611381F94D2BB845D5D9191F7C4"
      unitRef="number">0.063</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
    <us-gaap:EffectiveIncomeTaxRateContinuingOperations
      contextRef="FD2019Q4YTD"
      decimals="3"
      id="d5445853e3160-wk-Fact-5A4B3F4F1CF1907095235D5D917D1CCB"
      unitRef="number">0.189</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
    <us-gaap:EffectiveIncomeTaxRateContinuingOperations
      contextRef="FD2018Q4YTD"
      decimals="3"
      id="d5445853e3170-wk-Fact-79ED239237C8629613255D5D9176E16F"
      unitRef="number">-0.180</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
    <us-gaap:SummaryOfIncomeTaxContingenciesTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-95EF82938C56AED6207C5D5D91E1343C-0-wk-Fact-DC0BC7B0A320685E6B325D5D917465C2">&lt;div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance, beginning of year&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,242&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;76,111&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Additions for tax positions of prior years&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;16,654&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;11,520&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12,394&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;padding-left:12px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lapse of statute of limitations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(18,577&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(17,540&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(10,263&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Balance, end of year&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;70,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;72,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;78,242&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:SummaryOfIncomeTaxContingenciesTextBlock>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e3338-wk-Fact-306C264ED007C4FCF7835D5D9184FD50"
      unitRef="usd">72222000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5445853e3352-wk-Fact-D39BE897D8651B64B16B5D5D918CFBF6"
      unitRef="usd">78242000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2017Q4"
      decimals="-3"
      id="d5445853e3366-wk-Fact-729DA7DFC29EB9F1A6AD5D5D918294D2"
      unitRef="usd">76111000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e3381-wk-Fact-BED60B12BEA557D16EA75D5D91978528"
      unitRef="usd">16654000</us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions>
    <us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e3395-wk-Fact-20251D7550F048D7694E5D5D919C9D5A"
      unitRef="usd">11520000</us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions>
    <us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e3409-wk-Fact-12DD504999DED70726955D5D9196EC63"
      unitRef="usd">12394000</us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions>
    <us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5445853e3429-wk-Fact-7D4C7DC5501BFE44C9EE5D5D918EF6D5"
      unitRef="usd">18577000</us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations>
    <us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5445853e3444-wk-Fact-B4C25586140ACE864FD85D5D9195A8CC"
      unitRef="usd">17540000</us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations>
    <us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5445853e3459-wk-Fact-883E0992664A776387025D5D918B0031"
      unitRef="usd">10263000</us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5445853e3485-wk-Fact-906CA368A2CD04A3AF8A5D5D9193BDC9"
      unitRef="usd">70299000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5445853e3499-wk-Fact-306C264ED007C4FCF7835D5D9184FD50"
      unitRef="usd">72222000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefits
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5445853e3513-wk-Fact-D39BE897D8651B64B16B5D5D918CFBF6"
      unitRef="usd">78242000</us-gaap:UnrecognizedTaxBenefits>
    <us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
      contextRef="FD2020Q4YTD_us-gaap_IncomeTaxAuthorityAxis_us-gaap_InterestExpenseMember"
      decimals="-3"
      id="d5445853e3545-wk-Fact-B6E86351E06A6C4E88D85D5D918D052E"
      unitRef="usd">18600000</us-gaap:UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations>
    <us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e3549-wk-Fact-276FDE413E5700C80ABF5D5D918BB1E6"
      unitRef="usd">16700000</us-gaap:UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions>
    <us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e3553-wk-Fact-F0D52595CE1AC7461C715D5D91849D18"
      unitRef="usd">3100000</us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense>
    <us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5445853e3557-wk-Fact-B313EFBF05BF80AC9A7F80CA5499236C"
      unitRef="usd">6200000</us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued>
    <us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
      contextRef="FI2019Q4"
      decimals="-5"
      id="d5445853e3561-wk-Fact-46DA81E20C3ECAFD67B85D5D91797005"
      unitRef="usd">6300000</us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued>
    <us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e3566-wk-Fact-CEF535A5BD05FBAE777D80CACA9B41A2"
      unitRef="usd">100000</us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense>
    <us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5445853e3570-wk-Fact-B8F9AC597CA5967D599F5D5D91800276"
      unitRef="usd">1100000</us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense>
    <us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5445853e3574-wk-Fact-22BAFB46104DAD2F43D85D5D91951B05"
      unitRef="usd">1600000</us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense>
    <us-gaap:OperatingLossCarryforwards
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5445853e3589-wk-Fact-F9F954BB4F9C1160993897E4B43F21A6"
      unitRef="usd">58600000</us-gaap:OperatingLossCarryforwards>
    <us-gaap:OperatingLossCarryforwards
      contextRef="FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member"
      decimals="-5"
      id="d5445853e3593-wk-Fact-A24AAB7DB42100D6E2C8A2F36D4E8C41"
      unitRef="usd">49800000</us-gaap:OperatingLossCarryforwards>
    <us-gaap:OperatingLossCarryforwards
      contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_country_US"
      decimals="-5"
      id="d5445853e3597-wk-Fact-928FBAE3C0B2FA75D6EEA2F3834CC05E"
      unitRef="usd">4900000</us-gaap:OperatingLossCarryforwards>
    <us-gaap:OperatingLossCarryforwards
      contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_ForeignCountryMember"
      decimals="-5"
      id="d5445853e3601-wk-Fact-32ABEA924DFC8C4D71BBA2F3922A0DC4"
      unitRef="usd">3900000</us-gaap:OperatingLossCarryforwards>
    <us-gaap:OperatingLossCarryforwardsValuationAllowance
      contextRef="FI2020Q4_us-gaap_IncomeTaxAuthorityAxis_us-gaap_StateAndLocalJurisdictionMember"
      decimals="-5"
      id="d5445853e3605-wk-Fact-EB8FD502C75A022417C45D5D917D4104"
      unitRef="usd">3900000</us-gaap:OperatingLossCarryforwardsValuationAllowance>
    <us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsForeign
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5445853e3610-wk-Fact-D527987FF20F47C6494D5D5D9189B61D"
      unitRef="usd">4200000</us-gaap:DeferredTaxAssetsTaxCreditCarryforwardsForeign>
    <us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5445853e3614-wk-Fact-73F9A7A50D6D5B22C5535D5D917801F8"
      unitRef="usd">4200000</us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount>
    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-ECF196DD6218B2DAD13F5D5D91E24144-0-wk-Fact-219A39F40651F0F478515D5D915D132A">Related Party Transactions&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has the right to appoint &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;four&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;nine&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; directors of the Beaver Creek Resort Company of Colorado (&#x201c;BCRC&#x201d;), a non-profit entity formed for the benefit of property owners and certain others in Beaver Creek. The Company has a management agreement with the BCRC, renewable for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;one-year&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; periods, to provide management services on a fixed fee basis. Management fees and reimbursement of operating expenses paid to the Company under its agreement with the BCRC during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; were &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$8.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <mtn:RightToAppointNumberOfDirectors
      contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember"
      decimals="INF"
      id="d5445015e680-wk-Fact-BA51AC5DB54C72CF6AD05D5D91624F52"
      unitRef="director">4</mtn:RightToAppointNumberOfDirectors>
    <mtn:NumberOfDirectors
      contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember"
      decimals="INF"
      id="d5445015e684-wk-Fact-9597CE995FE1F7A3BD3A5D5D91594235"
      unitRef="director">9</mtn:NumberOfDirectors>
    <us-gaap:RelatedPartyTransactionAmountsOfTransaction
      contextRef="FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember"
      decimals="-5"
      id="d5445015e705-wk-Fact-27DAB6BBC26291F6195C5D5D915F5FF6"
      unitRef="usd">8300000</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
    <us-gaap:RelatedPartyTransactionAmountsOfTransaction
      contextRef="FD2019Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember"
      decimals="-5"
      id="d5445015e709-wk-Fact-69C95F949A2584C5DB635D5D91598B24"
      unitRef="usd">9600000</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
    <us-gaap:RelatedPartyTransactionAmountsOfTransaction
      contextRef="FD2018Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember"
      decimals="-5"
      id="d5445015e713-wk-Fact-6381088329F722C404325D5D915D7D71"
      unitRef="usd">9200000</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-E17F559E145A3BD93A885D5D91E21B98-0-wk-Fact-5E8FB2CA2C453F48B0EE5D5D91B66315">Commitments and Contingencies&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Metropolitan Districts&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company credit-enhances &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of bonds issued by Holland Creek Metropolitan District (&#x201c;HCMD&#x201d;) through a &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; letter of credit issued under the Vail Holdings Credit Agreement. HCMD&#x2019;s bonds were issued and used to build infrastructure associated with the Company&#x2019;s Red Sky Ranch residential development. The Company has agreed to pay capital improvement fees to Red Sky Ranch Metropolitan District (&#x201c;RSRMD&#x201d;) until RSRMD&#x2019;s revenue streams from property taxes are sufficient to meet debt service requirements under HCMD&#x2019;s bonds. The Company recorded a liability of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, primarily within other long-term liabilities in the accompanying Consolidated Balance Sheets, as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates that it will make capital improvement fee payments under this arrangement through the year ending &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&lt;span style="white-space:nowrap"&gt;July 31, 2031&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Guarantees/Indemnifications&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company had various other letters of credit outstanding totaling &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$75.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, consisting of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$53.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; to support the Employee Housing Bonds and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$22.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; primarily for workers&#x2019; compensation, a wind energy purchase agreement and insurance-related deductibles. The Company also had surety bonds of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, primarily to provide collateral for its U.S. workers compensation self-insurance programs.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business that include certain indemnifications under which it could be required to make payments to third parties upon the occurrence or non-occurrence of certain future events. These indemnities include indemnities related to licensees in connection with third-parties&#x2019; use of the Company&#x2019;s trademarks and logos, liabilities associated with the infringement of other parties&#x2019; technology and software products, liabilities associated with the use of easements, liabilities associated with employment of contract workers and the Company&#x2019;s use of trustees, and liabilities associated with the Company&#x2019;s use of public lands and environmental matters. The duration of these indemnities generally is indefinite and generally do not limit the future payments the Company could be obligated to make.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As permitted under applicable law, the Company and certain of its subsidiaries have agreed to indemnify their directors and officers over their lifetimes for certain events or occurrences while the officer or director is, or was, serving the Company or its subsidiaries in such a capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that should enable the Company to recover a portion of any amounts paid.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Unless otherwise noted, the Company has not recorded any significant liabilities for the letters of credit, indemnities and other guarantees noted above in the accompanying Consolidated Financial Statements, either because the Company has recorded on its Consolidated Balance Sheets the underlying liability associated with the guarantee, the guarantee is with respect to the Company&#x2019;s own performance and is therefore not subject to the measurement requirements as prescribed by GAAP, or because the Company has calculated the estimated fair value of the indemnification or guarantee to be immaterial based on the current facts and circumstances that would trigger a payment under the indemnification clause. In addition, with respect to certain indemnifications it is not possible to determine the maximum potential amount of liability under these potential obligations due to the unique set of facts and circumstances likely to be involved in each particular claim and indemnification provision. Historically, payments made by the Company under these obligations have not been material.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As noted above, the Company makes certain indemnifications to licensees for their use of the Company&#x2019;s trademarks and logos. The Company does not record any liabilities with respect to these indemnifications.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Commitments&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The operations of Northstar are conducted on land and with operating assets owned by affiliates of EPR Properties, a real-estate investment trust, primarily under operating leases which were assumed in the acquisition of Northstar by the Company. The leases provide for the payment of a minimum annual base rent over the lease term which is recognized on a straight-line basis over the remaining lease term from the date of assumption. In addition, the leases provide for the payment of percentage rent of certain gross revenues generated at the property over a revenue threshold which is incrementally adjusted annually. The initial term of the leases expires in fiscal &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2027&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and allows for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;three&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;-year extensions at the Company&#x2019;s option. The operations of Perisher are conducted on land under a license and lease granted by the Office of Environment and Heritage, an agency of the New South Wales government, which initially commenced in 2008, and which the Company assumed in its acquisition of Perisher. The lease and license has a term that expires in fiscal &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2048&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and allows for an option to renew for an additional &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;20 years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The lease and license provide for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt; of certain gross revenue&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; generated at the property. The operations of Falls Creek and Hotham are conducted on land under leases granted by the Governor of the State of Victoria, Australia and its dependencies, which initially commenced in 1991 and 1992, respectively, which the Company assumed in its acquisition of Falls Creek and Hotham in April 2019. The leases have terms that expire in fiscal &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2041&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for Falls Creek and fiscal &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2058&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for Hotham, and provide for the payment of rent with both a fixed and variable component. The operations of Mad River Mountain is conducted on land under a lease granted by EPT Mad River, Inc., which initially commenced in 2005, which the Company assumed in its acquisition of Peak Resorts in September 2019. The lease has a term that expires in the year ending July 31, 2035, and provides for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent of certain gross revenue generated at the property. Additionally, the Company has entered into strategic long-term season pass alliance agreements with third-party mountain resorts in which the Company has committed to pay minimum revenue guarantees over the remaining terms of these agreements.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has executed or assumed as lessee other operating leases for the rental of office and commercial space, employee residential units and land primarily through fiscal &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2079&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Certain of these leases have renewal terms at the Company&#x2019;s option, escalation clauses, rent holidays and leasehold improvement incentives. Rent holidays and rent escalation clauses are recognized on a straight-line basis over the lease term. Leasehold improvement incentives are recorded as leasehold improvements and amortized over the shorter of their economic lives or the term of the lease. For the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company recorded lease expense (including Northstar, Perisher, Falls Creek &amp;amp; Hotham and Mad River Mountain), excluding executory costs, related to these agreements of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$58.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$57.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$52.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, which is included in the accompanying Consolidated Statements of Operations. See Note 4 &#x201c;Leases&#x201d; for additional information regarding the Company&#x2019;s leasing arrangements.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Self Insurance&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company is self-insured for claims under its U.S. health benefit plans and for the majority of workers&#x2019; compensation claims in the U.S. Workers compensation claims in the U.S. are subject to stop loss policies. The self-insurance liability related to workers&#x2019; compensation is determined actuarially based on claims filed. The self-insurance liability related to claims under the Company&#x2019;s U.S. health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of accrued benefits in accounts payable and accrued liabilities (see Note 8, Supplementary Balance Sheet Information).&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Legal&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company is a party to various lawsuits arising in the ordinary course of business. Management believes the Company has adequate insurance coverage and/or has accrued for all loss contingencies for asserted and unasserted matters deemed to be probable losses and estimable. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the accruals for the above loss contingencies were not material individually or in the aggregate.&lt;/span&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <mtn:DebtInstrumentThirdPartyCreditEnhancements
      contextRef="FD2020Q4YTD_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember"
      decimals="-5"
      id="d5446025e683-wk-Fact-2623D7590F1BBBF257CA5D5D90D56668"
      unitRef="usd">6300000</mtn:DebtInstrumentThirdPartyCreditEnhancements>
    <us-gaap:LettersOfCreditOutstandingAmount
      contextRef="FI2020Q4_dei_LegalEntityAxis_mtn_HollandCreekMetropolitanDistrictMember"
      decimals="-5"
      id="d5446025e687-wk-Fact-32AD677E266E647066255D5D91B077A3"
      unitRef="usd">6400000</us-gaap:LettersOfCreditOutstandingAmount>
    <us-gaap:OtherLongTermDebt
      contextRef="FI2020Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember"
      decimals="-5"
      id="d5446025e691-wk-Fact-A89F175C84B49CFA4B3E5D5D90ECB72A"
      unitRef="usd">2100000</us-gaap:OtherLongTermDebt>
    <us-gaap:OtherLongTermDebt
      contextRef="FI2019Q4_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember"
      decimals="-5"
      id="d5446025e695-wk-Fact-DD737E445776EDCFCC3480CC3E126C54"
      unitRef="usd">2000000.0</us-gaap:OtherLongTermDebt>
    <mtn:EstimatedCessationDateOfCapitalImprovementFeePayments
      contextRef="FD2020Q4YTD_dei_LegalEntityAxis_mtn_RedSkyRanchMetropolitanDistrictMember"
      id="d5446025e708-wk-Fact-A2B666CD5DFAED1F31C75D5D90F646C1">2031-07-31</mtn:EstimatedCessationDateOfCapitalImprovementFeePayments>
    <us-gaap:LettersOfCreditOutstandingAmount
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5446025e722-wk-Fact-3040E8FB7ED611A036F25D5D90EAD20E"
      unitRef="usd">75500000</us-gaap:LettersOfCreditOutstandingAmount>
    <us-gaap:LettersOfCreditOutstandingAmount
      contextRef="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_EmployeeHousingBondsMember"
      decimals="-5"
      id="d5446025e726-wk-Fact-5F5775FCCEB4992EE3495D5D91A4EC83"
      unitRef="usd">53400000</us-gaap:LettersOfCreditOutstandingAmount>
    <us-gaap:LettersOfCreditOutstandingAmount
      contextRef="FI2020Q4_us-gaap_LossContingenciesByNatureOfContingencyAxis_mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember"
      decimals="-5"
      id="d5446025e730-wk-Fact-05CFDB1B04A98C8FB66E5D5D90EACE1E"
      unitRef="usd">22100000</us-gaap:LettersOfCreditOutstandingAmount>
    <mtn:SuretyBondsOutstanding
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5446025e734-wk-Fact-2D203837CA5B20E0A3905D5D91AE926C"
      unitRef="usd">9600000</mtn:SuretyBondsOutstanding>
    <mtn:NumberOfOptionalLeaseRenewalTerms
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5446025e765-wk-Fact-F6FC968D1B3BD144D1485D5D90CE6174"
      unitRef="number">3</mtn:NumberOfOptionalLeaseRenewalTerms>
    <mtn:OptionalLeaseRenewalTerm
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_NorthstarMember"
      id="d5446025e769-wk-Fact-755608D9C3470C44189F5D5D91A64C22">P10Y</mtn:OptionalLeaseRenewalTerm>
    <mtn:OptionalLeaseRenewalTerm
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember"
      id="d5446025e777-wk-Fact-2EAD663D5B7D685DE9485D5D90F5B2CB">P20Y</mtn:OptionalLeaseRenewalTerm>
    <mtn:DescriptionofPercentageRent
      contextRef="FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PerisherMember"
      id="d5446025e782-wk-Fact-1EF7A3E1B4F73C4B60905D5D90EBA1FC"> of certain gross revenue</mtn:DescriptionofPercentageRent>
    <us-gaap:LeaseAndRentalExpense
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5446025e814-wk-Fact-FB769B435BA85C458AC75D5D90EBB3B6"
      unitRef="usd">58800000</us-gaap:LeaseAndRentalExpense>
    <us-gaap:LeaseAndRentalExpense
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5446025e819-wk-Fact-759CA6B4F3BAB044937F5D5D90F4D163"
      unitRef="usd">57800000</us-gaap:LeaseAndRentalExpense>
    <us-gaap:LeaseAndRentalExpense
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5446025e823-wk-Fact-7D2B942BC43AA9BFA6C35D5D90EC26DE"
      unitRef="usd">52800000</us-gaap:LeaseAndRentalExpense>
    <us-gaap:SegmentReportingDisclosureTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-874C94A4F8A8B62DEF1F5D5D91E31913-0-wk-Fact-E086987FEE706FF9C3E75D5D91A6B3D3">Segment and Geographic Area Information&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Segment Information&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has three reportable segments: Mountain, Lodging and Real Estate. The Company refers to &#x201c;Resort&#x201d; as the combination of the Mountain and Lodging segments. The Mountain segment includes the operations of the Company&#x2019;s mountain resorts/ski areas and related ancillary activities. The Lodging segment includes the operations of the Company&#x2019;s owned hotels, RockResorts, NPS concessionaire properties, condominium management, Colorado resort ground transportation operations and mountain resort golf operations. The Real Estate segment owns, develops and sells real estate in and around the Company&#x2019;s resort communities. The Company&#x2019;s reportable segments, although integral to the success of the others, offer distinctly different products and services and require different types of management focus. As such, these segments are managed separately.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company reports its segment results using Reported EBITDA (defined as segment net revenue less segment operating expenses, plus or minus segment equity investment income or loss, and for the Real Estate segment, plus gain or loss on sale of real property). The Company reports segment results in a manner consistent with management&#x2019;s internal reporting of operating results to the chief operating decision maker (Chief Executive Officer) for purposes of evaluating segment performance.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Items excluded from Reported EBITDA are significant components in understanding and assessing financial performance. Reported EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, net change in cash and cash equivalents or other financial statement data presented in the Consolidated Financial Statements as indicators of financial performance or liquidity.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company utilizes Reported EBITDA in evaluating the performance of the Company and in allocating resources to its segments. Mountain Reported EBITDA consists of Mountain net revenue less Mountain operating expense plus or minus Mountain equity investment income or loss. Lodging Reported EBITDA consists of Lodging net revenue less Lodging operating expense. Real Estate Reported EBITDA consists of Real Estate net revenue less Real Estate operating expense plus gain or loss on sale of real property. All segment expenses include an allocation of corporate administrative expense. Assets are not used to evaluate performance, except as shown in the table below. The accounting policies specific to each segment are the same as those described in Note 2 &#x201c;Summary of Significant Accounting Policies.&#x201d;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lift&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;913,091&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,033,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;880,293&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Ski school&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,131&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,060&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,910&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;160,763&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;181,837&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Retail/rental&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;320,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;296,466&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;177,159&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;205,803&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;194,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Mountain net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,710,443&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,956,201&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,722,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;248,414&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,662&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;284,643&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,958,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,270,863&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,007,565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,847&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;712&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,988&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Segment operating expense:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,212,053&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,279,567&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,132,840&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;245,145&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;286,562&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;259,637&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort operating expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,457,198&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,566,129&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,392,477&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,182&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,609&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,546&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total segment operating expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,466,380&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,571,738&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,396,023&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Gain on sale of real property&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;207&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;580&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;515&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain equity investment income, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,690&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,960&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,523&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Reported EBITDA:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;500,080&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;678,594&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;591,605&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,269&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,100&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;25,006&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Resort&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;503,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;706,694&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;616,611&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,128&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,317&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;957&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Reported EBITDA&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;702,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;617,568&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real estate held for sale and investment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;96,844&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;101,021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;99,385&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to noncontrolling interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,332&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,055&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;323,493&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;401,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,472&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income before provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;116,433&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;398,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,092&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;249,572&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;218,117&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;204,462&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Asset impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,372&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(Gain) loss on disposal of fixed assets and other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;664&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,620&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in fair value of contingent consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,964&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,367&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,854&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Investment income and other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,305&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3,086&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,944&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign currency loss on intercompany loans&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,854&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,966&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest expense, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;106,721&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79,496&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,226&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Reported EBITDA&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;702,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;617,568&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Geographic Information&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.4140625%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,655,961&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,865,062&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,610,323&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;International &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;307,743&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;406,513&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;401,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,759,692&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,381,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;International &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;432,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;461,122&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,192,679&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,842,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(1) The only individual international country (i.e. except the U.S.) to account for more than 10% of the Company&#x2019;s revenue and property plant and equipment, net was Canada. Canada accounted for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$223.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$308.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$321.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of revenue for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, and for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$291.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$319.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of property, plant and equipment, net as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
    <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-8D9A2E68FC1367B77FBE5D5D91E320C6-0-wk-Fact-A05AD108F33D46EDD1245D5D919316F8">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net revenue:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lift&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;913,091&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,033,234&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;880,293&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Ski school&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,131&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215,060&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;189,910&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Dining&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;160,763&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;181,837&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;161,402&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Retail/rental&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;270,299&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;320,267&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;296,466&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;177,159&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;205,803&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;194,851&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Mountain net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,710,443&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,956,201&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,722,922&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;248,414&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;314,662&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;284,643&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,958,857&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,270,863&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,007,565&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,847&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;712&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,988&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Segment operating expense:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,212,053&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,279,567&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,132,840&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;245,145&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;286,562&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;259,637&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Resort operating expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,457,198&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,566,129&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,392,477&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;9,182&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,609&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,546&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total segment operating expense&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,466,380&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,571,738&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,396,023&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Gain on sale of real property&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;207&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;580&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;515&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain equity investment income, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,690&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,960&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,523&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Reported EBITDA:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Mountain&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;500,080&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;678,594&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;591,605&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Lodging&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,269&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,100&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;25,006&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Resort&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;503,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;706,694&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;616,611&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real Estate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,128&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(4,317&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;957&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Reported EBITDA&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;702,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;617,568&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Real estate held for sale and investment&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;96,844&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;101,021&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;99,385&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;379,898&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to noncontrolling interests&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;10,222&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;22,330&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;21,332&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,055&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;323,493&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;401,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,472&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(61,138&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income before provision (benefit) from income taxes&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;116,433&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;398,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;340,092&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;249,572&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;218,117&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;204,462&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Asset impairments&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;28,372&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;&#x2014;&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(Gain) loss on disposal of fixed assets and other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(838&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;664&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4,620&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Change in fair value of contingent consideration&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2,964&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5,367&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,854&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Investment income and other, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,305&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3,086&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,944&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Foreign currency loss on intercompany loans&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,854&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;8,966&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Interest expense, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;106,721&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79,496&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,226&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Reported EBITDA&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;499,221&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;702,377&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;617,568&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5449084e890-wk-Fact-B65AA17DEFD15F40FAC35D5D90D30868"
      unitRef="usd">913091000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5449084e904-wk-Fact-94C2E89261121FBC4B945D5D90EA4EB5"
      unitRef="usd">1033234000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_LiftTicketsMember_us-gaap_StatementBusinessSegmentsAxis_mtn_LiftTicketsMember"
      decimals="-3"
      id="d5449084e918-wk-Fact-F0CC14227F753F8E5BF25D5D90D5A6FA"
      unitRef="usd">880293000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5449084e933-wk-Fact-FA0E5ECC4D54DCF53A945D5D90E687CC"
      unitRef="usd">189131000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5449084e947-wk-Fact-4B0186D90BC9AB871D3B5D5D90D8D45B"
      unitRef="usd">215060000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_SkiSchoolMember_us-gaap_StatementBusinessSegmentsAxis_mtn_SkiSchoolMember"
      decimals="-3"
      id="d5449084e961-wk-Fact-459FC1CD031D4203CDCF5D5D90EAC389"
      unitRef="usd">189910000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5449084e981-wk-Fact-5500D2010491FB64A21D5D5D90D79D84"
      unitRef="usd">160763000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5449084e995-wk-Fact-F5B213B9DABC8267BF4D5D5D90E8F964"
      unitRef="usd">181837000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_DiningMember_us-gaap_StatementBusinessSegmentsAxis_mtn_DiningMember"
      decimals="-3"
      id="d5449084e1009-wk-Fact-DE45BA47F1F978168F585D5D90D95A83"
      unitRef="usd">161402000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5449084e1029-wk-Fact-9DBB23AFA71D1D2BCB865D5D90D57886"
      unitRef="usd">270299000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5449084e1043-wk-Fact-7563C57C226401E903AE5D5D90E67117"
      unitRef="usd">320267000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_RetailRentalMember_us-gaap_StatementBusinessSegmentsAxis_mtn_RetailRentalMember"
      decimals="-3"
      id="d5449084e1057-wk-Fact-11A627D0D9AB2080EE2D5D5D90E46F19"
      unitRef="usd">296466000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5449084e1077-wk-Fact-C2EF63F150179BD212495D5D90E1665F"
      unitRef="usd">177159000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5449084e1091-wk-Fact-0524D23AFDF934BFF8035D5D90D276EC"
      unitRef="usd">205803000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD_srt_ProductOrServiceAxis_mtn_OtherMountainRevenueMember_us-gaap_StatementBusinessSegmentsAxis_mtn_OtherMountainRevenueMember"
      decimals="-3"
      id="d5449084e1105-wk-Fact-BE6D1496F34A28C25BDA5D5D90E14C63"
      unitRef="usd">194851000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1125-wk-Fact-A00C362BECEAC3C71B605D5D90E212AA"
      unitRef="usd">1710443000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1139-wk-Fact-8D985D9D6196BB1E43F05D5D90DA26C0"
      unitRef="usd">1956201000</mtn:MountainRevenueNet>
    <mtn:MountainRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1153-wk-Fact-3D923F450CC7078C05DC5D5D90E9118C"
      unitRef="usd">1722922000</mtn:MountainRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1173-wk-Fact-C138D921906F2757C1B25D5D90DBAB30"
      unitRef="usd">248414000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1187-wk-Fact-8A88E895DABB3B6DCFEB5D5D90E968EC"
      unitRef="usd">314662000</mtn:LodgingRevenueNet>
    <mtn:LodgingRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1201-wk-Fact-F97B98F94853BA6B10AC5D5D90DF44D9"
      unitRef="usd">284643000</mtn:LodgingRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1221-wk-Fact-1FCCFF6A626E2C32DB275D5D90DE84FE"
      unitRef="usd">1958857000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1235-wk-Fact-2491BBA57701B88CA9135D5D90D7B16B"
      unitRef="usd">2270863000</mtn:ResortRevenueNet>
    <mtn:ResortRevenueNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1249-wk-Fact-20C24236F537BF44B0EE5D5D918422F6"
      unitRef="usd">2007565000</mtn:ResortRevenueNet>
    <mtn:RealEstateRevenue
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1270-wk-Fact-B6C68F0CAAD9A39D3FB45D5D90D4319C"
      unitRef="usd">4847000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1284-wk-Fact-D2C54BD7B1ACD66BD8EE5D5D919A210D"
      unitRef="usd">712000</mtn:RealEstateRevenue>
    <mtn:RealEstateRevenue
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1298-wk-Fact-B15F534AF7FF2694A4975D5D90C93B08"
      unitRef="usd">3988000</mtn:RealEstateRevenue>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1323-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F"
      unitRef="usd">1963704000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1337-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC"
      unitRef="usd">2271575000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1351-wk-Fact-13BF56D36D16097543555D5D919C600C"
      unitRef="usd">2011553000</us-gaap:Revenues>
    <mtn:MountainExpensesNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1422-wk-Fact-78327E789856D1E81AE05D5D91A1BBAE"
      unitRef="usd">1212053000</mtn:MountainExpensesNet>
    <mtn:MountainExpensesNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1436-wk-Fact-B05C6FA65B62613F89B080CD973B4320"
      unitRef="usd">1279567000</mtn:MountainExpensesNet>
    <mtn:MountainExpensesNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1450-wk-Fact-BFE8E6CF020C351629ED80CD9B713CB4"
      unitRef="usd">1132840000</mtn:MountainExpensesNet>
    <mtn:LodgingExpensesNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1465-wk-Fact-FF2B219560E5A18CB9505D5D915EDE1A"
      unitRef="usd">245145000</mtn:LodgingExpensesNet>
    <mtn:LodgingExpensesNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1479-wk-Fact-C532D8CA91059234E45C80CD974FB1CF"
      unitRef="usd">286562000</mtn:LodgingExpensesNet>
    <mtn:LodgingExpensesNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1493-wk-Fact-46C8709C7138C60C36AF80CD9BB9196D"
      unitRef="usd">259637000</mtn:LodgingExpensesNet>
    <mtn:ResortExpensesNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1513-wk-Fact-74E86C455965E566624C5D5D90D238CA"
      unitRef="usd">1457198000</mtn:ResortExpensesNet>
    <mtn:ResortExpensesNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1527-wk-Fact-8FC429A8B8A381D1418E5D5D91C15CCD"
      unitRef="usd">1566129000</mtn:ResortExpensesNet>
    <mtn:ResortExpensesNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1541-wk-Fact-DD0831EE75344C2AE9C25D5D91BD5E0D"
      unitRef="usd">1392477000</mtn:ResortExpensesNet>
    <mtn:RealEstateExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1561-wk-Fact-F1C84D4F112C138963A35D5D91A7F945"
      unitRef="usd">9182000</mtn:RealEstateExpense>
    <mtn:RealEstateExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1575-wk-Fact-7EAF9AB568E8FEE3E2C17F5EC6B52B61"
      unitRef="usd">5609000</mtn:RealEstateExpense>
    <mtn:RealEstateExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1589-wk-Fact-229EB45CEE10278BAF565D5D91B1D2BC"
      unitRef="usd">3546000</mtn:RealEstateExpense>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1614-wk-Fact-63195EA80CC4D450729B5D5D91B7AE2C"
      unitRef="usd">1466380000</mtn:OperatingCostsExpensesAndCostOfSales>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1628-wk-Fact-57CA93843081BEFFB1475D5D91BB8B40"
      unitRef="usd">1571738000</mtn:OperatingCostsExpensesAndCostOfSales>
    <mtn:OperatingCostsExpensesAndCostOfSales
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1642-wk-Fact-21B037E5F06E214615495D5D90DCC13F"
      unitRef="usd">1396023000</mtn:OperatingCostsExpensesAndCostOfSales>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1662-wk-Fact-86EB8AD79CFB2288E1895D5D90D2C6EA"
      unitRef="usd">207000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1676-wk-Fact-051891509C1C988E4A3D5D5D91B3953E"
      unitRef="usd">580000</mtn:GainOnSaleOfRealProperty>
    <mtn:GainOnSaleOfRealProperty
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1690-wk-Fact-9D9A305CE7A2C7B93C205D5D9196C993"
      unitRef="usd">515000</mtn:GainOnSaleOfRealProperty>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e1710-wk-Fact-A3EFF628595036A1DFBC5D5D91B97307"
      unitRef="usd">1690000</mtn:MountainEquityInvestmentIncomeLossNet>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e1724-wk-Fact-632AEA39C0B374BE9D495D5D90CF9E5B"
      unitRef="usd">1960000</mtn:MountainEquityInvestmentIncomeLossNet>
    <mtn:MountainEquityInvestmentIncomeLossNet
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e1738-wk-Fact-544889EAB6C42557F9215D5D917BEF7C"
      unitRef="usd">1523000</mtn:MountainEquityInvestmentIncomeLossNet>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5449084e1810-wk-Fact-8EAD2906C2599498D55F5D5D919580E9"
      unitRef="usd">500080000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5449084e1824-wk-Fact-68C7F3E5133B7B5A838E80CD9C5F74D7"
      unitRef="usd">678594000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_MountainMember"
      decimals="-3"
      id="d5449084e1838-wk-Fact-9337AAA4BDFABC61269780CD9BC5BD1B"
      unitRef="usd">591605000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5449084e1853-wk-Fact-73782284B75F146BA9465D5D9193A8CA"
      unitRef="usd">3269000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5449084e1867-wk-Fact-65121E7AFE159FC3416C80CD9BF8E937"
      unitRef="usd">28100000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_LodgingMember"
      decimals="-3"
      id="d5449084e1881-wk-Fact-433F5F9D83C8F809AA2E80CD9C1E1C5F"
      unitRef="usd">25006000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember"
      decimals="-3"
      id="d5449084e1901-wk-Fact-7346D4604A83310CCD5F80CD9B7F29CC"
      unitRef="usd">503349000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember"
      decimals="-3"
      id="d5449084e1915-wk-Fact-DEC750989B2ED494B8CC80CD9C6E26E7"
      unitRef="usd">706694000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_mtn_ResortMember"
      decimals="-3"
      id="d5449084e1929-wk-Fact-CC3C6A9CDE015FA8CC3580CD9743E1D7"
      unitRef="usd">616611000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember"
      decimals="-3"
      id="d5449084e1949-wk-Fact-B821B3E73706055B96F35D5D90F2F234"
      unitRef="usd">-4128000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember"
      decimals="-3"
      id="d5449084e1964-wk-Fact-2ACC1F21C0F417512AAD80CD9C3E39EC"
      unitRef="usd">-4317000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD_us-gaap_StatementBusinessSegmentsAxis_us-gaap_RealEstateMember"
      decimals="-3"
      id="d5449084e1979-wk-Fact-F71073A930BF9C8070C080CD9CB27F36"
      unitRef="usd">957000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2004-wk-Fact-28B88D7DEECF782BC78580CD9BCA87A8"
      unitRef="usd">499221000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2018-wk-Fact-8A7E112C8605B0A5B8E280CD9B91D324"
      unitRef="usd">702377000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2032-wk-Fact-AE861D7B6D7D7FEB09D580CD9C260E2B"
      unitRef="usd">617568000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <us-gaap:InventoryRealEstate
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5449084e2052-wk-Fact-9A3BF23642834B18253F5D5D90FF91CC"
      unitRef="usd">96844000</us-gaap:InventoryRealEstate>
    <us-gaap:InventoryRealEstate
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5449084e2066-wk-Fact-9B1AA3C0CB1932F35B315D5D9117C8EE"
      unitRef="usd">101021000</us-gaap:InventoryRealEstate>
    <us-gaap:InventoryRealEstate
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5449084e2080-wk-Fact-3118FE1C3AA7785BD0E680CD9C976008"
      unitRef="usd">99385000</us-gaap:InventoryRealEstate>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2151-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2165-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2179-wk-Fact-D9B3D33CB044D3603D4F5D5D91810733"
      unitRef="usd">379898000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2194-wk-Fact-4BC34695554512EEB0875D5D91B3F067"
      unitRef="usd">10222000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2208-wk-Fact-54C4B4F7BF089BB8CD265D5D919C9E8C"
      unitRef="usd">22330000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:NetIncomeLossAttributableToNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2222-wk-Fact-BF6DEC6DCFDA8C0335345D5D919E7139"
      unitRef="usd">21332000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2242-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2256-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2270-wk-Fact-1E65FF562F222C37D6D65D5D90D68289"
      unitRef="usd">401230000</us-gaap:ProfitLoss>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2290-wk-Fact-4BBDBFA1C3054E46FEDF5D5D91945F56"
      unitRef="usd">7378000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2304-wk-Fact-9DD494C9FA471D6453CC5D5D90C86895"
      unitRef="usd">75472000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeTaxExpenseBenefit
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2318-wk-Fact-29C82F6CF26FB4BD2E9C5D5D90D959B7"
      unitRef="usd">-61138000</us-gaap:IncomeTaxExpenseBenefit>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2340-wk-Fact-B3778B60CAA905DEBAE05D5D90CED58E"
      unitRef="usd">116433000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2354-wk-Fact-9BCBCFA1F4052CB2A2225D5D91BF0308"
      unitRef="usd">398965000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2368-wk-Fact-0CF92A300F25E70668165D5D90D5020D"
      unitRef="usd">340092000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2388-wk-Fact-F4485E3233F0941E09F85D5D918BA840"
      unitRef="usd">249572000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2402-wk-Fact-C7B0386F43B2E7E7BDE65D5D91BFACF1"
      unitRef="usd">218117000</us-gaap:DepreciationAndAmortization>
    <us-gaap:DepreciationAndAmortization
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2416-wk-Fact-488CCF1C0B58A54DA5095D5D91AE761E"
      unitRef="usd">204462000</us-gaap:DepreciationAndAmortization>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2436-wk-Fact-EEC1F131D224335FB26F7F5F349A2C2B"
      unitRef="usd">28372000</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2450-wk-Fact-D9D28453E507D9CC1D307F5F34A639D9"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <us-gaap:AssetImpairmentCharges
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2464-wk-Fact-FF6806CC8358D78074357F5F349F727A"
      unitRef="usd">0</us-gaap:AssetImpairmentCharges>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2484-wk-Fact-0E672D5DA143D419508F5D5D91B15B97"
      unitRef="usd">838000</us-gaap:GainLossOnDispositionOfAssets>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2499-wk-Fact-2EB6EE263D796553A5F35D5D918983E7"
      unitRef="usd">-664000</us-gaap:GainLossOnDispositionOfAssets>
    <us-gaap:GainLossOnDispositionOfAssets
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2513-wk-Fact-1BAF7613F6102F3967B45D5D91A43D90"
      unitRef="usd">-4620000</us-gaap:GainLossOnDispositionOfAssets>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2533-wk-Fact-592260D8F722569C62AF5D5D90D3F18B"
      unitRef="usd">-2964000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2548-wk-Fact-3B33A6D91AB722E9D05B5D5D90DC599E"
      unitRef="usd">5367000</mtn:ChangeinFairValueofContingentConsideration>
    <mtn:ChangeinFairValueofContingentConsideration
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2562-wk-Fact-EA846B1396E3111C0CC05D5D91B71FB8"
      unitRef="usd">-1854000</mtn:ChangeinFairValueofContingentConsideration>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2583-wk-Fact-B758075EEA82D3FD17B15D5D90D666ED"
      unitRef="usd">1305000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2598-wk-Fact-705C7CC30FA223900A9C5D5D91B2EF40"
      unitRef="usd">3086000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:InvestmentIncomeInterest
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2613-wk-Fact-B4450D06176A074006365D5D9170158B"
      unitRef="usd">1944000</us-gaap:InvestmentIncomeInterest>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2634-wk-Fact-9B9034BF098AA8B9C3C75D5D90CA5735"
      unitRef="usd">-3230000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2648-wk-Fact-1854C21DCE4538A7DF2F5D5D90DC324B"
      unitRef="usd">-2854000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2662-wk-Fact-3180CAC2BBA33A27E1AA5D5D91962FC2"
      unitRef="usd">-8966000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
    <us-gaap:InterestExpense
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2682-wk-Fact-3DCFFCC3B6808C730D295D5D918AE373"
      unitRef="usd">106721000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2696-wk-Fact-FC772F1B7753BB9545A45D5D91B3CF46"
      unitRef="usd">79496000</us-gaap:InterestExpense>
    <us-gaap:InterestExpense
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2710-wk-Fact-5261758C4F75E6A002615D5D90DDDAA1"
      unitRef="usd">63226000</us-gaap:InterestExpense>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e2735-wk-Fact-28B88D7DEECF782BC78580CD9BCA87A8"
      unitRef="usd">499221000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e2749-wk-Fact-8A7E112C8605B0A5B8E280CD9B91D324"
      unitRef="usd">702377000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <mtn:EarningBeforeInterestTaxesDepreciationAndAmortization
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e2763-wk-Fact-AE861D7B6D7D7FEB09D580CD9C260E2B"
      unitRef="usd">617568000</mtn:EarningBeforeInterestTaxesDepreciationAndAmortization>
    <us-gaap:RevenueFromExternalCustomersByGeographicAreasTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-130D39C02DBF9F2DE46D5D5D91E36ED6-0-wk-Fact-A4FDE1370352F325C5305D5D919FE89A">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;text-decoration:underline;"&gt;Geographic Information&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.4140625%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,655,961&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,865,062&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,610,323&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;International &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;307,743&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;406,513&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;401,230&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,011,553&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;height:21px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;U.S.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,759,692&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,381,378&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;International &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;sup style="vertical-align:top;line-height:120%;font-size:7pt"&gt;(1)&lt;/sup&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;432,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;461,122&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total property, plant and equipment, net&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,192,679&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,842,500&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;(1) The only individual international country (i.e. except the U.S.) to account for more than 10% of the Company&#x2019;s revenue and property plant and equipment, net was Canada. Canada accounted for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$223.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$308.1 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$321.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of revenue for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, and for &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$291.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$319.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of property, plant and equipment, net as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;</us-gaap:RevenueFromExternalCustomersByGeographicAreasTableTextBlock>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember"
      decimals="-3"
      id="d5449084e2928-wk-Fact-D9163D9F5DEA63FACFF680CDB0D0BE75"
      unitRef="usd">1655961000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember"
      decimals="-3"
      id="d5449084e2942-wk-Fact-134975B1223DECFCA96380CDB0A79A1E"
      unitRef="usd">1865062000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember"
      decimals="-3"
      id="d5449084e2956-wk-Fact-FA1EF1E552036B18192980CDB0B37ED2"
      unitRef="usd">1610323000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember"
      decimals="-3"
      id="d5449084e2973-wk-Fact-D304FE63250D25F3308580CDB0CB11EA"
      unitRef="usd">307743000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember"
      decimals="-3"
      id="d5449084e2987-wk-Fact-362382FE178EB52C8C5780CDB0D9323D"
      unitRef="usd">406513000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember"
      decimals="-3"
      id="d5449084e3001-wk-Fact-926AC9989CA6BFF7660080CDB0DF5B58"
      unitRef="usd">401230000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5449084e3026-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F"
      unitRef="usd">1963704000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5449084e3040-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC"
      unitRef="usd">2271575000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5449084e3054-wk-Fact-13BF56D36D16097543555D5D919C600C"
      unitRef="usd">2011553000</us-gaap:Revenues>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember"
      decimals="-3"
      id="d5449084e3241-wk-Fact-339023A878D409ABEB4580CDB09A9F6D"
      unitRef="usd">1759692000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionDomesticMember"
      decimals="-3"
      id="d5449084e3255-wk-Fact-9B33113627C76503F48280CDB0D5193B"
      unitRef="usd">1381378000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember"
      decimals="-3"
      id="d5449084e3287-wk-Fact-E6AE1300B9CE54A1795D80CDB0B8C196"
      unitRef="usd">432987000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_GeographicDistributionForeignMember"
      decimals="-3"
      id="d5449084e3301-wk-Fact-F2B9A40CC915C4FC2F8A80CDB0BD2078"
      unitRef="usd">461122000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5449084e3341-wk-Fact-64306ED28AA8F0789DF35D5D910EC878"
      unitRef="usd">2192679000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5449084e3355-wk-Fact-0445C031C9A71E1C8C645D5D9100B98A"
      unitRef="usd">1842500000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember"
      decimals="-3"
      id="d5449084e3364-wk-Fact-C71BA086FAAF2C63C04480E556D2B654"
      unitRef="usd">223300000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember"
      decimals="-3"
      id="d5449084e3368-wk-Fact-7136D1E48EA6C4CCB3425D5D919D9A3F"
      unitRef="usd">308100000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2018Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember"
      decimals="-3"
      id="d5449084e3372-wk-Fact-B03309F39ECCD4AB895A5D5D91A19AEE"
      unitRef="usd">321000000.0</us-gaap:Revenues>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2020Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember"
      decimals="-3"
      id="d5449084e3389-wk-Fact-E64A0FB5F1D2FC0C90AA80E5B2572ABE"
      unitRef="usd">291700000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:PropertyPlantAndEquipmentNet
      contextRef="FI2019Q4_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember"
      decimals="-3"
      id="d5449084e3393-wk-Fact-6D18CC281EB8D37F052A5D5D91940D0D"
      unitRef="usd">319400000</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:QuarterlyFinancialInformationTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5A705A481E0A515E5C0D5D5D91E30048-0-wk-Fact-C5E632E2A166627883C15D5D91A365EC">Selected Quarterly Financial Data (Unaudited)&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="16"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:35%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;(in thousands, except per share amounts)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Full Year &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Fourth &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Third &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Second &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;First &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;77,209&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;694,087&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;924,638&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;267,770&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income (loss) from operations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;223,389&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(170,046&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;218,232&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;310,733&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(135,530&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,055&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(157,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;159,831&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217,018&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(109,829&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss) attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(153,608&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,546&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;206,370&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(106,475&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Basic net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.79&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.64&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Diluted net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.42&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.74&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.04&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.64&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="16"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:35%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;(in thousands, except per share amounts)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Full Year &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Fourth &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Third &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Second &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;First &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;244,006&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;957,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;849,578&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;220,004&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income (loss) from operations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;476,269&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(120,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;422,598&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,848&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(127,595&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;323,493&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(92,301&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;308,530&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217,990&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(110,726&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss) attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(89,525&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;292,134&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;206,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(107,795&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Basic net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.22&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.26&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Diluted net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.22&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.02&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
    <us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-5FE440CBD30C30497DE55D5D91E3F2E7-0-wk-Fact-13C43D6C605C958DB52B5D5D91A4DACB">&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="16"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:35%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;(in thousands, except per share amounts)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Full Year &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Fourth &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Third &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Second &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;First &lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,963,704&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;77,209&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;694,087&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;924,638&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;267,770&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income (loss) from operations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;223,389&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(170,046&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;218,232&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;310,733&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(135,530&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;109,055&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(157,965&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;159,831&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217,018&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(109,829&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss) attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;98,833&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(153,608&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;152,546&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;206,370&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(106,475&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Basic net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.79&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.64&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Diluted net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.42&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.74&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.04&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.64&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="16"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:35%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:11%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;"&gt;(in thousands, except per share amounts)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Full Year &lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Fourth &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Third &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;Second &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:9pt;"&gt;&lt;span style="font-family:inherit;font-size:9pt;font-weight:bold;"&gt;First &lt;br/&gt;Quarter&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total net revenue&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,271,575&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;244,006&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;957,987&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;849,578&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;220,004&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Income (loss) from operations&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;476,269&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(120,582&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;422,598&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,848&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(127,595&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;323,493&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(92,301&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;308,530&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217,990&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(110,726&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Net income (loss) attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;301,163&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(89,525&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;292,134&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;206,349&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(107,795&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Basic net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.22&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.26&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Diluted net income (loss) per share attributable to Vail Resorts, Inc.&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.32&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.22&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.02&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(2.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock>
    <us-gaap:Revenues
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5450684e903-wk-Fact-FE9345C98F78639C318F5D5D90D9E08F"
      unitRef="usd">1963704000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q4QTD"
      decimals="-3"
      id="d5450684e917-wk-Fact-B69912F2703EC30FA6365D5D90EC76C2"
      unitRef="usd">77209000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q3QTD"
      decimals="-3"
      id="d5450684e931-wk-Fact-FE60DB3BAA4B987F3A115D5D90F71DCB"
      unitRef="usd">694087000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q2QTD"
      decimals="-3"
      id="d5450684e946-wk-Fact-5A9605E7346CD51230935D5D90F52CCB"
      unitRef="usd">924638000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2020Q1QTD"
      decimals="-3"
      id="d5450684e960-wk-Fact-4E8513223EF114868D3D5D5D90EC0CB6"
      unitRef="usd">267770000</us-gaap:Revenues>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5450684e980-wk-Fact-6DEB8E23CF4F112214B55D5D91B08AE7"
      unitRef="usd">223389000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q4QTD"
      decimals="-3"
      id="d5450684e994-wk-Fact-EDA32C8361A9981FCF825D5D91A6D798"
      unitRef="usd">-170046000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q3QTD"
      decimals="-3"
      id="d5450684e1009-wk-Fact-0003B5B44252E38A13FE5D5D91A00580"
      unitRef="usd">218232000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q2QTD"
      decimals="-3"
      id="d5450684e1024-wk-Fact-F1F79632F234198D42AE5D5D91A42129"
      unitRef="usd">310733000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2020Q1QTD"
      decimals="-3"
      id="d5450684e1038-wk-Fact-A875089DAE4C5B911D195D5D91AE15CD"
      unitRef="usd">-135530000</us-gaap:OperatingIncomeLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5450684e1059-wk-Fact-593D73702776835233895D5D90D206DE"
      unitRef="usd">109055000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q4QTD"
      decimals="-3"
      id="d5450684e1073-wk-Fact-A783B44F5D6F16287A535D5D919C052D"
      unitRef="usd">-157965000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q3QTD"
      decimals="-3"
      id="d5450684e1088-wk-Fact-7043CAB976644FCDB5765D5D91A4C9AE"
      unitRef="usd">159831000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q2QTD"
      decimals="-3"
      id="d5450684e1103-wk-Fact-3A5C547F9E6BAC631DFA5D5D90EF9FBB"
      unitRef="usd">217018000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2020Q1QTD"
      decimals="-3"
      id="d5450684e1117-wk-Fact-BA3F565AA52FD1B18B6E5D5D91AD7ED9"
      unitRef="usd">-109829000</us-gaap:ProfitLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5450684e1138-wk-Fact-76A632FFB1A2E9B91B175D5D90D1C170"
      unitRef="usd">98833000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q4QTD"
      decimals="-3"
      id="d5450684e1152-wk-Fact-275A05CA5AAC36E7AB165D5D91BF30D0"
      unitRef="usd">-153608000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q3QTD"
      decimals="-3"
      id="d5450684e1167-wk-Fact-77CD54180B0A3EC8EB945D5D919F49F0"
      unitRef="usd">152546000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q2QTD"
      decimals="-3"
      id="d5450684e1182-wk-Fact-6F409B2A2CF21C1C30B35D5D90F24F40"
      unitRef="usd">206370000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2020Q1QTD"
      decimals="-3"
      id="d5450684e1196-wk-Fact-386E2A77C35572CA02CE5D5D90F687F8"
      unitRef="usd">-106475000</us-gaap:NetIncomeLoss>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5450684e1217-wk-Fact-7FA4A2C6B83C57AEF22E5D5D91A8BBED"
      unitRef="usdPerShare">2.45</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q4QTD"
      decimals="2"
      id="d5450684e1231-wk-Fact-95B53DC139E44AD8AA905D5D90C84935"
      unitRef="usdPerShare">-3.82</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q3QTD"
      decimals="2"
      id="d5450684e1246-wk-Fact-16364515ACDB58CB23265D5D91AB3DDB"
      unitRef="usdPerShare">3.79</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q2QTD"
      decimals="2"
      id="d5450684e1261-wk-Fact-B153AD8A589FB2CA2BCB5D5D91B5C4F0"
      unitRef="usdPerShare">5.12</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2020Q1QTD"
      decimals="2"
      id="d5450684e1275-wk-Fact-4EA90CCEBC1E0A3BC9FB5D5D91B5C808"
      unitRef="usdPerShare">-2.64</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5450684e1296-wk-Fact-2F0F392D5872871EC63E5D5D90DBD641"
      unitRef="usdPerShare">2.42</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q4QTD"
      decimals="2"
      id="d5450684e1310-wk-Fact-80C9BC5D1DAC86BDDA665D5D919F561E"
      unitRef="usdPerShare">-3.82</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q3QTD"
      decimals="2"
      id="d5450684e1325-wk-Fact-9C608F9CE4D5FC5937145D5D9186CBCC"
      unitRef="usdPerShare">3.74</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q2QTD"
      decimals="2"
      id="d5450684e1340-wk-Fact-7B5A14BF81359263A2F85D5D91B778CC"
      unitRef="usdPerShare">5.04</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2020Q1QTD"
      decimals="2"
      id="d5450684e1354-wk-Fact-27E1D7410DE38AC0E80D5D5D919C3A2D"
      unitRef="usdPerShare">-2.64</us-gaap:EarningsPerShareDiluted>
    <us-gaap:Revenues
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5450684e1564-wk-Fact-0BE1253278CAB947280C5D5D91B4F6DC"
      unitRef="usd">2271575000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q4QTD"
      decimals="-3"
      id="d5450684e1578-wk-Fact-FBA46D74B2C36CD27CCB5D5D91A88695"
      unitRef="usd">244006000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q3QTD"
      decimals="-3"
      id="d5450684e1592-wk-Fact-FE098DC1D0E8466ED6435D5D91909FE9"
      unitRef="usd">957987000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q2QTD"
      decimals="-3"
      id="d5450684e1607-wk-Fact-DA3488ABEC30C49493B85D5D90D55E4D"
      unitRef="usd">849578000</us-gaap:Revenues>
    <us-gaap:Revenues
      contextRef="FD2019Q1QTD"
      decimals="-3"
      id="d5450684e1621-wk-Fact-9780DD833677A3B0CBBB5D5D919E86E8"
      unitRef="usd">220004000</us-gaap:Revenues>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5450684e1641-wk-Fact-A64FCE6679D0CB76FAE65D5D90DD09F9"
      unitRef="usd">476269000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q4QTD"
      decimals="-3"
      id="d5450684e1655-wk-Fact-970CA728B282E565B4275D5D90F04F03"
      unitRef="usd">-120582000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q3QTD"
      decimals="-3"
      id="d5450684e1670-wk-Fact-36EEB19779A63AEEE99B5D5D90F08257"
      unitRef="usd">422598000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q2QTD"
      decimals="-3"
      id="d5450684e1685-wk-Fact-98E824F5258EC937BA945D5D91AB3F11"
      unitRef="usd">301848000</us-gaap:OperatingIncomeLoss>
    <us-gaap:OperatingIncomeLoss
      contextRef="FD2019Q1QTD"
      decimals="-3"
      id="d5450684e1699-wk-Fact-ACF9F900197D9935A3A95D5D91A4B34B"
      unitRef="usd">-127595000</us-gaap:OperatingIncomeLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5450684e1720-wk-Fact-813790F99F93EE4E35035D5D91AB5D47"
      unitRef="usd">323493000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q4QTD"
      decimals="-3"
      id="d5450684e1734-wk-Fact-A50AB01804E54246A6F95D5D90D2EDC1"
      unitRef="usd">-92301000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q3QTD"
      decimals="-3"
      id="d5450684e1749-wk-Fact-180A7584A0FA156BAAE45D5D91A41CB1"
      unitRef="usd">308530000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q2QTD"
      decimals="-3"
      id="d5450684e1764-wk-Fact-9E4726508D115451B8EC5D5D91A788F5"
      unitRef="usd">217990000</us-gaap:ProfitLoss>
    <us-gaap:ProfitLoss
      contextRef="FD2019Q1QTD"
      decimals="-3"
      id="d5450684e1778-wk-Fact-AA022828C49C97B574C55D5D919AD67F"
      unitRef="usd">-110726000</us-gaap:ProfitLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5450684e1799-wk-Fact-4BA1D8FFE1B31401589A5D5D91BB2A49"
      unitRef="usd">301163000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q4QTD"
      decimals="-3"
      id="d5450684e1813-wk-Fact-9AD166F287CD2246B5085D5D91A53029"
      unitRef="usd">-89525000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q3QTD"
      decimals="-3"
      id="d5450684e1828-wk-Fact-962E553F8B9F76C33D3B5D5D919EAABA"
      unitRef="usd">292134000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q2QTD"
      decimals="-3"
      id="d5450684e1843-wk-Fact-F5D936E24D46551794AE5D5D91B9551E"
      unitRef="usd">206349000</us-gaap:NetIncomeLoss>
    <us-gaap:NetIncomeLoss
      contextRef="FD2019Q1QTD"
      decimals="-3"
      id="d5450684e1857-wk-Fact-3E51D1FD07713F7EA95B5D5D91928662"
      unitRef="usd">-107795000</us-gaap:NetIncomeLoss>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5450684e1878-wk-Fact-FB9BDEB9EEB169922CF05D5D91820826"
      unitRef="usdPerShare">7.46</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q4QTD"
      decimals="2"
      id="d5450684e1892-wk-Fact-F355531502F1F35074E65D5D90EE9B29"
      unitRef="usdPerShare">-2.22</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q3QTD"
      decimals="2"
      id="d5450684e1907-wk-Fact-D0070DF50FD9E88979BD5D5D9190CA64"
      unitRef="usdPerShare">7.26</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q2QTD"
      decimals="2"
      id="d5450684e1922-wk-Fact-82AC7469AE45A8964DB15D5D91A9DC64"
      unitRef="usdPerShare">5.12</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareBasic
      contextRef="FD2019Q1QTD"
      decimals="2"
      id="d5450684e1936-wk-Fact-BFFC909B01CC414760E25D5D90EEC594"
      unitRef="usdPerShare">-2.66</us-gaap:EarningsPerShareBasic>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5450684e1957-wk-Fact-769B2B2962B5367305AD5D5D91863542"
      unitRef="usdPerShare">7.32</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q4QTD"
      decimals="2"
      id="d5450684e1971-wk-Fact-41F3AFC99A0F8A295E3F5D5D90CFEABC"
      unitRef="usdPerShare">-2.22</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q3QTD"
      decimals="2"
      id="d5450684e1986-wk-Fact-51C32BB36A5F49B21D155D5D9194DDF3"
      unitRef="usdPerShare">7.12</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q2QTD"
      decimals="2"
      id="d5450684e2001-wk-Fact-079DEF137A9DCB725FA05D5D919EE964"
      unitRef="usdPerShare">5.02</us-gaap:EarningsPerShareDiluted>
    <us-gaap:EarningsPerShareDiluted
      contextRef="FD2019Q1QTD"
      decimals="2"
      id="d5450684e2015-wk-Fact-F8A50A3DDDBE2A742F695D5D91A4FC89"
      unitRef="usdPerShare">-2.66</us-gaap:EarningsPerShareDiluted>
    <us-gaap:ScheduleOfTreasuryStockByClassTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-2C2242C9C54EAFC03C025D5D91E3CE68-0-wk-Fact-81C37F885E8CA319B1685D5D91B1D8DA">Share Repurchase Program&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;On March&#160;9, 2006, the Company&#x2019;s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,000,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares. On July&#160;16, 2008, the Company&#x2019;s Board of Directors increased the authorization by an additional &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3,000,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares, and on December 4, 2015, the Company&#x2019;s Board of Directors increased the authorization by an additional &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,500,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares for a total authorization to repurchase shares of up to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;7,500,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares. During the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company repurchased &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;256,418&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares (at a total cost of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$46.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). During the year ended July 31, 2019, the Company repurchased &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;353,007&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares (at a total cost of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$85.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). During the year ended July 31, 2018, the Company repurchased &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;115,422&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares (at a total cost of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;). Since inception of this stock repurchase program through &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, the Company has repurchased &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6,161,141&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; shares at a cost of approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$404.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,338,859&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; Vail Shares remained available to repurchase under the existing share repurchase program, which has no expiration date. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for issuance under the Company&#x2019;s employee share award plan.&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfTreasuryStockByClassTextBlock>
    <us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
      contextRef="I2006Q3"
      decimals="INF"
      id="d5450825e681-wk-Fact-D0A3994A5A63E5EB574B5D5D918FF4EB"
      unitRef="shares">3000000</us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased>
    <mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased
      contextRef="I2008Q4SD"
      decimals="INF"
      id="d5450825e685-wk-Fact-3AC925E7614F9DC8C78E5D5D91A21933"
      unitRef="shares">3000000</mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased>
    <mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased
      contextRef="I2016Q2SharesAuthorized"
      decimals="INF"
      id="d5450825e689-wk-Fact-E7DCFC2273AB5D3AD2D65D5D91AAF2EE"
      unitRef="shares">1500000</mtn:StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased>
    <us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
      contextRef="FI2020Q4"
      decimals="0"
      id="d5450825e693-wk-Fact-A1152043F3269F32FA185D5D91AFD4DB"
      unitRef="shares">7500000</us-gaap:StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased>
    <us-gaap:TreasuryStockSharesAcquired
      contextRef="FD2020Q4YTD"
      decimals="0"
      id="d5450825e702-wk-Fact-15D025989D22AA0B17585D5D918AEB00"
      unitRef="shares">256418</us-gaap:TreasuryStockSharesAcquired>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5450825e706-wk-Fact-1A0153A04005D7298AA95D5D91ADF7EB"
      unitRef="usd">46400000</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:TreasuryStockSharesAcquired
      contextRef="FD2019Q4YTD"
      decimals="0"
      id="d5450825e710-wk-Fact-FAE8ED0D40FB812C27105D5D91A71857"
      unitRef="shares">353007</us-gaap:TreasuryStockSharesAcquired>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5450825e714-wk-Fact-B45742AE8BA5444BF7535D5D91AB1B71"
      unitRef="usd">85000000.0</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:TreasuryStockSharesAcquired
      contextRef="FD2018Q4YTD"
      decimals="0"
      id="d5450825e718-wk-Fact-A3E478809D0334365B255D5D91A92849"
      unitRef="shares">115422</us-gaap:TreasuryStockSharesAcquired>
    <us-gaap:PaymentsForRepurchaseOfCommonStock
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5450825e722-wk-Fact-F4105E30F055A34593055D5D91A1CF2B"
      unitRef="usd">25800000</us-gaap:PaymentsForRepurchaseOfCommonStock>
    <us-gaap:TreasuryStockShares
      contextRef="FI2020Q4"
      decimals="0"
      id="d5450825e731-wk-Fact-DDE9E4D51B94431832FF5D5D91AFE442"
      unitRef="shares">6161141</us-gaap:TreasuryStockShares>
    <us-gaap:TreasuryStockValue
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5450825e735-wk-Fact-8594968C8B43D4020AD283A003B6C091"
      unitRef="usd">404400000</us-gaap:TreasuryStockValue>
    <us-gaap:StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
      contextRef="FI2020Q4"
      decimals="0"
      id="d5450825e743-wk-Fact-E9B7F55C15B0849DD8A75D5D919F201C"
      unitRef="shares">1338859</us-gaap:StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased>
    <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B05738235EA958F84BB45D5D91E40EE4-0-wk-Fact-28AAC7CF69B426DE56235D5D919D551A">k Compensation Plan&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has a share award plan (the &#x201c;Plan&#x201d;) which has been approved by the Company&#x2019;s stockholders. Under the Plan, up to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.4 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; shares of common stock could be issued in the form of options, stock appreciation rights, restricted shares, restricted share units, performance shares, performance share units, dividend equivalents or other share-based awards to employees, directors or consultants of the Company or its subsidiaries or affiliates. The terms of awards granted under the Plan, including exercise price, vesting period and life, are set by the Compensation Committee of the Board of Directors. All share-based awards (except for restricted shares and restricted share units) granted under the Plan have a life of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;ten years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Most awards vest ratably over &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;three years&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;; however, some have been granted with different vesting schedules. Of the awards outstanding, none have been granted to non-employees (except those granted to non-employee members of the Board of Directors of the Company) under the Plan. At &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, approximately &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;3.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; share based awards were available to be granted under the Plan.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The fair value of stock-settled stock appreciation rights (&#x201c;SARs&#x201d;) granted in the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; were estimated on the date of grant using a lattice-based option valuation model that applies the assumptions noted in the table below. A lattice-based model considers factors such as exercise behavior, and assumes employees will exercise equity awards at different times over the contractual life of the equity awards. As a lattice-based model considers these factors, and is more flexible, the Company considers it to be a better method of valuing equity awards than a closed-form Black-Scholes model. Because lattice-based option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatility is based on historical volatility of the Company&#x2019;s stock. The Company uses historical data to estimate equity award exercises and employee terminations within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of equity awards granted is derived from the output of the option valuation model and represents the period of time that equity awards granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected volatility&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29.7%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38.6%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40.0%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected dividends&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.8%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.1%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.0%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected term (average in years)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.5-7.1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.0-6.6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;5.8-6.4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Risk-free rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1.8-2.0%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2.4-2.9%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1.2-2.3%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company records actual forfeitures related to unvested awards upon employee terminations. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of aggregate SARs award activity under the Plan as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Exercise Price&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Remaining&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Contractual Term&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Aggregate&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Intrinsic&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at August 1, 2017&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,290&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;59.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;237.86&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;33.25&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;172.03&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,324&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;91.01&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;293.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(219&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;49.09&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(14&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217.58&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,171&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;111.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;245.26&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(247&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67.19&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;252.75&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,061&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;138.59&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.0 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested and expected to vest at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,042&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;136.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.9 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercisable at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;846&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;108.73&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.1 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The weighted-average grant-date estimated fair value of SARs granted during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$58.25&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$98.19&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$78.07&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. The total intrinsic value of SARs exercised during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$35.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$41.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$213.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. The Company had &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;91,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;131,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;169,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; SARs that vested during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&#160;These awards had a total estimated fair value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$2.6 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$15.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$18.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; at the date of vesting for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of the status of the Company&#x2019;s nonvested SARs as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and changes during the year then ended is presented below (in thousands, except fair value amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:64%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Grant-Date&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;168&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80.75&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;58.25&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(91)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;71.57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(8)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79.23&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;69.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of the status of the Company&#x2019;s nonvested restricted share units as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and changes during the year then ended is presented below (in thousands, except fair value amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:64%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Grant-Date&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;126&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;230.10&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;83&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(63)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;216.07&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(16)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;229.97&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;130&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;228.77&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company granted &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;83,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; restricted share units during the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; with a weighted-average grant-date estimated fair value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$217.46&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Company granted &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;68,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; restricted share units during the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; with a weighted-average grant-date estimated fair value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$264.44&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Company granted &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;77,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; restricted share units during the year ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; with a weighted-average grant-date estimated fair value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$215.14&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. The Company had &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;63,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;102,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;101,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; restricted share units that vested during the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively. These units had a total estimated fair value of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$14.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$28.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$23.5 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; at the date of vesting for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, there was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$25.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of total unrecognized compensation expense related to nonvested share-based compensation arrangements granted under the Plan, of which &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$15.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$9.0 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$1.2 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of expense is expected to be recognized in the years ending &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2021&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2022&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2023&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively, assuming no share-based awards are granted in the future or forfeited. The tax benefit realized or expected to be realized from SARs exercised and restricted stock units vested was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$12.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$16.3 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$79.7 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company has a policy of using either authorized and unissued shares or treasury shares, including shares acquired by purchase in the open market, to satisfy equity award exercises.&lt;/span&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5452541e681-wk-Fact-BBE9C3C46DFED97049CE5D5D91C191BD"
      unitRef="shares">4400000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife
      contextRef="FD2020Q4YTD"
      id="d5452541e685-wk-Fact-70EE3B13A0309886A18F5D5D91BD3E69">P10Y</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
      contextRef="FD2020Q4YTD"
      id="d5452541e689-wk-Fact-2F5E48042B72F1D2E32C5D5D91B0CFDD">P3Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5452541e697-wk-Fact-E90FCD427DC7B6080BEE5D5D91AA8E15"
      unitRef="shares">3200000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
    <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-6EFA6E61227992826E065D5D91E49048-0-wk-Fact-5F9EAB8272653C00BA925D5D918E0933">The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:52%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Year Ended July 31,&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected volatility&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;29.7%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;38.6%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;40.0%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected dividends&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.8%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.1%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2.0%&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Expected term (average in years)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.5-7.1&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;6.0-6.6&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;5.8-6.4&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Risk-free rate&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1.8-2.0%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2.4-2.9%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1.2-2.3%&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5452541e791-wk-Fact-D7A0F1AE34D06BC407395D5D90EFDB63"
      unitRef="number">0.297</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
      contextRef="FD2019Q4YTD"
      decimals="INF"
      id="d5452541e796-wk-Fact-2ACC0DF0A9FA616001AB5D5D90ED7848"
      unitRef="number">0.386</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
      contextRef="FD2018Q4YTD"
      decimals="INF"
      id="d5452541e801-wk-Fact-B9E29C247936C68287115D5D90EDB1DD"
      unitRef="number">0.400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5452541e812-wk-Fact-A96AC114BB0C1E0835915D5D90EFC2D4"
      unitRef="number">0.028</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
      contextRef="FD2019Q4YTD"
      decimals="INF"
      id="d5452541e817-wk-Fact-484815E1448D1DEA6E6D5D5D90EECE86"
      unitRef="number">0.021</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
      contextRef="FD2018Q4YTD"
      decimals="INF"
      id="d5452541e822-wk-Fact-87AF422802293C280EFA5D5D90F6D183"
      unitRef="number">0.020</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
    <us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-B393341867D35F1E4A575D5D91E4CC9A-0-wk-Fact-60B9D2A0ABE8D67190B75D5D91ADEEE4">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of aggregate SARs award activity under the Plan as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July 31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="10"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:36%;"/&gt;&lt;td style="width:15%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:14%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Exercise Price&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Remaining&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Contractual Term&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Aggregate&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Intrinsic&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at August 1, 2017&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;2,290&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;59.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;86&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;237.86&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(1,049&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;33.25&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(3&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;172.03&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2018&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,324&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;91.01&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;293.82&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(219&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;49.09&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(14&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217.58&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,171&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;111.12&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;245.26&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercised&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(247&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;67.19&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited or expired&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(9&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;)&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;252.75&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;span style="font-family:inherit;font-size:8pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,061&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;138.59&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;5.0 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested and expected to vest at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,042&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;136.66&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.9 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Exercisable at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;846&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;108.73&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;4.1 years&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;75,736&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2017Q4"
      decimals="-3"
      id="d5452541e998-wk-Fact-79BDBB6D52E11C84F3335D5D90D26837"
      unitRef="shares">2290000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice
      contextRef="FI2017Q4"
      decimals="2"
      id="d5452541e1012-wk-Fact-DCEEA59ADEFD661301BC5D5D91B4F5B9"
      unitRef="usdPerShare">59.12</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5452541e1047-wk-Fact-B3128A5A4A18F6CE46C95D5D90D88C9B"
      unitRef="shares">86000</mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5452541e1061-wk-Fact-3EB0D6A00D3327A8C4DC5D5D90D4D76A"
      unitRef="usdPerShare">237.86</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice>
    <mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5452541e1096-wk-Fact-5512EEE9E8C04FCBD7145D5D90CDDBEE"
      unitRef="shares">1049000</mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5452541e1111-wk-Fact-9C6DF8B2EFB8213F978A5D5D90C8C925"
      unitRef="usdPerShare">33.25</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod
      contextRef="FD2018Q4YTD"
      decimals="-3"
      id="d5452541e1146-wk-Fact-1015F959CDE1E8185DF35D5D91B786A2"
      unitRef="shares">3000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
      contextRef="FD2018Q4YTD"
      decimals="2"
      id="d5452541e1161-wk-Fact-74B64EB2A7A5766A94305D5D91AFA43F"
      unitRef="usdPerShare">172.03</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2018Q4"
      decimals="-3"
      id="d5452541e1196-wk-Fact-C664DA75208F3605D6385D5D91BB1A5B"
      unitRef="shares">1324000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice
      contextRef="FI2018Q4"
      decimals="2"
      id="d5452541e1210-wk-Fact-3D1D56023C43B66B175D5D5D91BFFD98"
      unitRef="usdPerShare">91.01</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5452541e1245-wk-Fact-BF962AF0CE24971C2F7D5D5D90C972D2"
      unitRef="shares">80000</mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5452541e1259-wk-Fact-C7B0063ED37BD87582545D5D91A5559F"
      unitRef="usdPerShare">293.82</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice>
    <mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5452541e1294-wk-Fact-CAF9A4D8EECAB51F04775D5D91C1C73D"
      unitRef="shares">219000</mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5452541e1309-wk-Fact-CAEF5766A45ECF0EF8825D5D90CE1A6B"
      unitRef="usdPerShare">49.09</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod
      contextRef="FD2019Q4YTD"
      decimals="-3"
      id="d5452541e1344-wk-Fact-AC0CA390DD4EF8410BFC5D5D90D042AE"
      unitRef="shares">14000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
      contextRef="FD2019Q4YTD"
      decimals="2"
      id="d5452541e1359-wk-Fact-2BD689C146DACEECC2B85D5D91B9B77E"
      unitRef="usdPerShare">217.58</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2019Q4"
      decimals="-3"
      id="d5452541e1394-wk-Fact-BACFA2017CD8691A60CE5D5D90C95381"
      unitRef="shares">1171000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice
      contextRef="FI2019Q4"
      decimals="2"
      id="d5452541e1408-wk-Fact-A23D65F6FAC070AA3B125D5D91B90E2A"
      unitRef="usdPerShare">111.12</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5452541e1443-wk-Fact-9A45B3D4622B914914E25D5D91BDD0F1"
      unitRef="shares">146000</mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5452541e1457-wk-Fact-84114C979F20C85992235D5D90C88FF6"
      unitRef="usdPerShare">245.26</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice>
    <mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5452541e1493-wk-Fact-D627F60626D9B89C9C935D5D91BCB2D4"
      unitRef="shares">247000</mtn:StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5452541e1508-wk-Fact-7300FEFB160F8C7EBC415D5D90C9C886"
      unitRef="usdPerShare">67.19</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod
      contextRef="FD2020Q4YTD"
      decimals="-3"
      id="d5452541e1543-wk-Fact-B0E1521BF58F99D13B045D5D91AFB73E"
      unitRef="shares">9000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5452541e1558-wk-Fact-E15DD8ACA0AF73424E295D5D90CCB14E"
      unitRef="usdPerShare">252.75</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1593-wk-Fact-9877C75C5A2605E8B66E5D5D91B3B7B9"
      unitRef="shares">1061000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice
      contextRef="FI2020Q4"
      decimals="2"
      id="d5452541e1607-wk-Fact-EC43DE8AF4AC5F9293B35D5D90CC5C17"
      unitRef="usdPerShare">138.59</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm
      contextRef="FD2020Q4YTD"
      id="d5452541e1616-wk-Fact-7EC805AB4A6BF11CBB0F5D5D90D1AE0E">P5Y</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1626-wk-Fact-6964C4917330BCD91DC35D5D91C13FFB"
      unitRef="usd">75736000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1641-wk-Fact-CDDA1E96C41BD54759EF5D5D90C94007"
      unitRef="shares">1042000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
      contextRef="FI2020Q4"
      decimals="2"
      id="d5452541e1655-wk-Fact-7BED1F6121BDED61CA355D5D90D1E37B"
      unitRef="usdPerShare">136.66</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
      contextRef="FD2020Q4YTD"
      id="d5452541e1664-wk-Fact-B5FCE1D30648ED50AB725D5D91BAB11F">P4Y10M24D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1674-wk-Fact-C2B6901565E548F95E3F5D5D91B5B9E3"
      unitRef="usd">75736000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1689-wk-Fact-0F011DE9936937536AC85D5D90CD9614"
      unitRef="shares">846000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice
      contextRef="FI2020Q4"
      decimals="2"
      id="d5452541e1703-wk-Fact-F84481D6502EE0B7AA945D5D90CF33C8"
      unitRef="usdPerShare">108.73</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm
      contextRef="FD2020Q4YTD"
      id="d5452541e1712-wk-Fact-7FA84CA9AF590AC52F475D5D90DB76DB">P4Y1M6D</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue
      contextRef="FI2020Q4"
      decimals="-3"
      id="d5452541e1722-wk-Fact-2D91D597C3B3249D5CEA5D5D91BB5143"
      unitRef="usd">75736000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1755-wk-Fact-BD16841D239727125B005D5D91BC2554"
      unitRef="usdPerShare">58.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1759-wk-Fact-E1B696CE6CD2D0BD341E5D5D919477BB"
      unitRef="usdPerShare">98.19</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1764-wk-Fact-C41CE25C4DAC5181F7B35D5D91A81003"
      unitRef="usdPerShare">78.07</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1780-wk-Fact-B065A57D2A1CC14D3B9D5D5D91A59BC4"
      unitRef="usd">35000000.0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1784-wk-Fact-BCEBAA53F09C3F5DE1CF5D5D91B4255F"
      unitRef="usd">41200000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1789-wk-Fact-32C8FDFD5AE2AF5BD5C55D5D91A2295A"
      unitRef="usd">213800000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="0"
      id="d5452541e1793-wk-Fact-894A9BF18587C22BEEC15D5D91ADC0D4"
      unitRef="shares">91000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="0"
      id="d5452541e1797-wk-Fact-D1C9BCDF66AC6267BE405D5D918F62BF"
      unitRef="shares">131000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="0"
      id="d5452541e1801-wk-Fact-DD030D1D45CD54E8B5685D5D91BDA092"
      unitRef="shares">169000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1818-wk-Fact-620007FF26E45BAC91C65D5D91B89401"
      unitRef="usd">2600000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1822-wk-Fact-E4330C8F408E1A0E42FE5D5D91BADA0D"
      unitRef="usd">15200000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
    <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-5"
      id="d5452541e1826-wk-Fact-C923E30C03FFC50A574F5D5D919F2F9B"
      unitRef="usd">18500000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
    <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-8F86A1E6B6C5B077B9695D5D91E4FFCE-0-wk-Fact-6E60A12D94EB20A3ED0E5D5D91A73C6E">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of the status of the Company&#x2019;s nonvested SARs as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and changes during the year then ended is presented below (in thousands, except fair value amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:64%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Grant-Date&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Outstanding at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;168&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;80.75&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;146&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;58.25&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(91)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;71.57&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(8)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;79.23&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;215&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;69.45&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-3"
      id="d5452541e1913-wk-Fact-49D6EF13EA0E457A4B345D5D91A7A60F"
      unitRef="shares">168000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue
      contextRef="FI2019Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1923-wk-Fact-82233439833D73E7339B5D5D91A764E9"
      unitRef="usdPerShare">80.75</mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementSarsGrantsInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-3"
      id="d5452541e1938-wk-Fact-EAEE4D8083789DD2FFCE5D5D91B183F6"
      unitRef="shares">146000</mtn:ShareBasedCompensationArrangementSarsGrantsInPeriod>
    <mtn:ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1948-wk-Fact-0149C8FC7BF18421D9C15D5D91ACAFC1"
      unitRef="usdPerShare">58.25</mtn:ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementSarsVestedInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-3"
      id="d5452541e1963-wk-Fact-5707C30FADB72E5175765D5D91AC5AFF"
      unitRef="shares">91000</mtn:ShareBasedCompensationArrangementSarsVestedInPeriod>
    <mtn:ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1973-wk-Fact-3EB385B8828F1DBA7A4E5D5D90CA39BF"
      unitRef="usdPerShare">71.57</mtn:ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-3"
      id="d5452541e1988-wk-Fact-8900349A7FBA4AA31AAB5D5D91BC1266"
      unitRef="shares">8000</mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriod>
    <mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e1998-wk-Fact-30660E961E31393A4F3A5D5D91AEF758"
      unitRef="usdPerShare">79.23</mtn:ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber
      contextRef="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="-3"
      id="d5452541e2013-wk-Fact-7570B53271D6B2D680305D5D91A2E1B3"
      unitRef="shares">215000</mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber>
    <mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue
      contextRef="FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember"
      decimals="2"
      id="d5452541e2023-wk-Fact-A8A7DD1AE1FA5084166F5D5D91B05786"
      unitRef="usdPerShare">69.45</mtn:ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue>
    <us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-D32AEBC08B0824C5CB485D5D91E36C29-0-wk-Fact-6EFCCF3DF71BD37604785D5D91BE83F8">&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;A summary of the status of the Company&#x2019;s nonvested restricted share units as of &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and changes during the year then ended is presented below (in thousands, except fair value amounts):&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="5"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:64%;"/&gt;&lt;td style="width:18%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;td style="width:16%;"/&gt;&lt;td style="width:1%;"/&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Awards&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Weighted-Average&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Grant-Date&lt;/span&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Fair Value&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2019&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;126&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;230.10&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Granted&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;83&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;217.46&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Vested&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(63)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;216.07&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Forfeited&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;(16)&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;229.97&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Nonvested at July 31, 2020&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"&gt;&lt;div style="text-align:center;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;130&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;$&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;228.77&lt;/span&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;br/&gt;&lt;/span&gt;&lt;/div&gt;</us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber
      contextRef="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-3"
      id="d5452541e2112-wk-Fact-F2BEDC1331081AE5485B5D5D91AF14D3"
      unitRef="shares">126000</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue
      contextRef="FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2122-wk-Fact-DCB4CAB18AB88E9A568C5D5D91A9778C"
      unitRef="usdPerShare">230.10</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-3"
      id="d5452541e2137-wk-Fact-FB2C8F11EC2195C4DC035D5D91AF9726"
      unitRef="shares">83000</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod>
    <mtn:ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2147-wk-Fact-4BA8B1F144666C0D56805D5D91A58219"
      unitRef="usdPerShare">217.46</mtn:ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue>
    <mtn:NumberOfRestrictedStockUnitsVestedDuringPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-3"
      id="d5452541e2162-wk-Fact-4ED5A7AE70A76B85358E5D5D9196FE13"
      unitRef="shares">63000</mtn:NumberOfRestrictedStockUnitsVestedDuringPeriod>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2172-wk-Fact-42CF126059780CEF3F685D5D91A8CC07"
      unitRef="usdPerShare">216.07</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-3"
      id="d5452541e2187-wk-Fact-53F5EA20662774637A885D5D91A55C68"
      unitRef="shares">16000</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2197-wk-Fact-F1B973260B01EAACF4185D5D91A299CA"
      unitRef="usdPerShare">229.97</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber
      contextRef="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-3"
      id="d5452541e2212-wk-Fact-B08A3DFEA01A9D8749635D5D91AD5B8D"
      unitRef="shares">130000</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber>
    <mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue
      contextRef="FI2020Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2222-wk-Fact-6C1EF6DD9C782622C3EE5D5D919DF9C5"
      unitRef="usdPerShare">228.77</mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2245-wk-Fact-820441D1B24C91DC16C35D5D90CAC2F9"
      unitRef="shares">83000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2253-wk-Fact-50114CA875D456E031955D5D91AC40C6"
      unitRef="usdPerShare">217.46</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2257-wk-Fact-C960CEE175531F6AC06A5D5D919AF3C6"
      unitRef="shares">68000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2266-wk-Fact-477C4FCF0C3A224B49705D5D91AD4B71"
      unitRef="usdPerShare">264.44</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2270-wk-Fact-55371BC677DF7A7A22795D5D91B6FF6D"
      unitRef="shares">77000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="2"
      id="d5452541e2278-wk-Fact-6723547B5E03DD146C655D5D90C83DDF"
      unitRef="usdPerShare">215.14</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2282-wk-Fact-698C134011929047DBD45D5D90CA48A7"
      unitRef="shares">63000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2286-wk-Fact-A9D2072B75225D1EA2865D5D91B0E244"
      unitRef="shares">102000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="INF"
      id="d5452541e2291-wk-Fact-F337C17FD6AF98DB23385D5D91B6BCE3"
      unitRef="shares">101000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
      contextRef="FD2020Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-5"
      id="d5452541e2307-wk-Fact-E31ACB120143740532CB5D5D91A7504D"
      unitRef="usd">14800000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
      contextRef="FD2019Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-5"
      id="d5452541e2312-wk-Fact-B53B0BAA791DDA594D995D5D90CB4833"
      unitRef="usd">28800000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
    <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
      contextRef="FD2018Q4YTD_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember"
      decimals="-5"
      id="d5452541e2316-wk-Fact-BC0EB19790357ED78E9C5D5D91B10B78"
      unitRef="usd">23500000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue>
    <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
      contextRef="FI2020Q4"
      decimals="-5"
      id="d5452541e2339-wk-Fact-3880181D5029DD09179B5D5D91B2DED7"
      unitRef="usd">25900000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
    <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
      contextRef="FI2021Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember"
      decimals="-5"
      id="d5452541e2343-wk-Fact-7D446ABB00E4D10263575D5D91A016CA"
      unitRef="usd">15700000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
    <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
      contextRef="FI2022Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember"
      decimals="-5"
      id="d5452541e2347-wk-Fact-9E4E3D7FA63248EA3D9D5D5D91B25364"
      unitRef="usd">9000000.0</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
    <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
      contextRef="FI2023Q4_mtn_UnrecognizedCompensationExpenseAxis_mtn_ExpectedToBeRecognizedInOneYearMember_srt_StatementScenarioAxis_srt_ScenarioForecastMember"
      decimals="-5"
      id="d5452541e2351-wk-Fact-A179625F9A6A90E3F7C75D5D91A420F6"
      unitRef="usd">1200000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5452541e2368-wk-Fact-6DAFB2EC2A499FC718305D5D91AC84F8"
      unitRef="usd">12300000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5452541e2372-wk-Fact-E2A854779260C3F131D45D5D9191052E"
      unitRef="usd">16300000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions>
    <us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5452541e2376-wk-Fact-87070399167877E900FB5D5D91B81B2F"
      unitRef="usd">79700000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions>
    <mtn:RetirementAndProfitSharingTextBlock
      contextRef="FD2020Q4YTD"
      id="TextSelection-96B05122A54538D48C545D5D91E48EDE-0-wk-Fact-3F50840CF6F2F3D4A09D5D5D90CE7B31">Retirement and Profit Sharing Plans&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;The Company maintains a defined contribution retirement plan (the &#x201c;Retirement Plan&#x201d;), qualified under Section&#160;401(k) of the Internal Revenue Code, for its U.S. employees. Under this Retirement Plan, U.S. employees are eligible to make before-tax contributions on the first day of the calendar month following the later of: (i)&#160;their employment commencement date or (ii)&#160;the date they turn &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;21&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;. Participants may contribute&#160;up to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;100%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&#160;of their qualifying annual compensation up to the annual maximum specified by the Internal Revenue Code. When the Company participates in 401(k) contribution matching, it matches an amount equal to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;50%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of each participant&#x2019;s contribution up to &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;6%&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; of a participant&#x2019;s bi-weekly&#160;qualifying compensation starting the pay period containing the first day of the month after obtaining the later of: (i)&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;12&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; months of employment with at least &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,000&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; service hours from the commencement date or (ii) if &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;1,000 hours&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; within the first &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;12 months&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was not completed, then after the employee completed a cumulative&#160;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;1,500&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; service hours. On April 1, 2020, the Company announced a temporary six month suspension of its 401(k) contribution matching as a result of the impacts of the COVID-19 pandemic and resulting resort closures. Additionally, the Company&#x2019;s matching contribution is entirely discretionary and may be reduced or eliminated at any time. &lt;/span&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;Total Retirement Plan expense recognized by the Company for the years ended &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;July&#160;31, 2020&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2019&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;2018&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; was &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$5.8 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$7.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt; and &lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;&lt;span&gt;$6.9 million&lt;/span&gt;&lt;/span&gt;&lt;span style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/span&gt;&lt;/div&gt;</mtn:RetirementAndProfitSharingTextBlock>
    <mtn:DefinedContributionPlanEmployeeContributionPercentage
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5450905e684-wk-Fact-D81BEB8C7B92CD5074BF5D5D90D2B321"
      unitRef="number">1</mtn:DefinedContributionPlanEmployeeContributionPercentage>
    <us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5450905e688-wk-Fact-FAE27A827991A19C80DB5D5D90CB4A7B"
      unitRef="number">0.50</us-gaap:DefinedContributionPlanEmployerMatchingContributionPercent>
    <mtn:DefinedContributionPlanEmployerContributionPercentage
      contextRef="FD2020Q4YTD"
      decimals="2"
      id="d5450905e692-wk-Fact-B2954DA1C3E9C1D54ECA5D5D90CAA4AD"
      unitRef="number">0.06</mtn:DefinedContributionPlanEmployerContributionPercentage>
    <mtn:DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths
      contextRef="FD2020Q4YTD"
      id="d5450905e696-wk-Fact-56A24A561E19FD301E6E5D5D90D414C1">P12M</mtn:DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths>
    <mtn:DefinedContributionPlanIndividualRequisiteServicePeriodInHours
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5450905e701-wk-Fact-B588EF0BC2E1BCFECC2F5D5D90D65A5E"
      unitRef="hour">1000</mtn:DefinedContributionPlanIndividualRequisiteServicePeriodInHours>
    <mtn:DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours
      contextRef="FD2020Q4YTD"
      decimals="INF"
      id="d5450905e713-wk-Fact-5AA023FCC6CE3D1A6AFC5D5D91BD8D31"
      unitRef="hour">1500</mtn:DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours>
    <us-gaap:DefinedContributionPlanCostRecognized
      contextRef="FD2020Q4YTD"
      decimals="-5"
      id="d5450905e732-wk-Fact-C77857B652899A7F2AF95D5D90CA5EF3"
      unitRef="usd">5800000</us-gaap:DefinedContributionPlanCostRecognized>
    <us-gaap:DefinedContributionPlanCostRecognized
      contextRef="FD2019Q4YTD"
      decimals="-5"
      id="d5450905e736-wk-Fact-072447A0D70DE90FB8965D5D90CD8690"
      unitRef="usd">7900000</us-gaap:DefinedContributionPlanCostRecognized>
    <us-gaap:DefinedContributionPlanCostRecognized
      contextRef="FD2018Q4YTD"
      decimals="-5"
      id="d5450905e741-wk-Fact-665B1F531DA1AB9E4AE05D5D90DE1149"
      unitRef="usd">6900000</us-gaap:DefinedContributionPlanCostRecognized>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773696488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
<td class="text"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> Summary of Significant Accounting Policies</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Principles of Consolidation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The accompanying Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries for which the Company has a controlling financial interest. Investments in which the Company does not have a controlling financial interest, but has significant influence, are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Cash and Cash Equivalents &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Restricted Cash &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers cash to be restricted when withdrawal or general use is legally restricted. During peak operations of the North American ski season, the Company&#8217;s restricted cash balance is primarily associated with customer reservations deposits that are required to be held in a trust pursuant to statutory requirements until such reservations are fulfilled.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounts receivable &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Inventories &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or net realizable value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant and Equipment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in income from operations. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"/></tr><tr><td style="width:78%;"/><td style="width:22%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated&#160;Life</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">in Years</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10-35</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7-30</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2-30</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Real Estate Held for Sale and Investment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs. Sales and marketing expenses are charged against income in the period incurred. Additionally, sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Deferred Financing Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Certain costs incurred with the issuance of debt and debt securities are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. When debt is extinguished prior to its maturity date, the amortization of the remaining unamortized deferred financing costs, or pro-rata portion thereof, is charged to loss on extinguishment of debt.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill and Intangible Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company has classified as goodwill the cost in excess of estimated fair value of the net assets of businesses acquired in purchase transactions. The Company&#8217;s major intangible asset classes are trademarks, water rights, customer lists, property management contracts and Forest Service permits. Goodwill and various indefinite-lived intangible assets, including certain trademarks, water rights and certain property management contracts, are not amortized but are subject to at least annual impairment testing. The Company tests these non-amortizing assets annually (or more often, if necessary) for impairment as of May&#160;1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The testing for impairment consists of a comparison of the estimated fair value of the assets with their net carrying values. If the net carrying amount of the assets exceed its estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess. If the net carrying amount of the assets does not exceed the estimated fair value, no impairment loss is recognized. For the testing of goodwill and other indefinite-lived intangible assets for impairment, the Company performs a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount, which includes an evaluation as to whether there have been significant changes to macro-economic factors related to the reporting unit or intangible asset that could materially impact fair value. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset is more likely than not less than carrying amount, a quantitative impairment test would be required, in which the Company would determine the estimated fair value of its reporting units using discounted cash flow analyses and determine the estimated fair value of its indefinite-lived intangible assets using an income approach. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the coronavirus (COVID-19) pandemic and the impact it has had on the Company&#8217;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. As further discussed in Note 8, the Company recognized an impairment of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$28.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> related to its Colorado resort ground transportation company during the year ended July 31, 2020, which was recorded within asset impairments on the Company&#8217;s Consolidated Statement of Operations, with a corresponding reduction to goodwill, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$25.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and to intangible assets, net and property, plant and equipment, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.7 million</span></span><span style="font-family:inherit;font-size:10pt;">. See Note 8, Supplementary Balance Sheet Information, for additional information. The Company determined that there were no other impairments of goodwill, definite and indefinite-lived assets for the years ended July 31, 2020, and that there was </span><span style="font-family:inherit;font-size:10pt;"><span>no</span></span><span style="font-family:inherit;font-size:10pt;"> impairment to goodwill and no material impairment to definite or indefinite-lived intangible assets for the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Long-lived Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the net carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the net carrying amount of the asset, an impairment loss is recognized in the amount by which the net carrying amount of the asset exceeds its estimated fair value. As discussed above, the Company recorded an impairment to long-lived assets related to its Colorado resort ground transportation company during the year ended July 31, 2020. The Company determined that there were no other impairments of long-lived assets for the year ended July 31, 2020, and determined there was no impairment of the net carrying amount of a long-lived asset occurred during the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s significant accounting policies with regard to revenue recognition are discussed in Note 3, Revenues.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Real Estate Cost of Sales &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and sales commission expense. The Company utilizes the relative sales value method to determine cost of sales for condominium units sold within a project when specific identification of costs cannot be reasonably determined. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Translation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The functional currency of the Company&#8217;s entities operating outside of the United States is the principal currency of the economic environment in which the entity primarily generates and expends cash, which is generally the local currency. The assets and liabilities of these foreign operations are translated at the exchange rate in effect as of the balance sheet dates. Income and expense items are translated using the weighted average exchange rate for the period. Translation adjustments from currency exchange, including intercompany transactions of a long-term nature, are recorded in accumulated other comprehensive loss as a separate component of stockholders&#8217; equity. Intercompany transactions that are not of a long-term nature are reported as gains and losses within &#8220;segment operating expense&#8221; and for intercompany loans within foreign currency loss on intercompany loans on the Company&#8217;s Consolidated Statements of Operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reserve Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company uses estimates to record reserves for certain liabilities, including medical claims, workers&#8217; compensation claims, third-party loss contingencies and property taxes, among other items. The Company estimates the probable costs related to these liabilities that will be incurred and records that amount as a liability in its Consolidated Financial Statements. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, the Company records, as applicable, receivables related to insurance recoveries for loss contingencies if deemed probable of recovery. These estimates are reviewed and adjusted as the facts and circumstances change. The Company records legal costs related to defending claims as incurred.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Advertising Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$41.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$44.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$39.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, and was recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statement of Operations. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Income tax expense includes U.S. tax (federal and state) and foreign income taxes. The Company&#8217;s provision for income taxes is based on pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carrybacks or carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company&#8217;s deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is &#8220;more-likely-than-not&#8221; to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the largest tax benefit that is cumulatively greater than </span><span style="font-family:inherit;font-size:10pt;">50%</span><span style="font-family:inherit;font-size:10pt;"> likely of being realized upon ultimate settlement. Interest and penalties accrued in connection with uncertain tax positions are recognized as a component of income tax expense. See Note 11 &#8220;Income Taxes&#8221; for more information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value of Financial Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The recorded amounts for cash and cash equivalents, restricted cash, receivables, other current assets and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Company&#8217;s credit agreements and the Employee Housing Bonds (as defined in Note 6, Long-Term Debt) approximate book value due to the variable nature of the interest rate, which is a market rate, associated with the debt. The estimated fair value of the 6.25% Notes (as defined in Note 6, Long-Term Debt) is based on quoted market prices (a Level 2 input). The estimated fair value of the EPR Secured Notes and EB-5 Development Notes (each as defined in Note 6, Long-Term Debt), have been estimated using analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input). The carrying values, including any unamortized premium or discount, and estimated fair values of the 6.25% Notes, EPR Secured Notes and EB-5 Development Notes as of July 31, 2020 are presented below (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Carrying Value</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>600,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>643,500</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>137,314</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>150,628</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,833</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,212</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Stock-Based Compensation &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Stock-based compensation expense is measured at the grant date based upon the estimated fair value of the award and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17 &#8220;Stock Compensation Plan&#8221; for more information), less the amount of forfeited awards which are recorded as they occur. The following table shows total net stock-based compensation expense for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> included in the Consolidated Statements of Operations (in thousands):</span><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain stock-based compensation expense</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,410</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,474</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,716</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,399</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,219</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,215</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>212</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>163</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pre-tax stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,021</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,856</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,040</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: benefit from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,027</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,589</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,406</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net stock-based compensation expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,994</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,267</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,634</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high-</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">quality credit institutions. The Company does not enter into financial instruments for trading or speculative purposes. Concentration of credit risk with respect to accounts and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting for Hedging Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> From time to time, the Company enters into interest rate swaps (the &#8220;Interest Rate Swaps&#8221;) to hedge the variability in cash flows associated with variable-rate borrowings by converting the floating interest rate to a fixed interest rate. As of July 31, 2020, the Company hedged the future cash flows associated with </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> of the principal amount outstanding of its Vail Holdings Credit Agreement (as defined in Note 6 &#8220;Long-Term Debt&#8221;), which were designated as cash flow hedges. The accounting for changes in fair value of hedging instruments depends on the effectiveness of the hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Company to risks associated with market fluctuations and the financial instrument used must reduce the Company&#8217;s exposure to market fluctuation throughout the hedge period. Changes in estimated fair value of the Interest Rate Swaps are recorded within change in estimated fair value of hedging instruments on the Company&#8217;s Consolidated Statements of Comprehensive Income, and such change was recorded as a loss of </span><span style="font-family:inherit;font-size:10pt;"><span>$22.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> during the year ended July 31, 2020. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. As of July 31, 2020, the estimated fair value of the Interest Rate Swaps was a liability of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$22.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> and was recorded within other long-term liabilities on the Company&#8217;s Consolidated Balance Sheet, and the impact of the underlying cash flows associated with the Interest Rate Swaps are recorded within interest expense, net on the Company&#8217;s Consolidated Statements of Operations. See Note 10 &#8220;Fair Value Measurements&#8221; for more information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Leases &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there is one or more assets identified and the right to control the use of any identified asset is conveyed to the Company for a period of time in exchange for consideration. Control over the use of an identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Generally, the Company classifies a lease as a finance lease if the terms of the agreement effectively transfer control of the underlying asset; otherwise, it is classified as an operating lease.&#160;For contracts that contain lease and non-lease components, the Company accounts for these components separately. For leases with terms greater than twelve months, the associated lease right-of-use (&#8220;ROU&#8221;) assets and lease liabilities are recognized at the estimated present value of future lease payments over the lease term at commencement date. The Company&#8217;s leases do not provide a readily determinable implicit rate; therefore, the Company uses an estimated incremental borrowing rate to discount the future minimum lease payments. For leases containing fixed rental escalation clauses, the escalators are factored into the determination of future minimum lease payments. The Company includes options to extend a lease when it is reasonably certain that such options will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. See&#160;Note 4 &#8220;Leases&#8221; for more information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recently Issued Accounting Standards</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Adopted Standards</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In February 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, &#8220;Leases (Topic 842),&#8221; which supersedes &#8220;Leases (Topic 840).&#8221; The standard requires lessees to recognize the assets and liabilities arising from all leases on the balance sheet, including those classified as operating leases under previous accounting guidance, and to disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of twelve months or less. Under the new guidance, lessees are required to recognize a lease liability and an ROU asset on their balance sheets, while lessor accounting is largely unchanged. In July 2018, the FASB released ASU No. 2018-11, &#8220;Leases (Topic 842): Targeted Improvements&#8221; which, among other items, provided an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company adopted ASU No. 2016-02 on August 1, 2019 using the modified retrospective transition method as provided by the standard. In accordance with this transition method, results for reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">applicable accounting guidance. The Company has elected the package of practical expedients permitted under the transition guidance which allowed the Company to not reassess: (i) whether any existing or expired contracts are or contain leases; (ii) lease classification of any expired or existing leases; or (iii) initial direct costs for any existing leases. The Company has made an accounting policy election to not record leases on the balance sheet with an initial term of twelve months or less. The Company will recognize those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. Additionally, the Company has elected the practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases. At adoption, the Company was not able to determine the interest rate implicit in its leases; therefore, for existing operating leases, the lease liability was measured using the Company&#8217;s estimated incremental borrowing rate. For existing leases, the incremental borrowing rate used was based on the remaining lease term at the adoption date. For leases with minimum lease payments adjusted periodically for inflation, the lease liability was measured using the minimum lease payments adjusted by the inflation index at the adoption date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On August 1, 2019, as a result of adopting the standard, the Company recorded </span><span style="font-family:inherit;font-size:10pt;"><span>$221.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of operating ROU assets and </span><span style="font-family:inherit;font-size:10pt;"><span>$254.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of related total operating lease liabilities in the Consolidated Balance Sheet (of which </span><span style="font-family:inherit;font-size:10pt;"><span>$219.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in operating lease liabilities and </span><span style="font-family:inherit;font-size:10pt;"><span>$34.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in accounts payable and accrued liabilities). As a result of the adoption, the Company reclassified </span><span style="font-family:inherit;font-size:10pt;"><span>$32.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> of unfavorable lease obligations, deferred rent credits and other related amounts to the operating ROU assets balance, primarily from other long-term liabilities, which reduced the amount recognized as operating ROU assets to </span><span style="font-family:inherit;font-size:10pt;"><span>$221.8 million</span></span><span style="font-family:inherit;font-size:10pt;">. The adoption of the new lease standard did not result in a cumulative effect adjustment to beginning retained earnings, and did not materially affect the Company&#8217;s Consolidated Statement of Operations or Consolidated Statement of Cash Flows for the year ended July 31, 2020. The Company&#8217;s Canyons finance lease was not affected by the implementation of this standard as the arrangement is classified and recorded as a finance lease arrangement under both the previous and new accounting guidance.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In April 2020, the FASB issued clarifying guidance on accounting for certain lease concessions related to the effects of the COVID-19 pandemic under ASC Topic 842, allowing companies to make an election to either account for such lease concessions (i) in the period that they occur as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract) or (ii) ratably over the remainder of the lease term as modifications to the contract. The Company made a policy election to account for such lease concessions as though enforceable rights and obligations to make those concessions existed in the contracts and as a result, will account for concessions in the period in which they occur. This election did not have a material impact on the Company&#8217;s Consolidated Financial Statements for the year ended July 31, 2020.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Standards Being Evaluated</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2020, the FASB issued ASU 2020-04, &#8220;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#8221; The ASU provides optional transition guidance, for a limited time, to companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (&#8220;LIBOR&#8221;) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 through December 31, 2022. The amendments in this update may be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. All other amendments should be applied on a prospective basis. The Company is in the process of evaluating the effect that the adoption of this standard will have on its Consolidated Financial Statements.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantAccountingPoliciesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAccountingPoliciesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772171464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenues (Notes)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerTextBlock', window );">Revenue from Contract with Customer [Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">3.&#160;&#160;&#160;&#160; Revenues</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following provides information about the Company&#8217;s composition of revenue recognized from contracts with customers and other revenues, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain revenue is derived from a wide variety of sources, including, among other things: lift revenue, which includes sales of lift tickets and pass products; ski school revenue, which includes the revenue derived from ski school operations; dining revenue, which includes both casual and fine dining on-mountain operations; retail sales and equipment rentals; and other on-mountain revenue, which includes private ski club revenue (which includes both club dues and amortization of initiation fees), marketing and internet advertising revenue, municipal services and lodging and transportation operations at the Company&#8217;s Australian ski areas. Revenue is recognized over time as performance obligations are satisfied </span></div></td></tr></table><div style="line-height:120%;padding-left:48px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">as control of the good or service (e.g. access to ski areas, provision of ski school services, etc.) is transferred to the customer, except for the Company&#8217;s retail sales and dining operations revenues which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Company records deferred revenue primarily related to the sale of pass products. Deferred revenue is generally recognized throughout the ski season as the Company&#8217;s performance obligations are satisfied as control of the service (e.g. access to ski areas throughout the ski season) is transferred to the customer. Transfer of control is based on an estimated number of pass product holder visits relative to total expected visits. Total expected visits are estimated based on historical data, and the Company believes this estimate provides a faithful depiction of its customers&#8217; pass product usage. When sufficient historical data to determine usage patterns is not available, such as in the case of new product offerings, deferred revenue is recognized on a straight-line basis throughout the ski season until sufficient historical usage patterns are available. The Company also includes other sources of revenue, primarily related to commercial leasing and employee housing leasing arrangements, within other mountain revenue.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel rooms; revenue from hotel dining operations; transportation revenue which relates to the Company&#8217;s Colorado resort ground transportation operations; and other lodging revenue which includes property management services, managed properties other costs reimbursements, private golf club revenue (which includes both club dues and amortization of initiation fees), and golf course fees. Lodging revenue also includes managed hotel property payroll cost reimbursements related to payroll costs at managed properties where the Company is the employer, which are reimbursed by the owner with no added margin. Therefore, these revenues and corresponding expenses have no net effect on the Company&#8217;s operating income or net income. Other than revenue from dining operations, lodging revenue is mostly recognized over time as performance obligations are satisfied as control of the service (e.g. nightly hotel room access) is transferred to the customer. </span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate revenue primarily relates to the sale of development land parcels. Real estate revenue is generally recognized at a point in time when performance obligations have been satisfied, which is usually upon closing of the sales transaction and in an amount that reflects the consideration to which the Company expects to be entitled.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For certain contracts that have an original term length of one year or less, the Company uses the practical expedient applicable to such contracts and does not consider the time value of money. For contracts with an expected term in excess of one year, the Company has considered the provisions of Topic 606 in determining whether contracts contain a financing component. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company presents revenues in the accompanying Consolidated Statements of Operations, net of taxes, when collected from its customers that are remitted or payable to government taxing authorities, except when products are inclusive of taxes where applicable.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic, the Company closed its North American destination mountain resorts, regional ski areas and retail stores beginning on March 15, 2020. To encourage the Company&#8217;s pass product holders to renew their pass purchases for next season following the closures this past spring, the Company announced a credit offer on April 27, 2020 for existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#8220;Credit Offer&#8221;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for 2019/2020 season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 North American ski season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. For accounting purposes, the Credit Offer constituted a material right to existing 2019/2020 pass product holders to which the Company allocated a transaction price of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$120.9 million</span></span><span style="font-family:inherit;font-size:10pt;">. As a result, the Company deferred </span><span style="font-family:inherit;font-size:10pt;"><span>$120.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of pass product revenue, which would have been recognized as lift revenue during the year ended July 31, 2020. The Company expects to recognize the revenue associated with the Credit Offer in the second and third fiscal quarters of the fiscal year ending July 31, 2021 or the second and third fiscal quarters of the fiscal year ending July 31, 2022. While the Company expects most of this revenue to be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage for the 2020/2021 ski season and is eligible to utilize their credit toward the purchase of a pass product for the 2021/2022 ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. In addition, as a result of the pass product revenue deferral, the Company also deferred approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$2.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of the associated costs of obtaining a contract (primarily credit card processing fees), which will be recognized commensurate with the associated deferred revenue.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated the standalone selling price of the Credit Offer by utilizing historical pass holder renewal data to estimate the total amount of credits that are expected to be redeemed. Estimates and assumptions made regarding expected renewal rates impacted the estimate of the transaction price allocated to the Credit Offer and could vary materially from the amount of revenue deferred depending upon actual customer redemptions.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Disaggregation of Revenues</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents net revenues disaggregated by segment and major revenue type for the years ended July 31, 2020, 2019 and 2018 (in thousands):</span></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"/></tr><tr><td style="width:58%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain net revenue:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>913,091</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,033,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>880,293</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski School</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,131</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,060</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,910</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>160,763</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>181,837</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/Rental</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,299</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>320,267</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>296,466</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>177,159</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>205,803</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>194,851</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,710,443</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,956,201</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,722,922</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging net revenue:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;Owned hotel rooms</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,992</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>64,826</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>65,252</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Managed condominium rooms</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76,480</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86,236</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,198</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,252</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,730</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48,554</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transportation</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,796</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,275</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,111</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Golf</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,412</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,648</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,110</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,933</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>54,617</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,577</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>237,865</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>300,332</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,802</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payroll cost reimbursements</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,549</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,841</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Lodging net revenue </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>248,414</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,662</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>284,643</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,958,857</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,270,863</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,007,565</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Real Estate net revenue</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,847</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>712</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,988</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Arrangements with Multiple Performance Obligations</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Several of the Company&#8217;s contracts with customers include multiple performance obligations, primarily related to bundled services such as ski school packages, lodging packages and events (e.g. weddings and conferences). For such contracts, revenue is allocated to each distinct and separate performance obligation based on its relative standalone selling price. The standalone selling prices are generally based on observable prices charged to customers or estimated based on historical experience and information.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Contract Balances</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contract liabilities are recorded primarily as deferred revenues when payments are received or due in advance of the Company&#8217;s performance, including amounts which may be refundable. The deferred revenue balance is primarily related to accounts receivable or cash payments recorded in advance of satisfying the Company&#8217;s performance obligations related to sales of pass products prior to the start of the ski season, private club initiation fees and other related advance purchase products, including advance purchase lift tickets, multiple-day lift tickets, ski school lessons, equipment rentals and lodging advance deposits. Due to the seasonality of the Company&#8217;s operations, its largest deferred revenue balances occur during the North American pass product selling window, which generally begins in the fourth quarter of its fiscal year. Deferred revenue balances of a short-term nature were </span><span style="font-family:inherit;font-size:10pt;"><span>$256.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$335.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, were </span><span style="font-family:inherit;font-size:10pt;"><span>$121.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$124.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. For the year ended July 31, 2020, the Company recognized approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$266.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> of revenue that was included in the deferred revenue balance as of July 31, 2019. As of July 31, 2020, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately </span><span style="font-family:inherit;font-size:10pt;"><span>16</span></span><span style="font-family:inherit;font-size:10pt;"> years. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contract assets are recorded as trade receivables when the right to consideration is unconditional. Trade receivable balances were </span><span style="font-family:inherit;font-size:10pt;"><span>$106.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$270.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 and 2019, respectively. Payments from customers are based on billing terms established in the contracts with customers, which vary by the type of customer, the location and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, contracts require payment before the products are delivered or services are provided to the customer. Impairment losses related </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">to contract assets are recognized through the Company&#8217;s allowance for doubtful accounts analysis. Contract asset write-offs are evaluated on an individual basis.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Costs to Obtain Contracts with Customers</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company expects that credit card fees and sales commissions paid in order to obtain season ski pass products contracts are recoverable. Accordingly, the Company records these amounts as assets when they are paid prior to the start of the ski season. As of July 31, 2020, </span><span style="font-family:inherit;font-size:10pt;"><span>$3.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> of costs to obtain contracts with customers were recorded within other current assets on the Company&#8217;s Consolidated Balance Sheet. Deferred credit card fees and sales commissions are amortized commensurate with the recognition of season ski pass revenue. The Company recorded amortization of </span><span style="font-family:inherit;font-size:10pt;"><span>$11.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$10.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$8.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> for these costs during the years ended July 31, 2020, 2019 and 2018, respectively, which were recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statement of Operations.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Utilizing the practical expedient provided for under Topic 606, the Company has elected to expense credit card fees and sales commissions related to non-season ski pass products and services as incurred, as the amortization period is generally one year or less for the time between customer purchase and utilization. These fees are recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statements of Operations.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -URI http://asc.fasb.org/topic&amp;trid=49130388<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130551-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130556-203045<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130554-203045<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130550-203045<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130554-203045<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130554-203045<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130554-203045<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130558-203045<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130554-203045<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772303800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Notes)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeasesOfLesseeDisclosureTextBlock', window );">Leases of Lessee Disclosure [Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">4.&#160;&#160;&#160;&#160; Leases</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s operating leases consist primarily of commercial and retail space, office space, employee residential units, vehicles and other equipment. The Company determines if an arrangement is or contains a lease at contract inception or modification. The Company&#8217;s lease contracts generally range from&#160;</span><span style="font-family:inherit;font-size:10pt;">1</span><span style="font-family:inherit;font-size:10pt;"> year&#160;to&#160;</span><span style="font-family:inherit;font-size:10pt;">60&#160;years</span><span style="font-family:inherit;font-size:10pt;">, with some lease contracts containing one or more lease extension options, exercisable at the Company&#8217;s discretion. The Company generally does not include these lease extension options in the initial lease term as it is not reasonably certain that it will exercise such options at contract inception. In addition, certain lease arrangements contain fixed and variable lease payments. The variable lease payments are primarily contingent rental payments based on: (i) a percentage of revenue related to the leased property; (ii) payments based on a percentage of sales over contractual levels; or (iii) lease payments adjusted for changes in an index or market value. These variable lease payments are typically recognized when the underlying event occurs and are included in operating expenses in the Company&#8217;s Consolidated Statements of Operations in the same line item as the expense arising from fixed lease payments. The Company&#8217;s lease agreements may also include non-lease components, such as common area maintenance and insurance, which are accounted for separately. Future lease payments that are contingent and non-lease components are not included in the measurement of the operating lease liability. The Company&#8217;s lease agreements do not contain any material residual value guarantees or restrictive covenants. Lease expense related to lease payments is recognized on a straight-line basis over the term of the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s leases do not provide a readily determinable implicit rate. As a result, the Company measures the lease liability using an estimated incremental borrowing rate which is intended to reflect the rate of interest the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The Company applies the estimated incremental borrowing rates at a portfolio level based on the economic environment associated with the lease.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company uses the long-lived assets impairment guidance to determine recognition and measurement of an ROU asset impairment, if any. The Company monitors for events or changes in circumstances that require a reassessment.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of lease expense for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance leases:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortization of the finance ROU assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,753</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on lease liabilities </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,035</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating leases:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease expense</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,303</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Short-term lease expense </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,943</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Variable lease expense </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,583</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:4px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1) Short-term lease expense is attributable to leases with terms of 12 months or less which are not included within the Company&#8217;s Consolidated Balance Sheet.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents the supplemental cash flow information associated with the Company&#8217;s leasing activities for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Cash flow supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for operating leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>55,344</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for finance leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,311</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Financing cash outflows for finance leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,387</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Non-cash supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating ROU assets obtained in exchange for operating lease obligations </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,013</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease terms and discount rates are as follows:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:20%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">As of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average remaining lease term (in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10.6</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42.9</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average discount rate </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.5</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10.0</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future lease payments for operating and finance leases as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year (August 1 through July 31) are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:57%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance Leases </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,013</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,818</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,699</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,394</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,353</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,982</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,431</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,582</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>32,405</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,193</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>137,501</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,773,855</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>333,402</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,923,824</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(79,256</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,577,790</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total lease liabilities </span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>254,146</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>346,034</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The current portion of operating lease liabilities of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$36.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is recorded within accounts payables and accrued liabilities in the Consolidated Balance Sheet. Finance lease liabilities are recorded within long-term debt, net in the Consolidated Balance Sheets.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future minimum lease payments in accordance with Topic 840 as of July 31, 2019, reflected by fiscal year (August 1 through July 31), were as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:57%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Capital Leases</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,984</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,253</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,512</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,818</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>39,440</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,394</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,840</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,982</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,836</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,582</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>142,526</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,805,048</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,138</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,952,077</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,611,816</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net future minimum lease payments</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,261</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Canyons finance lease obligation represents the only material finance lease entered into by the Company and was </span><span style="font-family:inherit;font-size:10pt;"><span>$346.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, which represents the estimated annual lease payments for the remaining initial 50 year term of the lease assuming annual increases at the floor of </span><span style="font-family:inherit;font-size:10pt;">2%</span><span style="font-family:inherit;font-size:10pt;"> and discounted using an interest rate of </span><span style="font-family:inherit;font-size:10pt;">10%</span><span style="font-family:inherit;font-size:10pt;">. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company has recorded </span><span style="font-family:inherit;font-size:10pt;"><span>$117.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of finance lease ROU assets in connection with the Canyons lease, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$65.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of accumulated amortization, which is included within property, plant and equipment, net in the Company&#8217;s Consolidated Balance Sheet.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesOfLesseeDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -URI http://asc.fasb.org/topic&amp;trid=2208923<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasesOfLesseeDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778022680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net Income Per Common Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareReconciliationAbstract', window );"><strong>Earnings Per Share Reconciliation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Net Income Per Common Share</a></td>
<td class="text">Net Income Per Common Share<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Earnings per Share</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic earnings per share (&#8220;EPS&#8221;) excludes dilution and is computed by dividing net income attributable to Vail Resorts stockholders by the weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then share in the earnings of Vail Resorts. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In connection with the Company&#8217;s acquisition of Whistler Blackcomb in October 2016 (see Note 7, Acquisitions), the Company issued consideration in the form of shares of Vail Resorts common stock (the &#8220;Vail Shares&#8221;) and shares of the Company&#8217;s wholly-owned Canadian subsidiary (&#8220;Exchangeco&#8221;). Whistler Blackcomb shareholders elected to receive&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>3,327,719</span></span><span style="font-family:inherit;font-size:10pt;">&#160;Vail Shares and&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>418,095</span></span><span style="font-family:inherit;font-size:10pt;">&#160;shares of Exchangeco (the &#8220;Exchangeco Shares&#8221;). Both Vail Shares and Exchangeco Shares have a par value of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.01</span></span><span style="font-family:inherit;font-size:10pt;">&#160;per share, and Exchangeco Shares, while outstanding, are substantially the economic equivalent of the Vail Shares and are exchangeable, at any time prior to the seventh anniversary of the closing of the acquisition, into Vail Shares. The Company&#8217;s calculation of weighted-average shares outstanding includes the Exchangeco Shares.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Presented below is basic and diluted EPS for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> (in thousands, except per share amounts):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="19"/></tr><tr><td style="width:46%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net income per share:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,227</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,227</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,292</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,292</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,337</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,337</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average Exchangeco shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effect of dilutive securities</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>565</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>809</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total shares</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,838</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,158</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,618</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.42</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9.40</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9.13</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards that were excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled approximately </span><span style="font-family:inherit;font-size:10pt;"><span>2,000</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>4,000</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>2,000</span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Dividends</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company paid cash dividends of </span><span style="font-family:inherit;font-size:10pt;"><span>$5.28</span></span><span style="font-family:inherit;font-size:10pt;"> per share (</span><span style="font-family:inherit;font-size:10pt;"><span>$212.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> in the aggregate). The Company announced on April 1, 2020 that it would be suspending its quarterly dividend for at least the next two quarters, and will be subject to a dividend limitation under the Financial Covenants Temporary Waiver Period of the Vail Holdings Credit Agreement (as defined in Note 6, Long-Term Debt).</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareReconciliationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareReconciliationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109243012&amp;loc=SL65017193-207537<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -URI http://asc.fasb.org/topic&amp;trid=2144383<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773555400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Long-Term Debt</a></td>
<td class="text">Long-Term Debt<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> is summarized as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:52%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Maturity</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>208,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement term loan </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,203,125</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>914,375</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(b)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2025</span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>600,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Whistler Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>58,236</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>45,454</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(d)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2034-2036</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>114,162</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(e)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2021</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>51,500</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Employee housing bonds </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(f)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2027-2039</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(g)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2063</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>346,034</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,261</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(h)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020-2033</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,616</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,465</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,444,248</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,580,130</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Unamortized premiums, discounts and debt issuance costs </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(i)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(6,551</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,870</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Current maturities </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(j)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,677</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48,516</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,387,122</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,527,744</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(a)</span><span style="font-family:inherit;font-size:10pt;">On September 23, 2019, in order to fund the acquisition of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;), which included the prepayment of certain portions of the outstanding debt and lease obligations of Peak Resorts contemporaneous with the closing of the transaction (see Note 7, Acquisitions), the Company&#8217;s wholly-owned subsidiary, Vail Holdings, Inc. (&#8220;VHI&#8221;), entered into the Second Amendment to the Eighth Amended and Restated Credit Agreement (the &#8220;Vail Holdings Credit Agreement&#8221;), with Bank of America, N.A., as administrative agent, and other lenders named therein, through which those lenders agreed to provide an additional </span><span style="font-family:inherit;font-size:10pt;"><span>$335.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> in incremental term loans and agreed, on behalf of all lenders, to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to September 23, 2024. No other material terms of the Vail Holdings Credit Agreement were altered under the amendment. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 28, 2020, VHI, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into a Third Amendment to the Vail Holdings Credit Agreement (the&#160;&#8220;Third Amendment&#8221;). Pursuant to the Third Amendment, among other terms, VHI is exempt from complying with the Vail Holdings Credit Agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless VHI makes a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#8220;Financial Covenants Temporary Waiver Period&#8221;), after which VHI will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by VHI). After the expiration of the Financial Covenants Temporary Waiver Period:</span></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter as follows:</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(A) first full fiscal quarter: 6.25 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(B) second full fiscal quarter: 5.75 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(C) third full fiscal quarter: 5.25 to 1.00; and</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.</span></div><div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. </span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, VHI is required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under the Vail Holdings Credit Agreement revolver) of not less than </span><span style="font-family:inherit;font-size:10pt;"><span>$150.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, during the period that began on July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#8217; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the Lenders):</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed </span><span style="font-family:inherit;font-size:10pt;"><span>$38.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> in any fiscal quarter;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making capital expenditures in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$200.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$300.0 million</span></span><span style="font-family:inherit;font-size:10pt;">;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making investments in non-subsidiaries in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$50.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> in the aggregate; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) </span><span style="font-family:inherit;font-size:10pt;"><span>$2.25 billion</span></span><span style="font-family:inherit;font-size:10pt;"> and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Credit Agreement). </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Vail Holdings Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>$500.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility and a </span><span style="font-family:inherit;font-size:10pt;"><span>$1.2 billion</span></span><span style="font-family:inherit;font-size:10pt;"> outstanding term loan facility. The term loan facility is subject to quarterly amortization of principal of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$15.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> (which began in January&#160;2020), in equal installments, for a total of 5% of principal payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due in September 2024. The proceeds of the loans made under the Vail Holdings Credit Agreement may be used to fund the Company&#8217;s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit, subject to the Financial Covenants Temporary Waiver Period limitations, as discussed above. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>2.66%</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 for $400.0 million of borrowings, and for amounts in excess of $400.0 million in which LIBOR is subject to a floor of 0.75% during the Financial Covenants Temporary Waiver Period, </span><span style="font-family:inherit;font-size:10pt;"><span>3.25%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). Other than as impacted by the provisions in place during the Financial Covenants Temporary Waiver Period, interest rate margins may fluctuate based upon the ratio of the Company&#8217;s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. The Vail Holdings Credit Agreement also includes a quarterly unused commitment fee, which is equal to a percentage determined by the Net Funded Debt to Adjusted EBITDA ratio, as each such term is defined in the Vail Holdings Credit Agreement, multiplied by the daily amount by which the Vail Holdings Credit Agreement commitment exceeds the total of outstanding loans and outstanding letters of credit (</span><span style="font-family:inherit;font-size:10pt;"><span>0.4%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). During the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company entered into various interest rate swap agreements to hedge the LIBOR-based variable interest rate component of underlying cash flows of </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> in principal amount of its Vail Holdings Credit Agreement for the remaining term of the agreement at an effective rate of </span><span style="font-family:inherit;font-size:10pt;"><span>1.46%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(b)</span><span style="font-family:inherit;font-size:10pt;">On May 4, 2020, the Company completed its offering of </span><span style="font-family:inherit;font-size:10pt;"><span>$600 million</span></span><span style="font-family:inherit;font-size:10pt;"> aggregate principal amount of </span><span style="font-family:inherit;font-size:10pt;"><span>6.25%</span></span><span style="font-family:inherit;font-size:10pt;"> senior notes due 2025 at par (the &#8220;Notes&#8221;), and a portion of the net proceeds were utilized to pay down the outstanding balance of the revolver component of its Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining net proceeds intended to be used for general corporate purposes.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#8220;Indenture&#8221;) plus accrued and unpaid interest. Prior to May 15, 2022, the Company may redeem some or all of the Notes at a redemption price of </span><span style="font-family:inherit;font-size:10pt;">100%</span><span style="font-family:inherit;font-size:10pt;"> of the principal amount, plus accrued and unpaid interest, plus a &#8220;make-whole&#8221; premium as specified in the Indenture.</span><span style="font-family:inherit;font-size:10pt;"><span> In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. </span></span><span style="font-family:inherit;font-size:10pt;">The Notes are senior unsecured obligations of the Company, are guaranteed by certain of the Company&#8217;s domestic subsidiaries, and rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#8217;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(c)</span><span style="font-family:inherit;font-size:10pt;">Whistler Mountain Resort Limited Partnership (&#8220;Whistler LP&#8221;) and Blackcomb Skiing Enterprises Limited Partnership (&#8220;Blackcomb LP&#8221;), together &#8220;The WB Partnerships,&#8221; are party to a credit agreement, dated as of </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">November 12, 2013</span></span></span><span style="font-family:inherit;font-size:10pt;"> (as amended, the &#8220;Whistler Credit Agreement&#8221;), by and among Whistler LP, Blackcomb LP, certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the &#8220;Whistler Subsidiary Guarantors&#8221;), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>C$300.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility, and during the year ended July 31, 2020, the Company entered into an amendment of the Whistler Credit Agreement which extended the maturity date of the revolving credit facility to&#160;</span><span style="font-family:inherit;font-size:10pt;">December&#160;15, 2024</span><span style="font-family:inherit;font-size:10pt;">. No other material terms of the Whistler Credit Agreement were altered. The WB Partnerships&#8217; obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to&#160;C$75.0 million, subject to lender approval.&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#8217; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#8217; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#8217; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum</span></span><span style="font-family:inherit;font-size:10pt;">.&#160;As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, all borrowings under the Whistler Credit Agreement were made in Canadian dollars and by way of the issuance of bankers&#8217; acceptances plus </span><span style="font-family:inherit;font-size:10pt;">2.25%</span><span style="font-family:inherit;font-size:10pt;"> (approximately </span><span style="font-family:inherit;font-size:10pt;"><span>2.79%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is equal to </span><span style="font-family:inherit;font-size:10pt;"><span>0.5063%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum.&#160; The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships&#8217; ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(d)</span><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, in conjunction with the acquisition of Peak Resorts (see Note 7, Acquisitions), the Company assumed various secured borrowings (the &#8220;EPR Secured Notes&#8221;) under the master credit and security agreements and other related agreements, as amended, (collectively, the &#8220;EPR Agreements&#8221;) with EPT Ski Properties, Inc. and its affiliates (&#8220;EPR&#8221;). The EPR Secured Notes include the following:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">i.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Alpine Valley Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$4.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> Alpine Valley Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>11.21%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">ii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Boston Mills/Brandywine Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$23.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> Boston Mills/Brandywine Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.75%</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Jack Frost/Big Boulder Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$14.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> Jack Frost/Big Boulder Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.75%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iv.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Mount Snow Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$51.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> Mount Snow Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>11.78%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">v.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Hunter Mountain Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$21.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> Hunter Mountain Secured Note provides for interest payments through its maturity on January 5, 2036. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>8.57%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The EPR Secured Notes are secured by all or substantially all of the assets of Peak Resorts and its subsidiaries, including mortgages on the Alpine Valley, Boston Mills, Brandywine, Jack Frost, Big Boulder, Mount Snow and Hunter Mountain ski resorts. The EPR Secured Notes bear interest at specified interest rates, as discussed above, which are subject to increase each year by the lesser of (i) three times the percentage increase in the Consumer Price Index or (ii) a capped index (the &#8220;Capped CPI Index&#8221;), which is </span><span style="font-family:inherit;font-size:10pt;"><span>1.75%</span></span><span style="font-family:inherit;font-size:10pt;"> for the Hunter Mountain Secured Note and </span><span style="font-family:inherit;font-size:10pt;"><span>1.50%</span></span><span style="font-family:inherit;font-size:10pt;"> for all other notes. The EPR Agreements provide for affirmative and negative covenants that restrict, among other things, the ability of Peak Resorts and its subsidiaries to incur indebtedness, dispose of assets, make distributions and make investments. In addition, the EPR Agreements include restrictive covenants, including maximum leverage ratio and consolidated fixed charge ratio. An additional contingent interest payment would be due to EPR if, on a calendar year basis, the gross receipts from the properties securing any of the individual EPR Secured Notes (the &#8220;Gross Receipts&#8221;) are more than the result (the &#8220;Interest Quotient&#8221;) of dividing the total interest charges for the EPR Secured Notes by a specified percentage rate (the &#8220;Additional Interest Rate&#8221;). In such a case, the additional interest payment would equal the difference between the Gross Receipts and the Interest Quotient multiplied by the Additional Interest Rate. This calculation is made on an aggregated basis for the notes secured by the Jack Frost, Big Boulder, Boston Mills, Brandywine and Alpine Valley ski resorts, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>10.0%</span></span><span style="font-family:inherit;font-size:10pt;">; on a standalone basis for the note secured by the Company&#8217;s Mount Snow ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>12.0%</span></span><span style="font-family:inherit;font-size:10pt;">; and on a standalone basis for the note secured by the Company&#8217;s Hunter Mountain ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>8.0%</span></span><span style="font-family:inherit;font-size:10pt;">. Peak Resorts does not have the right to prepay the EPR Secured Notes. The EPR Secured Notes were recorded at their estimated fair value in conjunction with the acquisition of Peak Resorts on September 24, 2019. The EPR Agreements grant EPR certain other rights including (i) the option to purchase the Boston Mills, Brandywine, Jack Frost, Big Boulder or Alpine Valley resorts, which is exercisable no sooner than two years and no later than one year prior to the maturity dates of the applicable EPR Secured Note for such properties, with any closings to be held on the applicable maturity dates; and, if EPR exercises the purchase option, EPR will enter into an agreement with the Company for the lease of each acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each; (ii) a right of first refusal through 2021, subject to certain conditions, to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by Peak Resorts with respect to any new or existing ski resort properties; and (iii) a right of first refusal through 2021 to purchase the Company&#8217;s Attitash ski resort in the event the Company were to desire to sell the Attitash ski resort. To date, EPR has not exercised any such purchase options. </span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, Peak Resorts is required to maintain a debt service reserve account which amounts are applied to fund interest payments and other amounts due and payable to EPR. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> the Company had funded the EPR debt service reserve account in an amount equal to approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$5.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was included in other current assets in the Company&#8217;s Consolidated Balance Sheet.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(e)</span><span style="font-family:inherit;font-size:10pt;">Peak Resorts serves as the general partner for two limited partnerships, Carinthia Group 1, LP and Carinthia Group 2, LP (together, the &#8220;Carinthia Partnerships&#8221;), which were formed to raise </span><span style="font-family:inherit;font-size:10pt;"><span>$52.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> through the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services (&#8220;USCIS&#8221;), pursuant to the Immigration and Nationality Act (the &#8220;EB-5 Program&#8221;). The EB-5 Program was created to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. The program allocates immigrant visas to qualified individuals (&#8220;EB-5 Investors&#8221;) seeking lawful permanent resident status based on their investment in a U.S commercial enterprise. On December 27, 2016, Peak Resorts borrowed </span><span style="font-family:inherit;font-size:10pt;"><span>$52.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> from the Carinthia Partnerships to fund two capital projects at Mount Snow. The amounts were borrowed through two loan agreements, which provided </span><span style="font-family:inherit;font-size:10pt;"><span>$30.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$22.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> (together, the &#8220;EB-5 Development Notes&#8221;). Amounts outstanding under the EB-5 Development Notes accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>1.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum until the maturity date, which is December 27, 2021, subject to an extension of up to two additional years at the option of the borrowers, with lender consent. If the maturity date is extended, amounts outstanding under the EB-5 Development Notes will accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>7.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the first year of extension and a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the second year of extension. Upon an event of default (as defined), amounts outstanding </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">under the EB-5 Development Notes shall bear interest at the rate of </span><span style="font-family:inherit;font-size:10pt;"><span>5.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum, subject to the extension increases. While the EB-5 Development Notes are outstanding, Peak Resorts is restricted from taking certain actions without the consent of the lenders, including, but not limited to, transferring or disposing of the properties or assets financed with loan proceeds. In addition, Peak Resorts is prohibited from prepaying outstanding amounts owed if such prepayment would jeopardize any of the EB-5 Investors from being admitted to the U.S. via the EB-5 Program.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(f)</span><span style="font-family:inherit;font-size:10pt;">The Company has recorded the outstanding debt of four Employee Housing Entities (each an &#8220;Employee Housing Entity&#8221; and collectively the &#8220;Employee Housing Entities&#8221;): Breckenridge Terrace, Tarnes, BC Housing and Tenderfoot. The proceeds of the Employee Housing Bonds were used to develop apartment complexes designated primarily for use by the Company&#8217;s seasonal employees at its Colorado mountain resorts. The Employee Housing Bonds are variable rate, interest-only instruments with interest rates tied to </span><span style="font-family:inherit;font-size:10pt;"><span>LIBOR plus 0% to 0.1%</span></span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>0.17%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span>0.27%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">).</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;text-indent:0px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on the Employee Housing Bonds is paid monthly in arrears and the interest rate is adjusted weekly. No principal payments are due on the Employee Housing Bonds until maturity. Each Employee Housing Entity&#8217;s bonds were issued in two series. The bonds for each Employee Housing Entity are backed by letters of credit issued under the Vail Holdings Credit Agreement. The table below presents the principal amounts outstanding for the Employee Housing Bonds as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):&#160;&#160;&#160;&#160;</span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.484375%;border-collapse:collapse;text-align:left;"><tr><td colspan="11"/></tr><tr><td style="width:36%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Maturity&#160;(a)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;A</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;B</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge Terrace</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2039</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tarnes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2039</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,000</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,410</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,410</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">BC Housing</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2027</span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,100</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,500</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,600</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tenderfoot</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2035</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,700</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,885</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>11,585</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>37,780</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,795</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(g)</span><span style="font-family:inherit;font-size:10pt;">On </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">May 24, 2013</span></span></span><span style="font-family:inherit;font-size:10pt;">, VR CPC Holdings, Inc. (&#8220;VR CPC&#8221;), a wholly-owned subsidiary of the Company, entered into a transaction agreement with affiliate companies of Talisker Corporation (&#8220;Talisker&#8221;) pursuant to which the parties entered into a master lease agreement (the &#8220;Lease&#8221;) and certain ancillary transaction documents on May 29, 2013 related to the former stand-alone Canyons Resort (&#8220;Canyons&#8221;), pursuant to which the Company assumed the resort operations of the Canyons. The Lease between VR CPC and Talisker has an initial term of </span><span style="font-family:inherit;font-size:10pt;"><span>50 years</span></span><span style="font-family:inherit;font-size:10pt;"> with </span><span style="font-family:inherit;font-size:10pt;"><span>six 50-year renewal options</span></span><span style="font-family:inherit;font-size:10pt;">. The Lease provides for </span><span style="font-family:inherit;font-size:10pt;"><span>$25 million</span></span><span style="font-family:inherit;font-size:10pt;"> in annual payments, which increase each year by an </span><span style="font-family:inherit;font-size:10pt;"><span>inflation-linked index of CPI less 1% per annum, with a floor of 2%</span></span><span style="font-family:inherit;font-size:10pt;">. Vail Resorts has guaranteed the payments under the Lease. The obligation at </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> represents future lease payments for the remaining initial lease term of </span><span style="font-family:inherit;font-size:10pt;"><span>50 years</span></span><span style="font-family:inherit;font-size:10pt;"> (including annual increases at the floor of 2%) discounted using an interest rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10%</span></span><span style="font-family:inherit;font-size:10pt;">, and includes accumulated accreted interest expense of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$40.7 million</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(h)</span><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2019, the Company completed two real estate sales transactions that were accounted for as financing arrangements as a result of the Company&#8217;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. The Company received approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$11.2 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of proceeds for these sales transactions during the year ended July 31, 2019, which are reflected within long-term debt, net. Other obligations also consist of a </span><span style="font-family:inherit;font-size:10pt;"><span>$3.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> note outstanding to the Colorado Water Conservation Board, which matures on </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">September 16, 2028</span></span></span><span style="font-family:inherit;font-size:10pt;">, and other financing arrangements. Other obligations, including the Colorado Water Conservation Board note, bear interest at rates ranging from </span><span style="font-family:inherit;font-size:10pt;"><span>5.1%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span>5.5%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(i)</span><span style="font-family:inherit;font-size:10pt;">In connection with the acquisition of Peak Resorts, the Company estimated the acquisition date fair values of the debt instruments assumed, including the EPR Secured Notes and the EB-5 Development Notes, and recorded any difference between such estimated fair values and the par value of debt instruments as unamortized premiums and discounts, which is amortized and recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. Additionally, certain costs incurred with regard to the issuance of debt instruments are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(j)</span><span style="font-family:inherit;font-size:10pt;">Current maturities represent principal payments due in the next </span><span style="font-family:inherit;font-size:10pt;">12 months</span><span style="font-family:inherit;font-size:10pt;">, and exclude approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Aggregate maturities for debt outstanding, including capital lease obligations, as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:84%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>69,827</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>115,195</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,740</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,796</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,612,120</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>519,570</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,444,248</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> (1) Includes approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recorded interest expense of </span><span style="font-family:inherit;font-size:10pt;"><span>$106.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$79.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$63.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$1.9 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$1.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, was amortization of deferred financing costs. The Company was in compliance with all of its financial and operating covenants required to be maintained under its debt instruments for all periods presented.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In connection with the acquisition of Whistler Blackcomb, VHI funded a portion of the purchase price through an intercompany loan to Whistler Blackcomb of&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$210.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was effective as of November 1, 2016 and&#160;requires foreign currency remeasurement to Canadian dollars, the functional currency for Whistler Blackcomb. As a result, foreign currency fluctuations associated with the loan are recorded within the Company&#8217;s results of operations. The Company recognized approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$3.2 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$2.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$9.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> of non-cash foreign currency loss on the intercompany loan to Whistler Blackcomb during the years ended July 31, 2020, 2019 and 2018, respectively, on the Company&#8217;s Consolidated Statements of Operations.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -URI http://asc.fasb.org/topic&amp;trid=2208564<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773550056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock', window );">Business Acquisition, Pro Forma Information [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Pro Forma Financial Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,970,363</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,490,809</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>100,205</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma basic net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.49</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.47</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationDisclosureTextBlock', window );">Acquisitions</a></td>
<td class="text">Acquisitions<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Peak Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, the Company, through a wholly-owned subsidiary, acquired 100% of the outstanding stock of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;) at a purchase price of&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$11.00</span></span><span style="font-family:inherit;font-size:10pt;"> per share or approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$264.5 million</span></span><span style="font-family:inherit;font-size:10pt;">. In addition, contemporaneous with the closing of the transaction, Peak Resorts was required to pay approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$70.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of certain outstanding debt instruments and lease obligations in order to complete the transaction. Accordingly, the total purchase price, including the repayment of certain outstanding debt instruments and lease obligations, was approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$334.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, for which the Company borrowed approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$335.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> under the Vail Holdings Credit Agreement (see Note 6, Long-Term Debt) to fund the acquisition, repayment of debt instruments and lease obligations, and associated acquisition related expenses. The newly acquired resorts include: Mount Snow in Vermont; Hunter Mountain in New York; Attitash Mountain Resort, Wildcat Mountain and Crotched Mountain in New Hampshire; Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania; Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; Hidden Valley and Snow Creek in Missouri; and Paoli Peaks in Indiana. The Company assumed the Special Use Permits from the U.S. Forest Service for Attitash, Mount Snow and Wildcat Mountain, and assumed the land leases for Mad River and Paoli Peaks. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities), as well as lodging operations at certain resorts.</span></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,578</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>427,793</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,879</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,221</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,203</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assumed long-term debt</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(184,668</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(99,275</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>334,731</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the three months ended July 31, 2020, the Company recorded measurement period adjustments of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$8.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily related to the finalization of pre-acquisition period tax returns for Peak Resorts, which decreased deferred income taxes, net (included in other liabilities in the table above) with a corresponding decrease to goodwill, net.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to trade names and property management contracts, which had acquisition date estimated fair values of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$15.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$3.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The process of estimating the fair value of the depreciable property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost. The excess of the purchase price over the aggregate estimated fair values of the assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is not expected to be deductible for income tax purposes. The Company assumed various debt obligations of Peak Resorts, which were recorded at their respective estimated fair values as of the acquisition date (see Note 6, Long-Term Debt). The Company incurred </span><span style="font-family:inherit;font-size:10pt;"><span>$3.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> of acquisition related expenses associated with the transaction which were recorded within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2020. The operating results of Peak Resorts are reported within the Mountain and Lodging segments prospectively from the date of acquisition.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The estimated fair values of assets acquired and liabilities assumed in the acquisition of Peak Resorts are preliminary and are based on the information that was available as of the acquisition date. The Company believes that this information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed; however, the Company is obtaining additional information necessary to finalize those estimated fair values. Therefore, the preliminary measurements of estimated fair values reflected are subject to change. The Company expects to finalize the valuation and complete the purchase consideration allocation no later than one year from the acquisition date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Falls Creek and Hotham Resorts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 4, 2019, the Company, through a wholly-owned subsidiary, acquired ski field leases and related infrastructure used to operate two resorts in Victoria, Australia. The Company acquired Australian Alpine Enterprises Holdings Pty. Ltd and all related corporate entities that operate the Falls Creek and Hotham resorts from Living and Leisure Australia Group, a subsidiary of Merlin Entertainments, for a cash purchase price of approximately AU</span><span style="font-family:inherit;font-size:10pt;"><span>$178.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>$127.4 million</span></span><span style="font-family:inherit;font-size:10pt;">), after adjustments for certain agreed-upon terms, including an increase in the purchase price for operating losses incurred for the period from December 29, 2018 through closing. The acquisition included the mountain operations of both resorts, including base area skier services (ski and snowboard school facilities, retail and rental, reservation and property management operations).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,986</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>54,889</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71,538</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets and other assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(11,894</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>127,352</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Falls Creek and Hotham and other factors. None of the goodwill is expected to be deductible for income tax purposes under Australian tax law. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$4.6 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of acquisition related expenses associated with the transaction, including stamp duty expense of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.9 million</span></span><span style="font-family:inherit;font-size:10pt;">, within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Falls Creek and Hotham are reported within the Mountain segment prospectively from the date of acquisition.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Stevens Pass Resort</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On&#160;August&#160;15, 2018, the Company, through a wholly-owned subsidiary, acquired Stevens Pass Resort in the State of Washington from Ski Resort Holdings, LLC, an affiliate of Oz Real Estate (&#8220;Ski Resort Holdings&#8221;), for total cash consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$64.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, after adjustments for certain agreed-upon terms. The Company borrowed&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$70.0 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;on August 15, 2018 under its Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The acquisition included the mountain operations of the resort, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>752</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,865</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,878</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,680</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>886</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,029</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>64,032</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Stevens Pass and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$1.2 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Stevens Pass are reported within the Mountain segment prospectively from the date of acquisition.</span></div><div style="line-height:174%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Triple Peaks</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On&#160;September&#160;27, 2018, the Company, through a wholly-owned subsidiary, acquired Triple Peaks, LLC (&#8220;Triple Peaks&#8221;), the parent company of Okemo Mountain Resort in Vermont, Crested Butte Mountain Resort in Colorado, and Mount Sunapee Resort in New Hampshire, for a cash purchase price of approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$74.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, after adjustments for certain agreed-upon terms. In addition, contemporaneous with the closing of the transaction, Triple Peaks paid&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$155.0 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;to pay the remaining obligations of the leases that all three resorts had with Ski Resort Holdings, with funds provided by the Company. Accordingly, the total purchase price, including the repayment of lease obligations, was </span><span style="font-family:inherit;font-size:10pt;"><span>$229.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, for which the Company utilized cash on hand and borrowed </span><span style="font-family:inherit;font-size:10pt;"><span>$195.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> under the Vail Holdings Credit Agreement term loan (see Note 6, Long-Term Debt) to fund the transaction and associated acquisition related expenses. The Company obtained a new Special Use Permit from the U.S. Forest Service for Crested Butte, and assumed the state land leases for Okemo and Mount Sunapee. The acquisition included the mountain operations of the resorts, including base area skier services (food and beverage, retail and rental, lift ticket offices and ski and snowboard school facilities). </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,197</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>159,799</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>51,742</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,360</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,093</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18,098</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229,093</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets acquired in the transaction were primarily related to property management contracts and trade names. The process of estimating the fair value of the property, plant, and equipment includes the use of certain estimates and assumptions related to replacement cost and physical condition at the time of acquisition. The excess of the purchase price over the aggregate estimated fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of the resorts and other factors, and is expected to be deductible for income tax purposes. The Company recognized&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$2.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of acquisition related expenses associated with the transaction within Mountain and Lodging operating expense in its Consolidated Statement of Operations for the year ended July 31, 2019. The operating results of Triple Peaks are reported within the Mountain and Lodging segments prospectively from the date of acquisition.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Pro Forma Financial Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,970,363</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,490,809</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>100,205</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma basic net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.49</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.47</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionProFormaInformationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -URI http://asc.fasb.org/topic&amp;trid=2303972<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772393480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet Related Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock', window );">Supplementary Balance Sheet Information</a></td>
<td class="text">Supplementary Balance Sheet Information<div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of property, plant and equipment, including capital lease assets, follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land and land improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>750,714</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>619,561</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,475,661</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,284,438</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,361,178</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,160,817</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>308,267</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>309,271</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>104,223</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>118,815</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80,510</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>65,556</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Construction in progress</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>81,967</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79,282</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,162,520</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,637,740</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,969,841</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,795,240</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,192,679</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,842,500</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation expense, which included depreciation of assets recorded under capital leases, for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> totaled </span><span style="font-family:inherit;font-size:10pt;"><span>$243.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$210.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$199.2 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table summarizes the composition of property, plant and equipment recorded under finance leases as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,818</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,818</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>49,228</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>49,228</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,160</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,160</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60,384</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60,384</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>183,590</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>183,590</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(65,792</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(56,040</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>117,798</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>127,550</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of goodwill and intangible assets follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,752,062</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,625,560</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated impairments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,354</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,354</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,709,020</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,608,206</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Indefinite-lived intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>230,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,905</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,667</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,166</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross indefinite-lived intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>271,667</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>258,071</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24,713</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24,713</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indefinite-lived intangible assets, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>246,954</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>233,358</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Amortizable intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,208</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,772</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,538</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross amortizable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>108,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,646</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(41,158</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(36,831</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortizable intangible assets, net</span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,822</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,815</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>380,647</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>367,717</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(65,871</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,544</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total intangible assets, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,776</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>306,173</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortization expense for intangible assets subject to amortization for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> totaled </span><span style="font-family:inherit;font-size:10pt;"><span>$6.5 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$7.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$5.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, and is estimated to be approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$4.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> annually, on average, for the next five fiscal years.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in the net carrying amount of goodwill allocated between the Company&#8217;s segments for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> are as follows (in thousands): </span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Mountain </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lodging </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill,&#160;net </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,407,787</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,899</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,475,686</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,049</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,049</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(19,529</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(19,529</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,540,307</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,899</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,608,206</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9,485</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9,485</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,666,809</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,211</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,709,020</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Asset Impairments</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recorded asset impairments during the year ended July 31, 2020 of </span><span style="font-family:inherit;font-size:10pt;"><span>$28.4 million</span></span><span style="font-family:inherit;font-size:10pt;">, with corresponding reductions to goodwill, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$25.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and intangible assets, net and property, plant and equipment, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.7 million</span></span><span style="font-family:inherit;font-size:10pt;">. These asset impairments encompass various estimates and assumptions about fair value, which are based predominately on significant unobservable inputs. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic and the impact it has had on the Company&#8217;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. Additionally, the Company determined that certain long-lived assets of its Colorado resort ground transportation company were not recoverable. As a result, the Company recognized impairments of goodwill of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$25.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and intangible assets and long-lived assets of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, which were recorded within asset impairments on the Company&#8217;s Consolidated Statement of Operations during the year ended July 31, 2020. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated the fair value of its Colorado resort ground transportation company reporting unit based on an analysis of the present value of future cash flows (an income approach). The significant estimates used in the discounted cash flow model included the Company&#8217;s weighted average cost of capital for the reporting unit, projected cash flows and the long-term rate of growth, all of which are significant unobservable (Level 3) inputs. The Company&#8217;s assumptions were based on the actual historical performance of the reporting unit, taking into account the recent weakening of operating results and the expected continuation of operating results for transportation services. As a result of this impairment, the Company&#8217;s Colorado ground transportation company had no remaining goodwill recorded as of July 31, 2020.</span></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of accounts payable and accrued liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trade payables</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>59,692</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>96,377</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>256,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,669</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued salaries, wages and deferred compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25,588</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50,318</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,704</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>37,797</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deposits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>20,070</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>32,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>36,604</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other accruals</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57,048</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>55,588</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accounts payable and accrued liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,108</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>607,857</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of other long-term liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Private club deferred initiation fee revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>105,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,749</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,651</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,017</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other long-term liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>163,486</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>154,835</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total other long-term liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,245</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>283,601</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalBalanceSheetDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -URI http://asc.fasb.org/topic&amp;trid=2122208<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalBalanceSheetDisclosuresTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772033464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Affiliates<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermInvestmentsAbstract', window );"><strong>Long-term Investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock', window );">Investments in Affiliates</a></td>
<td class="text">Investments in Affiliates<div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company held the following investments in equity method affiliates as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"/></tr><tr><td style="width:84%;"/><td style="width:16%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Equity Method Affiliates</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Ownership</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (&#8220;SSF/VARE&#8221;)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">KRED</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Clinton Ditch and Reservoir Company</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43%</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company had total net investments in equity method affiliates of </span><span style="font-family:inherit;font-size:10pt;"><span>$10.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$8.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively, included within deferred charges and other assets in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of </span><span style="font-family:inherit;font-size:10pt;">50% or less owned</span><span style="font-family:inherit;font-size:10pt;"> entities accounted for by the equity method was </span><span style="font-family:inherit;font-size:10pt;"><span>$6.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$5.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively. During the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, distributions in the amounts of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$1.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.5 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, were received from equity method affiliates.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -URI http://asc.fasb.org/topic&amp;trid=2196965<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermInvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermInvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555774115768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurements<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value Measurements</a></td>
<td class="text">Fair Value Measurements<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company utilizes FASB issued fair value guidance that establishes how reporting entities should measure fair value for measurement and disclosure purposes.&#160;The guidance establishes a common definition of fair value applicable to all assets and liabilities measured at fair value and prioritizes the inputs into valuation techniques used to measure fair value.&#160;Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value.&#160;The three levels of the hierarchy are as follows:</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 2: Inputs include quoted prices for similar assets and liabilities in active and inactive markets or that are observable for the asset or liability either directly or indirectly; and</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Level 3: Unobservable inputs which are supported by little or no market activity.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The table below summarizes the Company&#8217;s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at their estimated fair values (all other assets and liabilities measured at fair value are immaterial) (in thousands):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"/></tr><tr><td style="width:36%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;3</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>203,158</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>203,158</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,208</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,208</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest Rate Swaps</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,510</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,510</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 3</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,043</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,043</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,871</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,871</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s cash equivalents, other current assets and Interest Rate Swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. During the year ended July 31, 2020, the Company entered into the Interest Rate Swaps to hedge the LIBOR-based variable interest rate component of $400.0 million in principal amount of its Vail Holdings Credit Agreement. Changes in the estimated fair value are recognized in change in estimated fair value of hedging instruments on the Company&#8217;s Consolidated Statements of Comprehensive Income. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. The estimated fair value of the Interest Rate Swaps are included within other long-term liabilities on the Company&#8217;s Consolidated Balance Sheet as of July 31, 2020.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in Contingent Consideration during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:84%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingent Consideration</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,900</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(67</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,367</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(6,436</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,964</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Lease for Park City, as discussed in Note 6, Long-term Debt, provides for participating contingent payments (the &#8220;Contingent Consideration&#8221;) to the landlord of </span><span style="font-family:inherit;font-size:10pt;"><span>42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Lease by the Company.</span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span>The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included Park City EBITDA for the year ending July 31, 2022, an assumed long-term growth rate, a discount rate of 10.49% and volatility of 17.0%, which are unobservable inputs and thus are considered Level 3 inputs.</span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span>The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated future performance would result in a change in the estimated fair value within the range of approximately $2.9 million to $4.1 million.</span></span><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration is classified as a liability in our Consolidated Balance Sheets and is remeasured to an estimated fair value at each reporting date until the contingency is resolved. During the year ended July 31, 2020, the Company made a payment to the landlord for Contingent Consideration of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> and recorded a decrease in the estimated fair value of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$3.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily related to changes in the expected Contingent Consideration payments for the year ended July 31, 2020 and the year ending July 31, 2021, and other key assumptions noted above, resulting in an estimated fair value of the Contingent Consideration of </span><span style="font-family:inherit;font-size:10pt;"><span>$17.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, which is reflected in accounts payable and accrued liabilities and other long-term liabilities in the Consolidated Balance Sheet.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778317912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes</a></td>
<td class="text">Income Taxes<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is subject to taxation in U.S. federal, state, and local jurisdictions and various non-U.S. jurisdictions, including Australia and Canada. The Company&#8217;s effective tax rate is impacted by the tax laws, regulations, practices and interpretations in the jurisdictions in which it operates and may fluctuate significantly from period to period depending on, among other things, the geographic mix of the Company&#8217;s profits and losses, changes in tax laws and regulations or their application and interpretation, the outcome of tax audits and changes in valuation allowances associated with the Company&#8217;s deferred tax assets.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March 27, 2020, in response to the COVID-19 pandemic, the U.S. government enacted legislation commonly referred to as the Coronavirus Aid, Relief, and Economic Security Act (the &#8220;CARES Act&#8221;). The CARES Act includes various amendments to the U.S. tax code that impacted the Company&#8217;s accounting and reporting for income taxes during the year ended July 31, 2020, and the Company expects these amendments will continue to impact its accounting and reporting for income taxes in the future. The primary provisions of the CARES Act that the Company has been impacted by include:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">allowing a carryback of the entire amount of eligible Federal net operating losses (&#8220;NOLs&#8221;) generated in calendar years 2018, 2019 and 2020 for up to five years prior to when such losses were incurred, representing a change from previous rules under the Tax Cuts &amp; Jobs Act of 2017 (the &#8220;TCJA&#8221;), in which NOLs could not be carried back to prior years and utilization was limited to 80% of taxable income in future years. Under the CARES Act, the Company was permitted to carry back its pre-existing NOLs to tax years prior to the enactment of the TCJA and obtain an incremental benefit of </span><span style="font-family:inherit;font-size:10pt;"><span>$3.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> related to the differential in federal tax rates between years that NOLs were generated and years that the NOLs will be carried back to;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">treatment of certain qualified improvement property (&#8220;QIP&#8221;) as 15-year property and allowing such QIP placed in service after December 31, 2017 to be eligible for bonus depreciation, which could incrementally add to its pre-existing NOLs; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">increases in the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income for calendar years 2019 and 2020.</span></div></td></tr></table><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The CARES Act also provides refundable employee retention credits and defers the requirement to remit the employer-paid portion of social security payroll taxes. As a result, during the year ended July 31, 2020, the Company recorded a benefit of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$9.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, which primarily offset Mountain and Lodging operating expense as a result of wages paid to employees who were not providing services. Additionally, the Company deferred payment of the employer-paid portion of social security payroll taxes through the end of calendar year 2020 and will remit such amounts in equal installments during calendar years 2021 and 2022.</span></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company also recognized a benefit of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$8.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> during the year ended July 31, 2020 as a result of the recent Canada Emergency Wage Subsidy and Australian JobKeeper legislation for its Canadian and Australian employees, which primarily offset Mountain and Lodging operating expense.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S. and foreign components of income before (provision) benefit from income taxes is as follows (in thousands):</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>89,838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>306,323</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>264,379</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26,595</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>92,642</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,713</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>116,433</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>398,965</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,092</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company&#8217;s deferred tax liabilities and assets are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Fixed assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>216,016</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>153,182</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86,509</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>73,146</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease right of use assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,727</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,709</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,425</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>369,961</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>239,753</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,997</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,922</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stock-based compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,313</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,620</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment in Partnerships</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,400</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,281</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred compensation and other accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,918</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,674</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,468</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,771</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>285</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,896</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net operating loss carryforwards and other tax credits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,205</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,631</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60,838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,427</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,850</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>147,851</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>83,645</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Valuation allowance for deferred income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(5,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(5,365</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets, net of valuation allowance</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>142,521</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,280</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>227,440</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax asset</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,751</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,286</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liability</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>234,191</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>168,759</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>227,440</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Significant components of the provision (benefit) from income taxes are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(13,467</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>24,309</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(43,366</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(731</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,539</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,562</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,141</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>20,205</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,436</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total current</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(10,057</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,053</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(15,368</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,597</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,983</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(45,922</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,266</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,282</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,941</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>572</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>154</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,789</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total deferred</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,435</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,419</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(45,770</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,378</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,472</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the income tax provision (benefit) from continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:52%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">At U.S. federal income tax rate</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State income tax, net of federal benefit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.5</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.8</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.0</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in uncertain tax positions</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.6</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in valuation allowance</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.3</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Excess tax benefits related to stock-based compensation</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(7.1</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(20.9</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Impacts of the Tax Act and other legislative changes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.2</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24.7</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Noncontrolling interests</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.4</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.5</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign rate differential</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.4</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.4</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.5</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effective tax rate</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6.3</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18.9</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18.0</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, beginning of year</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,222</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,242</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76,111</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additions for tax positions of prior years</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,654</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>11,520</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,394</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lapse of statute of limitations</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18,577</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,540</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(10,263</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, end of year</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,299</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,222</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,242</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company&#8217;s unrecognized tax benefits associated with uncertain tax positions relate to the treatment of the Talisker lease payments as payments of debt obligations and that the tax basis in Canyons goodwill is deductible, and are included within &#8220;other long-term liabilities&#8221; in the accompanying Consolidated Balance Sheets. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2020, the Company experienced a reduction in the uncertain tax positions due to the lapse of the statute of limitations of </span><span style="font-family:inherit;font-size:10pt;"><span>$18.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was partially offset with an increase to the uncertain tax position of </span><span style="font-family:inherit;font-size:10pt;"><span>$16.7 million</span></span><span style="font-family:inherit;font-size:10pt;">. Interest and penalties associated with the statute of limitations lapse were approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$3.1 million</span></span><span style="font-family:inherit;font-size:10pt;">. The Company is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next twelve months. Additionally, the Company expects a reduction to its uncertain tax positions for the fiscal year ending July 31, 2021, due to the lapse of the statute of limitations. As of July&#160;31, 2020 and 2019, accrued interest and penalties, net of tax, was </span><span style="font-family:inherit;font-size:10pt;"><span>$6.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$6.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. For the years ended July&#160;31, 2020, 2019 and 2018, the Company recognized income tax (benefit) expense of (</span><span style="font-family:inherit;font-size:10pt;"><span>$0.1 million</span></span><span style="font-family:inherit;font-size:10pt;">), </span><span style="font-family:inherit;font-size:10pt;"><span>$1.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> of interest (benefit) expense and penalties, net of tax, respectively.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s major tax jurisdictions in which it files income tax returns are the U.S. federal jurisdiction, various state jurisdictions, Australia, and Canada. The Company is no longer subject to U.S. federal examinations for tax years prior to 2015. With few exceptions, the Company is no longer subject to examination by various U.S. state jurisdictions for tax years prior to 2014. Additionally, the Company is no longer subject to audits for the tax years prior to 2015 for Australia and Canada.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has NOL carryforwards totaling </span><span style="font-family:inherit;font-size:10pt;"><span>$58.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, primarily comprised of </span><span style="font-family:inherit;font-size:10pt;"><span>$49.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of federal and state NOLs as a result of the acquisition of Peak Resorts in September 2019 that will expire beginning July 31, 2032, </span><span style="font-family:inherit;font-size:10pt;"><span>$4.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of historical state NOLs that will expire by July 31, 2032 and non-U.S. NOLs of </span><span style="font-family:inherit;font-size:10pt;"><span>$3.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> that will carry forward indefinitely. In connection with Peak Resorts&#8217; initial public offering in November 2014, as well as the Company&#8217;s acquisition of Peak Resorts in September 2019, Peak Resorts had two ownership changes pursuant to the provisions of the Tax Reform Act of 1986. As a result, the Company&#8217;s usage of its eligible Federal NOL carryforwards will be limited each year by these ownership changes; however, management believes the full benefit of those carryforwards will be realized prior to their respective expiration dates. As of July&#160;31, 2020, the Company has recorded a valuation allowance on </span><span style="font-family:inherit;font-size:10pt;"><span>$3.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of the historical non-U.S. NOL carryforwards, as the Company has determined that it is more likely than not that the associated NOL carryforwards will not be realized. Additionally, the Company has foreign tax credit carryforwards of </span><span style="font-family:inherit;font-size:10pt;"><span>$4.2 million</span></span><span style="font-family:inherit;font-size:10pt;">, which expire by the year ending July 31, 2028. As of July&#160;31, 2020, the Company has recorded a valuation allowance of </span><span style="font-family:inherit;font-size:10pt;"><span>$4.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> on foreign tax credit carryforwards, as the Company has determined that it is more likely than not that these foreign tax credit carryforwards will not be realized.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company may be required to record additional valuation allowances if, among other things, adverse economic conditions, including those caused by the COVID-19 pandemic, negatively impact the Company&#8217;s ability to realize its deferred tax assets. Evaluating and estimating the Company&#8217;s tax provision, current and deferred tax assets and liabilities and other tax accruals requires significant management judgment. The Company intends to indefinitely reinvest undistributed earnings, if any, in its Canadian foreign subsidiaries.  It is not practical at this time to determine the income tax liability related to any remaining undistributed earnings.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32857-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 11.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330215-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.5.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32705-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 270<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6424409&amp;loc=d3e44925-109338<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -URI http://asc.fasb.org/topic&amp;trid=2144680<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6424122&amp;loc=d3e41874-109331<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555873008152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Sep. 21, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DocumentAndEntityInformationAbstract', window );"><strong>Document And Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $0.01 par value<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(303) <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Address, State or Province</a></td>
<td class="text">DE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentAnnualReport', window );">Document Annual Report</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jul. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Vail Resorts, Inc.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000812011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--07-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,189,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,336,675,376<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-09614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">51-0291762<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">390 Interlocken Crescent<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Broomfield, <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CO<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">80021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">404-1800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MTN<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_IcfrAuditorAttestationFlag', window );">ICFR Auditor Attestation Flag</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentAnnualReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an annual report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentAnnualReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_IcfrAuditorAttestationFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-K<br> -Number 249<br> -Section 310<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 20-F<br> -Number 249<br> -Section 220<br> -Subsection f<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 40-F<br> -Number 249<br> -Section 240<br> -Subsection f<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_IcfrAuditorAttestationFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Document And Entity Information [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772381144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related Party Transactions</a></td>
<td class="text">Related Party Transactions<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has the right to appoint </span><span style="font-family:inherit;font-size:10pt;"><span>four</span></span><span style="font-family:inherit;font-size:10pt;"> of </span><span style="font-family:inherit;font-size:10pt;"><span>nine</span></span><span style="font-family:inherit;font-size:10pt;"> directors of the Beaver Creek Resort Company of Colorado (&#8220;BCRC&#8221;), a non-profit entity formed for the benefit of property owners and certain others in Beaver Creek. The Company has a management agreement with the BCRC, renewable for </span><span style="font-family:inherit;font-size:10pt;">one-year</span><span style="font-family:inherit;font-size:10pt;"> periods, to provide management services on a fixed fee basis. Management fees and reimbursement of operating expenses paid to the Company under its agreement with the BCRC during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> were </span><span style="font-family:inherit;font-size:10pt;"><span>$8.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$9.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$9.2 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -URI http://asc.fasb.org/topic&amp;trid=2122745<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777913416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text">Commitments and Contingencies<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Metropolitan Districts</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company credit-enhances </span><span style="font-family:inherit;font-size:10pt;"><span>$6.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> of bonds issued by Holland Creek Metropolitan District (&#8220;HCMD&#8221;) through a </span><span style="font-family:inherit;font-size:10pt;"><span>$6.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> letter of credit issued under the Vail Holdings Credit Agreement. HCMD&#8217;s bonds were issued and used to build infrastructure associated with the Company&#8217;s Red Sky Ranch residential development. The Company has agreed to pay capital improvement fees to Red Sky Ranch Metropolitan District (&#8220;RSRMD&#8221;) until RSRMD&#8217;s revenue streams from property taxes are sufficient to meet debt service requirements under HCMD&#8217;s bonds. The Company recorded a liability of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$2.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, primarily within other long-term liabilities in the accompanying Consolidated Balance Sheets, as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively, with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates that it will make capital improvement fee payments under this arrangement through the year ending </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">July 31, 2031</span></span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Guarantees/Indemnifications</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company had various other letters of credit outstanding totaling </span><span style="font-family:inherit;font-size:10pt;"><span>$75.5 million</span></span><span style="font-family:inherit;font-size:10pt;">, consisting of </span><span style="font-family:inherit;font-size:10pt;"><span>$53.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> to support the Employee Housing Bonds and </span><span style="font-family:inherit;font-size:10pt;"><span>$22.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily for workers&#8217; compensation, a wind energy purchase agreement and insurance-related deductibles. The Company also had surety bonds of </span><span style="font-family:inherit;font-size:10pt;"><span>$9.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, primarily to provide collateral for its U.S. workers compensation self-insurance programs.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business that include certain indemnifications under which it could be required to make payments to third parties upon the occurrence or non-occurrence of certain future events. These indemnities include indemnities related to licensees in connection with third-parties&#8217; use of the Company&#8217;s trademarks and logos, liabilities associated with the infringement of other parties&#8217; technology and software products, liabilities associated with the use of easements, liabilities associated with employment of contract workers and the Company&#8217;s use of trustees, and liabilities associated with the Company&#8217;s use of public lands and environmental matters. The duration of these indemnities generally is indefinite and generally do not limit the future payments the Company could be obligated to make.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As permitted under applicable law, the Company and certain of its subsidiaries have agreed to indemnify their directors and officers over their lifetimes for certain events or occurrences while the officer or director is, or was, serving the Company or its subsidiaries in such a capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that should enable the Company to recover a portion of any amounts paid.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unless otherwise noted, the Company has not recorded any significant liabilities for the letters of credit, indemnities and other guarantees noted above in the accompanying Consolidated Financial Statements, either because the Company has recorded on its Consolidated Balance Sheets the underlying liability associated with the guarantee, the guarantee is with respect to the Company&#8217;s own performance and is therefore not subject to the measurement requirements as prescribed by GAAP, or because the Company has calculated the estimated fair value of the indemnification or guarantee to be immaterial based on the current facts and circumstances that would trigger a payment under the indemnification clause. In addition, with respect to certain indemnifications it is not possible to determine the maximum potential amount of liability under these potential obligations due to the unique set of facts and circumstances likely to be involved in each particular claim and indemnification provision. Historically, payments made by the Company under these obligations have not been material.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As noted above, the Company makes certain indemnifications to licensees for their use of the Company&#8217;s trademarks and logos. The Company does not record any liabilities with respect to these indemnifications.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Commitments</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The operations of Northstar are conducted on land and with operating assets owned by affiliates of EPR Properties, a real-estate investment trust, primarily under operating leases which were assumed in the acquisition of Northstar by the Company. The leases provide for the payment of a minimum annual base rent over the lease term which is recognized on a straight-line basis over the remaining lease term from the date of assumption. In addition, the leases provide for the payment of percentage rent of certain gross revenues generated at the property over a revenue threshold which is incrementally adjusted annually. The initial term of the leases expires in fiscal </span><span style="font-family:inherit;font-size:10pt;">2027</span><span style="font-family:inherit;font-size:10pt;"> and allows for </span><span style="font-family:inherit;font-size:10pt;"><span>three</span></span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;"><span>10</span></span><span style="font-family:inherit;font-size:10pt;">-year extensions at the Company&#8217;s option. The operations of Perisher are conducted on land under a license and lease granted by the Office of Environment and Heritage, an agency of the New South Wales government, which initially commenced in 2008, and which the Company assumed in its acquisition of Perisher. The lease and license has a term that expires in fiscal </span><span style="font-family:inherit;font-size:10pt;">2048</span><span style="font-family:inherit;font-size:10pt;"> and allows for an option to renew for an additional </span><span style="font-family:inherit;font-size:10pt;"><span>20 years</span></span><span style="font-family:inherit;font-size:10pt;">. The lease and license provide for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent</span><span style="font-family:inherit;font-size:10pt;"><span> of certain gross revenue</span></span><span style="font-family:inherit;font-size:10pt;"> generated at the property. The operations of Falls Creek and Hotham are conducted on land under leases granted by the Governor of the State of Victoria, Australia and its dependencies, which initially commenced in 1991 and 1992, respectively, which the Company assumed in its acquisition of Falls Creek and Hotham in April 2019. The leases have terms that expire in fiscal </span><span style="font-family:inherit;font-size:10pt;">2041</span><span style="font-family:inherit;font-size:10pt;"> for Falls Creek and fiscal </span><span style="font-family:inherit;font-size:10pt;">2058</span><span style="font-family:inherit;font-size:10pt;"> for Hotham, and provide for the payment of rent with both a fixed and variable component. The operations of Mad River Mountain is conducted on land under a lease granted by EPT Mad River, Inc., which initially commenced in 2005, which the Company assumed in its acquisition of Peak Resorts in September 2019. The lease has a term that expires in the year ending July 31, 2035, and provides for the payment of an initial minimum annual base rent, with annual CPI increases, and percentage rent of certain gross revenue generated at the property. Additionally, the Company has entered into strategic long-term season pass alliance agreements with third-party mountain resorts in which the Company has committed to pay minimum revenue guarantees over the remaining terms of these agreements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has executed or assumed as lessee other operating leases for the rental of office and commercial space, employee residential units and land primarily through fiscal </span><span style="font-family:inherit;font-size:10pt;">2079</span><span style="font-family:inherit;font-size:10pt;">. Certain of these leases have renewal terms at the Company&#8217;s option, escalation clauses, rent holidays and leasehold improvement incentives. Rent holidays and rent escalation clauses are recognized on a straight-line basis over the lease term. Leasehold improvement incentives are recorded as leasehold improvements and amortized over the shorter of their economic lives or the term of the lease. For the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, the Company recorded lease expense (including Northstar, Perisher, Falls Creek &amp; Hotham and Mad River Mountain), excluding executory costs, related to these agreements of </span><span style="font-family:inherit;font-size:10pt;"><span>$58.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$57.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$52.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, which is included in the accompanying Consolidated Statements of Operations. See Note 4 &#8220;Leases&#8221; for additional information regarding the Company&#8217;s leasing arrangements.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Self Insurance</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is self-insured for claims under its U.S. health benefit plans and for the majority of workers&#8217; compensation claims in the U.S. Workers compensation claims in the U.S. are subject to stop loss policies. The self-insurance liability related to workers&#8217; compensation is determined actuarially based on claims filed. The self-insurance liability related to claims under the Company&#8217;s U.S. health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of accrued benefits in accounts payable and accrued liabilities (see Note 8, Supplementary Balance Sheet Information).</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Legal</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is a party to various lawsuits arising in the ordinary course of business. Management believes the Company has adequate insurance coverage and/or has accrued for all loss contingencies for asserted and unasserted matters deemed to be probable losses and estimable. As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, the accruals for the above loss contingencies were not material individually or in the aggregate.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -URI http://asc.fasb.org/topic&amp;trid=2127136<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559207&amp;loc=d3e25336-109308<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559207&amp;loc=d3e25336-109308<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772297352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">Segment Information</a></td>
<td class="text">Segment and Geographic Area Information<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Segment Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has three reportable segments: Mountain, Lodging and Real Estate. The Company refers to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. The Mountain segment includes the operations of the Company&#8217;s mountain resorts/ski areas and related ancillary activities. The Lodging segment includes the operations of the Company&#8217;s owned hotels, RockResorts, NPS concessionaire properties, condominium management, Colorado resort ground transportation operations and mountain resort golf operations. The Real Estate segment owns, develops and sells real estate in and around the Company&#8217;s resort communities. The Company&#8217;s reportable segments, although integral to the success of the others, offer distinctly different products and services and require different types of management focus. As such, these segments are managed separately.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company reports its segment results using Reported EBITDA (defined as segment net revenue less segment operating expenses, plus or minus segment equity investment income or loss, and for the Real Estate segment, plus gain or loss on sale of real property). The Company reports segment results in a manner consistent with management&#8217;s internal reporting of operating results to the chief operating decision maker (Chief Executive Officer) for purposes of evaluating segment performance.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Items excluded from Reported EBITDA are significant components in understanding and assessing financial performance. Reported EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, net change in cash and cash equivalents or other financial statement data presented in the Consolidated Financial Statements as indicators of financial performance or liquidity.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company utilizes Reported EBITDA in evaluating the performance of the Company and in allocating resources to its segments. Mountain Reported EBITDA consists of Mountain net revenue less Mountain operating expense plus or minus Mountain equity investment income or loss. Lodging Reported EBITDA consists of Lodging net revenue less Lodging operating expense. Real Estate Reported EBITDA consists of Real Estate net revenue less Real Estate operating expense plus gain or loss on sale of real property. All segment expenses include an allocation of corporate administrative expense. Assets are not used to evaluate performance, except as shown in the table below. The accounting policies specific to each segment are the same as those described in Note 2 &#8220;Summary of Significant Accounting Policies.&#8221;</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>913,091</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,033,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>880,293</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,131</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,060</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,910</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>160,763</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>181,837</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/rental</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,299</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>320,267</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>296,466</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>177,159</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>205,803</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>194,851</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,710,443</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,956,201</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,722,922</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>248,414</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,662</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>284,643</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,958,857</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,270,863</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,007,565</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,847</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>712</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,988</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Segment operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,212,053</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,279,567</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,132,840</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245,145</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>286,562</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>259,637</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,457,198</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,566,129</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,392,477</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,182</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,609</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,546</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total segment operating expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,466,380</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,571,738</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,396,023</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of real property</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>207</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>580</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>515</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,690</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,960</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,523</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>500,080</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>678,594</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>591,605</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,269</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,100</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25,006</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>503,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>706,694</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>616,611</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,128</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,317</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>957</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>702,377</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>617,568</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>96,844</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>101,021</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>99,385</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,222</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,332</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,055</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>323,493</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>401,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,378</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,472</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>116,433</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>398,965</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,092</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>249,572</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>218,117</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>204,462</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,372</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Gain) loss on disposal of fixed assets and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>664</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,620</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,964</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,367</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,854</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment income and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,305</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3,086</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,944</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,854</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,966</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>106,721</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79,496</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,226</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>702,377</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>617,568</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Geographic Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net revenue</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,655,961</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,865,062</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,610,323</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>307,743</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>406,513</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>401,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,759,692</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,381,378</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>432,987</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>461,122</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,192,679</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,842,500</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1) The only individual international country (i.e. except the U.S.) to account for more than 10% of the Company&#8217;s revenue and property plant and equipment, net was Canada. Canada accounted for </span><span style="font-family:inherit;font-size:10pt;"><span>$223.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$308.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, and </span><span style="font-family:inherit;font-size:10pt;"><span>$321.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> of revenue for the years ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, and for </span><span style="font-family:inherit;font-size:10pt;"><span>$291.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$319.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> of property, plant and equipment, net as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 34<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8981-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8721-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8844-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8657-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8721-108599<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -URI http://asc.fasb.org/topic&amp;trid=2134510<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777889208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Quarterly Financial Data<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract', window );"><strong>Quarterly Financial Information Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationTextBlock', window );">Selected Quarterly Financial Data</a></td>
<td class="text">Selected Quarterly Financial Data (Unaudited)<div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"/></tr><tr><td style="width:35%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>77,209</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>694,087</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>924,638</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>267,770</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>223,389</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(170,046</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>218,232</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>310,733</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(135,530</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,055</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(157,965</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>159,831</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217,018</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(109,829</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(153,608</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,546</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>206,370</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(106,475</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.82</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.79</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.64</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.42</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.82</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.74</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.04</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.64</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"/></tr><tr><td style="width:35%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First <br/>Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>244,006</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>957,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>849,578</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>220,004</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>476,269</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(120,582</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>422,598</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,848</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(127,595</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>323,493</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(92,301</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>308,530</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217,990</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(110,726</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(89,525</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>292,134</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>206,349</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(107,795</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.46</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.22</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.26</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.66</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.22</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.12</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.02</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.66</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_QuarterlyFinancialInformationDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -URI http://asc.fasb.org/topic&amp;trid=2126967<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_QuarterlyFinancialInformationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555774232648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Repurchase Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfEquityAbstract', window );"><strong>Payments for Repurchase of Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfTreasuryStockByClassTextBlock', window );">Stock Repurchase Plan</a></td>
<td class="text">Share Repurchase Program<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On March&#160;9, 2006, the Company&#8217;s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to </span><span style="font-family:inherit;font-size:10pt;"><span>3,000,000</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares. On July&#160;16, 2008, the Company&#8217;s Board of Directors increased the authorization by an additional </span><span style="font-family:inherit;font-size:10pt;"><span>3,000,000</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares, and on December 4, 2015, the Company&#8217;s Board of Directors increased the authorization by an additional </span><span style="font-family:inherit;font-size:10pt;"><span>1,500,000</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares for a total authorization to repurchase shares of up to </span><span style="font-family:inherit;font-size:10pt;"><span>7,500,000</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares. During the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span>256,418</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$46.4 million</span></span><span style="font-family:inherit;font-size:10pt;">). During the year ended July 31, 2019, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span>353,007</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$85.0 million</span></span><span style="font-family:inherit;font-size:10pt;">). During the year ended July 31, 2018, the Company repurchased </span><span style="font-family:inherit;font-size:10pt;"><span>115,422</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares (at a total cost of </span><span style="font-family:inherit;font-size:10pt;"><span>$25.8 million</span></span><span style="font-family:inherit;font-size:10pt;">). Since inception of this stock repurchase program through </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company has repurchased </span><span style="font-family:inherit;font-size:10pt;"><span>6,161,141</span></span><span style="font-family:inherit;font-size:10pt;"> shares at a cost of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$404.4 million</span></span><span style="font-family:inherit;font-size:10pt;">. As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>1,338,859</span></span><span style="font-family:inherit;font-size:10pt;"> Vail Shares remained available to repurchase under the existing share repurchase program, which has no expiration date. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for issuance under the Company&#8217;s employee share award plan.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfTreasuryStockByClassTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23309-112656<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfTreasuryStockByClassTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772316056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Share-based Payment Arrangement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock Compensation Plan</a></td>
<td class="text">k Compensation Plan<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has a share award plan (the &#8220;Plan&#8221;) which has been approved by the Company&#8217;s stockholders. Under the Plan, up to </span><span style="font-family:inherit;font-size:10pt;"><span>4.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> shares of common stock could be issued in the form of options, stock appreciation rights, restricted shares, restricted share units, performance shares, performance share units, dividend equivalents or other share-based awards to employees, directors or consultants of the Company or its subsidiaries or affiliates. The terms of awards granted under the Plan, including exercise price, vesting period and life, are set by the Compensation Committee of the Board of Directors. All share-based awards (except for restricted shares and restricted share units) granted under the Plan have a life of </span><span style="font-family:inherit;font-size:10pt;"><span>ten years</span></span><span style="font-family:inherit;font-size:10pt;">. Most awards vest ratably over </span><span style="font-family:inherit;font-size:10pt;"><span>three years</span></span><span style="font-family:inherit;font-size:10pt;">; however, some have been granted with different vesting schedules. Of the awards outstanding, none have been granted to non-employees (except those granted to non-employee members of the Board of Directors of the Company) under the Plan. At </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, approximately </span><span style="font-family:inherit;font-size:10pt;"><span>3.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> share based awards were available to be granted under the Plan.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The fair value of stock-settled stock appreciation rights (&#8220;SARs&#8221;) granted in the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> were estimated on the date of grant using a lattice-based option valuation model that applies the assumptions noted in the table below. A lattice-based model considers factors such as exercise behavior, and assumes employees will exercise equity awards at different times over the contractual life of the equity awards. As a lattice-based model considers these factors, and is more flexible, the Company considers it to be a better method of valuing equity awards than a closed-form Black-Scholes model. Because lattice-based option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatility is based on historical volatility of the Company&#8217;s stock. The Company uses historical data to estimate equity award exercises and employee terminations within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of equity awards granted is derived from the output of the option valuation model and represents the period of time that equity awards granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:52%;"/><td style="width:16%;"/><td style="width:16%;"/><td style="width:16%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected volatility</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29.7%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38.6%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40.0%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected dividends</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.8%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.1%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.0%</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected term (average in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.5-7.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.0-6.6</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.8-6.4</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Risk-free rate</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.8-2.0%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.4-2.9%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.2-2.3%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company records actual forfeitures related to unvested awards upon employee terminations. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of aggregate SARs award activity under the Plan as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:36%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exercise Price</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contractual Term</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Aggregate</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Intrinsic</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at August 1, 2017</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,290</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>59.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>237.86</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,049</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>33.25</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>172.03</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2018</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,324</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91.01</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>293.82</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(219</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>49.09</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(14</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217.58</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,171</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>111.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>146</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245.26</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(247</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67.19</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>252.75</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,061</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>138.59</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.0 years</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested and expected to vest at July 31, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,042</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>136.66</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.9 years</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercisable at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>846</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>108.73</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.1 years</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The weighted-average grant-date estimated fair value of SARs granted during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$58.25</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$98.19</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$78.07</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The total intrinsic value of SARs exercised during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$35.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$41.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$213.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The Company had </span><span style="font-family:inherit;font-size:10pt;"><span>91,000</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>131,000</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>169,000</span></span><span style="font-family:inherit;font-size:10pt;"> SARs that vested during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.&#160;These awards had a total estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$15.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$18.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> at the date of vesting for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested SARs as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:64%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>168</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80.75</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>146</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>58.25</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(91)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71.57</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(8)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79.23</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>69.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested restricted share units as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:64%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>126</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>230.10</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>83</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217.46</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(63)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>216.07</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(16)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229.97</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>130</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>228.77</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span>83,000</span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$217.46</span></span><span style="font-family:inherit;font-size:10pt;">. The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span>68,000</span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2019</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$264.44</span></span><span style="font-family:inherit;font-size:10pt;">. The Company granted </span><span style="font-family:inherit;font-size:10pt;"><span>77,000</span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units during the year ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2018</span><span style="font-family:inherit;font-size:10pt;"> with a weighted-average grant-date estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$215.14</span></span><span style="font-family:inherit;font-size:10pt;">. The Company had </span><span style="font-family:inherit;font-size:10pt;"><span>63,000</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>102,000</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>101,000</span></span><span style="font-family:inherit;font-size:10pt;"> restricted share units that vested during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively. These units had a total estimated fair value of </span><span style="font-family:inherit;font-size:10pt;"><span>$14.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$28.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$23.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> at the date of vesting for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, there was </span><span style="font-family:inherit;font-size:10pt;"><span>$25.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of total unrecognized compensation expense related to nonvested share-based compensation arrangements granted under the Plan, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$15.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$9.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of expense is expected to be recognized in the years ending </span><span style="font-family:inherit;font-size:10pt;">July 31, 2021</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2022</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2023</span><span style="font-family:inherit;font-size:10pt;">, respectively, assuming no share-based awards are granted in the future or forfeited. The tax benefit realized or expected to be realized from SARs exercised and restricted stock units vested was </span><span style="font-family:inherit;font-size:10pt;"><span>$12.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$16.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$79.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has a policy of using either authorized and unissued shares or treasury shares, including shares acquired by purchase in the open market, to satisfy equity award exercises.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772285224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Retirement and Profit Sharing Plans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Retirement Benefits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RetirementAndProfitSharingTextBlock', window );">Retirement and Profit Sharing Plans</a></td>
<td class="text">Retirement and Profit Sharing Plans<div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company maintains a defined contribution retirement plan (the &#8220;Retirement Plan&#8221;), qualified under Section&#160;401(k) of the Internal Revenue Code, for its U.S. employees. Under this Retirement Plan, U.S. employees are eligible to make before-tax contributions on the first day of the calendar month following the later of: (i)&#160;their employment commencement date or (ii)&#160;the date they turn </span><span style="font-family:inherit;font-size:10pt;">21</span><span style="font-family:inherit;font-size:10pt;">. Participants may contribute&#160;up to </span><span style="font-family:inherit;font-size:10pt;"><span>100%</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of their qualifying annual compensation up to the annual maximum specified by the Internal Revenue Code. When the Company participates in 401(k) contribution matching, it matches an amount equal to </span><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span><span style="font-family:inherit;font-size:10pt;"> of each participant&#8217;s contribution up to </span><span style="font-family:inherit;font-size:10pt;"><span>6%</span></span><span style="font-family:inherit;font-size:10pt;"> of a participant&#8217;s bi-weekly&#160;qualifying compensation starting the pay period containing the first day of the month after obtaining the later of: (i)&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>12</span></span><span style="font-family:inherit;font-size:10pt;"> months of employment with at least </span><span style="font-family:inherit;font-size:10pt;"><span>1,000</span></span><span style="font-family:inherit;font-size:10pt;"> service hours from the commencement date or (ii) if </span><span style="font-family:inherit;font-size:10pt;">1,000 hours</span><span style="font-family:inherit;font-size:10pt;"> within the first </span><span style="font-family:inherit;font-size:10pt;">12 months</span><span style="font-family:inherit;font-size:10pt;"> was not completed, then after the employee completed a cumulative&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>1,500</span></span><span style="font-family:inherit;font-size:10pt;"> service hours. On April 1, 2020, the Company announced a temporary six month suspension of its 401(k) contribution matching as a result of the impacts of the COVID-19 pandemic and resulting resort closures. Additionally, the Company&#8217;s matching contribution is entirely discretionary and may be reduced or eliminated at any time. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Retirement Plan expense recognized by the Company for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$5.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$7.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$6.9 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RetirementAndProfitSharingTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Entire disclosure for defined contribtuion plan. A defined contribution plan provides benefits in return for services rendered, provides an individual account for each participant, and has terms that specify how contributions to the individual's account are to be determined rather than the amount of benefits the individual is to receive. Disclosure includes a description of the terms and benefits provided by the employer's defined contribution plans.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RetirementAndProfitSharingTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776898744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Principles of Consolidation</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Principles of Consolidation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The accompanying Consolidated Financial Statements include the accounts of the Company and its consolidated subsidiaries for which the Company has a controlling financial interest. Investments in which the Company does not have a controlling financial interest, but has significant influence, are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Cash and Cash Equivalents &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock', window );">Restrictions on Cash and Cash Equivalents [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Restricted Cash &#8212; </span><span style="font-family:inherit;font-size:10pt;">The Company considers cash to be restricted when withdrawal or general use is legally restricted. During peak operations of the North American ski season, the Company&#8217;s restricted cash balance is primarily associated with customer reservations deposits that are required to be held in a trust pursuant to statutory requirements until such reservations are fulfilled.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TradeAndOtherAccountsReceivablePolicy', window );">Accounts Receivable</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounts receivable &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventories</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Inventories &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or net realizable value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant and Equipment</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant and Equipment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in income from operations. Leasehold improvements are amortized on the straight-line method over the shorter of the remaining lease term or estimated useful life of the asset. Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"/></tr><tr><td style="width:78%;"/><td style="width:22%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated&#160;Life</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">in Years</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10-35</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7-30</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2-30</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy', window );">Real Estate Held for Sale and Investment</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Real Estate Held for Sale and Investment &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs. Sales and marketing expenses are charged against income in the period incurred. Additionally, sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. </span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredChargesPolicyTextBlock', window );">Deferred Financing Costs</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Deferred Financing Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Certain costs incurred with the issuance of debt and debt securities are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. When debt is extinguished prior to its maturity date, the amortization of the remaining unamortized deferred financing costs, or pro-rata portion thereof, is charged to loss on extinguishment of debt.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock', window );">Goodwill and Intangible Assets</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill and Intangible Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company has classified as goodwill the cost in excess of estimated fair value of the net assets of businesses acquired in purchase transactions. The Company&#8217;s major intangible asset classes are trademarks, water rights, customer lists, property management contracts and Forest Service permits. Goodwill and various indefinite-lived intangible assets, including certain trademarks, water rights and certain property management contracts, are not amortized but are subject to at least annual impairment testing. The Company tests these non-amortizing assets annually (or more often, if necessary) for impairment as of May&#160;1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The testing for impairment consists of a comparison of the estimated fair value of the assets with their net carrying values. If the net carrying amount of the assets exceed its estimated fair value, an impairment will be recognized for indefinite-lived intangibles, including goodwill, in an amount equal to that excess. If the net carrying amount of the assets does not exceed the estimated fair value, no impairment loss is recognized. For the testing of goodwill and other indefinite-lived intangible assets for impairment, the Company performs a qualitative analysis to determine whether it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset exceeds the carrying amount, which includes an evaluation as to whether there have been significant changes to macro-economic factors related to the reporting unit or intangible asset that could materially impact fair value. If it is determined, based on qualitative factors, that the fair value of the reporting unit or indefinite-lived intangible asset is more likely than not less than carrying amount, a quantitative impairment test would be required, in which the Company would determine the estimated fair value of its reporting units using discounted cash flow analyses and determine the estimated fair value of its indefinite-lived intangible assets using an income approach. </span></div><span style="font-family:inherit;font-size:10pt;">As a result of the coronavirus (COVID-19) pandemic and the impact it has had on the Company&#8217;s operations during the year ended July 31, 2020, and the expected continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. As further discussed in Note 8, the Company recognized an impairment of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$28.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> related to its Colorado resort ground transportation company during the year ended July 31, 2020, which was recorded within asset impairments on the Company&#8217;s Consolidated Statement of Operations, with a corresponding reduction to goodwill, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$25.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and to intangible assets, net and property, plant and equipment, net of </span><span style="font-family:inherit;font-size:10pt;"><span>$2.7 million</span></span><span style="font-family:inherit;font-size:10pt;">. See Note 8, Supplementary Balance Sheet Information, for additional information. The Company determined that there were no other impairments of goodwill, definite and indefinite-lived assets for the years ended July 31, 2020, and that there was </span><span style="font-family:inherit;font-size:10pt;"><span>no</span></span><span style="font-family:inherit;font-size:10pt;"> impairment to goodwill and no material impairment to definite or indefinite-lived intangible assets for the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Long-lived Assets</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Long-lived Assets &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the net carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the net carrying amount of the asset, an impairment loss is recognized in the amount by which the net carrying amount of the asset exceeds its estimated fair value. As discussed above, the Company recorded an impairment to long-lived assets related to its Colorado resort ground transportation company during the year ended July 31, 2020. The Company determined that there were no other impairments of long-lived assets for the year ended July 31, 2020, and determined there was no impairment of the net carrying amount of a long-lived asset occurred during the years ended July 31, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">. </span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following provides information about the Company&#8217;s composition of revenue recognized from contracts with customers and other revenues, the performance obligations under those contracts, and the significant judgments made in accounting for those contracts:</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain revenue is derived from a wide variety of sources, including, among other things: lift revenue, which includes sales of lift tickets and pass products; ski school revenue, which includes the revenue derived from ski school operations; dining revenue, which includes both casual and fine dining on-mountain operations; retail sales and equipment rentals; and other on-mountain revenue, which includes private ski club revenue (which includes both club dues and amortization of initiation fees), marketing and internet advertising revenue, municipal services and lodging and transportation operations at the Company&#8217;s Australian ski areas. Revenue is recognized over time as performance obligations are satisfied </span></div></td></tr></table><div style="line-height:120%;padding-left:48px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">as control of the good or service (e.g. access to ski areas, provision of ski school services, etc.) is transferred to the customer, except for the Company&#8217;s retail sales and dining operations revenues which are recognized at a point in time when performance obligations are satisfied by transferring control of the underlying goods to the customer. The Company records deferred revenue primarily related to the sale of pass products. Deferred revenue is generally recognized throughout the ski season as the Company&#8217;s performance obligations are satisfied as control of the service (e.g. access to ski areas throughout the ski season) is transferred to the customer. Transfer of control is based on an estimated number of pass product holder visits relative to total expected visits. Total expected visits are estimated based on historical data, and the Company believes this estimate provides a faithful depiction of its customers&#8217; pass product usage. When sufficient historical data to determine usage patterns is not available, such as in the case of new product offerings, deferred revenue is recognized on a straight-line basis throughout the ski season until sufficient historical usage patterns are available. The Company also includes other sources of revenue, primarily related to commercial leasing and employee housing leasing arrangements, within other mountain revenue.</span></div><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging revenue is derived from a wide variety of sources, including, among other things: revenue from owned hotel rooms and managed hotel rooms; revenue from hotel dining operations; transportation revenue which relates to the Company&#8217;s Colorado resort ground transportation operations; and other lodging revenue which includes property management services, managed properties other costs reimbursements, private golf club revenue (which includes both club dues and amortization of initiation fees), and golf course fees. Lodging revenue also includes managed hotel property payroll cost reimbursements related to payroll costs at managed properties where the Company is the employer, which are reimbursed by the owner with no added margin. Therefore, these revenues and corresponding expenses have no net effect on the Company&#8217;s operating income or net income. Other than revenue from dining operations, lodging revenue is mostly recognized over time as performance obligations are satisfied as control of the service (e.g. nightly hotel room access) is transferred to the customer. </span></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate revenue primarily relates to the sale of development land parcels. Real estate revenue is generally recognized at a point in time when performance obligations have been satisfied, which is usually upon closing of the sales transaction and in an amount that reflects the consideration to which the Company expects to be entitled.</span></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">For certain contracts that have an original term length of one year or less, the Company uses the practical expedient applicable to such contracts and does not consider the time value of money. For contracts with an expected term in excess of one year, the Company has considered the provisions of Topic 606 in determining whether contracts contain a financing component. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company presents revenues in the accompanying Consolidated Statements of Operations, net of taxes, when collected from its customers that are remitted or payable to government taxing authorities, except when products are inclusive of taxes where applicable.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the COVID-19 pandemic, the Company closed its North American destination mountain resorts, regional ski areas and retail stores beginning on March 15, 2020. To encourage the Company&#8217;s pass product holders to renew their pass purchases for next season following the closures this past spring, the Company announced a credit offer on April 27, 2020 for existing 2019/2020 North American ski season pass product holders to purchase 2020/2021 North American ski season pass products at a discount (the &#8220;Credit Offer&#8221;). The Credit Offer discounts range from a minimum of 20% to a maximum of 80% for 2019/2020 season pass holders, depending on the number of days the pass holder used their pass product during the 2019/2020 North American ski season and a credit, with no minimum, but up to 80% for multi-day pass products, such as the Epic Day Pass, based on total unused days. For accounting purposes, the Credit Offer constituted a material right to existing 2019/2020 pass product holders to which the Company allocated a transaction price of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$120.9 million</span></span><span style="font-family:inherit;font-size:10pt;">. As a result, the Company deferred </span><span style="font-family:inherit;font-size:10pt;"><span>$120.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of pass product revenue, which would have been recognized as lift revenue during the year ended July 31, 2020. The Company expects to recognize the revenue associated with the Credit Offer in the second and third fiscal quarters of the fiscal year ending July 31, 2021 or the second and third fiscal quarters of the fiscal year ending July 31, 2022. While the Company expects most of this revenue to be recognized during Fiscal 2021, in the event that a pass holder obtains a refund under Epic Coverage for the 2020/2021 ski season and is eligible to utilize their credit toward the purchase of a pass product for the 2021/2022 ski season, a portion of this deferred revenue and related deferred cost will be recognized in Fiscal 2022. In addition, as a result of the pass product revenue deferral, the Company also deferred approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$2.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> of the associated costs of obtaining a contract (primarily credit card processing fees), which will be recognized commensurate with the associated deferred revenue.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated the standalone selling price of the Credit Offer by utilizing historical pass holder renewal data to estimate the total amount of credits that are expected to be redeemed. Estimates and assumptions made regarding expected renewal rates impacted the estimate of the transaction price allocated to the Credit Offer and could vary materially from the amount of revenue deferred depending upon actual customer redemptions.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstatePolicyTextBlock', window );">Real Estate Cost of Sales</a></td>
<td class="text"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Real Estate Cost of Sales &#8212;</span> Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and sales commission expense. The Company utilizes the relative sales value method to determine cost of sales for condominium units sold within a project when specific identification of costs cannot be reasonably determined.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign Currency Transactions and Translations Policy [Policy Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Translation &#8212; </span><span style="font-family:inherit;font-size:10pt;">The functional currency of the Company&#8217;s entities operating outside of the United States is the principal currency of the economic environment in which the entity primarily generates and expends cash, which is generally the local currency. The assets and liabilities of these foreign operations are translated at the exchange rate in effect as of the balance sheet dates. Income and expense items are translated using the weighted average exchange rate for the period. Translation adjustments from currency exchange, including intercompany transactions of a long-term nature, are recorded in accumulated other comprehensive loss as a separate component of stockholders&#8217; equity. Intercompany transactions that are not of a long-term nature are reported as gains and losses within &#8220;segment operating expense&#8221; and for intercompany loans within foreign currency loss on intercompany loans on the Company&#8217;s Consolidated Statements of Operations.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilityReserveEstimatePolicy', window );">Reserve Estimates</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reserve Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company uses estimates to record reserves for certain liabilities, including medical claims, workers&#8217; compensation claims, third-party loss contingencies and property taxes, among other items. The Company estimates the probable costs related to these liabilities that will be incurred and records that amount as a liability in its Consolidated Financial Statements. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, the Company records, as applicable, receivables related to insurance recoveries for loss contingencies if deemed probable of recovery. These estimates are reviewed and adjusted as the facts and circumstances change. The Company records legal costs related to defending claims as incurred.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdvertisingCostsPolicyTextBlock', window );">Advertising Costs</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Advertising Costs &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> was </span><span style="font-family:inherit;font-size:10pt;"><span>$41.6 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$44.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$39.8 million</span></span><span style="font-family:inherit;font-size:10pt;">, respectively, and was recorded within Mountain and Lodging operating expenses on the Company&#8217;s Consolidated Statement of Operations. </span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Income tax expense includes U.S. tax (federal and state) and foreign income taxes. The Company&#8217;s provision for income taxes is based on pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carrybacks or carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company&#8217;s deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is &#8220;more-likely-than-not&#8221; to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the largest tax benefit that is cumulatively greater than </span><span style="font-family:inherit;font-size:10pt;">50%</span><span style="font-family:inherit;font-size:10pt;"> likely of being realized upon ultimate settlement. Interest and penalties accrued in connection with uncertain tax positions are recognized as a component of income tax expense. See Note 11 &#8220;Income Taxes&#8221; for more information.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value of Financial Instruments</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value of Financial Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The recorded amounts for cash and cash equivalents, restricted cash, receivables, other current assets and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Company&#8217;s credit agreements and the Employee Housing Bonds (as defined in Note 6, Long-Term Debt) approximate book value due to the variable nature of the interest rate, which is a market rate, associated with the debt. The estimated fair value of the 6.25% Notes (as defined in Note 6, Long-Term Debt) is based on quoted market prices (a Level 2 input). The estimated fair value of the EPR Secured Notes and EB-5 Development Notes (each as defined in Note 6, Long-Term Debt), have been estimated using analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 2 input). The carrying values, including any unamortized premium or discount, and estimated fair values of the 6.25% Notes, EPR Secured Notes and EB-5 Development Notes as of July 31, 2020 are presented below (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Carrying Value</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>600,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>643,500</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>137,314</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>150,628</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,833</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,212</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Stock-Based Compensation</a></td>
<td class="text"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Stock-Based Compensation &#8212;</span><span style="font-family:inherit;font-size:10pt;"> Stock-based compensation expense is measured at the grant date based upon the estimated fair value of the award and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17 &#8220;Stock Compensation Plan&#8221; for more information), less the amount of forfeited awards which are recorded as they occur. The following table shows total net stock-based compensation expense for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> included in the Consolidated Statements of Operations (in thousands):</span><span style="font-family:inherit;font-size:9pt;">&#160;</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain stock-based compensation expense</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,410</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,474</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,716</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,399</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,219</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,215</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>212</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>163</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pre-tax stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,021</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,856</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,040</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: benefit from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,027</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,589</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,406</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net stock-based compensation expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,994</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,267</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,634</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ConcentrationOfCreditRiskPolicyTextBlock', window );">Concentration of Credit Risk</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company&#8217;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high-</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">quality credit institutions. The Company does not enter into financial instruments for trading or speculative purposes. Concentration of credit risk with respect to accounts and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock', window );">Derivative Instruments and Hedging Activities Disclosure [Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting for Hedging Instruments &#8212;</span><span style="font-family:inherit;font-size:10pt;"> From time to time, the Company enters into interest rate swaps (the &#8220;Interest Rate Swaps&#8221;) to hedge the variability in cash flows associated with variable-rate borrowings by converting the floating interest rate to a fixed interest rate. As of July 31, 2020, the Company hedged the future cash flows associated with </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> of the principal amount outstanding of its Vail Holdings Credit Agreement (as defined in Note 6 &#8220;Long-Term Debt&#8221;), which were designated as cash flow hedges. The accounting for changes in fair value of hedging instruments depends on the effectiveness of the hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Company to risks associated with market fluctuations and the financial instrument used must reduce the Company&#8217;s exposure to market fluctuation throughout the hedge period. Changes in estimated fair value of the Interest Rate Swaps are recorded within change in estimated fair value of hedging instruments on the Company&#8217;s Consolidated Statements of Comprehensive Income, and such change was recorded as a loss of </span><span style="font-family:inherit;font-size:10pt;"><span>$22.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> during the year ended July 31, 2020. Such amounts are reclassified into interest expense, net from other comprehensive income during the period in which the hedged item affects earnings. As of July 31, 2020, the estimated fair value of the Interest Rate Swaps was a liability of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$22.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> and was recorded within other long-term liabilities on the Company&#8217;s Consolidated Balance Sheet, and the impact of the underlying cash flows associated with the Interest Rate Swaps are recorded within interest expense, net on the Company&#8217;s Consolidated Statements of Operations. See Note 10 &#8220;Fair Value Measurements&#8221; for more information.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LesseeLeasesPolicyTextBlock', window );">Lessee, Leases [Policy Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Leases &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The Company determines if an arrangement is or contains a lease at inception or modification of the arrangement. An arrangement is or contains a lease if there is one or more assets identified and the right to control the use of any identified asset is conveyed to the Company for a period of time in exchange for consideration. Control over the use of an identified asset means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Generally, the Company classifies a lease as a finance lease if the terms of the agreement effectively transfer control of the underlying asset; otherwise, it is classified as an operating lease.&#160;For contracts that contain lease and non-lease components, the Company accounts for these components separately. For leases with terms greater than twelve months, the associated lease right-of-use (&#8220;ROU&#8221;) assets and lease liabilities are recognized at the estimated present value of future lease payments over the lease term at commencement date. The Company&#8217;s leases do not provide a readily determinable implicit rate; therefore, the Company uses an estimated incremental borrowing rate to discount the future minimum lease payments. For leases containing fixed rental escalation clauses, the escalators are factored into the determination of future minimum lease payments. The Company includes options to extend a lease when it is reasonably certain that such options will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. See&#160;Note 4 &#8220;Leases&#8221; for more information.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates, Policy [Policy Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates &#8212;</span><span style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">New Accounting Pronouncements, Policy [Policy Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Adopted Standards</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In February 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2016-02, &#8220;Leases (Topic 842),&#8221; which supersedes &#8220;Leases (Topic 840).&#8221; The standard requires lessees to recognize the assets and liabilities arising from all leases on the balance sheet, including those classified as operating leases under previous accounting guidance, and to disclose key information about leasing arrangements. The standard also allows for an accounting policy election not to recognize on the balance sheet lease assets and liabilities for leases with a term of twelve months or less. Under the new guidance, lessees are required to recognize a lease liability and an ROU asset on their balance sheets, while lessor accounting is largely unchanged. In July 2018, the FASB released ASU No. 2018-11, &#8220;Leases (Topic 842): Targeted Improvements&#8221; which, among other items, provided an additional and optional transition method. Under this method, an entity initially applies the standard at the adoption date, including the election of certain transition reliefs, and recognizes a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company adopted ASU No. 2016-02 on August 1, 2019 using the modified retrospective transition method as provided by the standard. In accordance with this transition method, results for reporting periods beginning on August 1, 2019 are presented under the new standard, while prior periods were not adjusted and continue to be reported in accordance with the previously </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">applicable accounting guidance. The Company has elected the package of practical expedients permitted under the transition guidance which allowed the Company to not reassess: (i) whether any existing or expired contracts are or contain leases; (ii) lease classification of any expired or existing leases; or (iii) initial direct costs for any existing leases. The Company has made an accounting policy election to not record leases on the balance sheet with an initial term of twelve months or less. The Company will recognize those lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term. Additionally, the Company has elected the practical expedient to not evaluate existing or expired land easements that were not previously accounted for as leases. At adoption, the Company was not able to determine the interest rate implicit in its leases; therefore, for existing operating leases, the lease liability was measured using the Company&#8217;s estimated incremental borrowing rate. For existing leases, the incremental borrowing rate used was based on the remaining lease term at the adoption date. For leases with minimum lease payments adjusted periodically for inflation, the lease liability was measured using the minimum lease payments adjusted by the inflation index at the adoption date.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On August 1, 2019, as a result of adopting the standard, the Company recorded </span><span style="font-family:inherit;font-size:10pt;"><span>$221.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> of operating ROU assets and </span><span style="font-family:inherit;font-size:10pt;"><span>$254.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of related total operating lease liabilities in the Consolidated Balance Sheet (of which </span><span style="font-family:inherit;font-size:10pt;"><span>$219.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in operating lease liabilities and </span><span style="font-family:inherit;font-size:10pt;"><span>$34.9 million</span></span><span style="font-family:inherit;font-size:10pt;"> was included in accounts payable and accrued liabilities). As a result of the adoption, the Company reclassified </span><span style="font-family:inherit;font-size:10pt;"><span>$32.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> of unfavorable lease obligations, deferred rent credits and other related amounts to the operating ROU assets balance, primarily from other long-term liabilities, which reduced the amount recognized as operating ROU assets to </span><span style="font-family:inherit;font-size:10pt;"><span>$221.8 million</span></span><span style="font-family:inherit;font-size:10pt;">. The adoption of the new lease standard did not result in a cumulative effect adjustment to beginning retained earnings, and did not materially affect the Company&#8217;s Consolidated Statement of Operations or Consolidated Statement of Cash Flows for the year ended July 31, 2020. The Company&#8217;s Canyons finance lease was not affected by the implementation of this standard as the arrangement is classified and recorded as a finance lease arrangement under both the previous and new accounting guidance.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In April 2020, the FASB issued clarifying guidance on accounting for certain lease concessions related to the effects of the COVID-19 pandemic under ASC Topic 842, allowing companies to make an election to either account for such lease concessions (i) in the period that they occur as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract) or (ii) ratably over the remainder of the lease term as modifications to the contract. The Company made a policy election to account for such lease concessions as though enforceable rights and obligations to make those concessions existed in the contracts and as a result, will account for concessions in the period in which they occur. This election did not have a material impact on the Company&#8217;s Consolidated Financial Statements for the year ended July 31, 2020.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted', window );">New Accounting Standards</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Standards Being Evaluated</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2020, the FASB issued ASU 2020-04, &#8220;Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.&#8221; The ASU provides optional transition guidance, for a limited time, to companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (&#8220;LIBOR&#8221;) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 through December 31, 2022. The amendments in this update may be applied as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. All other amendments should be applied on a prospective basis. The Company is in the process of evaluating the effect that the adoption of this standard will have on its Consolidated Financial Statements.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ConcentrationOfCreditRiskPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ConcentrationOfCreditRiskPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdvertisingCostsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for advertising cost.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 35<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6420018&amp;loc=d3e36677-107848<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvertisingCostsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4273-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConsolidationPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=d3e5614-111684<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredChargesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for deferral and amortization of significant deferred charges.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredChargesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -URI http://asc.fasb.org/topic&amp;trid=2229140<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -URI http://asc.fasb.org/topic&amp;trid=2122394<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfFinancialInstrumentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121572278&amp;loc=d3e13279-108611<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfFinancialInstrumentsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -URI http://asc.fasb.org/topic&amp;trid=2175825<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16265-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226317&amp;loc=d3e202-110218<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.CC)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011434&amp;loc=d3e125687-122742<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e32247-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=116657188&amp;loc=SL116659661-227067<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e32280-109318<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=116847112&amp;loc=d3e4556-108314<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=116847112&amp;loc=d3e4492-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116846552&amp;loc=d3e543-108305<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -URI http://asc.fasb.org/topic&amp;trid=2126998<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeLeasesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for leasing arrangement entered into by lessee.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918666-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeLeasesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilityReserveEstimatePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for estimating its liability as of the balance sheet date for the ultimate cost of settling reported and unreported claims incurred and claims adjustment expenses (including effects of inflation and other societal and economic factors).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -URI http://asc.fasb.org/subtopic&amp;trid=2560295<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilityReserveEstimatePolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 360<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120429125&amp;loc=d3e99779-112916<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 360<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120429125&amp;loc=d3e99893-112916<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for real estate held for development or sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 360<br> -Section 35<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6496927&amp;loc=d3e30448-110314<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateHeldForDevelopmentAndSalePolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstatePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 15<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6450852&amp;loc=d3e24871-108386<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 970<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121604013&amp;loc=d3e24546-110282<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstatePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=SL98516268-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5047-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TradeAndOtherAccountsReceivablePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for accounts receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=d3e4975-111524<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=d3e5212-111524<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=SL6953423-111524<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=d3e5093-111524<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=d3e5033-111524<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84159169&amp;loc=d3e10133-111534<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TradeAndOtherAccountsReceivablePolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UseOfEstimates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6191-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6161-108592<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6143-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6061-108592<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6132-108592<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e5967-108592<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UseOfEstimates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777798008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock', window );">Summary On Estimated Useful Life Of Property, Plant And Equipment</a></td>
<td class="text">Depreciation is calculated on the straight-line method, including property, plant and equipment under capital leases, generally based on the following useful lives:<div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"/></tr><tr><td style="width:78%;"/><td style="width:22%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated&#160;Life</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">in Years</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land improvements</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">10-35</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">7-30</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2-30</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">3-10</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Allocation Of Stock-Based Compensation Expense</a></td>
<td class="text">The following table shows total net stock-based compensation expense for the years ended <span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> included in the Consolidated Statements of Operations (in thousands):</span><span style="font-family:inherit;font-size:9pt;">&#160;</span><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain stock-based compensation expense</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,410</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,474</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,716</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,399</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,219</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,215</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>212</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>163</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pre-tax stock-based compensation expense</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,021</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,856</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,040</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: benefit from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,027</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,589</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,406</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net stock-based compensation expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,994</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,267</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,634</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=115993241&amp;loc=d3e301413-122809<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5047-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772033464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenues (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueTableTextBlock', window );">Disaggregation of Revenue [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Disaggregation of Revenues</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents net revenues disaggregated by segment and major revenue type for the years ended July 31, 2020, 2019 and 2018 (in thousands):</span></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"/></tr><tr><td style="width:58%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain net revenue:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>913,091</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,033,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>880,293</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski School</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,131</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,060</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,910</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>160,763</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>181,837</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/Rental</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,299</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>320,267</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>296,466</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>177,159</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>205,803</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>194,851</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,710,443</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,956,201</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,722,922</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging net revenue:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;Owned hotel rooms</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,992</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>64,826</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>65,252</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Managed condominium rooms</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76,480</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86,236</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,198</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,252</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,730</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48,554</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Transportation</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>15,796</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,275</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,111</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Golf</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,412</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,648</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,110</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,933</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>54,617</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,577</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>237,865</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>300,332</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,802</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;text-indent:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payroll cost reimbursements</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,549</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,841</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Lodging net revenue </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>248,414</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,662</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>284,643</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,958,857</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,270,863</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,007,565</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Real Estate net revenue</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,847</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>712</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,988</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisaggregationOfRevenueTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130545-203045<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisaggregationOfRevenueTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777542296">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 390,980<span></span>
</td>
<td class="nump">$ 108,850<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">11,106<span></span>
</td>
<td class="nump">9,539<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net of allowances of $2,484 and $724, respectively</a></td>
<td class="nump">106,664<span></span>
</td>
<td class="nump">270,896<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories, net of reserves of $4,447 and $2,031, respectively</a></td>
<td class="nump">101,856<span></span>
</td>
<td class="nump">96,539<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">54,482<span></span>
</td>
<td class="nump">42,116<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">665,088<span></span>
</td>
<td class="nump">527,940<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment, net (Note 8)</a></td>
<td class="nump">2,192,679<span></span>
</td>
<td class="nump">1,842,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InventoryRealEstate', window );">Real estate held for sale and investment</a></td>
<td class="nump">96,844<span></span>
</td>
<td class="nump">101,021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Deferred charges and other assets</a></td>
<td class="nump">40,081<span></span>
</td>
<td class="nump">40,237<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, net (Note 8)</a></td>
<td class="nump">1,709,020<span></span>
</td>
<td class="nump">1,608,206<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Intangible assets, net (Note 8)</a></td>
<td class="nump">314,776<span></span>
</td>
<td class="nump">306,173<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Operating right-of-use assets (Note 4)</a></td>
<td class="nump">225,744<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">5,244,232<span></span>
</td>
<td class="nump">4,426,077<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Stockholders&#8217; Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AccountsPayableAccruedLiabilities', window );">Accounts payable and accrued liabilities (Note 8)</a></td>
<td class="nump">499,108<span></span>
</td>
<td class="nump">607,857<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
<td class="nump">40,680<span></span>
</td>
<td class="nump">62,760<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent', window );">Long-term debt due within one year (Note 6)</a></td>
<td class="nump">63,677<span></span>
</td>
<td class="nump">48,516<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">603,465<span></span>
</td>
<td class="nump">719,133<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtAndCapitalLeaseObligations', window );">Long-term debt, net (Note 6)</a></td>
<td class="nump">2,387,122<span></span>
</td>
<td class="nump">1,527,744<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Operating lease liabilities (Note 4)</a></td>
<td class="nump">217,542<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OtherLongTermLiabilitiesNoncurrent', window );">Other long-term liabilities (Note 8)</a></td>
<td class="nump">270,245<span></span>
</td>
<td class="nump">283,601<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilitiesNet', window );">Deferred income taxes, net (Note 11)</a></td>
<td class="nump">234,191<span></span>
</td>
<td class="nump">168,759<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">3,712,565<span></span>
</td>
<td class="nump">2,699,237<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies (Note 13)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract', window );"><strong>Stockholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value, 100,000 shares authorized and 46,350 and 46,190 shares issued, respectively</a></td>
<td class="nump">464<span></span>
</td>
<td class="nump">461<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ExchangeableSharesValueIssued', window );">Exchangeable shares, $0.01 par value, 36 and 56 shares issued and outstanding, respectively (Note 5)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">1,131,624<span></span>
</td>
<td class="nump">1,130,083<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss</a></td>
<td class="num">(56,837)<span></span>
</td>
<td class="num">(31,730)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">645,902<span></span>
</td>
<td class="nump">759,801<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock, at cost; 6,161 and 5,905 shares, respectively (Note 16)</a></td>
<td class="num">(404,411)<span></span>
</td>
<td class="num">(357,989)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Vail Resorts, Inc. stockholders&#8217; equity</a></td>
<td class="nump">1,316,742<span></span>
</td>
<td class="nump">1,500,627<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Noncontrolling interests</a></td>
<td class="nump">214,925<span></span>
</td>
<td class="nump">226,213<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total stockholders&#8217; equity</a></td>
<td class="nump">1,531,667<span></span>
</td>
<td class="nump">1,726,840<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders&#8217; equity</a></td>
<td class="nump">$ 5,244,232<span></span>
</td>
<td class="nump">$ 4,426,077<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AccountsPayableAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AccountsPayableAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ExchangeableSharesValueIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued Exchangeable shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ExchangeableSharesValueIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OtherLongTermLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OtherLongTermLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4428-111522<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4531-111522<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(b)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e637-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669686-108580<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e681-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6801-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121557415&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=120320667&amp;loc=SL49117168-202975<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=99380562&amp;loc=d3e13770-109266<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph ((a)(1),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=116870748&amp;loc=SL6758485-165988<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121559654&amp;loc=d3e5710-111685<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtAndCapitalLeaseObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt and lease obligation, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtAndCapitalLeaseObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt and lease obligation, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncurrent assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21930-107793<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=118261656&amp;loc=d3e32136-110900<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21914-107793<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 10<br> -Section 65<br> -Paragraph 4<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121646688&amp;loc=SL121648383-210437<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568740-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4590271-111686<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118261656&amp;loc=d3e32211-110900<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21711-107793<br><br>Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568447-111683<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 65<br> -Paragraph 8<br> -Subparagraph (d)(2)<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 65<br> -Paragraph 8<br> -Subparagraph (d)(3)<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773502504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeasesAbstract', window );"><strong>Leases [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseCostTableTextBlock', window );">Lease, Cost [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of lease expense for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance leases:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortization of the finance ROU assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,753</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on lease liabilities </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,035</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating leases:</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease expense</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,303</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Short-term lease expense </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,943</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Variable lease expense </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,583</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashFlowSupplementalDisclosuresTextBlock', window );">Cash Flow, Supplemental Disclosures [Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following table presents the supplemental cash flow information associated with the Company&#8217;s leasing activities for the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended <br/>July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Cash flow supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for operating leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>55,344</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating cash outflows for finance leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,311</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Financing cash outflows for finance leases </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,387</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Non-cash supplemental information:</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating ROU assets obtained in exchange for operating lease obligations </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,013</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock', window );">Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average remaining lease terms and discount rates are as follows:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:78%;"/><td style="width:1%;"/><td style="width:20%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">As of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average remaining lease term (in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10.6</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42.9</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-average discount rate </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating leases</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.5</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Finance leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10.0</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock', window );">Schedule of Future Minimum Lease Payments [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future lease payments for operating and finance leases as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year (August 1 through July 31) are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:57%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance Leases </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>47,013</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,818</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,699</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,394</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,353</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,982</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,431</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,582</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>32,405</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>31,193</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>137,501</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,773,855</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments </span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>333,402</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,923,824</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest </span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(79,256</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,577,790</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total lease liabilities </span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>254,146</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>346,034</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The current portion of operating lease liabilities of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$36.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is recorded within accounts payables and accrued liabilities in the Consolidated Balance Sheet. Finance lease liabilities are recorded within long-term debt, net in the Consolidated Balance Sheets.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Future minimum lease payments in accordance with Topic 840 as of July 31, 2019, reflected by fiscal year (August 1 through July 31), were as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:57%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Operating Leases</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Capital Leases</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>44,984</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,253</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,512</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,818</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>39,440</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,394</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,840</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29,982</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,836</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>30,582</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>142,526</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,805,048</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total future minimum lease payments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,138</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,952,077</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less amount representing interest</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,611,816</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net future minimum lease payments</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,261</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of Future Minimum Lease Payments [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowSupplementalDisclosuresTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -URI http://asc.fasb.org/topic&amp;trid=2134446<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFlowSupplementalDisclosuresTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseCostTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseCostTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773501064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net Income Per Common Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareReconciliationAbstract', window );"><strong>Earnings Per Share Reconciliation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Summary Of Calculation On Basic And Diluted EPS</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Presented below is basic and diluted EPS for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;"> (in thousands, except per share amounts):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="19"/></tr><tr><td style="width:46%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:7%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Basic</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Diluted</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net income per share:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,227</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,227</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,292</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,292</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,337</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,337</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Weighted-average Exchangeco shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Weighted-average shares outstanding</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effect of dilutive securities</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>565</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>809</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total shares</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,273</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,838</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,349</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,158</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40,397</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,618</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.42</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.46</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9.40</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9.13</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareReconciliationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareReconciliationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773520840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule Of Long-Term Debt</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> is summarized as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"/></tr><tr><td style="width:52%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Maturity</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July&#160;31, <br/>2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>208,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Holdings Credit Agreement term loan </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,203,125</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>914,375</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.25% Notes</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(b)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2025</span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>600,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Whistler Credit Agreement revolver </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2024</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>58,236</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>45,454</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EPR Secured Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(d)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2034-2036</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>114,162</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">EB-5 Development Notes </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(e)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2021</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>51,500</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Employee housing bonds </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(f)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2027-2039</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(g)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2063</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>346,034</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,261</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#160;(h)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2020-2033</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,616</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,465</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,444,248</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,580,130</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Unamortized premiums, discounts and debt issuance costs </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(i)</sup></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(6,551</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,870</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Less: Current maturities </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(j)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,677</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>48,516</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Long-term debt, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,387,122</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,527,744</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(a)</span><span style="font-family:inherit;font-size:10pt;">On September 23, 2019, in order to fund the acquisition of Peak Resorts, Inc. (&#8220;Peak Resorts&#8221;), which included the prepayment of certain portions of the outstanding debt and lease obligations of Peak Resorts contemporaneous with the closing of the transaction (see Note 7, Acquisitions), the Company&#8217;s wholly-owned subsidiary, Vail Holdings, Inc. (&#8220;VHI&#8221;), entered into the Second Amendment to the Eighth Amended and Restated Credit Agreement (the &#8220;Vail Holdings Credit Agreement&#8221;), with Bank of America, N.A., as administrative agent, and other lenders named therein, through which those lenders agreed to provide an additional </span><span style="font-family:inherit;font-size:10pt;"><span>$335.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> in incremental term loans and agreed, on behalf of all lenders, to extend the maturity date for the outstanding term loans and revolver facility under the Vail Holdings Credit Agreement to September 23, 2024. No other material terms of the Vail Holdings Credit Agreement were altered under the amendment. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On April 28, 2020, VHI, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into a Third Amendment to the Vail Holdings Credit Agreement (the&#160;&#8220;Third Amendment&#8221;). Pursuant to the Third Amendment, among other terms, VHI is exempt from complying with the Vail Holdings Credit Agreement&#8217;s maximum leverage ratio and minimum interest coverage ratio financial maintenance covenants for each of the fiscal quarters ending July 31, 2020 through January 31, 2022 (unless VHI makes a one-time irrevocable election to terminate such exemption period prior to such date) (such period, the &#8220;Financial Covenants Temporary Waiver Period&#8221;), after which VHI will again be required to comply with such covenants starting with the fiscal quarter ending April 30, 2022 (or such earlier fiscal quarter as elected by VHI). After the expiration of the Financial Covenants Temporary Waiver Period:</span></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the maximum leverage ratio permitted under the maximum leverage ratio financial maintenance covenant reduces each quarter as follows:</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(A) first full fiscal quarter: 6.25 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(B) second full fiscal quarter: 5.75 to 1.00;</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(C) third full fiscal quarter: 5.25 to 1.00; and</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(D) fourth full fiscal quarter and for each fiscal quarter thereafter: 5.00 to 1.00.</span></div><div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">the minimum interest coverage ratio permitted under the minimum interest coverage ratio financial maintenance covenant will be 2.00 to 1.00. </span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, VHI is required to comply with a monthly minimum liquidity test (liquidity is defined as unrestricted cash and temporary cash investments of VRI and its restricted subsidiaries and available commitments under the Vail Holdings Credit Agreement revolver) of not less than </span><span style="font-family:inherit;font-size:10pt;"><span>$150.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, during the period that began on July 31, 2020 and ending on the date VHI delivers a compliance certificate for the Company and its subsidiaries&#8217; first fiscal quarter following the end of the Financial Covenants Temporary Waiver Period.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is prohibited from the following activities during the Financial Covenants Temporary Waiver Period (unless approval is obtained by a majority of the Lenders):</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">paying any dividends or making share repurchases, unless (x) no default or potential default exists under the Vail Holdings Credit Agreement and (y) the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, and the aggregate amount of dividends paid and share repurchases made by the Company during the Financial Covenants Temporary Waiver Period may not exceed </span><span style="font-family:inherit;font-size:10pt;"><span>$38.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> in any fiscal quarter;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making capital expenditures in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$200.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> per 12-month period ending January 31, other than non-recurring extraordinary capital expenditures incurred in connection with emergency repairs, life safety repairs or ordinary course maintenance repairs;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">incurring any indebtedness secured by the collateral under the Vail Holdings Credit Agreement other than pursuant to the existing revolving commitments under the Credit Agreement;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making non-ordinary course investments in unrestricted subsidiaries unless the Company has liquidity (as defined above) of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$300.0 million</span></span><span style="font-family:inherit;font-size:10pt;">;</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">making investments in non-subsidiaries in excess of </span><span style="font-family:inherit;font-size:10pt;"><span>$50.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> in the aggregate; and</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:54px;"><span style="font-family:inherit;font-size:10pt;">&#8226;</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">acquiring all or a majority of the capital stock or all or any substantial portion of the assets of any entity or merging or consolidating with another entity.</span></div></td></tr></table><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the Financial Covenants Temporary Waiver Period, borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% and, for amounts in excess of $400.0 million, LIBOR is subject to a floor of 0.75%. In addition, pursuant to the Third Amendment, the amount by which we are able to increase availability (under the revolver or in the form of term loans) was increased to an aggregate principal amount not to exceed the greater of (i) </span><span style="font-family:inherit;font-size:10pt;"><span>$2.25 billion</span></span><span style="font-family:inherit;font-size:10pt;"> and (ii) the product of 3.25 and the trailing four-quarter Adjusted EBITDA (as defined in the Credit Agreement). </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Vail Holdings Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>$500.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility and a </span><span style="font-family:inherit;font-size:10pt;"><span>$1.2 billion</span></span><span style="font-family:inherit;font-size:10pt;"> outstanding term loan facility. The term loan facility is subject to quarterly amortization of principal of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$15.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> (which began in January&#160;2020), in equal installments, for a total of 5% of principal payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due in September 2024. The proceeds of the loans made under the Vail Holdings Credit Agreement may be used to fund the Company&#8217;s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit, subject to the Financial Covenants Temporary Waiver Period limitations, as discussed above. Borrowings under the Vail Holdings Credit Agreement, including the term loan facility, bear interest annually at LIBOR plus 2.50% as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>2.66%</span></span><span style="font-family:inherit;font-size:10pt;"> as of July 31, 2020 for $400.0 million of borrowings, and for amounts in excess of $400.0 million in which LIBOR is subject to a floor of 0.75% during the Financial Covenants Temporary Waiver Period, </span><span style="font-family:inherit;font-size:10pt;"><span>3.25%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). Other than as impacted by the provisions in place during the Financial Covenants Temporary Waiver Period, interest rate margins may fluctuate based upon the ratio of the Company&#8217;s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis. The Vail Holdings Credit Agreement also includes a quarterly unused commitment fee, which is equal to a percentage determined by the Net Funded Debt to Adjusted EBITDA ratio, as each such term is defined in the Vail Holdings Credit Agreement, multiplied by the daily amount by which the Vail Holdings Credit Agreement commitment exceeds the total of outstanding loans and outstanding letters of credit (</span><span style="font-family:inherit;font-size:10pt;"><span>0.4%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). During the year ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, the Company entered into various interest rate swap agreements to hedge the LIBOR-based variable interest rate component of underlying cash flows of </span><span style="font-family:inherit;font-size:10pt;"><span>$400.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> in principal amount of its Vail Holdings Credit Agreement for the remaining term of the agreement at an effective rate of </span><span style="font-family:inherit;font-size:10pt;"><span>1.46%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(b)</span><span style="font-family:inherit;font-size:10pt;">On May 4, 2020, the Company completed its offering of </span><span style="font-family:inherit;font-size:10pt;"><span>$600 million</span></span><span style="font-family:inherit;font-size:10pt;"> aggregate principal amount of </span><span style="font-family:inherit;font-size:10pt;"><span>6.25%</span></span><span style="font-family:inherit;font-size:10pt;"> senior notes due 2025 at par (the &#8220;Notes&#8221;), and a portion of the net proceeds were utilized to pay down the outstanding balance of the revolver component of its Vail Holdings Credit Agreement in its entirety (which will continue to be available to the Company to borrow including throughout the Financial Covenants Temporary Waiver Period) and to pay the fees and expenses associated with the offering, with the remaining net proceeds intended to be used for general corporate purposes.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2020. The Notes will mature on May 15, 2025. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2022 </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">at the redemption prices specified in an Indenture dated as of May 4, 2020 (the &#8220;Indenture&#8221;) plus accrued and unpaid interest. Prior to May 15, 2022, the Company may redeem some or all of the Notes at a redemption price of </span><span style="font-family:inherit;font-size:10pt;">100%</span><span style="font-family:inherit;font-size:10pt;"> of the principal amount, plus accrued and unpaid interest, plus a &#8220;make-whole&#8221; premium as specified in the Indenture.</span><span style="font-family:inherit;font-size:10pt;"><span> In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. </span></span><span style="font-family:inherit;font-size:10pt;">The Notes are senior unsecured obligations of the Company, are guaranteed by certain of the Company&#8217;s domestic subsidiaries, and rank equally in right of payment with existing and future senior indebtedness of the Company and the guarantors (as defined in the Indenture).</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture requires that, upon the occurrence of a Change of Control (as defined in the Indenture), the Company shall offer to purchase all of the outstanding Notes at a purchase price in cash equal to 101% of the outstanding principal amount of the Notes, plus accrued and unpaid interest. If the Company or certain of its subsidiaries dispose of assets, under certain circumstances, the Company will be required to either invest the net cash proceeds from such assets sales in its business within a specified period of time, repay certain senior secured debt or debt of its non-guarantor subsidiaries, or make an offer to purchase a principal amount of the Notes equal to the excess net cash proceeds at a purchase price of 100% of their principal amount, plus accrued and unpaid interest.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Indenture contains covenants that, among other things, restrict the ability of the Company and the guarantors to incur liens on assets; merge or consolidate with another company or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the Company&#8217;s assets or engage in Sale and Leaseback Transactions (as defined in the Indenture). The Indenture does not contain any financial maintenance covenants. Certain of the covenants will not apply to the Notes so long as the Notes have investment grade ratings from two specified rating agencies and no event of default has occurred and is continuing under the Indenture. The Indenture includes customary events of default, including failure to make payment, failure to comply with the obligations set forth in the Indenture, certain defaults on certain other indebtedness, certain events of bankruptcy, insolvency or reorganization, and invalidity of the guarantees of the Notes issued pursuant to the Indenture.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(c)</span><span style="font-family:inherit;font-size:10pt;">Whistler Mountain Resort Limited Partnership (&#8220;Whistler LP&#8221;) and Blackcomb Skiing Enterprises Limited Partnership (&#8220;Blackcomb LP&#8221;), together &#8220;The WB Partnerships,&#8221; are party to a credit agreement, dated as of </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">November 12, 2013</span></span></span><span style="font-family:inherit;font-size:10pt;"> (as amended, the &#8220;Whistler Credit Agreement&#8221;), by and among Whistler LP, Blackcomb LP, certain subsidiaries of Whistler LP and Blackcomb LP party thereto as guarantors (the &#8220;Whistler Subsidiary Guarantors&#8221;), the financial institutions party thereto as lenders and The Toronto-Dominion Bank, as administrative agent. The Whistler Credit Agreement consists of a </span><span style="font-family:inherit;font-size:10pt;"><span>C$300.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> revolving credit facility, and during the year ended July 31, 2020, the Company entered into an amendment of the Whistler Credit Agreement which extended the maturity date of the revolving credit facility to&#160;</span><span style="font-family:inherit;font-size:10pt;">December&#160;15, 2024</span><span style="font-family:inherit;font-size:10pt;">. No other material terms of the Whistler Credit Agreement were altered. The WB Partnerships&#8217; obligations under the Whistler Credit Agreement are guaranteed by the Whistler Subsidiary Guarantors and are collateralized by a pledge of the capital stock of the Whistler Subsidiary Guarantors and a pledge of substantially all of the assets of Whistler LP, Blackcomb LP and the Whistler Subsidiary Guarantors. In addition, pursuant to the terms of the Whistler Credit Agreement, the WB Partnerships have the ability to increase the commitment amount by up to&#160;C$75.0 million, subject to lender approval.&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#8217; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#8217; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#8217; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum</span></span><span style="font-family:inherit;font-size:10pt;">.&#160;As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, all borrowings under the Whistler Credit Agreement were made in Canadian dollars and by way of the issuance of bankers&#8217; acceptances plus </span><span style="font-family:inherit;font-size:10pt;">2.25%</span><span style="font-family:inherit;font-size:10pt;"> (approximately </span><span style="font-family:inherit;font-size:10pt;"><span>2.79%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">). The Whistler Credit Agreement also includes a quarterly unused commitment fee based on the Consolidated Total Leverage Ratio, which as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> is equal to </span><span style="font-family:inherit;font-size:10pt;"><span>0.5063%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum.&#160; The Whistler Credit Agreement provides for affirmative and negative covenants that restrict, among other things, the WB Partnerships&#8217; ability to incur indebtedness and liens, dispose of assets, make capital expenditures, make distributions and make investments. In addition, the Whistler Credit Agreement includes the restrictive financial covenants (leverage ratios and interest coverage ratios) customary for facilities of this type.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(d)</span><span style="font-family:inherit;font-size:10pt;">On September 24, 2019, in conjunction with the acquisition of Peak Resorts (see Note 7, Acquisitions), the Company assumed various secured borrowings (the &#8220;EPR Secured Notes&#8221;) under the master credit and security agreements and other related agreements, as amended, (collectively, the &#8220;EPR Agreements&#8221;) with EPT Ski Properties, Inc. and its affiliates (&#8220;EPR&#8221;). The EPR Secured Notes include the following:</span></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">i.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Alpine Valley Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$4.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> Alpine Valley Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>11.21%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">ii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Boston Mills/Brandywine Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$23.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> Boston Mills/Brandywine Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.75%</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iii.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Jack Frost/Big Boulder Secured Note. </span><span style="font-family:inherit;font-size:10pt;">The </span><span style="font-family:inherit;font-size:10pt;"><span>$14.3 million</span></span><span style="font-family:inherit;font-size:10pt;"> Jack Frost/Big Boulder Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.75%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">iv.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Mount Snow Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$51.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> Mount Snow Secured Note provides for interest payments through its maturity on December 1, 2034. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>11.78%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:88px;"/><td/></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:64px;"><span style="font-family:inherit;font-size:10pt;">v.</span></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">The Hunter Mountain Secured Note.</span><span style="font-family:inherit;font-size:10pt;"> The </span><span style="font-family:inherit;font-size:10pt;"><span>$21.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> Hunter Mountain Secured Note provides for interest payments through its maturity on January 5, 2036. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, interest on this note accrued at a rate of </span><span style="font-family:inherit;font-size:10pt;"><span>8.57%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The EPR Secured Notes are secured by all or substantially all of the assets of Peak Resorts and its subsidiaries, including mortgages on the Alpine Valley, Boston Mills, Brandywine, Jack Frost, Big Boulder, Mount Snow and Hunter Mountain ski resorts. The EPR Secured Notes bear interest at specified interest rates, as discussed above, which are subject to increase each year by the lesser of (i) three times the percentage increase in the Consumer Price Index or (ii) a capped index (the &#8220;Capped CPI Index&#8221;), which is </span><span style="font-family:inherit;font-size:10pt;"><span>1.75%</span></span><span style="font-family:inherit;font-size:10pt;"> for the Hunter Mountain Secured Note and </span><span style="font-family:inherit;font-size:10pt;"><span>1.50%</span></span><span style="font-family:inherit;font-size:10pt;"> for all other notes. The EPR Agreements provide for affirmative and negative covenants that restrict, among other things, the ability of Peak Resorts and its subsidiaries to incur indebtedness, dispose of assets, make distributions and make investments. In addition, the EPR Agreements include restrictive covenants, including maximum leverage ratio and consolidated fixed charge ratio. An additional contingent interest payment would be due to EPR if, on a calendar year basis, the gross receipts from the properties securing any of the individual EPR Secured Notes (the &#8220;Gross Receipts&#8221;) are more than the result (the &#8220;Interest Quotient&#8221;) of dividing the total interest charges for the EPR Secured Notes by a specified percentage rate (the &#8220;Additional Interest Rate&#8221;). In such a case, the additional interest payment would equal the difference between the Gross Receipts and the Interest Quotient multiplied by the Additional Interest Rate. This calculation is made on an aggregated basis for the notes secured by the Jack Frost, Big Boulder, Boston Mills, Brandywine and Alpine Valley ski resorts, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>10.0%</span></span><span style="font-family:inherit;font-size:10pt;">; on a standalone basis for the note secured by the Company&#8217;s Mount Snow ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>12.0%</span></span><span style="font-family:inherit;font-size:10pt;">; and on a standalone basis for the note secured by the Company&#8217;s Hunter Mountain ski resort, where the Additional Interest Rate is </span><span style="font-family:inherit;font-size:10pt;"><span>8.0%</span></span><span style="font-family:inherit;font-size:10pt;">. Peak Resorts does not have the right to prepay the EPR Secured Notes. The EPR Secured Notes were recorded at their estimated fair value in conjunction with the acquisition of Peak Resorts on September 24, 2019. The EPR Agreements grant EPR certain other rights including (i) the option to purchase the Boston Mills, Brandywine, Jack Frost, Big Boulder or Alpine Valley resorts, which is exercisable no sooner than two years and no later than one year prior to the maturity dates of the applicable EPR Secured Note for such properties, with any closings to be held on the applicable maturity dates; and, if EPR exercises the purchase option, EPR will enter into an agreement with the Company for the lease of each acquired property for an initial term of 20 years, plus options to extend the lease for two additional periods of ten years each; (ii) a right of first refusal through 2021, subject to certain conditions, to provide all or a portion of the financing associated with any purchase, ground lease, sale/leaseback, management or financing transaction contemplated by Peak Resorts with respect to any new or existing ski resort properties; and (iii) a right of first refusal through 2021 to purchase the Company&#8217;s Attitash ski resort in the event the Company were to desire to sell the Attitash ski resort. To date, EPR has not exercised any such purchase options. </span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In addition, Peak Resorts is required to maintain a debt service reserve account which amounts are applied to fund interest payments and other amounts due and payable to EPR. As of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> the Company had funded the EPR debt service reserve account in an amount equal to approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$5.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was included in other current assets in the Company&#8217;s Consolidated Balance Sheet.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(e)</span><span style="font-family:inherit;font-size:10pt;">Peak Resorts serves as the general partner for two limited partnerships, Carinthia Group 1, LP and Carinthia Group 2, LP (together, the &#8220;Carinthia Partnerships&#8221;), which were formed to raise </span><span style="font-family:inherit;font-size:10pt;"><span>$52.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> through the Immigrant Investor Program administered by the U.S. Citizenship and Immigration Services (&#8220;USCIS&#8221;), pursuant to the Immigration and Nationality Act (the &#8220;EB-5 Program&#8221;). The EB-5 Program was created to stimulate the U.S. economy through the creation of jobs and capital investments in U.S. companies by foreign investors. The program allocates immigrant visas to qualified individuals (&#8220;EB-5 Investors&#8221;) seeking lawful permanent resident status based on their investment in a U.S commercial enterprise. On December 27, 2016, Peak Resorts borrowed </span><span style="font-family:inherit;font-size:10pt;"><span>$52.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> from the Carinthia Partnerships to fund two capital projects at Mount Snow. The amounts were borrowed through two loan agreements, which provided </span><span style="font-family:inherit;font-size:10pt;"><span>$30.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$22.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> (together, the &#8220;EB-5 Development Notes&#8221;). Amounts outstanding under the EB-5 Development Notes accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>1.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum until the maturity date, which is December 27, 2021, subject to an extension of up to two additional years at the option of the borrowers, with lender consent. If the maturity date is extended, amounts outstanding under the EB-5 Development Notes will accrue simple interest at a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>7.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the first year of extension and a fixed rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum during the second year of extension. Upon an event of default (as defined), amounts outstanding </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;"><span style="font-family:inherit;font-size:10pt;">under the EB-5 Development Notes shall bear interest at the rate of </span><span style="font-family:inherit;font-size:10pt;"><span>5.0%</span></span><span style="font-family:inherit;font-size:10pt;"> per annum, subject to the extension increases. While the EB-5 Development Notes are outstanding, Peak Resorts is restricted from taking certain actions without the consent of the lenders, including, but not limited to, transferring or disposing of the properties or assets financed with loan proceeds. In addition, Peak Resorts is prohibited from prepaying outstanding amounts owed if such prepayment would jeopardize any of the EB-5 Investors from being admitted to the U.S. via the EB-5 Program.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(f)</span><span style="font-family:inherit;font-size:10pt;">The Company has recorded the outstanding debt of four Employee Housing Entities (each an &#8220;Employee Housing Entity&#8221; and collectively the &#8220;Employee Housing Entities&#8221;): Breckenridge Terrace, Tarnes, BC Housing and Tenderfoot. The proceeds of the Employee Housing Bonds were used to develop apartment complexes designated primarily for use by the Company&#8217;s seasonal employees at its Colorado mountain resorts. The Employee Housing Bonds are variable rate, interest-only instruments with interest rates tied to </span><span style="font-family:inherit;font-size:10pt;"><span>LIBOR plus 0% to 0.1%</span></span><span style="font-family:inherit;font-size:10pt;"> (</span><span style="font-family:inherit;font-size:10pt;"><span>0.17%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span>0.27%</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">).</span></div><div style="line-height:120%;padding-left:4px;padding-top:8px;text-align:justify;padding-left:24px;text-indent:0px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest on the Employee Housing Bonds is paid monthly in arrears and the interest rate is adjusted weekly. No principal payments are due on the Employee Housing Bonds until maturity. Each Employee Housing Entity&#8217;s bonds were issued in two series. The bonds for each Employee Housing Entity are backed by letters of credit issued under the Vail Holdings Credit Agreement. The table below presents the principal amounts outstanding for the Employee Housing Bonds as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> (in thousands):&#160;&#160;&#160;&#160;</span><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:96.484375%;border-collapse:collapse;text-align:left;"><tr><td colspan="11"/></tr><tr><td style="width:36%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Maturity&#160;(a)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;A</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tranche&#160;B</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Breckenridge Terrace</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2039</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tarnes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2039</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,000</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,410</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,410</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">BC Housing</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2027</span></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,100</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,500</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,600</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Tenderfoot</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2035</span></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,700</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,885</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>11,585</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>37,780</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,795</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>52,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(g)</span><span style="font-family:inherit;font-size:10pt;">On </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">May 24, 2013</span></span></span><span style="font-family:inherit;font-size:10pt;">, VR CPC Holdings, Inc. (&#8220;VR CPC&#8221;), a wholly-owned subsidiary of the Company, entered into a transaction agreement with affiliate companies of Talisker Corporation (&#8220;Talisker&#8221;) pursuant to which the parties entered into a master lease agreement (the &#8220;Lease&#8221;) and certain ancillary transaction documents on May 29, 2013 related to the former stand-alone Canyons Resort (&#8220;Canyons&#8221;), pursuant to which the Company assumed the resort operations of the Canyons. The Lease between VR CPC and Talisker has an initial term of </span><span style="font-family:inherit;font-size:10pt;"><span>50 years</span></span><span style="font-family:inherit;font-size:10pt;"> with </span><span style="font-family:inherit;font-size:10pt;"><span>six 50-year renewal options</span></span><span style="font-family:inherit;font-size:10pt;">. The Lease provides for </span><span style="font-family:inherit;font-size:10pt;"><span>$25 million</span></span><span style="font-family:inherit;font-size:10pt;"> in annual payments, which increase each year by an </span><span style="font-family:inherit;font-size:10pt;"><span>inflation-linked index of CPI less 1% per annum, with a floor of 2%</span></span><span style="font-family:inherit;font-size:10pt;">. Vail Resorts has guaranteed the payments under the Lease. The obligation at </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> represents future lease payments for the remaining initial lease term of </span><span style="font-family:inherit;font-size:10pt;"><span>50 years</span></span><span style="font-family:inherit;font-size:10pt;"> (including annual increases at the floor of 2%) discounted using an interest rate of </span><span style="font-family:inherit;font-size:10pt;"><span>10%</span></span><span style="font-family:inherit;font-size:10pt;">, and includes accumulated accreted interest expense of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$40.7 million</span></span><span style="font-family:inherit;font-size:10pt;">.</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(h)</span><span style="font-family:inherit;font-size:10pt;">During the year ended July 31, 2019, the Company completed two real estate sales transactions that were accounted for as financing arrangements as a result of the Company&#8217;s continuing involvement with the underlying assets that were sold, including but not limited to, the obligation to repurchase finished commercial space from the development projects upon completion. The Company received approximately&#160;</span><span style="font-family:inherit;font-size:10pt;"><span>$11.2 million</span></span><span style="font-family:inherit;font-size:10pt;">&#160;of proceeds for these sales transactions during the year ended July 31, 2019, which are reflected within long-term debt, net. Other obligations also consist of a </span><span style="font-family:inherit;font-size:10pt;"><span>$3.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> note outstanding to the Colorado Water Conservation Board, which matures on </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">September 16, 2028</span></span></span><span style="font-family:inherit;font-size:10pt;">, and other financing arrangements. Other obligations, including the Colorado Water Conservation Board note, bear interest at rates ranging from </span><span style="font-family:inherit;font-size:10pt;"><span>5.1%</span></span><span style="font-family:inherit;font-size:10pt;"> to </span><span style="font-family:inherit;font-size:10pt;"><span>5.5%</span></span><span style="font-family:inherit;font-size:10pt;">. </span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(i)</span><span style="font-family:inherit;font-size:10pt;">In connection with the acquisition of Peak Resorts, the Company estimated the acquisition date fair values of the debt instruments assumed, including the EPR Secured Notes and the EB-5 Development Notes, and recorded any difference between such estimated fair values and the par value of debt instruments as unamortized premiums and discounts, which is amortized and recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments. Additionally, certain costs incurred with regard to the issuance of debt instruments are capitalized and included as a reduction in the net carrying value of long-term debt, net of accumulated amortization, with the exception of costs incurred related to line-of-credit arrangements, which are included in deferred charges and other assets, net of accumulated amortization. Amortization of such deferred financing costs are recorded to interest expense, net on the Company&#8217;s Consolidated Statements of Operations over the respective term of the applicable debt instruments</span></div><div style="line-height:120%;padding-left:24px;padding-top:16px;text-align:justify;text-indent:0px;"><span style="padding-top:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:24px;">(j)</span><span style="font-family:inherit;font-size:10pt;">Current maturities represent principal payments due in the next </span><span style="font-family:inherit;font-size:10pt;">12 months</span><span style="font-family:inherit;font-size:10pt;">, and exclude approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule Of Aggregate Maturities For Debt Outstanding</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Aggregate maturities for debt outstanding, including capital lease obligations, as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> reflected by fiscal year are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:84%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2021 </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>69,827</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2022</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>115,195</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2023</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,740</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2024</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,796</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2025</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,612,120</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Thereafter</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>519,570</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total debt</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,444,248</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> (1) Includes approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$6.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> of proceeds resulting from a real estate transaction accounted for as a financing arrangement, as discussed above, which are expected to be recognized on the Company&#8217;s Statement of Operations during the year ending July 31, 2021 as a result of the anticipated resolution of continuing involvement, with no associated cash outflow.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28541-108399<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21506-112644<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e),(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21521-112644<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21538-112644<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfDebtInstrumentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of maturity and sinking fund requirement for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776916984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock', window );">Business Acquisition, Pro Forma Information [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Pro Forma Financial Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisitions of Peak Resorts, Falls Creek and Hotham, Stevens Pass and Triple Peaks were completed at the beginning of the fiscal year preceding the respective fiscal year in which each acquisition occurred. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transactions; (iii) lease expenses incurred by the prior owners which the Company will not be subject to; (iv) transaction and business integration related costs; and (v) interest expense associated with financing the transactions. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the transaction taken place at the beginning of the fiscal year preceding the fiscal year in which each acquisition occurred (in thousands, except per share amounts).</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,970,363</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,490,809</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>100,205</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma basic net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.49</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.47</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock', window );">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the preliminary purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,578</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>427,793</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,879</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,221</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,203</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assumed long-term debt</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(184,668</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(99,275</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>334,731</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">During the three months ended July 31, 2020, the Company recorded measurement period adjustments of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$8.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> primarily related to the finalization of pre-acquisition period tax returns for Peak Resorts, which decreased deferred income taxes, net (included in other liabilities in the table above) with a corresponding decrease to goodwill, net.</span></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember', window );">Falls Creek and Hotham [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock', window );">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,986</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>54,889</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71,538</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets and other assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(11,894</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>127,352</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember', window );">Stevens Pass [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock', window );">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>752</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>34,865</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,878</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,680</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>886</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,029</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>64,032</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember', window );">Triple Peaks, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock', window );">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The following summarizes the purchase consideration and the purchase price allocation to estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:85%;"/><td style="width:1%;"/><td style="width:13%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Date Estimated Fair Value</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,197</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>159,799</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>51,742</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Identifiable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,360</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income taxes, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,093</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18,098</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets acquired</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229,093</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionProFormaInformationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777513464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet Related Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Composition Of Property, Plant And Equipment</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of property, plant and equipment, including capital lease assets, follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Land and land improvements</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>750,714</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>619,561</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Buildings and building improvements</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,475,661</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,284,438</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Machinery and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,361,178</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,160,817</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Furniture and fixtures</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>308,267</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>309,271</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Software</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>104,223</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>118,815</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vehicles</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80,510</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>65,556</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Construction in progress</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>81,967</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79,282</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gross property, plant and equipment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,162,520</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,637,740</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated depreciation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,969,841</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,795,240</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property, plant and equipment, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,192,679</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,842,500</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock', window );">Composition Of Goodwill And Intangible Assets</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of goodwill and intangible assets follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Goodwill</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,752,062</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,625,560</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated impairments</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,354</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,354</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,709,020</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,608,206</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Indefinite-lived intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>230,000</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,905</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>41,667</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,166</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross indefinite-lived intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>271,667</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>258,071</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24,713</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24,713</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Indefinite-lived intangible assets, net</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>246,954</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>233,358</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Amortizable intangible assets</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trademarks</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38,208</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,772</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,538</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross amortizable intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>108,980</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,646</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(41,158</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(36,831</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Amortizable intangible assets, net</span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,822</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,815</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total gross intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>380,647</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>367,717</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accumulated amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(65,871</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,544</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total intangible assets, net</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,776</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>306,173</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfGoodwillTextBlock', window );">Changes In Goodwill Amount</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in the net carrying amount of goodwill allocated between the Company&#8217;s segments for the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> are as follows (in thousands): </span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Mountain </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Lodging </span></div></td><td colspan="3" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Goodwill,&#160;net </span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,407,787</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,899</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,475,686</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,049</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,049</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(19,529</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(19,529</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,540,307</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67,899</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,608,206</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Acquisitions (including measurement period adjustments)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>135,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(25,688</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effects of changes in foreign currency exchange rates</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9,485</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9,485</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,666,809</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>42,211</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,709,020</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Components Of Accounts Payable And Accrued Liabilities</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of accounts payable and accrued liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Trade payables</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>59,692</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>96,377</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred revenue</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>256,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>335,669</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued salaries, wages and deferred compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25,588</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50,318</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43,704</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>37,797</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deposits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>20,070</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>32,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>36,604</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other accruals</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>57,048</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>55,588</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total accounts payable and accrued liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,108</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>607,857</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock', window );">Components Of Other Long-Term Liabilities</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The composition of other long-term liabilities follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Private club deferred initiation fee revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>105,108</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,749</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,651</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>19,017</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other long-term liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>163,486</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>154,835</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total other long-term liabilities</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,245</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>283,601</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule of Other Long-term Liabilities [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfGoodwillTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13854-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfGoodwillTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777795224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Affiliates (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermInvestmentsAbstract', window );"><strong>Long-term Investments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsTextBlock', window );">Disclosure Of Equity Method Investments In Affiliates</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company held the following investments in equity method affiliates as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;">:</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"/></tr><tr><td style="width:84%;"/><td style="width:16%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Equity Method Affiliates</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Ownership</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Interest</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (&#8220;SSF/VARE&#8221;)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">KRED</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>50%</span></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Clinton Ditch and Reservoir Company</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>43%</span></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermInvestmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermInvestmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772323944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurements (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock', window );">Summary Of Cash Equivalents Measured At Fair Value</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The table below summarizes the Company&#8217;s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at their estimated fair values (all other assets and liabilities measured at fair value are immaterial) (in thousands):</span></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13"/></tr><tr><td style="width:36%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level&#160;3</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>203,158</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>203,158</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,208</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,208</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest Rate Swaps</span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,510</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,510</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="12" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Estimated Fair Value Measurement as of July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Description</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Total</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 1</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 2</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Level 3</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Assets:</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Money Market</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,043</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,043</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Commercial Paper</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,401</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certificates of Deposit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,871</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,871</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#8212;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The changes in Contingent Consideration during the years ended </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> were as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:84%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingent Consideration</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2018</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,900</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(67</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,367</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2019</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>27,200</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Payment</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(6,436</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in estimated fair value</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,964</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,800</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19279-110258<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778136648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Components Of Deferred Tax Liabilities And Assets</a></td>
<td class="text">Significant components of the Company&#8217;s deferred tax liabilities and assets are as follows (in thousands):<div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:68%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liabilities:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Fixed assets</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>216,016</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>153,182</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86,509</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>73,146</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease right of use assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,727</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,709</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,425</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>369,961</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>239,753</span></span></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Canyons obligation</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>14,997</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,922</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Stock-based compensation</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,313</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,620</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment in Partnerships</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,400</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,281</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred compensation and other accrued benefits</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,918</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,674</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Contingent Consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,468</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,771</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Unfavorable lease obligation, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>285</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,896</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net operating loss carryforwards and other tax credits</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>13,205</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,631</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Operating lease liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>60,838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other, net</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,427</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,850</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>147,851</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>83,645</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Valuation allowance for deferred income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(5,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(5,365</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax assets, net of valuation allowance</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>142,521</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,280</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>227,440</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock', window );">Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:60%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:18%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax asset</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6,751</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,286</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred income tax liability</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>234,191</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>168,759</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net deferred income tax liability</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>227,440</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,473</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Components Of Provision (Benefit) For Income Taxes</a></td>
<td class="text"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Significant components of the provision (benefit) from income taxes are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Current:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(13,467</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>24,309</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(43,366</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(731</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,539</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,562</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,141</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>20,205</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18,436</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total current</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(10,057</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>53,053</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(15,368</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,597</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,983</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(45,922</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,266</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,282</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,941</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>572</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>154</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,789</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total deferred</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>17,435</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,419</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(45,770</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:52px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,378</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,472</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock', window );">Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S. and foreign components of income before (provision) benefit from income taxes is as follows (in thousands):</span></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>89,838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>306,323</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>264,379</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26,595</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>92,642</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,713</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before income taxes</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>116,433</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>398,965</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,092</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation</a></td>
<td class="text"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the income tax provision (benefit) from continuing operations and the amount computed by applying the United States federal statutory income tax rate to income before income taxes is as follows:</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"/></tr><tr><td style="width:52%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:15%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">At U.S. federal income tax rate</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>26.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">State income tax, net of federal benefit</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.5</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.8</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.0</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in uncertain tax positions</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.6</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in valuation allowance</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.3</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Excess tax benefits related to stock-based compensation</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(7.1</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.0</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(20.9</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Impacts of the Tax Act and other legislative changes</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.2</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(24.7</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Noncontrolling interests</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.4</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.5</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign rate differential</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.4</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.4</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1.5</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.8</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>0.7</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Effective tax rate</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>6.3</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18.9</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;%</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18.0</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock', window );">Reconciliation Of Unrecognized Tax Benefits</a></td>
<td class="text"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, beginning of year</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,222</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,242</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>76,111</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additions for tax positions of prior years</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>16,654</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>11,520</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>12,394</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lapse of statute of limitations</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(18,577</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(17,540</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(10,263</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Balance, end of year</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>70,299</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>72,222</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>78,242</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of income before income tax between domestic and foreign jurisdictions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SummaryOfIncomeTaxContingenciesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SummaryOfIncomeTaxContingenciesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777813672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock', window );">Summary Of Financial Information By Reportable Segment</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):</span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lift</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>913,091</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,033,234</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>880,293</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Ski school</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,131</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215,060</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>189,910</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Dining</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>160,763</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>181,837</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>161,402</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Retail/rental</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>270,299</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>320,267</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>296,466</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>177,159</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>205,803</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>194,851</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Mountain net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,710,443</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,956,201</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,722,922</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>248,414</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>314,662</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>284,643</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort net revenue</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,958,857</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,270,863</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,007,565</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,847</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>712</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,988</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Segment operating expense:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,212,053</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,279,567</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,132,840</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245,145</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>286,562</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>259,637</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Resort operating expense</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,457,198</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,566,129</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,392,477</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>9,182</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,609</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,546</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total segment operating expense</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,466,380</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,571,738</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,396,023</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of real property</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>207</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>580</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>515</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain equity investment income, net</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,690</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,960</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,523</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mountain</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>500,080</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>678,594</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>591,605</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Lodging</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,269</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,100</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>25,006</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Resort</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>503,349</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>706,694</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>616,611</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real Estate</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,128</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(4,317</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>957</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>702,377</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>617,568</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Real estate held for sale and investment</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>96,844</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>101,021</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>99,385</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>379,898</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,222</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>22,330</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>21,332</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,055</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>323,493</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>401,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,378</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,472</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(61,138</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income before provision (benefit) from income taxes</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>116,433</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>398,965</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>340,092</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Depreciation and amortization</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>249,572</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>218,117</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>204,462</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Asset impairments</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>28,372</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>&#8212;</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(Gain) loss on disposal of fixed assets and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(838</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>664</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4,620</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Change in fair value of contingent consideration</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2,964</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5,367</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,854</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Investment income and other, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,305</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3,086</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,944</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Foreign currency loss on intercompany loans</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,854</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>8,966</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Interest expense, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>106,721</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79,496</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>63,226</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total Reported EBITDA</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>499,221</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>702,377</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>617,568</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock', window );">Revenue and Properties, Plant and Equipment from External Customers by Geographic Areas [Table Text Block]</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Geographic Information</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):</span></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.4140625%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:52%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="9" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Net revenue</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,655,961</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,865,062</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,610,323</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>307,743</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>406,513</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>401,230</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,011,553</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:21px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">July 31,</span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U.S.</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,759,692</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,381,378</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">International </span><span style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>432,987</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>461,122</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:middle;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total property, plant and equipment, net</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,192,679</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,842,500</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:justify;padding-left:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">(1) The only individual international country (i.e. except the U.S.) to account for more than 10% of the Company&#8217;s revenue and property plant and equipment, net was Canada. Canada accounted for </span><span style="font-family:inherit;font-size:10pt;"><span>$223.3 million</span></span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;"><span>$308.1 million</span></span><span style="font-family:inherit;font-size:10pt;">, and </span><span style="font-family:inherit;font-size:10pt;"><span>$321.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> of revenue for the years ended </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, and for </span><span style="font-family:inherit;font-size:10pt;"><span>$291.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$319.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> of property, plant and equipment, net as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph a<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8813-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773742104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Quarterly Financial Data (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract', window );"><strong>Quarterly Financial Information Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock', window );">Selected Quarterly Financial Data</a></td>
<td class="text"><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"/></tr><tr><td style="width:35%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2020</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First </span></div><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,963,704</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>77,209</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>694,087</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>924,638</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>267,770</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>223,389</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(170,046</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>218,232</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>310,733</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(135,530</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>109,055</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(157,965</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>159,831</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217,018</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(109,829</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>98,833</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(153,608</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>152,546</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>206,370</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(106,475</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.45</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.82</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.79</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.64</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.42</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3.82</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>3.74</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.04</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.64</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16"/></tr><tr><td style="width:35%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:11%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31, 2019</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;">(in thousands, except per share amounts)</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Full Year </span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Fourth <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Third <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">Second <br/>Quarter</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><span style="font-family:inherit;font-size:9pt;font-weight:bold;">First <br/>Quarter</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total net revenue</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,271,575</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>244,006</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>957,987</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>849,578</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>220,004</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Income (loss) from operations</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>476,269</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(120,582</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>422,598</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,848</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(127,595</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>323,493</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(92,301</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>308,530</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217,990</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(110,726</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net income (loss) attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>301,163</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(89,525</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>292,134</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>206,349</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(107,795</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Basic net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.46</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.22</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.26</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.66</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Diluted net income (loss) per share attributable to Vail Resorts, Inc.</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.32</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.22</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7.12</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.02</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(2.66</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_QuarterlyFinancialInformationDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_QuarterlyFinancialInformationDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121640914&amp;loc=d3e1280-108306<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555779640664">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parenthetical) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Statement of Financial Position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Trade receivables, allowances</a></td>
<td class="nump">$ 2,484<span></span>
</td>
<td class="nump">$ 724<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InventoryValuationReserves', window );">Inventories, reserves</a></td>
<td class="nump">$ 4,447<span></span>
</td>
<td class="nump">$ 2,031<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
<td class="nump">25,000,000<span></span>
</td>
<td class="nump">25,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">100,000,000<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">46,350,000<span></span>
</td>
<td class="nump">46,190,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ExchangeableSharesParValuePerShare', window );">Exchangeable Shares Par Value Per Share</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ExchangeableSharesSharesIssued', window );">Exchangeable Shares, Shares, Issued</a></td>
<td class="nump">36,000<span></span>
</td>
<td class="nump">56,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock, shares</a></td>
<td class="nump">6,161,141<span></span>
</td>
<td class="nump">5,905,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ExchangeableSharesParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exchangeable Shares Par Value Per Share</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ExchangeableSharesParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ExchangeableSharesSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exchangeable Shares, Shares, Issued</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ExchangeableSharesSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on accounts receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121611835&amp;loc=d3e5074-111524<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121599878&amp;loc=SL82895884-210446<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryValuationReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of valuation reserve for inventory.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.BB)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011343&amp;loc=d3e100047-122729<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-09)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24092-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryValuationReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773463560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Share-based Payment Arrangement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule Of Share Based Compensation Valuation Model</a></td>
<td class="text">The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.<div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:52%;"/><td style="width:16%;"/><td style="width:16%;"/><td style="width:16%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Year Ended July 31,</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">2018</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected volatility</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>29.7%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>38.6%</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>40.0%</span></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected dividends</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.8%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.1%</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2.0%</span></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Expected term (average in years)</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.5-7.1</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">6.0-6.6</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">5.8-6.4</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Risk-free rate</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.8-2.0%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">2.4-2.9%</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">1.2-2.3%</span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock', window );">Schedule Of Share Based Compensation Option And SARs Award Activity</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of aggregate SARs award activity under the Plan as of </span><span style="font-family:inherit;font-size:10pt;">July 31, 2020</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="10"/></tr><tr><td style="width:36%;"/><td style="width:15%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:14%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Exercise Price</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Remaining</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Contractual Term</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Aggregate</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Intrinsic</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at August 1, 2017</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,290</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>59.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>86</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>237.86</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(1,049</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>33.25</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(3</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>172.03</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2018</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,324</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>91.01</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>293.82</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(219</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>49.09</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(14</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217.58</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,171</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>111.12</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>146</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>245.26</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercised</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(247</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>67.19</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited or expired</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>252.75</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">&#160;</span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,061</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>138.59</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>5.0 years</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested and expected to vest at July 31, 2020</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>1,042</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>136.66</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.9 years</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Exercisable at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>846</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>108.73</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>4.1 years</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>75,736</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share Based Compensation SARs Activity</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested SARs as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:64%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Outstanding at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>168</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>80.75</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>146</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>58.25</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(91)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>71.57</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(8)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>79.23</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>215</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>69.45</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock', window );">Schedule Of Share Based Compensation Restricted Stock Units Activity</a></td>
<td class="text"><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A summary of the status of the Company&#8217;s nonvested restricted share units as of </span><span style="font-family:inherit;font-size:10pt;">July&#160;31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and changes during the year then ended is presented below (in thousands, except fair value amounts):</span></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"/></tr><tr><td style="width:64%;"/><td style="width:18%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">&#160;</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Awards</span></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Weighted-Average</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Grant-Date</span></div><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value</span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2019</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>126</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>230.10</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Granted</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>83</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>217.46</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vested</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(63)</span></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>216.07</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Forfeited</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(16)</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>229.97</span></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:top;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Nonvested at July 31, 2020</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>130</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>228.77</span></span></div></td><td style="vertical-align:bottom;border-bottom:2px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested restricted stock units.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776924184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
<th class="th"><div>Aug. 01, 2019</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_InterestRateSwapNotionalAmount', window );">Interest Rate Swap, Notional Amount</a></td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">28,372<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AccountsPayableAccruedLiabilities', window );">Accounts payable and accrued liabilities (Note 8)</a></td>
<td class="nump">499,108<span></span>
</td>
<td class="nump">607,857<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">645,902<span></span>
</td>
<td class="nump">759,801<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetImpairment', window );">Impairment to goodwill or intangible assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdvertisingExpense', window );">Advertising expense</a></td>
<td class="nump">41,600<span></span>
</td>
<td class="nump">44,600<span></span>
</td>
<td class="nump">$ 39,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">11,106<span></span>
</td>
<td class="nump">9,539<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Operating right-of-use assets (Note 4)</a></td>
<td class="nump">225,744<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 221,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1', window );">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</a></td>
<td class="nump">22,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue', window );">Interest Rate Cash Flow Hedge Liability at Fair Value</a></td>
<td class="nump">22,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Operating Lease, Liability</a></td>
<td class="nump">254,146<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">254,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Operating lease liabilities (Note 4)</a></td>
<td class="nump">217,542<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">219,300<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Operating Lease, Liability, Current</a></td>
<td class="nump">36,604<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_Rightofuseassetadjustments', window );">Right-of-use asset adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_A6.25NotesMember', window );">6.25% Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NotesAndLoansPayable', window );">Notes and Loans Payable</a></td>
<td class="nump">600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFairValue', window );">Debt Instrument, Fair Value Disclosure</a></td>
<td class="nump">643,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember', window );">EPR Secured Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NotesAndLoansPayable', window );">Notes and Loans Payable</a></td>
<td class="nump">137,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFairValue', window );">Debt Instrument, Fair Value Disclosure</a></td>
<td class="nump">150,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember', window );">EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NotesAndLoansPayable', window );">Notes and Loans Payable</a></td>
<td class="nump">47,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFairValue', window );">Debt Instrument, Fair Value Disclosure</a></td>
<td class="nump">47,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember', window );">Goodwill [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">25,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember', window );">Finite-Lived Intangible Assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">$ 2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AccountsPayableAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AccountsPayableAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_InterestRateSwapNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest Rate Swap, Notional Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_InterestRateSwapNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_Rightofuseassetadjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Favorable and unfavorable lease balances, deferred rent credits and other amounts that will adjust the right-of-use asset upon adoption of ASC 842.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_Rightofuseassetadjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdvertisingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 35<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6420018&amp;loc=d3e36677-107848<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvertisingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 25<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121577467&amp;loc=d3e76258-113986<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121572278&amp;loc=d3e13433-108611<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of all interest rate derivative liabilities designated as cash flow hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121590274&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesAndLoansPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesAndLoansPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_A6.25NotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_A6.25NotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555780480328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareAndSoftwareDevelopmentCostsMember', window );">Software and Software Development Costs [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Land Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Buildings and Building Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">7 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Machinery and Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">2 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Furniture and Fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Land Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">35 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Buildings and Building Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">30 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Machinery and Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">30 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Furniture and Fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated life in years</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareAndSoftwareDevelopmentCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareAndSoftwareDevelopmentCostsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LandImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555870572568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Pre-tax stock-based compensation expense</a></td>
<td class="nump">$ 21,021<span></span>
</td>
<td class="nump">$ 19,856<span></span>
</td>
<td class="nump">$ 19,040<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense', window );">Less: benefit for income taxes</a></td>
<td class="nump">5,027<span></span>
</td>
<td class="nump">4,589<span></span>
</td>
<td class="nump">5,406<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax', window );">Net stock-based compensation expense</a></td>
<td class="nump">15,994<span></span>
</td>
<td class="nump">15,267<span></span>
</td>
<td class="nump">13,634<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=mtn_MountainOperatingExpenseMember', window );">Mountain Operating Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Pre-tax stock-based compensation expense</a></td>
<td class="nump">17,410<span></span>
</td>
<td class="nump">16,474<span></span>
</td>
<td class="nump">15,716<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=mtn_LodgingOperatingExpenseMember', window );">Lodging Operating Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Pre-tax stock-based compensation expense</a></td>
<td class="nump">3,399<span></span>
</td>
<td class="nump">3,219<span></span>
</td>
<td class="nump">3,215<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=mtn_RealEstateOperatingExpenseMember', window );">Real Estate Operating Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Pre-tax stock-based compensation expense</a></td>
<td class="nump">$ 212<span></span>
</td>
<td class="nump">$ 163<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for award under share-based payment arrangement. Excludes amount capitalized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5047-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=115993241&amp;loc=d3e301413-122809<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of expense for award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tax benefit for recognition of expense of award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=mtn_MountainOperatingExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=mtn_MountainOperatingExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=mtn_LodgingOperatingExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=mtn_LodgingOperatingExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=mtn_RealEstateOperatingExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=mtn_RealEstateOperatingExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555775200120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenues (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_SeasonPassCreditDeferralRevenue', window );">Season Pass Credit Deferral Revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 120,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts Receivable, after Allowance for Credit Loss, Current</a></td>
<td class="nump">$ 106,664<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 270,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">106,664<span></span>
</td>
<td class="nump">$ 270,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,710,443<span></span>
</td>
<td class="nump">1,956,201<span></span>
</td>
<td class="nump">$ 1,722,922<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">248,414<span></span>
</td>
<td class="nump">314,662<span></span>
</td>
<td class="nump">284,643<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ResortRevenueNet', window );">Resort net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,958,857<span></span>
</td>
<td class="nump">2,270,863<span></span>
</td>
<td class="nump">2,007,565<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateRevenue', window );">Real Estate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,847<span></span>
</td>
<td class="nump">712<span></span>
</td>
<td class="nump">3,988<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 77,209<span></span>
</td>
<td class="nump">$ 694,087<span></span>
</td>
<td class="nump">$ 924,638<span></span>
</td>
<td class="nump">$ 267,770<span></span>
</td>
<td class="nump">$ 244,006<span></span>
</td>
<td class="nump">$ 957,987<span></span>
</td>
<td class="nump">$ 849,578<span></span>
</td>
<td class="nump">$ 220,004<span></span>
</td>
<td class="nump">1,963,704<span></span>
</td>
<td class="nump">2,271,575<span></span>
</td>
<td class="nump">2,011,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_SeasonPassCreditDeferralCosts', window );">Season Pass Credit Deferral Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_DiningMember', window );">Dining</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,252<span></span>
</td>
<td class="nump">53,730<span></span>
</td>
<td class="nump">48,554<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_OwnedHotelRevenueMember', window );">Owned hotel rooms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,992<span></span>
</td>
<td class="nump">64,826<span></span>
</td>
<td class="nump">65,252<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_ManagedcondominiumroomsMember', window );">Managed condominium rooms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76,480<span></span>
</td>
<td class="nump">86,236<span></span>
</td>
<td class="nump">70,198<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_TransportationMember', window );">Transportation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,796<span></span>
</td>
<td class="nump">21,275<span></span>
</td>
<td class="nump">21,111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_GolfMember', window );">Golf</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,412<span></span>
</td>
<td class="nump">19,648<span></span>
</td>
<td class="nump">18,110<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_OtherLodgingRevenueMember', window );">Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,933<span></span>
</td>
<td class="nump">54,617<span></span>
</td>
<td class="nump">47,577<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember', window );">Lodging revenue (excluding payroll cost reimbursements) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">237,865<span></span>
</td>
<td class="nump">300,332<span></span>
</td>
<td class="nump">270,802<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ProductOrServiceAxis=mtn_PayrollcostreimbursementsMember', window );">Payroll cost reimbursements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,549<span></span>
</td>
<td class="nump">14,330<span></span>
</td>
<td class="nump">13,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_OtherMountainRevenueMember', window );">Other | Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">177,159<span></span>
</td>
<td class="nump">205,803<span></span>
</td>
<td class="nump">194,851<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_RetailRentalMember', window );">Retail/Rental | Retail/Rental</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">270,299<span></span>
</td>
<td class="nump">320,267<span></span>
</td>
<td class="nump">296,466<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_DiningMember', window );">Dining | Dining</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">160,763<span></span>
</td>
<td class="nump">181,837<span></span>
</td>
<td class="nump">161,402<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_SkiSchoolMember', window );">Ski School | Ski School</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">189,131<span></span>
</td>
<td class="nump">215,060<span></span>
</td>
<td class="nump">189,910<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LiftTicketsMember', window );">Lift | Lift</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisaggregationOfRevenueLineItems', window );"><strong>Disaggregation of Revenue [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain Revenue Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 913,091<span></span>
</td>
<td class="nump">$ 1,033,234<span></span>
</td>
<td class="nump">$ 880,293<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LodgingRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LodgingRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ResortRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of mountain and lodging segment revenue.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ResortRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_SeasonPassCreditDeferralCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Season Pass Credit Deferral Costs</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_SeasonPassCreditDeferralCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_SeasonPassCreditDeferralRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Season Pass Credit Deferral Revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_SeasonPassCreditDeferralRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4428-111522<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4531-111522<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisaggregationOfRevenueLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisaggregationOfRevenueLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_DiningMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_DiningMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_OwnedHotelRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_OwnedHotelRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_ManagedcondominiumroomsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_ManagedcondominiumroomsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_TransportationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_TransportationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_GolfMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_GolfMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_OtherLodgingRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_OtherLodgingRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_PayrollcostreimbursementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_PayrollcostreimbursementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_OtherMountainRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_OtherMountainRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_OtherMountainRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_OtherMountainRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_RetailRentalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_RetailRentalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_RetailRentalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_RetailRentalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_DiningMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_DiningMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_SkiSchoolMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_SkiSchoolMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_SkiSchoolMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_SkiSchoolMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LiftTicketsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_LiftTicketsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=mtn_LiftTicketsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=mtn_LiftTicketsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555780343272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenues Contract Balances (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ContractBalancesAbstract', window );"><strong>Contract Balances [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred Revenue, Current</a></td>
<td class="nump">$ 256,402<span></span>
</td>
<td class="nump">$ 335,669<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">Contract with Customer, Liability</a></td>
<td class="nump">121,900<span></span>
</td>
<td class="nump">124,300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Recognition of Deferred Revenue</a></td>
<td class="nump">$ 266,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod', window );">Private Club Recognized Initiation Fees Average Remaining Period</a></td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net of allowances of $2,484 and $724, respectively</a></td>
<td class="nump">$ 106,664<span></span>
</td>
<td class="nump">$ 270,896<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ContractBalancesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contract Balances [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ContractBalancesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Recognized private club initiation fees, average remaining period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:positiveIntegerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4428-111522<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121593590&amp;loc=d3e4531-111522<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130531-203044<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121556615&amp;loc=SL49130532-203044<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121604090&amp;loc=SL49130549-203045<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555772072920">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenues Costs to Obtain Contracts with Customers (Details) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CoststoObtainContractswithCustomersAbstract', window );"><strong>Costs to Obtain Contracts with Customers [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalizedContractCostNet', window );">Capitalized Contract Cost, Net</a></td>
<td class="nump">$ 3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalizedContractCostAmortization', window );">Capitalized Contract Cost, Amortization</a></td>
<td class="nump">$ 11.0<span></span>
</td>
<td class="nump">$ 10.6<span></span>
</td>
<td class="nump">$ 8.3<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CoststoObtainContractswithCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs to Obtain Contracts with Customers [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CoststoObtainContractswithCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalizedContractCostAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 40<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=68051541&amp;loc=SL49131252-203054<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalizedContractCostAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalizedContractCostNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization and accumulated impairment loss, of asset recognized from cost incurred to obtain or fulfill contract with customer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 40<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=68051541&amp;loc=SL49131252-203054<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalizedContractCostNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555774325528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Leases (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Aug. 01, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Operating Lease, Liability, Current</a></td>
<td class="nump">$ 36,604<span></span>
</td>
<td class="nump">$ 34,900<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">Operating Leases, Future Minimum Payments Due, Next Twelve Months</a></td>
<td class="nump">47,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,984<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent', window );">Capital Leases, Future Minimum Payments Due, Next Twelve Months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,253<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths', window );">Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months</a></td>
<td class="nump">$ 28,818<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1', window );">Operating Lease, Weighted Average Remaining Lease Term</a></td>
<td class="text">10 years 7 months 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasePayments', window );">Operating Lease, Payments</a></td>
<td class="nump">$ 55,344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseRightOfUseAssetAmortization', window );">Finance Lease, Right-of-Use Asset, Amortization</a></td>
<td class="nump">9,753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseInterestExpense', window );">Finance Lease, Interest Expense</a></td>
<td class="nump">34,035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseExpense', window );">Operating Lease, Expense</a></td>
<td class="nump">43,303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShortTermLeaseCost', window );">Short-term Lease, Cost</a></td>
<td class="nump">13,943<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableLeaseCost', window );">Variable Lease, Cost</a></td>
<td class="nump">1,583<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OperatingCashOutflowsforFinanceLeases', window );">Operating Cash Outflows for Finance Leases</a></td>
<td class="nump">29,311<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_FinancingCashOutflowsforFinanceLeases', window );">Financing Cash Outflows for Finance Leases</a></td>
<td class="nump">$ 5,387<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1', window );">Finance Lease, Weighted Average Remaining Lease Term</a></td>
<td class="text">42 years 10 months 24 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent', window );">Operating Lease, Weighted Average Discount Rate, Percent</a></td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent', window );">Finance Lease, Weighted Average Discount Rate, Percent</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">Operating Leases, Future Minimum Payments, Due in Two Years</a></td>
<td class="nump">$ 43,699<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42,512<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears', window );">Capital Leases, Future Minimum Payments Due in Two Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,818<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo', window );">Finance Lease, Liability, to be Paid, Year Two</a></td>
<td class="nump">29,394<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">Operating Leases, Future Minimum Payments, Due in Three Years</a></td>
<td class="nump">38,353<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,440<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears', window );">Capital Leases, Future Minimum Payments Due in Three Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,394<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree', window );">Finance Lease, Liability, to be Paid, Year Three</a></td>
<td class="nump">29,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">Operating Leases, Future Minimum Payments, Due in Four Years</a></td>
<td class="nump">34,431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,840<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears', window );">Capital Leases, Future Minimum Payments Due in Four Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,982<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour', window );">Finance Lease, Liability, to be Paid, Year Four</a></td>
<td class="nump">30,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">Operating Leases, Future Minimum Payments, Due in Five Years</a></td>
<td class="nump">32,405<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,836<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears', window );">Capital Leases, Future Minimum Payments Due in Five Years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,582<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive', window );">Finance Lease, Liability, to be Paid, Year Five</a></td>
<td class="nump">31,193<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive', window );">Lessee, Operating Lease, Liability, to be Paid, after Year Five</a></td>
<td class="nump">137,501<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive', window );">Finance Lease, Liability, to be Paid, after Year Five</a></td>
<td class="nump">1,773,855<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue', window );">Lessee, Operating Lease, Liability, to be Paid</a></td>
<td class="nump">333,402<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityPaymentsDue', window );">Finance Lease, Liability, Payment, Due</a></td>
<td class="nump">1,923,824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount', window );">Lessee, Operating Lease, Liability, Undiscounted Excess Amount</a></td>
<td class="num">(79,256)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount', window );">Finance Lease, Liability, Undiscounted Excess Amount</a></td>
<td class="num">(1,577,790)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Operating Lease, Liability</a></td>
<td class="nump">254,146<span></span>
</td>
<td class="nump">$ 254,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseLiability', window );">Finance Lease, Liability</a></td>
<td class="nump">346,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">Operating Leases, Future Minimum Payments, Due Thereafter</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">142,526<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter', window );">Capital Leases, Future Minimum Payments Due Thereafter</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,805,048<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Operating Leases, Future Minimum Payments Due</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">335,138<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue', window );">Capital Leases, Future Minimum Payments Due</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,952,077<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments', window );">Capital Leases, Future Minimum Payments, Interest Included in Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,611,816)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments', window );">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">340,261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="nump">2,444,248<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,580,130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseRightOfUseAsset', window );">Operating Lease, Right-of-Use Asset</a></td>
<td class="nump">117,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization', window );">Finance Lease, Right-of-Use Asset, Accumulated Amortization</a></td>
<td class="nump">65,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability', window );">Right-of-Use Asset Obtained in Exchange for Operating Lease Liability</a></td>
<td class="nump">$ 18,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList', window );">Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]</a></td>
<td class="text">mtn:AccountsPayableAccruedLiabilities<span></span>
</td>
<td class="text">mtn:AccountsPayableAccruedLiabilities<span></span>
</td>
<td class="text">mtn:AccountsPayableAccruedLiabilities<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LesseeOperatingAndFinanceLeaseTerm', window );">Lessee Operating And Finance Lease Term</a></td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LesseeOperatingAndFinanceLeaseTerm', window );">Lessee Operating And Finance Lease Term</a></td>
<td class="text">60 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember', window );">Canyons Obligation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="nump">$ 346,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 340,261<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_FinancingCashOutflowsforFinanceLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Cash Outflows for Finance Leases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_FinancingCashOutflowsforFinanceLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LesseeOperatingAndFinanceLeaseTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lessee Operating And Finance Lease Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LesseeOperatingAndFinanceLeaseTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OperatingCashOutflowsforFinanceLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating Cash Outflows for Finance Leases</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OperatingCashOutflowsforFinanceLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount necessary to reduce net minimum lease payments to present value for capital leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121616839&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense on finance lease liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918638-209977<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payments for finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payments for finance lease, due after fifth fiscal year following latest statement of financial position date. For interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of right-of-use asset from finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated amortization of right-of-use asset from finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918638-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseRightOfUseAssetAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to right-of-use asset from finance lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918638-209977<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseRightOfUseAssetAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average discount rate for finance lease calculated at point in time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining lease term for finance lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payment for operating lease due after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918701-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of operating lease expense. Excludes sublease income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918638-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates line item in statement of financial position that includes current operating lease liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918631-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>srt-types:extensibleListItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 5<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918643-209977<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average discount rate for operating lease calculated at point in time.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=121580752&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121573735&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in right-of-use asset obtained in exchange for operating lease liability.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermLeaseCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of short-term lease cost, excluding expense for lease with term of one month or less.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermLeaseCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableLeaseCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of variable lease cost, excluded from lease liability, recognized when obligation for payment is incurred for finance and operating leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121609121&amp;loc=SL77918686-209980<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 55<br> -Paragraph 53<br> -URI http://asc.fasb.org/extlink&amp;oid=121568110&amp;loc=SL77918982-209971<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableLeaseCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555859381256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net Income Per Common Share (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="num">$ (153,608)<span></span>
</td>
<td class="nump">$ 152,546<span></span>
</td>
<td class="nump">$ 206,370<span></span>
</td>
<td class="num">$ (106,475)<span></span>
</td>
<td class="num">$ (89,525)<span></span>
</td>
<td class="nump">$ 292,134<span></span>
</td>
<td class="nump">$ 206,349<span></span>
</td>
<td class="num">$ (107,795)<span></span>
</td>
<td class="nump">$ 98,833<span></span>
</td>
<td class="nump">$ 301,163<span></span>
</td>
<td class="nump">$ 379,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_WeightedAverageNumberofSharesOutstandingCommon', window );">Weighted Average Number of Shares Outstanding, Common</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,227,000<span></span>
</td>
<td class="nump">40,292,000<span></span>
</td>
<td class="nump">40,337,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_WeightedAverageNumberofSharesOutstandingExchangeable', window );">Weighted Average Number of Shares Outstanding, Exchangeable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,000<span></span>
</td>
<td class="nump">57,000<span></span>
</td>
<td class="nump">60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted-average shares outstanding, basic (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,273,000<span></span>
</td>
<td class="nump">40,349,000<span></span>
</td>
<td class="nump">40,397,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Effect of dilutive securities, diluted (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">565,000<span></span>
</td>
<td class="nump">809,000<span></span>
</td>
<td class="nump">1,221,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted-average shares outstanding, diluted (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,838,000<span></span>
</td>
<td class="nump">41,158,000<span></span>
</td>
<td class="nump">41,618,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="num">$ (3.82)<span></span>
</td>
<td class="nump">$ 3.79<span></span>
</td>
<td class="nump">$ 5.12<span></span>
</td>
<td class="num">$ (2.64)<span></span>
</td>
<td class="num">$ (2.22)<span></span>
</td>
<td class="nump">$ 7.26<span></span>
</td>
<td class="nump">$ 5.12<span></span>
</td>
<td class="num">$ (2.66)<span></span>
</td>
<td class="nump">$ 2.45<span></span>
</td>
<td class="nump">$ 7.46<span></span>
</td>
<td class="nump">$ 9.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="num">(3.82)<span></span>
</td>
<td class="nump">$ 3.74<span></span>
</td>
<td class="nump">$ 5.04<span></span>
</td>
<td class="num">$ (2.64)<span></span>
</td>
<td class="num">(2.22)<span></span>
</td>
<td class="nump">$ 7.12<span></span>
</td>
<td class="nump">$ 5.02<span></span>
</td>
<td class="num">$ (2.66)<span></span>
</td>
<td class="nump">$ 2.42<span></span>
</td>
<td class="nump">$ 7.32<span></span>
</td>
<td class="nump">$ 9.13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Anti-dilutive securities (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareCashPaid', window );">Common Stock, Dividends, Per Share, Cash Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.28<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Cash dividends declared per share (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.28<span></span>
</td>
<td class="nump">$ 6.46<span></span>
</td>
<td class="nump">$ 5.046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Dividends (Note 3)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 212,732<span></span>
</td>
<td class="nump">$ 260,567<span></span>
</td>
<td class="nump">$ 204,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ExchangeableSharesParValuePerShare', window );">Exchangeable Shares Par Value Per Share</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,327,719<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=mtn_ExchangeableSharesMember', window );">Exchangeable Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">418,095<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets</a></td>
<td class="nump">$ 16,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt</a></td>
<td class="nump">184,668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">184,668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="nump">99,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</a></td>
<td class="nump">$ 334,731<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 334,731<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ExchangeableSharesParValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exchangeable Shares Par Value Per Share</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ExchangeableSharesParValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_WeightedAverageNumberofSharesOutstandingCommon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Number of Shares Outstanding, Common</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_WeightedAverageNumberofSharesOutstandingCommon</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_WeightedAverageNumberofSharesOutstandingExchangeable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted Average Number of Shares Outstanding, Exchangeable</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_WeightedAverageNumberofSharesOutstandingExchangeable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=121600890&amp;loc=d3e2207-128464<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt due after one year or the normal operating cycle, if longer, assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareCashPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends paid during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareCashPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=mtn_ExchangeableSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=mtn_ExchangeableSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555763971800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt (Schedule Of Debt Instruments) (Details)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 24, 2019 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>May 29, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>CAD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">Long-Term Debt, Maturity, Year One</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 69,827,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity', window );">VHI Credit Agreement Waiver Period Minimum Liquidity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution', window );">VHI Credit Agreement Waiver Period Required Liquidity for Distribution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit', window );">VHI Credit Agreement Waiver Period Quarterly Distribution Limit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit', window );">VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries', window );">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries', window );">VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee', window );">Debt Instrument, Unused Borrowing Capacity, Fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_InterestRateSwapNotionalAmount', window );">Interest Rate Swap, Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Derivative, Fixed Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.46%<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,444,248,000<span></span>
</td>
<td class="nump">$ 1,580,130,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(6,551,000)<span></span>
</td>
<td class="nump">3,870,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Less: Current maturities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,677,000<span></span>
</td>
<td class="nump">48,516,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,387,122,000<span></span>
</td>
<td class="nump">1,527,744,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Interest Expense, Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">106,700,000<span></span>
</td>
<td class="nump">79,500,000<span></span>
</td>
<td class="nump">$ 63,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccretionExpense', window );">Accretion Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,773,000<span></span>
</td>
<td class="nump">5,752,000<span></span>
</td>
<td class="nump">5,723,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of Financing Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,900,000<span></span>
</td>
<td class="nump">1,300,000<span></span>
</td>
<td class="nump">1,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IntercompanyForeignCurrencyBalanceAmount', window );">Intercompany Foreign Currency Balance, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">210,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency loss on intercompany loans (Note 6)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,230,000)<span></span>
</td>
<td class="num">(2,854,000)<span></span>
</td>
<td class="num">$ (8,966,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">Long-Term Debt, Maturity, Year Two</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,195,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">Long-Term Debt, Maturity, Year Three</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,740,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">Long-Term Debt, Maturity, Year Four</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,796,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">Long-Term Debt, Maturity, Year Five</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,612,120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Long-Term Debt, Maturity, after Year Five</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">519,570,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes1Member', window );">EB-5 Development Notes1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Credit Facility Revolver [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Line of Credit Facility, Maximum Borrowing Capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">208,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Basis spread on LIBOR rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_WhistlerCreditAgreementrevolverMember', window );">Whistler Credit Agreement revolver [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Line of Credit Facility, Maximum Borrowing Capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 300.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtDescription', window );">Long-term Debt, Description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Borrowings under the Whistler Credit Agreement are available in Canadian or U.S. dollars and bear interest annually, subject to an applicable margin based on the WB Partnerships&#8217; Consolidated Total Leverage Ratio (as defined in the Whistler Credit Agreement), with pricing as of July 31, 2020, in the case of borrowings (i)&#160;in Canadian dollars, at the WB Partnerships&#8217; option, either (a)&#160;at the Canadian Prime Rate plus 1.25% per annum or (b)&#160;by way of the issuance of bankers&#8217; acceptances plus 2.25% per annum; and (ii)&#160;in U.S. dollars, at the WB Partnerships option, either at (a)&#160;the U.S. Base Rate plus 1.25% per annum or (b)&#160;Bankers Acceptance Rate plus 2.25% per annum<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.79%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.5063%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInitiationDate1', window );">Line of Credit Facility, Initiation Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov. 12,  2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 58,236,000<span></span>
</td>
<td class="nump">45,454,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember', window );">EPR Secured Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AnnualInterestRateIncreaseCap', window );">Annual Interest Rate Increase Cap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 114,162,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember', window );">EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debt Instrument, Face Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 51,500,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanMember', window );">Term Loan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet', window );">Line of Credit Facility, Increase (Decrease), Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 335,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Line of Credit Facility, Maximum Borrowing Capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,250,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Long-term Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,200,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Debt Instrument, Periodic Payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,203,125,000<span></span>
</td>
<td class="nump">914,375,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2024<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanHedgedPortionMember', window );">Term Loan, Hedged Portion [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.66%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.66%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanUnhedgedPortionMember', window );">Term Loan, Unhedged Portion [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.25%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EmployeeHousingBondsMember', window );">Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 52,575,000<span></span>
</td>
<td class="nump">52,575,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember', window );">Canyons Obligation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 346,034,000<span></span>
</td>
<td class="nump">340,261,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2063<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_OtherDebtMember', window );">Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,616,000<span></span>
</td>
<td class="nump">19,465,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_AlpineValleySecuredNoteMember', window );">Alpine Valley Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.21%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.21%<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_BostonMillsBrandywineSecuredNoteMember', window );">Boston Mills Brandywine Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.75%<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_JackFrostBigBoulderSecuredNoteMember', window );">Jack Frost Big Boulder Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.75%<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_MountSnowSecuredNoteMember', window );">Mount Snow Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.78%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.78%<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 51,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_HunterMountainSecuredNoteMember', window );">Hunter Mountain Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.57%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.57%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AnnualInterestRateIncreaseCap', window );">Annual Interest Rate Increase Cap</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes2Member', window );">EB-5 Development Notes2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,000,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_HunterMountainSecuredNoteMember', window );">Hunter Mountain Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EPRAdditionalInterestRate', window );">EPR Additional Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_MountSnowSecuredNoteMember', window );">Mount Snow Secured Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EPRAdditionalInterestRate', window );">EPR Additional Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_A6.25NotesMember', window );">6.25% Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.25%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentRedemptionDescription', window );">Debt Instrument, Redemption, Description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> In addition, prior to May 15, 2022, the Company may redeem up to 35% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.25% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromUnsecuredNotesPayable', window );">Proceeds from Unsecured Notes Payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 600,000,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_EPRSecuredNotesMember', window );">EPR Secured Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EPRAdditionalInterestRate', window );">EPR Additional Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtServiceReserve', window );">Debt Service Reserve</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_ColoradoWaterConservationBoardNoteOutstandingMember', window );">Colorado Water Conservation Board Note Outstanding [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Long-term debt, maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep. 16,  2028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, outstanding amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_BreckenridgeTerraceMember', window );">Breckenridge Terrace [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,980,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2039<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_TarnesMember', window );">Tarnes [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,410,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2039<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_BcHousingMember', window );">BC Housing [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_TenderfootMember', window );">Tenderfoot [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,585,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mtn_EB5DevelopmentNotesMember', window );">EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentYearofMaturity', window );">Fiscal year maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember', window );">Tranche A [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 37,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Reference for interest rate determination</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR plus 0% to 0.1%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember', window );">Tranche A [Member] | Breckenridge Terrace [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,980,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember', window );">Tranche A [Member] | Tarnes [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember', window );">Tranche A [Member] | BC Housing [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember', window );">Tranche A [Member] | Tenderfoot [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember', window );">Tranche B [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,795,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Reference for interest rate determination</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR plus 0% to 0.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember', window );">Tranche B [Member] | Breckenridge Terrace [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember', window );">Tranche B [Member] | Tarnes [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,410,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember', window );">Tranche B [Member] | BC Housing [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember', window );">Tranche B [Member] | Tenderfoot [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,885,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateRangeEnd1', window );">Fiscal year maturity, end</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May  01,  2039<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateRangeEnd1', window );">Fiscal year maturity, end</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2033<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Long term debt interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member] | Tranche A [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Basis spread on LIBOR rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Long term debt interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.27%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateRangeStart1', window );">Fiscal year maturity, start</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun.  01,  2027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Other [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateRangeStart1', window );">Fiscal year maturity, start</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Long term debt interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member] | Tranche A [Member] | Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Basis spread on LIBOR rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Long term debt interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.17%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionSharePrice', window );">Business Acquisition, Share Price | $ / shares</a></td>
<td class="nump">$ 11.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="nump">$ 264,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferredOther1', window );">Business Combination, Consideration Transferred, Other</a></td>
<td class="nump">70,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="nump">334,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Proceeds from (Repayments of) Debt</a></td>
<td class="nump">$ 335,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTradeNames', window );">Indefinite-lived Intangible Assets Acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_IndefiniteLivedPropertyManagementContracts', window );">Indefinite Lived Property Management Contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember', window );">Canyons [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccretionExpense', window );">Accretion Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1', window );">Business Acquisition, Effective Date of Acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 24,  2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_InitialCapitalLeaseTerm', window );">Initial Capital Lease Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">50 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OptionalLeaseRenewalTerm', window );">Optional Lease Renewal Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">six 50-year renewal options<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MinimumCapitalLeasePaymentAnnual', window );">Minimum Capital Lease Payment, Annual</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AdjustmentsToCapitalLeaseAnnualPayments', window );">Adjustments to Capital Lease Annual Payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">inflation-linked index of CPI less 1% per annum, with a floor of 2%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Talisker Canyons Obligation, Interest Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableRateAxis=mtn_ExtensionYear1Member', window );">Extension Year1 [Member] | EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableRateAxis=mtn_ExtensionYear2Member', window );">Extension Year2 [Member] | EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableRateAxis=mtn_EventofDefaultMember', window );">Event of Default [Member] | EB-5 Development Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AdjustmentsToCapitalLeaseAnnualPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments to Capital Lease Annual Payments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AdjustmentsToCapitalLeaseAnnualPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AnnualInterestRateIncreaseCap">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Interest Rate Increase Cap</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AnnualInterestRateIncreaseCap</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_BusinessCombinationCashConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Cash Consideration Transferred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_BusinessCombinationCashConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DebtInstrumentYearofMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Year of Maturity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DebtInstrumentYearofMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DebtServiceReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Service Reserve</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DebtServiceReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_EPRAdditionalInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>EPR Additional Interest Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_EPRAdditionalInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_IndefiniteLivedPropertyManagementContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indefinite Lived Property Management Contracts</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_IndefiniteLivedPropertyManagementContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_InitialCapitalLeaseTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Initial Capital Lease Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_InitialCapitalLeaseTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_InterestRateSwapNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest Rate Swap, Notional Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_InterestRateSwapNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MinimumCapitalLeasePaymentAnnual">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Minimum amount of payment required annually for capital lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MinimumCapitalLeasePaymentAnnual</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OptionalLeaseRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of years in optional renewal terms.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OptionalLeaseRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Minimum Liquidity</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Quarterly Distribution Limit</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Required Liquidity for Distribution</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccretionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 410<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6392676&amp;loc=d3e7480-110848<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 35<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6394232&amp;loc=d3e17558-110866<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccretionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Date when the acquirer obtains control of the acquiree, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116868678&amp;loc=d3e848-128460<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=116868678&amp;loc=d3e845-128460<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionSharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionSharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferredOther1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tangible or intangible assets, including a business or subsidiary of the acquirer transferred by the entity to the former owners of the acquiree. Excludes cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferredOther1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentDescriptionOfVariableRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average effective interest rate during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28551-108399<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=117815213&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDateRangeEnd1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Latest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDateRangeEnd1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDateRangeStart1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Earliest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDateRangeStart1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments including both interest and principal payments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentRedemptionDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of debt redemption features under terms of the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph e<br> -URI http://asc.fasb.org/extlink&amp;oid=75038535&amp;loc=d3e64711-112823<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentRedemptionDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unamortized debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of commitment fees for the unused borrowing capacity under the long-term financing arrangement that is available to the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnusedBorrowingCapacityFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fixed interest rate related to the interest rate derivative.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121605123&amp;loc=d3e30226-110892<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=120253306&amp;loc=d3e28228-110885<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedTradeNames">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedTradeNames</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntercompanyForeignCurrencyBalanceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of an intercompany foreign currency transactions that is of a long-term-investment nature, that is, settlement is not planned of anticipated in the foreseeable future.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IntercompanyForeignCurrencyBalanceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) of the credit facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInitiationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Date the credit facility first became available, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInitiationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of long-term debt arrangements, which are debt arrangements that originally require full repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer, and disclosures pertaining to the underlying arrangements, including repayment terms, conversion features, interest rates, restrictions on assets and activities, debt covenants, and other matters important to users of the financial statements. Types of long-term debt arrangements include borrowing under notes payable, bonds payable, debentures, term loans, and other contractual obligations for payment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtPercentageBearingFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromUnsecuredNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings supported by a written promise to pay an obligation that is uncollateralized (where debt is not backed by the pledge of collateral).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromUnsecuredNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_WhistlerCreditAgreementrevolverMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_WhistlerCreditAgreementrevolverMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EPRSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanHedgedPortionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_TermLoanHedgedPortionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_TermLoanUnhedgedPortionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_TermLoanUnhedgedPortionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EmployeeHousingBondsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EmployeeHousingBondsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_OtherDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_OtherDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_AlpineValleySecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_AlpineValleySecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_BostonMillsBrandywineSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_BostonMillsBrandywineSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_JackFrostBigBoulderSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_JackFrostBigBoulderSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_MountSnowSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_MountSnowSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_HunterMountainSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_HunterMountainSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_EB5DevelopmentNotes2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_HunterMountainSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_HunterMountainSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_MountSnowSecuredNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_MountSnowSecuredNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_A6.25NotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_A6.25NotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_EPRSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_EPRSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_ColoradoWaterConservationBoardNoteOutstandingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_ColoradoWaterConservationBoardNoteOutstandingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_BreckenridgeTerraceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_BreckenridgeTerraceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_TarnesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_TarnesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_BcHousingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_BcHousingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_TenderfootMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_TenderfootMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mtn_EB5DevelopmentNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mtn_EB5DevelopmentNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DebtInstrumentByTrancheAxis=mtn_TrancheaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DebtInstrumentByTrancheAxis=mtn_TrancheBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=mtn_ExtensionYear1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=mtn_ExtensionYear1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=mtn_ExtensionYear2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=mtn_ExtensionYear2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=mtn_EventofDefaultMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=mtn_EventofDefaultMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776317512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements Of Operations - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Net revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainandLodgingservicesandotherrevenue', window );">Mountain and Lodging services and other</a></td>
<td class="nump">$ 1,578,463<span></span>
</td>
<td class="nump">$ 1,807,930<span></span>
</td>
<td class="nump">$ 1,584,310<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainandLodgingretailanddiningrevenue', window );">Mountain and Lodging retail and dining</a></td>
<td class="nump">380,394<span></span>
</td>
<td class="nump">462,933<span></span>
</td>
<td class="nump">423,255<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ResortRevenueNet', window );">Resort net revenue</a></td>
<td class="nump">1,958,857<span></span>
</td>
<td class="nump">2,270,863<span></span>
</td>
<td class="nump">2,007,565<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateRevenue', window );">Real Estate</a></td>
<td class="nump">4,847<span></span>
</td>
<td class="nump">712<span></span>
</td>
<td class="nump">3,988<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total net revenue</a></td>
<td class="nump">1,963,704<span></span>
</td>
<td class="nump">2,271,575<span></span>
</td>
<td class="nump">2,011,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Total segment operating expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainandLodgingoperatingexpenses', window );">Mountain and Lodging operating expense</a></td>
<td class="nump">1,019,437<span></span>
</td>
<td class="nump">1,101,670<span></span>
</td>
<td class="nump">966,566<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainandLodgingcostofproductssold', window );">Mountain and Lodging retail and dining cost of products sold</a></td>
<td class="nump">159,066<span></span>
</td>
<td class="nump">190,044<span></span>
</td>
<td class="nump">174,105<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainandLodginggeneralandadministrativeexpense', window );">General and administrative</a></td>
<td class="nump">278,695<span></span>
</td>
<td class="nump">274,415<span></span>
</td>
<td class="nump">251,806<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ResortExpensesNet', window );">Resort operating expense</a></td>
<td class="nump">1,457,198<span></span>
</td>
<td class="nump">1,566,129<span></span>
</td>
<td class="nump">1,392,477<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateExpense', window );">Real Estate, net</a></td>
<td class="nump">9,182<span></span>
</td>
<td class="nump">5,609<span></span>
</td>
<td class="nump">3,546<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OperatingCostsExpensesAndCostOfSales', window );">Total segment operating expense</a></td>
<td class="nump">1,466,380<span></span>
</td>
<td class="nump">1,571,738<span></span>
</td>
<td class="nump">1,396,023<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OtherOperatingExpensesAndIncomeAbstract', window );"><strong>Other operating (expense) income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="num">(249,572)<span></span>
</td>
<td class="num">(218,117)<span></span>
</td>
<td class="num">(204,462)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_GainOnSaleOfRealProperty', window );">Gain on sale of real property</a></td>
<td class="nump">207<span></span>
</td>
<td class="nump">580<span></span>
</td>
<td class="nump">515<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments (Notes 2 &amp; 8)</a></td>
<td class="num">(28,372)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ChangeinFairValueofContingentConsideration', window );">Change in fair value of contingent consideration (Note 10)</a></td>
<td class="nump">2,964<span></span>
</td>
<td class="num">(5,367)<span></span>
</td>
<td class="nump">1,854<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfAssets', window );">Gain (loss) on disposal of fixed assets and other, net</a></td>
<td class="nump">838<span></span>
</td>
<td class="num">(664)<span></span>
</td>
<td class="num">(4,620)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations</a></td>
<td class="nump">223,389<span></span>
</td>
<td class="nump">476,269<span></span>
</td>
<td class="nump">408,817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainEquityInvestmentIncomeLossNet', window );">Mountain equity investment income, net</a></td>
<td class="nump">1,690<span></span>
</td>
<td class="nump">1,960<span></span>
</td>
<td class="nump">1,523<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Investment income and other, net</a></td>
<td class="nump">1,305<span></span>
</td>
<td class="nump">3,086<span></span>
</td>
<td class="nump">1,944<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency loss on intercompany loans (Note 6)</a></td>
<td class="num">(3,230)<span></span>
</td>
<td class="num">(2,854)<span></span>
</td>
<td class="num">(8,966)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense, net</a></td>
<td class="num">(106,721)<span></span>
</td>
<td class="num">(79,496)<span></span>
</td>
<td class="num">(63,226)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income before (provision) benefit from income taxes</a></td>
<td class="nump">116,433<span></span>
</td>
<td class="nump">398,965<span></span>
</td>
<td class="nump">340,092<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">(Provision) benefit from income taxes (Note 11)</a></td>
<td class="num">(7,378)<span></span>
</td>
<td class="num">(75,472)<span></span>
</td>
<td class="nump">61,138<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">109,055<span></span>
</td>
<td class="nump">323,493<span></span>
</td>
<td class="nump">401,230<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income attributable to noncontrolling interests</a></td>
<td class="num">(10,222)<span></span>
</td>
<td class="num">(22,330)<span></span>
</td>
<td class="num">(21,332)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Vail Resorts, Inc.</a></td>
<td class="nump">$ 98,833<span></span>
</td>
<td class="nump">$ 301,163<span></span>
</td>
<td class="nump">$ 379,898<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Per share amounts (Note 5):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="nump">$ 2.45<span></span>
</td>
<td class="nump">$ 7.46<span></span>
</td>
<td class="nump">$ 9.40<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="nump">2.42<span></span>
</td>
<td class="nump">7.32<span></span>
</td>
<td class="nump">9.13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Cash dividends declared per share</a></td>
<td class="nump">$ 5.28<span></span>
</td>
<td class="nump">$ 6.46<span></span>
</td>
<td class="nump">$ 5.046<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ChangeinFairValueofContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in Fair Value of Contingent Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ChangeinFairValueofContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_GainOnSaleOfRealProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains and losses included in results of operations resulting from the sale of land.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_GainOnSaleOfRealProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainEquityInvestmentIncomeLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainEquityInvestmentIncomeLossNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainandLodgingcostofproductssold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mountain and Lodging retail and dining cost of products sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainandLodgingcostofproductssold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainandLodginggeneralandadministrativeexpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mountain and Lodging general and administrative expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainandLodginggeneralandadministrativeexpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainandLodgingoperatingexpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mountain and Lodging operating expenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainandLodgingoperatingexpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainandLodgingretailanddiningrevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mountain and Lodging retail and dining revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainandLodgingretailanddiningrevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainandLodgingservicesandotherrevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mountain and Lodging services and other revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainandLodgingservicesandotherrevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OperatingCostsExpensesAndCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OperatingCostsExpensesAndCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OtherOperatingExpensesAndIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other operating expenses and income abstract.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OtherOperatingExpensesAndIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ResortExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of mountain and lodging segment operating expenses, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ResortExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ResortRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of mountain and lodging segment revenue.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ResortRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121605123&amp;loc=d3e30226-110892<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=120253306&amp;loc=d3e28228-110885<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2443-110228<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109226691&amp;loc=d3e2941-110230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDispositionOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41242-110953<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32672-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120385591&amp;loc=d3e38679-109324<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778717640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtOtherDisclosuresAbstract', window );"><strong>Long-term Debt, Other Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities', window );">Sale Leaseback Transaction, Net Proceeds, Financing Activities</a></td>
<td class="nump">$ 11,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency loss on intercompany loans (Note 6)</a></td>
<td class="num">(3,230)<span></span>
</td>
<td class="num">$ (2,854)<span></span>
</td>
<td class="num">$ (8,966)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfOtherRealEstate', window );">Proceeds from Sale of Other Real Estate</a></td>
<td class="nump">6,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2021 (1)</a></td>
<td class="nump">69,827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2022</a></td>
<td class="nump">115,195<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2023</a></td>
<td class="nump">63,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2024</a></td>
<td class="nump">63,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2025</a></td>
<td class="nump">1,612,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive', window );">Thereafter</a></td>
<td class="nump">519,570<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="nump">2,444,248<span></span>
</td>
<td class="nump">1,580,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Interest Expense, Debt</a></td>
<td class="nump">106,700<span></span>
</td>
<td class="nump">79,500<span></span>
</td>
<td class="nump">63,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of Financing Costs</a></td>
<td class="nump">$ 1,900<span></span>
</td>
<td class="nump">$ 1,300<span></span>
</td>
<td class="nump">$ 1,300<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121605123&amp;loc=d3e30226-110892<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=120253306&amp;loc=d3e28228-110885<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtOtherDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtOtherDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfOtherRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the sale of other real estate not otherwise defined in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfOtherRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow after closing and debt issuance costs received by a seller-lessee in a sale-leaseback recognized in financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=121602674&amp;loc=d3e51843-112757<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 50<br> -URI http://asc.fasb.org/extlink&amp;oid=121602674&amp;loc=d3e51831-112757<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 40<br> -Section 55<br> -Paragraph 51<br> -URI http://asc.fasb.org/extlink&amp;oid=121602674&amp;loc=d3e51840-112757<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776811416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions (Narrative) (Details)<br> $ in Thousands, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 24, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>AUD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillPurchaseAccountingAdjustments', window );">Measurement period adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,776)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Payments to Acquire Businesses, Net of Cash Acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 327,555<span></span>
</td>
<td class="nump">$ 419,044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,356<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,987<span></span>
</td>
<td class="nump">152,049<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillPurchaseAccountingAdjustments', window );">Measurement period adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="nump">$ 264,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="nump">334,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">427,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 99,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferredOther1', window );">Business Combination, Consideration Transferred, Other</a></td>
<td class="nump">$ 70,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember', window );">Falls Creek and Hotham [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 178.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,894<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_BusinessCombinationCashConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Cash Consideration Transferred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_BusinessCombinationCashConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferredOther1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tangible or intangible assets, including a business or subsidiary of the acquirer transferred by the entity to the former owners of the acquiree. Excludes cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferredOther1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of intangible assets, excluding goodwill, acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant, and equipment recognized as of the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=121600890&amp;loc=d3e2207-128464<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination, such as related to pre-existing relationships with the acquiree, this element represents the disclosure of the amount of acquisition related costs which have been expensed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAcquiredDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAcquiredDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillPurchaseAccountingAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=116868678&amp;loc=d3e961-128460<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillPurchaseAccountingAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555775421064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)<br> $ in Thousands, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 24, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>AUD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite-Lived Trademarks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 230,000<span></span>
</td>
<td class="nump">$ 215,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_UnfavorableLeaseObligationNet', window );">Unfavorable lease obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,651<span></span>
</td>
<td class="nump">19,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,987<span></span>
</td>
<td class="nump">152,049<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="nump">$ 264,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,578<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">427,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">135,879<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(99,275)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="nump">334,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferredOther1', window );">Business Combination, Consideration Transferred, Other</a></td>
<td class="nump">70,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">334,731<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Proceeds from (Repayments of) Debt</a></td>
<td class="nump">$ 335,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(184,668)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember', window );">Falls Creek and Hotham [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,889<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">71,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,894)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 178.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">127,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_StampDutyExpense', window );">Stamp Duty Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember', window );">Canyons [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsLand', window );">Business Acquisition, Purchase Price Allocation, Land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,818<span></span>
</td>
<td class="nump">31,818<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsLandImprovements', window );">Business Acquisition, Purchase Price Allocation, Land Improvements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,228<span></span>
</td>
<td class="nump">49,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements', window );">Business Acquisition, Purchase Price Allocation, Buildings and Building Improvements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42,160<span></span>
</td>
<td class="nump">42,160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsMachineryandEquipment', window );">Business Acquisition, Purchase Price Allocation, Machinery and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,384<span></span>
</td>
<td class="nump">60,384<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsGross', window );">Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Gross (under Capital Lease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">183,590<span></span>
</td>
<td class="nump">183,590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsAccumulatedDepreciation', window );">Business Acquisition, Purchase Price Allocation, Accumulated Depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(65,792)<span></span>
</td>
<td class="num">(56,040)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsNet', window );">Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Net (under Capital Lease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">117,798<span></span>
</td>
<td class="nump">127,550<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember', window );">Stevens Pass [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">64,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">752<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,029)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">64,032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Proceeds from (Repayments of) Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember', window );">Triple Peaks, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_BusinessCombinationCashConsiderationTransferred', window );">Business Combination, Cash Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">159,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,093<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(18,098)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Business Combination, Consideration Transferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">229,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferredOther1', window );">Business Combination, Consideration Transferred, Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">155,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">229,093<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed', window );">Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Proceeds from (Repayments of) Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">195,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember', window );">Mountain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Business Acquisition [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Goodwill, Acquired During Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 135,987<span></span>
</td>
<td class="nump">$ 152,049<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_BusinessCombinationCashConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Cash Consideration Transferred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_BusinessCombinationCashConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) under capital lease obligations that has been recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of building structures held for productive use under capital lease obligations including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of real estate land held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsLandImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of land improvements held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsLandImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsMachineryandEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services under capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsMachineryandEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets under capital lease obligations used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_StampDutyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Stamp Duty Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_StampDutyExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_UnfavorableLeaseObligationNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of unfavorable lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_UnfavorableLeaseObligationNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6613-128477<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=116859721&amp;loc=d3e6578-128477<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferredOther1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tangible or intangible assets, including a business or subsidiary of the acquirer transferred by the entity to the former owners of the acquiree. Excludes cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferredOther1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients for goods or services, including trade receivables, that have been delivered or sold in the normal course of business, and amounts due from others, including related parties expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer, acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax asset attributable to deductible temporary differences and carryforwards acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of intangible assets, excluding goodwill, acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=121600890&amp;loc=d3e2207-128464<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt due after one year or the normal operating cycle, if longer, assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant, and equipment recognized as of the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=121600890&amp;loc=d3e2207-128464<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121647850&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination, such as related to pre-existing relationships with the acquiree, this element represents the disclosure of the amount of acquisition related costs which have been expensed.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasedAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121569800&amp;loc=d3e45014-112735<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasedAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAcquiredDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAcquiredDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedTrademarks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trademark to gain or protect exclusive use of a business name, symbol or other device or style for a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedTrademarks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekandHothamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_StevensPassMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_TriplePeaksLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777750744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions (Summary Pro Forma Financial Information) (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ProFormaFinancialInformationLineItems', window );"><strong>Pro Forma Financial Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaRevenue', window );">Pro forma net revenue</a></td>
<td class="nump">$ 1,970,363<span></span>
</td>
<td class="nump">$ 2,490,809<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss', window );">Pro forma net income attributable to Vail Resorts, Inc.</a></td>
<td class="nump">$ 100,205<span></span>
</td>
<td class="nump">$ 301,234<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic', window );">Pro forma basic net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="nump">$ 2.49<span></span>
</td>
<td class="nump">$ 7.47<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted', window );">Pro forma diluted net income per share attributable to Vail Resorts, Inc.</a></td>
<td class="nump">$ 2.45<span></span>
</td>
<td class="nump">$ 7.32<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ProFormaFinancialInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>[Line Items] for Pro Forma Financial Information [Table]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ProFormaFinancialInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionsProFormaRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=79982066&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionsProFormaRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778039640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Narrative) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet Related Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">$ 28,372<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Two</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Five</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Four</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Three</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation expense</a></td>
<td class="nump">243,100<span></span>
</td>
<td class="nump">210,700<span></span>
</td>
<td class="nump">199,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="nump">$ 6,500<span></span>
</td>
<td class="nump">$ 7,400<span></span>
</td>
<td class="nump">$ 5,300<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778859480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet Related Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">$ 243,100<span></span>
</td>
<td class="nump">$ 210,700<span></span>
</td>
<td class="nump">$ 199,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LandAndLandImprovementsGross', window );">Land and land improvements</a></td>
<td class="nump">750,714<span></span>
</td>
<td class="nump">619,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BuildingsAndImprovementsGross', window );">Buildings and building improvements</a></td>
<td class="nump">1,475,661<span></span>
</td>
<td class="nump">1,284,438<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MachineryAndEquipmentGross', window );">Machinery and equipment</a></td>
<td class="nump">1,361,178<span></span>
</td>
<td class="nump">1,160,817<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FurnitureAndFixturesGross', window );">Furniture and fixtures</a></td>
<td class="nump">308,267<span></span>
</td>
<td class="nump">309,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalizedComputerSoftwareGross', window );">Software</a></td>
<td class="nump">104,223<span></span>
</td>
<td class="nump">118,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_VehiclesGross', window );">Vehicles</a></td>
<td class="nump">80,510<span></span>
</td>
<td class="nump">65,556<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Construction in progress</a></td>
<td class="nump">81,967<span></span>
</td>
<td class="nump">79,282<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Gross property, plant and equipment</a></td>
<td class="nump">4,162,520<span></span>
</td>
<td class="nump">3,637,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation</a></td>
<td class="num">(1,969,841)<span></span>
</td>
<td class="num">(1,795,240)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment, net</a></td>
<td class="nump">$ 2,192,679<span></span>
</td>
<td class="nump">$ 1,842,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LandAndLandImprovementsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of real estate held for productive use. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LandAndLandImprovementsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_VehiclesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of long-lived, depreciable assets that include automobiles and trucks.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_VehiclesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BuildingsAndImprovementsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6812-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BuildingsAndImprovementsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalizedComputerSoftwareGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated amortization of capitalized costs for computer software, including but not limited to, acquired and internally developed computer software.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalizedComputerSoftwareGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FurnitureAndFixturesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FurnitureAndFixturesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MachineryAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6812-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MachineryAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777926296">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details) - Canyons [Member] - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsLand', window );">Capital Leased Assets, Land</a></td>
<td class="nump">$ 31,818<span></span>
</td>
<td class="nump">$ 31,818<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsLandImprovements', window );">Capital Leased Assets, Land Improvements</a></td>
<td class="nump">49,228<span></span>
</td>
<td class="nump">49,228<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements', window );">Capital Leased Assets, Buildings and Building Improvements</a></td>
<td class="nump">42,160<span></span>
</td>
<td class="nump">42,160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsMachineryandEquipment', window );">Capital Leased Assets, Machinery and Equipment</a></td>
<td class="nump">60,384<span></span>
</td>
<td class="nump">60,384<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsGross', window );">Capital Leased Assets, Gross</a></td>
<td class="nump">183,590<span></span>
</td>
<td class="nump">183,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsAccumulatedDepreciation', window );">Capital Leased Assets, Accumulated Depreciation</a></td>
<td class="num">(65,792)<span></span>
</td>
<td class="num">(56,040)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_CapitalLeasedAssetsNet', window );">Capital Leased Assets, Net</a></td>
<td class="nump">$ 117,798<span></span>
</td>
<td class="nump">$ 127,550<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) under capital lease obligations that has been recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of building structures held for productive use under capital lease obligations including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of real estate land held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsLandImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of land improvements held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsLandImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsMachineryandEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services under capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsMachineryandEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_CapitalLeasedAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets under capital lease obligations used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_CapitalLeasedAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasedAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121569800&amp;loc=d3e45014-112735<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasedAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776295624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">$ 28,372<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillGross', window );">Goodwill</a></td>
<td class="nump">1,752,062<span></span>
</td>
<td class="nump">1,625,560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss', window );">Goodwill, Impaired, Accumulated Impairment Loss</a></td>
<td class="num">(25,688)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_GoodwillAccumulatedAmortization', window );">Accumulated amortization</a></td>
<td class="num">(17,354)<span></span>
</td>
<td class="num">(17,354)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, net</a></td>
<td class="nump">1,709,020<span></span>
</td>
<td class="nump">1,608,206<span></span>
</td>
<td class="nump">1,475,686<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedTrademarks', window );">Indefinite-Lived Trademarks</a></td>
<td class="nump">230,000<span></span>
</td>
<td class="nump">215,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherIndefiniteLivedIntangibleAssets', window );">Other Indefinite-lived Intangible Assets</a></td>
<td class="nump">41,667<span></span>
</td>
<td class="nump">42,166<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill', window );">Gross indefinite-lived intangible assets</a></td>
<td class="nump">271,667<span></span>
</td>
<td class="nump">258,071<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization</a></td>
<td class="num">(24,713)<span></span>
</td>
<td class="num">(24,713)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet', window );">Indefinite-lived intangible assets, net</a></td>
<td class="nump">246,954<span></span>
</td>
<td class="nump">233,358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedTradeNamesGross', window );">Gross amortizable intangible assets</a></td>
<td class="nump">38,208<span></span>
</td>
<td class="nump">42,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherFiniteLivedIntangibleAssetsGross', window );">Other Finite-Lived Intangible Assets, Gross</a></td>
<td class="nump">70,772<span></span>
</td>
<td class="nump">67,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Finite-Lived Intangible Assets, Gross</a></td>
<td class="nump">108,980<span></span>
</td>
<td class="nump">109,646<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization</a></td>
<td class="num">(41,158)<span></span>
</td>
<td class="num">(36,831)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Amortizable intangible assets, net</a></td>
<td class="nump">67,822<span></span>
</td>
<td class="nump">72,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_GrossIntangibleAssetsExcludingGoodwill', window );">Total gross intangible assets</a></td>
<td class="nump">380,647<span></span>
</td>
<td class="nump">367,717<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AccumulatedAmortizationExcludingGoodwill', window );">Total accumulated amortization</a></td>
<td class="num">(65,871)<span></span>
</td>
<td class="num">(61,544)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Net Intangible Assets Excluding Goodwill</a></td>
<td class="nump">314,776<span></span>
</td>
<td class="nump">306,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="nump">6,500<span></span>
</td>
<td class="nump">$ 7,400<span></span>
</td>
<td class="nump">$ 5,300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths', window );">Finite-Lived Intangible Asset, Expected Amortization, Year One</a></td>
<td class="nump">4,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Two</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Three</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Four</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive', window );">Finite-Lived Intangible Asset, Expected Amortization, Year Five</a></td>
<td class="nump">4,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember', window );">Goodwill [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">25,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember', window );">Finite-Lived Intangible Assets [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">$ 2,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AccumulatedAmortizationExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accumulated Amortization Excluding Goodwill</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AccumulatedAmortizationExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_GoodwillAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of amortization related to goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_GoodwillAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_GrossIntangibleAssetsExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross Intangible Assets Excluding Goodwill</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_GrossIntangibleAssetsExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indefinite-Lived Intangible Assets, Accumulated Amortization</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indefinite-Lived Intangible Assets (Excluding Goodwill), Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 928<br> -SubTopic 340<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6473545&amp;loc=d3e61844-108004<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 926<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=120154696&amp;loc=d3e54445-107959<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedTradeNamesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross carrying amount before accumulated amortization as of the balance sheet date of the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a reasonably expected period of economic benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedTradeNamesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=120320667&amp;loc=SL49117168-202975<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=99380562&amp;loc=d3e13770-109266<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated impairment loss for an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillImpairedAccumulatedImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedTrademarks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trademark to gain or protect exclusive use of a business name, symbol or other device or style for a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedTrademarks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph ((a)(1),(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherFiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated amortization of finite-lived intangible assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherFiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIndefiniteLivedIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after impairment of indefinite-lived intangible assets classified as other. Excludes financial assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIndefiniteLivedIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_GoodwillMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_FiniteLivedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777147272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, beginning balance</a></td>
<td class="nump">$ 1,608,206<span></span>
</td>
<td class="nump">$ 1,475,686<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Acquisition</a></td>
<td class="nump">135,987<span></span>
</td>
<td class="nump">152,049<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillImpairmentLoss', window );">Goodwill, Impairment Loss</a></td>
<td class="num">(25,688)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillForeignCurrencyTranslationGainLoss', window );">Goodwill, Translation Adjustments</a></td>
<td class="num">(9,485)<span></span>
</td>
<td class="num">(19,529)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, ending balance</a></td>
<td class="nump">1,709,020<span></span>
</td>
<td class="nump">1,608,206<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember', window );">Mountain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, beginning balance</a></td>
<td class="nump">1,540,307<span></span>
</td>
<td class="nump">1,407,787<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Acquisition</a></td>
<td class="nump">135,987<span></span>
</td>
<td class="nump">152,049<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillImpairmentLoss', window );">Goodwill, Impairment Loss</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillForeignCurrencyTranslationGainLoss', window );">Goodwill, Translation Adjustments</a></td>
<td class="num">(9,485)<span></span>
</td>
<td class="num">(19,529)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, ending balance</a></td>
<td class="nump">1,666,809<span></span>
</td>
<td class="nump">1,540,307<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember', window );">Lodging [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, beginning balance</a></td>
<td class="nump">67,899<span></span>
</td>
<td class="nump">67,899<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillAcquiredDuringPeriod', window );">Acquisition</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillImpairmentLoss', window );">Goodwill, Impairment Loss</a></td>
<td class="num">(25,688)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillForeignCurrencyTranslationGainLoss', window );">Goodwill, Translation Adjustments</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill, ending balance</a></td>
<td class="nump">$ 42,211<span></span>
</td>
<td class="nump">$ 67,899<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=120320667&amp;loc=SL49117168-202975<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=99380562&amp;loc=d3e13770-109266<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAcquiredDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAcquiredDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillForeignCurrencyTranslationGainLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of foreign currency translation gain (loss) which increases (decreases) an asset representing future economic benefits from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillForeignCurrencyTranslationGainLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13854-109267<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=99380562&amp;loc=d3e13777-109266<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778440920">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Aug. 01, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsPayableTradeCurrent', window );">Trade payables</a></td>
<td class="nump">$ 59,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 96,377<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred Revenue, Current</a></td>
<td class="nump">256,402<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">335,669<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccruedSalariesCurrent', window );">Accrued salaries, wages and deferred compensation</a></td>
<td class="nump">25,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,318<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccruedEmployeeBenefitsCurrent', window );">Accrued benefits</a></td>
<td class="nump">43,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,797<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Deposits', window );">Deposits</a></td>
<td class="nump">20,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Operating Lease, Liability, Current</a></td>
<td class="nump">36,604<span></span>
</td>
<td class="nump">$ 34,900<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Other accruals</a></td>
<td class="nump">57,048<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,588<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_AccountsPayableAccruedLiabilities', window );">Total accounts payable and accrued liabilities</a></td>
<td class="nump">$ 499,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 607,857<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_AccountsPayableAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_AccountsPayableAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableTradeCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableTradeCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedEmployeeBenefitsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedEmployeeBenefitsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedSalariesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedSalariesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Deposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Deposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121603541&amp;loc=SL77918627-209977<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e7018-107765<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121566466&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555859484488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statement of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="num">$ (157,965)<span></span>
</td>
<td class="nump">$ 159,831<span></span>
</td>
<td class="nump">$ 217,018<span></span>
</td>
<td class="num">$ (109,829)<span></span>
</td>
<td class="num">$ (92,301)<span></span>
</td>
<td class="nump">$ 308,530<span></span>
</td>
<td class="nump">$ 217,990<span></span>
</td>
<td class="num">$ (110,726)<span></span>
</td>
<td class="nump">$ 109,055<span></span>
</td>
<td class="nump">$ 323,493<span></span>
</td>
<td class="nump">$ 401,230<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments (net of tax of $0, $0 and $1,981, respectively)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,075)<span></span>
</td>
<td class="num">(34,287)<span></span>
</td>
<td class="num">(61,957)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent', window );">Change in estimated fair value of hedging instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(22,510)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77,470<span></span>
</td>
<td class="nump">289,206<span></span>
</td>
<td class="nump">339,273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income attributable to noncontrolling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,744)<span></span>
</td>
<td class="num">(17,546)<span></span>
</td>
<td class="num">(5,997)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income attributable to Vail Resorts, Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 73,726<span></span>
</td>
<td class="nump">$ 271,660<span></span>
</td>
<td class="nump">$ 333,276<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(26))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613674-111683<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569643-111683<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss), attributable to parent entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569643-111683<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778087368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract', window );"><strong>Balance Sheet Related Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_PrivateClubDeferredInitiationFeesAndDeposits', window );">Private club deferred initiation fee revenue</a></td>
<td class="nump">$ 105,108<span></span>
</td>
<td class="nump">$ 109,749<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_UnfavorableLeaseObligationNet', window );">Unfavorable lease obligations, net</a></td>
<td class="nump">1,651<span></span>
</td>
<td class="nump">19,017<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Other long-term liabilities</a></td>
<td class="nump">163,486<span></span>
</td>
<td class="nump">154,835<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OtherLongTermLiabilitiesNoncurrent', window );">Total other long-term liabilities</a></td>
<td class="nump">$ 270,245<span></span>
</td>
<td class="nump">$ 283,601<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OtherLongTermLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OtherLongTermLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_PrivateClubDeferredInitiationFeesAndDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of prepayments by customers for private club initiation fees and deposits for services to be provided at a later date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_PrivateClubDeferredInitiationFeesAndDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_UnfavorableLeaseObligationNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of unfavorable lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_UnfavorableLeaseObligationNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetRelatedDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetRelatedDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778755224">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Affiliates (Details) - USD ($)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Investments in equity method affiliates</a></td>
<td class="nump">$ 10.2<span></span>
</td>
<td class="nump">$ 8.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees', window );">Undistributed earnings of equity method affiliates</a></td>
<td class="nump">6.5<span></span>
</td>
<td class="nump">5.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions', window );">Proceeds from Equity Method Investment, Distribution</a></td>
<td class="nump">$ 0.7<span></span>
</td>
<td class="nump">1.0<span></span>
</td>
<td class="nump">$ 1.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember', window );">Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC ("SSF/VARE") [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership interest</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_KeystoneAndIntrawestLlcMember', window );">Keystone and Intrawest Llc [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership interest</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_ClintonDitchAndReservoirCompanyMember', window );">Clinton Ditch and Reservoir Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership interest</a></td>
<td class="nump">43.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember', window );">Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Real estate revenue from leases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.0<span></span>
</td>
<td class="nump">$ 0.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of distribution received from equity method investee for return on investment, classified as operating activities. Excludes distribution for return of investment, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21D<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=SL94080555-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentDividendsOrDistributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109237563&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8813-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of consolidated retained earnings that represent undistributed (not yet received) earnings from 50% or less owned persons accounted for by the equity method (equity method investees).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 852<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6462270&amp;loc=d3e57205-112772<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=120401555&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_KeystoneAndIntrawestLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_KeystoneAndIntrawestLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_ClintonDitchAndReservoirCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mtn_ClintonDitchAndReservoirCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777740120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurements (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription', window );">Business Combination, Contingent Consideration Arrangements, Description</a></td>
<td class="text">42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Lease by the Company.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ContingentConsiderationKeyAssumptionsforValuation', window );">Contingent Consideration, Key Assumptions for Valuation</a></td>
<td class="text">The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated performance for the years ending July 31, 2021 and July 31, 2022, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included Park City EBITDA for the year ending July 31, 2022, an assumed long-term growth rate, a discount rate of 10.49% and volatility of 17.0%, which are unobservable inputs and thus are considered Level 3 inputs.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription', window );">Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description</a></td>
<td class="text">The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated future performance would result in a change in the estimated fair value within the range of approximately $2.9 million to $4.1 million.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue', window );">Interest Rate Cash Flow Hedge Liability at Fair Value</a></td>
<td class="nump">$ 22,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ContingentConsiderationFairValueDisclosure', window );">Liabilities, Fair Value Disclosure</a></td>
<td class="nump">17,800<span></span>
</td>
<td class="nump">$ 27,200<span></span>
</td>
<td class="nump">$ 21,900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForRent', window );">Payments for Rent</a></td>
<td class="num">(6,436)<span></span>
</td>
<td class="num">(67)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1', window );">Change in Fair Value of Contingent Consideration</a></td>
<td class="num">(2,964)<span></span>
</td>
<td class="nump">5,367<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue', window );">Interest Rate Cash Flow Hedge Liability at Fair Value</a></td>
<td class="nump">22,510<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ContingentConsiderationFairValueDisclosure', window );">Liabilities, Fair Value Disclosure</a></td>
<td class="nump">17,800<span></span>
</td>
<td class="nump">27,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_MoneyMarketFundsMember', window );">Money Market Funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">203,158<span></span>
</td>
<td class="nump">3,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_MoneyMarketFundsMember', window );">Money Market Funds [Member] | Level 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">203,158<span></span>
</td>
<td class="nump">3,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CommercialPaperMember', window );">Commercial Paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">2,401<span></span>
</td>
<td class="nump">2,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CommercialPaperMember', window );">Commercial Paper [Member] | Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">2,401<span></span>
</td>
<td class="nump">2,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember', window );">Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">8,208<span></span>
</td>
<td class="nump">7,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember', window );">Certificates of Deposit [Member] | Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and Cash Equivalents, Fair Value Disclosure</a></td>
<td class="nump">$ 8,208<span></span>
</td>
<td class="nump">$ 7,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ContingentConsiderationFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair Value of Contingent Consideration Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ContingentConsiderationFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ContingentConsiderationKeyAssumptionsforValuation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The key inputs of the arrangement and market participant assumptions considered when developing the assumptions used to determine the fair value of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ContingentConsiderationKeyAssumptionsforValuation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the value of a contingent consideration liability, including, but not limited to, differences arising upon settlement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e7008-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For contingent consideration arrangements recognized in connection with a business combination, this element represents a description of such arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120321790&amp;loc=d3e6927-128479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value as of the balance sheet date of all interest rate derivative liabilities designated as cash flow hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4B<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121590274&amp;loc=SL5624163-113959<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash payments to lessor's for use of assets under operating leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of assumptions, classified as other, used in determining fair value of transferor's interests in transferred financial assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 860<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121570589&amp;loc=d3e107314-111719<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_MoneyMarketFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_MoneyMarketFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CommercialPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CommercialPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=us-gaap_CertificatesOfDepositMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777522808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Narrative) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_Netoperatinglosscarryback', window );">Net operating loss carryback</a></td>
<td class="nump">$ 3,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_USRefundablePayrollTaxCredits', window );">US Refundable Payroll Tax Credits</a></td>
<td class="nump">$ 9,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent', window );">Excess tax benefits related to stock-based compensation</a></td>
<td class="num">(7.10%)<span></span>
</td>
<td class="num">(3.00%)<span></span>
</td>
<td class="num">(20.90%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations', window );">Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations</a></td>
<td class="nump">$ 18,577<span></span>
</td>
<td class="nump">$ 17,540<span></span>
</td>
<td class="nump">$ 10,263<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions', window );">Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions</a></td>
<td class="nump">16,654<span></span>
</td>
<td class="nump">11,520<span></span>
</td>
<td class="nump">12,394<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense', window );">Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense</a></td>
<td class="nump">3,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued', window );">Unrecognized tax benefits, income tax penalties and interest accrued</a></td>
<td class="nump">6,200<span></span>
</td>
<td class="nump">6,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense', window );">Income tax examination, penalties and interest expense</a></td>
<td class="num">(100)<span></span>
</td>
<td class="num">$ (1,100)<span></span>
</td>
<td class="num">$ (1,600)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">58,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign', window );">Deferred Tax Assets, Tax Credit Carryforwards, Foreign</a></td>
<td class="nump">4,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount', window );">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</a></td>
<td class="nump">$ 4,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ImpactofTaxReformonRate', window );">Impacts of the Tax Act and other legislative changes</a></td>
<td class="num">(3.20%)<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="num">(24.70%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ForeignRefundablePayrollTaxCredits', window );">Foreign Refundable Payroll Tax Credits</a></td>
<td class="nump">$ 8,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_InterestExpenseMember', window );">Interest Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations', window );">Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations</a></td>
<td class="nump">18,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=country_US', window );">UNITED STATES</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">4,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_ForeignCountryMember', window );">Foreign Tax Authority [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">3,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State and Local Jurisdiction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsValuationAllowance', window );">Operating loss carryforwards, valuation allowance</a></td>
<td class="nump">3,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member', window );">Peak Resorts, Inc. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">$ 49,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ForeignRefundablePayrollTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Foreign Refundable Payroll Tax Credits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ForeignRefundablePayrollTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ImpactofTaxReformonRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Impact of Tax Reform on Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ImpactofTaxReformonRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_Netoperatinglosscarryback">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net operating loss carryback</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_Netoperatinglosscarryback</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_USRefundablePayrollTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>US Refundable Payroll Tax Credits</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_USRefundablePayrollTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign tax credit carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to expense for award under share-based payment arrangement. Excludes expense determined to be nondeductible upon grant or after for award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 740<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120384911&amp;loc=d3e23163-113944<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_InterestExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_InterestExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_ForeignCountryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_ForeignCountryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PeakResortsInc.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773871128">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="nump">$ 216,016<span></span>
</td>
<td class="nump">$ 153,182<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets', window );">Intangible assets</a></td>
<td class="nump">86,509<span></span>
</td>
<td class="nump">73,146<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesLeasingArrangements', window );">Deferred Tax Liabilities, Leasing Arrangements</a></td>
<td class="nump">53,727<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesOther', window );">Deferred Tax Liabilities, Other</a></td>
<td class="nump">13,709<span></span>
</td>
<td class="nump">13,425<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilities', window );">Deferred Tax Liabilities, Gross</a></td>
<td class="nump">369,961<span></span>
</td>
<td class="nump">239,753<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilities', window );">Deferred Tax Liabilities, Net</a></td>
<td class="nump">227,440<span></span>
</td>
<td class="nump">161,473<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DeferredTaxAssetCanyonsObligation', window );">Deferred Tax Asset, Talisker Canyons Obligation</a></td>
<td class="nump">14,997<span></span>
</td>
<td class="nump">13,922<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost', window );">Stock-based compensation</a></td>
<td class="nump">10,313<span></span>
</td>
<td class="nump">9,620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsInvestments', window );">Deferred Tax Assets, Investments</a></td>
<td class="nump">12,400<span></span>
</td>
<td class="nump">13,281<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits', window );">Deferred compensation and other accrued benefits</a></td>
<td class="nump">9,918<span></span>
</td>
<td class="nump">10,674<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies', window );">Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies</a></td>
<td class="nump">4,468<span></span>
</td>
<td class="nump">6,771<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation', window );">Unfavorable lease obligation, net</a></td>
<td class="nump">285<span></span>
</td>
<td class="nump">4,896<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carryforwards other tax credits</a></td>
<td class="nump">13,205<span></span>
</td>
<td class="nump">5,631<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DeferredTaxAssetsOperatingLeaseLiabilities', window );">Deferred Tax Assets, Operating Lease Liabilities</a></td>
<td class="nump">60,838<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Other, net</a></td>
<td class="nump">21,427<span></span>
</td>
<td class="nump">18,850<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total</a></td>
<td class="nump">147,851<span></span>
</td>
<td class="nump">83,645<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance for deferred income taxes</a></td>
<td class="num">(5,330)<span></span>
</td>
<td class="num">(5,365)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNet', window );">Deferred income tax assets, net of valuation allowance</a></td>
<td class="nump">$ 142,521<span></span>
</td>
<td class="nump">$ 78,280<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Income Tax Asset Unfavourable Lease Obligation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DeferredTaxAssetCanyonsObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Tax Asset related to Talisker Canyons Obligation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DeferredTaxAssetCanyonsObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DeferredTaxAssetsOperatingLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Deferred Tax Assets, Operating Lease Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DeferredTaxAssetsOperatingLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(15)(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from investments (excludes investments in subsidiaries and equity method investments).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from contingent liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesLeasingArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from leasing arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesLeasingArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555870572440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CurrentFederalTaxExpenseBenefit', window );">Current federal</a></td>
<td class="num">$ (13,467)<span></span>
</td>
<td class="nump">$ 24,309<span></span>
</td>
<td class="num">$ (43,366)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit', window );">Current state</a></td>
<td class="num">(731)<span></span>
</td>
<td class="nump">8,539<span></span>
</td>
<td class="nump">9,562<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CurrentForeignTaxExpenseBenefit', window );">Current Foreign Tax Expense (Benefit)</a></td>
<td class="nump">4,141<span></span>
</td>
<td class="nump">20,205<span></span>
</td>
<td class="nump">18,436<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Total current</a></td>
<td class="num">(10,057)<span></span>
</td>
<td class="nump">53,053<span></span>
</td>
<td class="num">(15,368)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit', window );">Deferred federal</a></td>
<td class="nump">12,597<span></span>
</td>
<td class="nump">16,983<span></span>
</td>
<td class="num">(45,922)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit', window );">Deferred state</a></td>
<td class="nump">4,266<span></span>
</td>
<td class="nump">5,282<span></span>
</td>
<td class="nump">2,941<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredForeignIncomeTaxExpenseBenefit', window );">Deferred Foreign Income Tax Expense (Benefit)</a></td>
<td class="nump">572<span></span>
</td>
<td class="nump">154<span></span>
</td>
<td class="num">(2,789)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred Income Tax Expense (Benefit)</a></td>
<td class="nump">17,435<span></span>
</td>
<td class="nump">22,419<span></span>
</td>
<td class="num">(45,770)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for income taxes</a></td>
<td class="nump">$ 7,378<span></span>
</td>
<td class="nump">$ 75,472<span></span>
</td>
<td class="num">$ (61,138)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentFederalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentFederalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentForeignTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentForeignTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentStateAndLocalTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentStateAndLocalTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFederalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFederalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredForeignIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredForeignIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32672-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120385591&amp;loc=d3e38679-109324<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778031000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">At U.S. federal income tax rate</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">26.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes', window );">State income tax, net of federal benefit</a></td>
<td class="nump">3.50%<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther', window );">Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent</a></td>
<td class="num">(3.80%)<span></span>
</td>
<td class="num">(1.60%)<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent', window );">Excess tax benefits related to stock-based compensation</a></td>
<td class="num">(7.10%)<span></span>
</td>
<td class="num">(3.00%)<span></span>
</td>
<td class="num">(20.90%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ImpactofTaxReformonRate', window );">Impacts of the Tax Act and other legislative changes</a></td>
<td class="num">(3.20%)<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="num">(24.70%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense', window );">Noncontrolling interests</a></td>
<td class="num">(2.40%)<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
<td class="num">(1.70%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential', window );">Foreign rate differential</a></td>
<td class="num">(2.40%)<span></span>
</td>
<td class="nump">0.40%<span></span>
</td>
<td class="num">(1.50%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments', window );">Other</a></td>
<td class="nump">0.70%<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">0.70%<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective tax rate</a></td>
<td class="nump">6.30%<span></span>
</td>
<td class="nump">18.90%<span></span>
</td>
<td class="num">(18.00%)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ImpactofTaxReformonRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Impact of Tax Reform on Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ImpactofTaxReformonRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to noncontrolling interest income (loss) exempt from income taxes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to expense for award under share-based payment arrangement. Excludes expense determined to be nondeductible upon grant or after for award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 740<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120384911&amp;loc=d3e23163-113944<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other tax credits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555859285640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense', window );">Income Tax Examination, Penalties and Interest Expense</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 1,100<span></span>
</td>
<td class="nump">$ 1,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Unrecognized tax benefits, beginning balance</a></td>
<td class="nump">72,222<span></span>
</td>
<td class="nump">78,242<span></span>
</td>
<td class="nump">76,111<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions', window );">Additions for tax positions of prior years</a></td>
<td class="nump">16,654<span></span>
</td>
<td class="nump">11,520<span></span>
</td>
<td class="nump">12,394<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations', window );">Lapse of statute of limitations</a></td>
<td class="num">(18,577)<span></span>
</td>
<td class="num">(17,540)<span></span>
</td>
<td class="num">(10,263)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Unrecognized tax benefits, ending balance</a></td>
<td class="nump">$ 70,299<span></span>
</td>
<td class="nump">$ 72,222<span></span>
</td>
<td class="nump">$ 78,242<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized tax benefits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10B<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=SL37586934-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778460904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes Components of Income before Income Taxes (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract', window );"><strong>Components of Income Before Income Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic', window );">Income (Loss) from Continuing Operations before Income Taxes, Domestic</a></td>
<td class="nump">$ 89,838<span></span>
</td>
<td class="nump">$ 306,323<span></span>
</td>
<td class="nump">$ 264,379<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign', window );">Income (Loss) from Continuing Operations before Income Taxes, Foreign</a></td>
<td class="nump">26,595<span></span>
</td>
<td class="nump">92,642<span></span>
</td>
<td class="nump">75,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest</a></td>
<td class="nump">$ 116,433<span></span>
</td>
<td class="nump">$ 398,965<span></span>
</td>
<td class="nump">$ 340,092<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Components of Income Before Income Taxes [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773438920">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract', window );"><strong>Presentation of Net Deferred Tax Liabilities and Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxAssetsNet', window );">Deferred Tax Assets, Net of Valuation Allowance, Noncurrent</a></td>
<td class="nump">$ 6,751<span></span>
</td>
<td class="nump">$ 7,286<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilitiesNet', window );">Deferred Tax Liabilities, Net, Noncurrent</a></td>
<td class="nump">234,191<span></span>
</td>
<td class="nump">168,759<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilities', window );">Deferred Tax Liabilities, Net</a></td>
<td class="nump">$ 227,440<span></span>
</td>
<td class="nump">$ 161,473<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Presentation of Net Deferred Tax Liabilities and Assets [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=120406818&amp;loc=d3e31931-109318<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773646504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_StatementofComprehensiveIncomeParentheticalAbstract', window );"><strong>Statement of Comprehensive Income (Parenthetical) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit', window );">Translation Adjustment Functional to Reporting Currency, Tax Benefit (Expense)</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,981<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_StatementofComprehensiveIncomeParentheticalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Statement of Comprehensive Income (Parenthetical) [Abstract]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_StatementofComprehensiveIncomeParentheticalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income tax expense (benefit) from translating foreign currency financial statements into the reporting currency.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=118261656&amp;loc=d3e32211-110900<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e640-108580<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776298616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions (Details)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($) </div>
<div>director</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_BeaverCreekResortCompanyOfColoradoMember', window );">BCRC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RightToAppointNumberOfDirectors', window );">Right to appoint the number of directors | director</a></td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_NumberOfDirectors', window );">Number of directors | director</a></td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Management fees and reimbursement of operating expenses | $</a></td>
<td class="nump">$ 8.3<span></span>
</td>
<td class="nump">$ 9.6<span></span>
</td>
<td class="nump">$ 9.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember', window );">Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Real estate revenue from leases | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.0<span></span>
</td>
<td class="nump">$ 0.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_NumberOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of Directors</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_NumberOfDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:positiveIntegerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RightToAppointNumberOfDirectors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Right to Appoint the Number of Directors</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RightToAppointNumberOfDirectors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:positiveIntegerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of transactions with related party during the financial reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAmountsOfTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=120401555&amp;loc=SL114874292-224272<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_BeaverCreekResortCompanyOfColoradoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_BeaverCreekResortCompanyOfColoradoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776363992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Narrative) (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 29, 2013</div></th>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LettersOfCreditOutstandingAmount', window );">Amount outstanding in letters of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 75,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_SuretyBondsOutstanding', window );">Surety Bonds Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_NumberOfOptionalLeaseRenewalTerms', window );">Number of optional renewal terms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Lease expense, excluding executory costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 58,800<span></span>
</td>
<td class="nump">$ 57,800<span></span>
</td>
<td class="nump">$ 52,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,444,248<span></span>
</td>
<td class="nump">1,580,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=mtn_HollandCreekMetropolitanDistrictMember', window );">Holland Creek Metropolitan District [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DebtInstrumentThirdPartyCreditEnhancements', window );">Credit-enhanced bonds issued amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LettersOfCreditOutstandingAmount', window );">Amount outstanding in letters of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=mtn_RedSkyRanchMetropolitanDistrictMember', window );">Red Sky Ranch Metropolitan District [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLongTermDebt', window );">Other long-term liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,100<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments', window );">Estimated cessation date of capital improvement fee payment obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2031<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_EmployeeHousingBondsMember', window );">Employee Housing Bonds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LettersOfCreditOutstandingAmount', window );">Amount outstanding in letters of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 53,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember', window );">Workers' Compensation and General Liability Related to Construction and Development Activities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LettersOfCreditOutstandingAmount', window );">Amount outstanding in letters of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_NorthstarMember', window );">Northstar [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease Expiration Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OptionalLeaseRenewalTerm', window );">Optional Lease Renewal Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">P10Y<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_PerisherMember', window );">Perisher [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease Expiration Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2048<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OptionalLeaseRenewalTerm', window );">Optional Lease Renewal Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">P20Y<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DescriptionofPercentageRent', window );">Operating Leases, Rent Expense, Contingent Rentals</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> of certain gross revenue<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember', window );">Canyons [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease Expiration Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2079<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OptionalLeaseRenewalTerm', window );">Optional Lease Renewal Term</a></td>
<td class="text">six 50-year renewal options<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekMember', window );">Falls Creek [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease Expiration Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mtn_HothamMember', window );">Hotham [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease Expiration Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jul. 31,  2058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember', window );">Canyons Obligation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 346,034<span></span>
</td>
<td class="nump">$ 340,261<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DebtInstrumentThirdPartyCreditEnhancements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Third Party Credit Enhancements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DebtInstrumentThirdPartyCreditEnhancements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DescriptionofPercentageRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Description of Percentage Rent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DescriptionofPercentageRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_EstimatedCessationDateOfCapitalImprovementFeePayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Estimated Cessation Date Of Capital Improvement Fee Payments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_EstimatedCessationDateOfCapitalImprovementFeePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_NumberOfOptionalLeaseRenewalTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of optional renewal terms</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_NumberOfOptionalLeaseRenewalTerms</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OptionalLeaseRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of years in optional renewal terms.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OptionalLeaseRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_SuretyBondsOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Surety Bonds Outstanding</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_SuretyBondsOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseAndRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseAndRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Date which lease or group of leases is set to expire, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseExpirationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LettersOfCreditOutstandingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total amount of the contingent obligation under letters of credit outstanding as of the reporting date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LettersOfCreditOutstandingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120520924&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=120398452&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=mtn_HollandCreekMetropolitanDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=mtn_HollandCreekMetropolitanDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=mtn_RedSkyRanchMetropolitanDistrictMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=mtn_RedSkyRanchMetropolitanDistrictMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_EmployeeHousingBondsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_EmployeeHousingBondsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingenciesByNatureOfContingencyAxis=mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_NorthstarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_NorthstarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_PerisherMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_PerisherMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_CanyonsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_FallsCreekMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mtn_HothamMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mtn_HothamMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=mtn_CanyonsObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555775494360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Total Mountain net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,710,443<span></span>
</td>
<td class="nump">$ 1,956,201<span></span>
</td>
<td class="nump">$ 1,722,922<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">248,414<span></span>
</td>
<td class="nump">314,662<span></span>
</td>
<td class="nump">284,643<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ResortRevenueNet', window );">Total Resort net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,958,857<span></span>
</td>
<td class="nump">2,270,863<span></span>
</td>
<td class="nump">2,007,565<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateRevenue', window );">Real Estate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,847<span></span>
</td>
<td class="nump">712<span></span>
</td>
<td class="nump">3,988<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total net revenue</a></td>
<td class="nump">$ 77,209<span></span>
</td>
<td class="nump">$ 694,087<span></span>
</td>
<td class="nump">$ 924,638<span></span>
</td>
<td class="nump">$ 267,770<span></span>
</td>
<td class="nump">$ 244,006<span></span>
</td>
<td class="nump">$ 957,987<span></span>
</td>
<td class="nump">$ 849,578<span></span>
</td>
<td class="nump">$ 220,004<span></span>
</td>
<td class="nump">1,963,704<span></span>
</td>
<td class="nump">2,271,575<span></span>
</td>
<td class="nump">2,011,553<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainExpensesNet', window );">Mountain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,212,053<span></span>
</td>
<td class="nump">1,279,567<span></span>
</td>
<td class="nump">1,132,840<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingExpensesNet', window );">Lodging</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">245,145<span></span>
</td>
<td class="nump">286,562<span></span>
</td>
<td class="nump">259,637<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ResortExpensesNet', window );">Resort</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,457,198<span></span>
</td>
<td class="nump">1,566,129<span></span>
</td>
<td class="nump">1,392,477<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateExpense', window );">Real estate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,182<span></span>
</td>
<td class="nump">5,609<span></span>
</td>
<td class="nump">3,546<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_OperatingCostsExpensesAndCostOfSales', window );">Total segment operating expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,466,380<span></span>
</td>
<td class="nump">1,571,738<span></span>
</td>
<td class="nump">1,396,023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_GainOnSaleOfRealProperty', window );">Gain on sale of real property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">207<span></span>
</td>
<td class="nump">580<span></span>
</td>
<td class="nump">515<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainEquityInvestmentIncomeLossNet', window );">Mountain equity investment income, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,690<span></span>
</td>
<td class="nump">1,960<span></span>
</td>
<td class="nump">1,523<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization', window );">Total Reported EBITDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">499,221<span></span>
</td>
<td class="nump">702,377<span></span>
</td>
<td class="nump">617,568<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InventoryRealEstate', window );">Real estate held for sale and investment</a></td>
<td class="nump">96,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">96,844<span></span>
</td>
<td class="nump">101,021<span></span>
</td>
<td class="nump">99,385<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income before provision for income taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">116,433<span></span>
</td>
<td class="nump">398,965<span></span>
</td>
<td class="nump">340,092<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">249,572<span></span>
</td>
<td class="nump">218,117<span></span>
</td>
<td class="nump">204,462<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,372<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfAssets', window );">Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(838)<span></span>
</td>
<td class="nump">664<span></span>
</td>
<td class="nump">4,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ChangeinFairValueofContingentConsideration', window );">Change in fair value of contingent consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,964)<span></span>
</td>
<td class="nump">5,367<span></span>
</td>
<td class="num">(1,854)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Investment Income, Interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,305)<span></span>
</td>
<td class="num">(3,086)<span></span>
</td>
<td class="num">(1,944)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency loss on intercompany loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,230<span></span>
</td>
<td class="nump">2,854<span></span>
</td>
<td class="nump">8,966<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">106,721<span></span>
</td>
<td class="nump">79,496<span></span>
</td>
<td class="nump">63,226<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">(Provision) benefit from income taxes (Note 11)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,378)<span></span>
</td>
<td class="num">(75,472)<span></span>
</td>
<td class="nump">61,138<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="num">(157,965)<span></span>
</td>
<td class="nump">159,831<span></span>
</td>
<td class="nump">217,018<span></span>
</td>
<td class="num">(109,829)<span></span>
</td>
<td class="num">(92,301)<span></span>
</td>
<td class="nump">308,530<span></span>
</td>
<td class="nump">217,990<span></span>
</td>
<td class="num">(110,726)<span></span>
</td>
<td class="nump">109,055<span></span>
</td>
<td class="nump">323,493<span></span>
</td>
<td class="nump">401,230<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income attributable to noncontrolling interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,222)<span></span>
</td>
<td class="num">(22,330)<span></span>
</td>
<td class="num">(21,332)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="num">(153,608)<span></span>
</td>
<td class="nump">$ 152,546<span></span>
</td>
<td class="nump">$ 206,370<span></span>
</td>
<td class="num">$ (106,475)<span></span>
</td>
<td class="num">(89,525)<span></span>
</td>
<td class="nump">$ 292,134<span></span>
</td>
<td class="nump">$ 206,349<span></span>
</td>
<td class="num">$ (107,795)<span></span>
</td>
<td class="nump">98,833<span></span>
</td>
<td class="nump">301,163<span></span>
</td>
<td class="nump">379,898<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, Net</a></td>
<td class="nump">$ 2,192,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,842,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,192,679<span></span>
</td>
<td class="nump">1,842,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_ResortMember', window );">Resort [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization', window );">Total Reported EBITDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">503,349<span></span>
</td>
<td class="nump">706,694<span></span>
</td>
<td class="nump">616,611<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember', window );">Mountain [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization', window );">Total Reported EBITDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,080<span></span>
</td>
<td class="nump">678,594<span></span>
</td>
<td class="nump">591,605<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember', window );">Lodging [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization', window );">Total Reported EBITDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,269<span></span>
</td>
<td class="nump">28,100<span></span>
</td>
<td class="nump">25,006<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_RealEstateMember', window );">Real Estate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization', window );">Total Reported EBITDA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (4,128)<span></span>
</td>
<td class="num">$ (4,317)<span></span>
</td>
<td class="nump">$ 957<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ChangeinFairValueofContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in Fair Value of Contingent Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ChangeinFairValueofContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_EarningBeforeInterestTaxesDepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Earning Before Interest Taxes Depreciation and Amortization for the Segment presented.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_EarningBeforeInterestTaxesDepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_GainOnSaleOfRealProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains and losses included in results of operations resulting from the sale of land.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_GainOnSaleOfRealProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LodgingExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LodgingExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LodgingRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LodgingRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainEquityInvestmentIncomeLossNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainEquityInvestmentIncomeLossNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred that are directly related to generating mountain revenue, including labor and labor-related benefits, retail cost of sales, resort related fees and general and administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_OperatingCostsExpensesAndCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_OperatingCostsExpensesAndCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Revenue</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ResortExpensesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of mountain and lodging segment operating expenses, net.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ResortExpensesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ResortRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The sum of mountain and lodging segment revenue.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ResortRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121605123&amp;loc=d3e30226-110892<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=120253306&amp;loc=d3e28228-110885<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2443-110228<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109226691&amp;loc=d3e2941-110230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDispositionOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68072869&amp;loc=d3e41242-110953<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32672-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120385591&amp;loc=d3e38679-109324<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=119993939&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_ResortMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_ResortMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_MountainMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=mtn_LodgingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_RealEstateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=us-gaap_RealEstateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>87
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555775514216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Information Geographic Information (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 77,209<span></span>
</td>
<td class="nump">$ 694,087<span></span>
</td>
<td class="nump">$ 924,638<span></span>
</td>
<td class="nump">$ 267,770<span></span>
</td>
<td class="nump">$ 244,006<span></span>
</td>
<td class="nump">$ 957,987<span></span>
</td>
<td class="nump">$ 849,578<span></span>
</td>
<td class="nump">$ 220,004<span></span>
</td>
<td class="nump">$ 1,963,704<span></span>
</td>
<td class="nump">$ 2,271,575<span></span>
</td>
<td class="nump">$ 2,011,553<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, Net</a></td>
<td class="nump">2,192,679<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,842,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,192,679<span></span>
</td>
<td class="nump">1,842,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=us-gaap_CanadaRevenueAgencyMember', window );">Canadian [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">223,300<span></span>
</td>
<td class="nump">308,100<span></span>
</td>
<td class="nump">321,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, Net</a></td>
<td class="nump">291,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">319,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">291,700<span></span>
</td>
<td class="nump">319,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=us-gaap_GeographicDistributionForeignMember', window );">Geographic Distribution, Foreign [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">307,743<span></span>
</td>
<td class="nump">406,513<span></span>
</td>
<td class="nump">401,230<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, Net</a></td>
<td class="nump">432,987<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">461,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">432,987<span></span>
</td>
<td class="nump">461,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=us-gaap_GeographicDistributionDomesticMember', window );">Geographic Distribution, Domestic [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,655,961<span></span>
</td>
<td class="nump">1,865,062<span></span>
</td>
<td class="nump">$ 1,610,323<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, Net</a></td>
<td class="nump">$ 1,759,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,381,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,759,692<span></span>
</td>
<td class="nump">$ 1,381,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400017&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=us-gaap_CanadaRevenueAgencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=us-gaap_CanadaRevenueAgencyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=us-gaap_GeographicDistributionForeignMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=us-gaap_GeographicDistributionForeignMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=us-gaap_GeographicDistributionDomesticMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=us-gaap_GeographicDistributionDomesticMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>88
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555902637592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Selected Quarterly Financial Data (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Apr. 30, 2020</div></th>
<th class="th"><div>Jan. 31, 2020</div></th>
<th class="th"><div>Oct. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Apr. 30, 2019</div></th>
<th class="th"><div>Jan. 31, 2019</div></th>
<th class="th"><div>Oct. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_MountainRevenueNet', window );">Mountain revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,710,443<span></span>
</td>
<td class="nump">$ 1,956,201<span></span>
</td>
<td class="nump">$ 1,722,922<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_LodgingRevenueNet', window );">Lodging revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">248,414<span></span>
</td>
<td class="nump">314,662<span></span>
</td>
<td class="nump">284,643<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 77,209<span></span>
</td>
<td class="nump">$ 694,087<span></span>
</td>
<td class="nump">$ 924,638<span></span>
</td>
<td class="nump">$ 267,770<span></span>
</td>
<td class="nump">$ 244,006<span></span>
</td>
<td class="nump">$ 957,987<span></span>
</td>
<td class="nump">$ 849,578<span></span>
</td>
<td class="nump">$ 220,004<span></span>
</td>
<td class="nump">1,963,704<span></span>
</td>
<td class="nump">2,271,575<span></span>
</td>
<td class="nump">2,011,553<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
<td class="num">(170,046)<span></span>
</td>
<td class="nump">218,232<span></span>
</td>
<td class="nump">310,733<span></span>
</td>
<td class="num">(135,530)<span></span>
</td>
<td class="num">(120,582)<span></span>
</td>
<td class="nump">422,598<span></span>
</td>
<td class="nump">301,848<span></span>
</td>
<td class="num">(127,595)<span></span>
</td>
<td class="nump">223,389<span></span>
</td>
<td class="nump">476,269<span></span>
</td>
<td class="nump">408,817<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="num">(157,965)<span></span>
</td>
<td class="nump">159,831<span></span>
</td>
<td class="nump">217,018<span></span>
</td>
<td class="num">(109,829)<span></span>
</td>
<td class="num">(92,301)<span></span>
</td>
<td class="nump">308,530<span></span>
</td>
<td class="nump">217,990<span></span>
</td>
<td class="num">(110,726)<span></span>
</td>
<td class="nump">109,055<span></span>
</td>
<td class="nump">323,493<span></span>
</td>
<td class="nump">401,230<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Vail Resorts, Inc.</a></td>
<td class="num">$ (153,608)<span></span>
</td>
<td class="nump">$ 152,546<span></span>
</td>
<td class="nump">$ 206,370<span></span>
</td>
<td class="num">$ (106,475)<span></span>
</td>
<td class="num">$ (89,525)<span></span>
</td>
<td class="nump">$ 292,134<span></span>
</td>
<td class="nump">$ 206,349<span></span>
</td>
<td class="num">$ (107,795)<span></span>
</td>
<td class="nump">$ 98,833<span></span>
</td>
<td class="nump">$ 301,163<span></span>
</td>
<td class="nump">$ 379,898<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)</a></td>
<td class="num">$ (3.82)<span></span>
</td>
<td class="nump">$ 3.79<span></span>
</td>
<td class="nump">$ 5.12<span></span>
</td>
<td class="num">$ (2.64)<span></span>
</td>
<td class="num">$ (2.22)<span></span>
</td>
<td class="nump">$ 7.26<span></span>
</td>
<td class="nump">$ 5.12<span></span>
</td>
<td class="num">$ (2.66)<span></span>
</td>
<td class="nump">$ 2.45<span></span>
</td>
<td class="nump">$ 7.46<span></span>
</td>
<td class="nump">$ 9.40<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)</a></td>
<td class="num">$ (3.82)<span></span>
</td>
<td class="nump">$ 3.74<span></span>
</td>
<td class="nump">$ 5.04<span></span>
</td>
<td class="num">$ (2.64)<span></span>
</td>
<td class="num">$ (2.22)<span></span>
</td>
<td class="nump">$ 7.12<span></span>
</td>
<td class="nump">$ 5.02<span></span>
</td>
<td class="num">$ (2.66)<span></span>
</td>
<td class="nump">$ 2.42<span></span>
</td>
<td class="nump">$ 7.32<span></span>
</td>
<td class="nump">$ 9.13<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_LodgingRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_LodgingRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_MountainRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_MountainRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1448-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=120380238&amp;loc=d3e3842-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(27))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=d3e1337-109256<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 40<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9031-108599<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9038-108599<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 42<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e9054-108599<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778857656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Repurchase Plan (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
<th class="th"><div>Dec. 04, 2015</div></th>
<th class="th"><div>Jul. 16, 2008</div></th>
<th class="th"><div>Mar. 09, 2006</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesLineItems', window );"><strong>Accelerated Share Repurchases [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Treasury Stock, Shares, Acquired</a></td>
<td class="nump">256,418<span></span>
</td>
<td class="nump">353,007<span></span>
</td>
<td class="nump">115,422<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchases of Common Stock</a></td>
<td class="nump">$ 46,422<span></span>
</td>
<td class="nump">$ 85,000<span></span>
</td>
<td class="nump">$ 25,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased', window );">Number of shares authorized to repurchase</a></td>
<td class="nump">7,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased', window );">Additional number of shares authorized to repurchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,500,000<span></span>
</td>
<td class="nump">3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Number of shares repurchased since inception</a></td>
<td class="nump">6,161,141<span></span>
</td>
<td class="nump">5,905,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Value of stock repurchased since inception</a></td>
<td class="nump">$ 404,411<span></span>
</td>
<td class="nump">$ 357,989<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased', window );">Remaining shares available for repurchase under existing program</a></td>
<td class="nump">1,338,859<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcceleratedShareRepurchasesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcceleratedShareRepurchasesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The remaining number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockSharesAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and are being held in treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29,30)<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555774773688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Narrative) (Details) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2023</div></th>
<th class="th"><div>Jul. 31, 2022</div></th>
<th class="th"><div>Jul. 31, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Shares issued for stock based compensation (in shares)</a></td>
<td class="nump">4,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife', window );">Stock based compensation award life</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Stock based compensation award vesting period</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Stock based compensation, shares available for grant (in shares)</a></td>
<td class="nump">3,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Total unrecognized compensation expense</a></td>
<td class="nump">$ 25.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions', window );">Share-based Payment Arrangement, Exercise of Option, Tax Benefit</a></td>
<td class="nump">$ 12.3<span></span>
</td>
<td class="nump">$ 16.3<span></span>
</td>
<td class="nump">$ 79.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember', window );">Stock Appreciation Rights (SARs) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value (in dollars per share)</a></td>
<td class="nump">$ 58.25<span></span>
</td>
<td class="nump">$ 98.19<span></span>
</td>
<td class="nump">$ 78.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Intrinsic value of options and SARs exercised</a></td>
<td class="nump">$ 35.0<span></span>
</td>
<td class="nump">$ 41.2<span></span>
</td>
<td class="nump">$ 213.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares</a></td>
<td class="nump">91,000<span></span>
</td>
<td class="nump">131,000<span></span>
</td>
<td class="nump">169,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value</a></td>
<td class="nump">$ 2.6<span></span>
</td>
<td class="nump">$ 15.2<span></span>
</td>
<td class="nump">$ 18.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mtn_RestrictedStockUnitsRsusMember', window );">Restricted Stock Units (RSUs) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value (in dollars per share)</a></td>
<td class="nump">$ 217.46<span></span>
</td>
<td class="nump">$ 264.44<span></span>
</td>
<td class="nump">$ 215.14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod', window );">Stock based compensation, restricted shares granted (in shares)</a></td>
<td class="nump">83,000<span></span>
</td>
<td class="nump">68,000<span></span>
</td>
<td class="nump">77,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Stock based compensation, restricted shares vested (in shares)</a></td>
<td class="nump">63,000<span></span>
</td>
<td class="nump">102,000<span></span>
</td>
<td class="nump">101,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue', window );">Stock based compensation, total fair value of restricted shares</a></td>
<td class="nump">$ 14.8<span></span>
</td>
<td class="nump">$ 28.8<span></span>
</td>
<td class="nump">$ 23.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_UnrecognizedCompensationExpenseAxis=mtn_ExpectedToBeRecognizedInOneYearMember', window );">Expected to be Recognized in One Year [Member] | Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Total unrecognized compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1.2<span></span>
</td>
<td class="nump">$ 9.0<span></span>
</td>
<td class="nump">$ 15.7<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Award Life</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cost not yet recognized for nonvested award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tax benefit from exercise of option under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=SL79508275-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares authorized for issuance under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of options vested.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mtn_RestrictedStockUnitsRsusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mtn_RestrictedStockUnitsRsusMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_UnrecognizedCompensationExpenseAxis=mtn_ExpectedToBeRecognizedInOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_UnrecognizedCompensationExpenseAxis=mtn_ExpectedToBeRecognizedInOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementScenarioAxis=srt_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementScenarioAxis=srt_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777938824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">29.70%<span></span>
</td>
<td class="nump">38.60%<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Expected dividends</a></td>
<td class="nump">2.80%<span></span>
</td>
<td class="nump">2.10%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum', window );">Risk-free rate, minimum</a></td>
<td class="nump">1.80%<span></span>
</td>
<td class="nump">2.40%<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum', window );">Risk-free rate, maximum</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.90%<span></span>
</td>
<td class="nump">2.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term (average in years)</a></td>
<td class="text">6 years 6 months<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">5 years 10 months<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term (average in years)</a></td>
<td class="text">7 years 1 month<span></span>
</td>
<td class="text">6 years 7 months<span></span>
</td>
<td class="text">6 years 5 months<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The minimum risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Expected term of award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=115993241&amp;loc=d3e301413-122809<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555775502504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details) - USD ($)<br> $ / shares in Units, shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Share-based Payment Arrangement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber', window );">Awards, outstanding beginning balance (in shares)</a></td>
<td class="nump">1,171<span></span>
</td>
<td class="nump">1,324<span></span>
</td>
<td class="nump">2,290<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod', window );">Awards, granted (in shares)</a></td>
<td class="nump">146<span></span>
</td>
<td class="nump">80<span></span>
</td>
<td class="nump">86<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised', window );">Awards, exercised (in shares)</a></td>
<td class="num">(247)<span></span>
</td>
<td class="num">(219)<span></span>
</td>
<td class="num">(1,049)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod', window );">Awards, forfeited or expired (in shares)</a></td>
<td class="num">(9)<span></span>
</td>
<td class="num">(14)<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber', window );">Awards, outstanding ending balance (in shares)</a></td>
<td class="nump">1,061<span></span>
</td>
<td class="nump">1,171<span></span>
</td>
<td class="nump">1,324<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber', window );">Awards, exercisable ending balance (in shares)</a></td>
<td class="nump">846<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice', window );">Weighted-average exercise price, outstanding beginning balance (in dollars per share)</a></td>
<td class="nump">$ 111.12<span></span>
</td>
<td class="nump">$ 91.01<span></span>
</td>
<td class="nump">$ 59.12<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice', window );">Weighted-average exercise price, granted (in dollars per share)</a></td>
<td class="nump">245.26<span></span>
</td>
<td class="nump">293.82<span></span>
</td>
<td class="nump">237.86<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice', window );">Weighted-average exercise price, exercised (in dollars per share)</a></td>
<td class="nump">67.19<span></span>
</td>
<td class="nump">49.09<span></span>
</td>
<td class="nump">33.25<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Weighted-average exercise price, forfeited or expired (in dollars per share)</a></td>
<td class="nump">252.75<span></span>
</td>
<td class="nump">217.58<span></span>
</td>
<td class="nump">172.03<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice', window );">Weighted-average exercise price, outstanding ending balance (in dollars per share)</a></td>
<td class="nump">138.59<span></span>
</td>
<td class="nump">$ 111.12<span></span>
</td>
<td class="nump">$ 91.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice', window );">Weighted-average exercise price, exercisable ending balance (in dollars per share)</a></td>
<td class="nump">$ 108.73<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm', window );">Weighted-average remaining contractual term, outstanding ending balance (in years)</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm', window );">Weighted-average remaining contractual term, exercisable ending balance (in years)</a></td>
<td class="text">4 years 1 month 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue', window );">Aggregate intrinsic value, outstanding ending balance</a></td>
<td class="nump">$ 75,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number</a></td>
<td class="nump">1,042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price</a></td>
<td class="nump">$ 136.66<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</a></td>
<td class="text">4 years 10 months 24 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value</a></td>
<td class="nump">$ 75,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue', window );">Aggregate intrinsic value, exercisable ending balance</a></td>
<td class="nump">$ 75,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options and stock appreciation rights outstanding and currently exercisable under the option plan as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options and stock appreciation rights outstanding as of the balance sheet date can be currently converted under the plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options and stock appreciation rights outstanding and currently exercisable under the plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average period between the balance sheet date and expiration for all vested portions of options and stock appreciation rights outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average price at which option and stock appreciation right holders acquired shares when converting their stock options or stock appreciation rights into shares under the plan during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For presentations that combine terminations, the number of shares under options and stock appreciation rights that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the plan or that expired.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The combined weighted average exercise price associated with stock options and stock appreciation rights during the period that have either lapsed or been forfeited.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options and stock appreciation rights awarded under the plan during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options and stock appreciation rights outstanding under the plan as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance under stock option agreements and stock appreciation rights awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options and stock appreciation rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the plan for options and stock appreciation rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average period between the balance sheet date and expiration for all awards of options and stock appreciation rights outstanding under the plan, which may be expressed in a decimal value for number of years.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on stock appreciation rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of share options and stock appreciation rights exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of fully vested and expected to vest exercisable options that may be converted into shares under option plan. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount by which current fair value of underlying stock exceeds exercise price of fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted-average exercise price, at which grantee can acquire shares reserved for issuance, for fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555778685736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details) - $ / shares<br> shares in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
<th class="th"><div>Jul. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</a></td>
<td class="nump">1,061<span></span>
</td>
<td class="nump">1,171<span></span>
</td>
<td class="nump">1,324<span></span>
</td>
<td class="nump">2,290<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember', window );">Stock Appreciation Rights (SARs) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</a></td>
<td class="nump">215<span></span>
</td>
<td class="nump">168<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod', window );">Awards, granted (in shares)</a></td>
<td class="nump">146<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod', window );">Awards, vested (in shares)</a></td>
<td class="num">(91)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod', window );">Awards, forfeited (in shares)</a></td>
<td class="num">(8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share)</a></td>
<td class="nump">$ 80.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, granted (in dollars per share)</a></td>
<td class="nump">58.25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, vested (in dollars per share)</a></td>
<td class="nump">71.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, forfeited (in dollars per share)</a></td>
<td class="nump">79.23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, outstanding ending balance (in dollars per share)</a></td>
<td class="nump">$ 69.45<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance under stock option agreements and stock appreciation rights awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options and stock appreciation rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of stock appreciation rights, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of the grant date of stock appreciation rights that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on stock appreciation rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested stock appreciation rights issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested stock appreciation rights for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to the underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of stock appreciation rights, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to stock appreciation rights for which the grantee gained the right during the reporting period, by satisfying service requirements, to retain shares or units, in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777038024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements Of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Exchangeable Shares [Member]</div></th>
<th class="th"><div>Additional Paid in Capital [Member]</div></th>
<th class="th"><div>Accumulated Other Comprehensive Loss [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Treasury Stock [Member]</div></th>
<th class="th"><div>Total Vail Resorts, Inc. Stockholders' Equity [Member]</div></th>
<th class="th"><div>Noncontrolling Interest [Member]</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Jul. 31, 2017</a></td>
<td class="nump">$ 1,798,959<span></span>
</td>
<td class="nump">$ 454<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">$ 1,222,510<span></span>
</td>
<td class="nump">$ 44,395<span></span>
</td>
<td class="nump">$ 550,985<span></span>
</td>
<td class="num">$ (247,189)<span></span>
</td>
<td class="nump">$ 1,571,156<span></span>
</td>
<td class="nump">$ 227,803<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Vail Resorts, Inc.</a></td>
<td class="nump">379,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">379,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">379,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net Income (Loss) Attributable to Noncontrolling Interest</a></td>
<td class="nump">21,332<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income, including portion attributable to noncontrolling interest</a></td>
<td class="nump">401,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments, net of tax</a></td>
<td class="num">(61,957)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(46,622)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(46,622)<span></span>
</td>
<td class="num">(15,335)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent', window );">Change in estimated fair value of hedging instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">333,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">333,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</a></td>
<td class="nump">5,997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,997<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Total comprehensive income</a></td>
<td class="nump">339,273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Stock-based compensation (Note 17)</a></td>
<td class="nump">19,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GoodwillPurchaseAccountingAdjustments', window );">Measurement period adjustment</a></td>
<td class="num">(1,776)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,776)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</a></td>
<td class="num">(104,077)<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(104,083)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(104,077)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of common stock (Note 16)</a></td>
<td class="num">(25,800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(25,800)<span></span>
</td>
<td class="num">(25,800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsCommonStock', window );">Dividends (Note 5)</a></td>
<td class="num">(204,161)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(204,161)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(204,161)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to noncontrolling interests, net</a></td>
<td class="num">(9,795)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,795)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Jul. 31, 2018</a></td>
<td class="nump">1,811,663<span></span>
</td>
<td class="nump">460<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1,137,467<span></span>
</td>
<td class="num">(2,227)<span></span>
</td>
<td class="nump">726,722<span></span>
</td>
<td class="num">(272,989)<span></span>
</td>
<td class="nump">1,589,434<span></span>
</td>
<td class="nump">222,229<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Vail Resorts, Inc.</a></td>
<td class="nump">301,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">301,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">301,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net Income (Loss) Attributable to Noncontrolling Interest</a></td>
<td class="nump">22,330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,330<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income, including portion attributable to noncontrolling interest</a></td>
<td class="nump">323,493<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments, net of tax</a></td>
<td class="num">(34,287)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(29,503)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(29,503)<span></span>
</td>
<td class="num">(4,784)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent', window );">Change in estimated fair value of hedging instruments</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">271,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">271,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</a></td>
<td class="nump">17,546<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,546<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Total comprehensive income</a></td>
<td class="nump">289,206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Stock-based compensation (Note 17)</a></td>
<td class="nump">19,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings', window );">Cumulative effect for adoption of revenue standard</a></td>
<td class="num">(7,517)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,517)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,517)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</a></td>
<td class="num">(27,239)<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(27,240)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(27,239)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of common stock (Note 16)</a></td>
<td class="num">(85,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(85,000)<span></span>
</td>
<td class="num">(85,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsCommonStock', window );">Dividends (Note 5)</a></td>
<td class="num">(260,567)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(260,567)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(260,567)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to noncontrolling interests, net</a></td>
<td class="num">(13,562)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(13,562)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Jul. 31, 2019</a></td>
<td class="nump">1,726,840<span></span>
</td>
<td class="nump">461<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1,130,083<span></span>
</td>
<td class="num">(31,730)<span></span>
</td>
<td class="nump">759,801<span></span>
</td>
<td class="num">(357,989)<span></span>
</td>
<td class="nump">1,500,627<span></span>
</td>
<td class="nump">226,213<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Vail Resorts, Inc.</a></td>
<td class="nump">98,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net Income (Loss) Attributable to Noncontrolling Interest</a></td>
<td class="nump">10,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income, including portion attributable to noncontrolling interest</a></td>
<td class="nump">109,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments, net of tax</a></td>
<td class="num">(9,075)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,597)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,597)<span></span>
</td>
<td class="num">(6,478)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent', window );">Change in estimated fair value of hedging instruments</a></td>
<td class="num">(22,510)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(22,510)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(22,510)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">73,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">73,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</a></td>
<td class="nump">3,744<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,744<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Total comprehensive income</a></td>
<td class="nump">77,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Stock-based compensation (Note 17)</a></td>
<td class="nump">21,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ExchangeableSharesTransfer', window );">Exchangeable share transfers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)</a></td>
<td class="num">(19,478)<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,480)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,478)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of common stock (Note 16)</a></td>
<td class="num">(46,422)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(46,422)<span></span>
</td>
<td class="num">(46,422)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsCommonStock', window );">Dividends (Note 5)</a></td>
<td class="num">(212,732)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(212,732)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(212,732)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to noncontrolling interests, net</a></td>
<td class="num">(15,032)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(15,032)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Jul. 31, 2020</a></td>
<td class="nump">$ 1,531,667<span></span>
</td>
<td class="nump">$ 464<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 1,131,624<span></span>
</td>
<td class="num">$ (56,837)<span></span>
</td>
<td class="nump">$ 645,902<span></span>
</td>
<td class="num">$ (404,411)<span></span>
</td>
<td class="nump">$ 1,316,742<span></span>
</td>
<td class="nump">$ 214,925<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ExchangeableSharesTransfer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Exchangeable Shares Transfer</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ExchangeableSharesTransfer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Revenue from Contracts with Customers Adoption Impact to Retained Earnings</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(26))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4613674-111683<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569643-111683<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 405<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillPurchaseAccountingAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 25<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=116868678&amp;loc=d3e961-128460<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=121556970&amp;loc=d3e13816-109267<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillPurchaseAccountingAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399700&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22595-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=120400993&amp;loc=SL114874131-224263<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395209&amp;loc=SL114868664-224227<br><br>Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22583-107794<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121326447&amp;loc=SL5780133-109256<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss), attributable to parent entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569643-111683<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value, after forfeiture, of shares granted under share-based payment arrangement. Excludes employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 30<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=121321822&amp;loc=d3e3913-113898<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 30<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121323062&amp;loc=d3e15009-113911<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value, after forfeiture, of shares issued under share-based payment arrangement. Excludes employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5047-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=120381028&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=120391452&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21930-107793<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=118261656&amp;loc=d3e32136-110900<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=120397183&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21914-107793<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22644-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 326<br> -SubTopic 10<br> -Section 65<br> -Paragraph 4<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121646688&amp;loc=SL121648383-210437<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568740-111683<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4590271-111686<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 40<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121370832&amp;loc=SL117420844-207641<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=118261656&amp;loc=d3e32211-110900<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929471&amp;loc=d3e21711-107793<br><br>Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4568447-111683<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (f)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 65<br> -Paragraph 15<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121322162&amp;loc=SL121327923-165333<br><br>Reference 22: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 65<br> -Paragraph 8<br> -Subparagraph (d)(2)<br><br>Reference 23: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 65<br> -Paragraph 8<br> -Subparagraph (d)(3)<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=mtn_ExchangeableSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=mtn_ExchangeableSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=mtn_TotalVailResortsIncStockholdersEquityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=mtn_TotalVailResortsIncStockholdersEquityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555868291976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details) - Restricted Stock Units (RSUs) [Member]<br> shares in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 31, 2020 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber', window );">Awards, outstanding beginning balance (in shares) | shares</a></td>
<td class="nump">126<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod', window );">Awards, granted (in shares) | shares</a></td>
<td class="nump">83<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod', window );">Awards, vested (in shares) | shares</a></td>
<td class="num">(63)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod', window );">Awards, forfeited (in shares) | shares</a></td>
<td class="num">(16)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber', window );">Awards, outstanding ending balance (in shares) | shares</a></td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 230.10<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, granted (in dollars per share) | $ / shares</a></td>
<td class="nump">217.46<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, vested (in dollars per share) | $ / shares</a></td>
<td class="nump">216.07<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">229.97<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue', window );">Weighted-average grant-date fair value, outstanding ending balance (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 228.77<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of restricted stock units vested during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of restricted share units, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of the grant date of restricted share units that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Net number of restricted share units granted during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested restricted share units, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested restricted share units for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to restricted share units for which the grantee gained the right during the reporting period, by satisfying service requirements, to receive shares or units in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested restricted share units issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mtn_RestrictedStockUnitsRsusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mtn_RestrictedStockUnitsRsusMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555777071976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Retirement and Profit Sharing Plans (Details)<br> $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jul. 31, 2020 </div>
<div>USD ($) </div>
<div>hour</div>
</th>
<th class="th">
<div>Jul. 31, 2019 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>Retirement Benefits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DefinedContributionPlanEmployeeContributionPercentage', window );">Employee contribution percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent', window );">Company match amount equal to participant's contribution</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DefinedContributionPlanEmployerContributionPercentage', window );">Employer contribution matching equal to 50%</a></td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths', window );">Employment period (in months)</a></td>
<td class="text">12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours', window );">Service period (in hours)</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours', window );">Total service period (in hours)</a></td>
<td class="nump">1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanCostRecognized', window );">Retirement plan expense | $</a></td>
<td class="nump">$ 5.8<span></span>
</td>
<td class="nump">$ 7.9<span></span>
</td>
<td class="nump">$ 6.9<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DefinedContributionPlanEmployeeContributionPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Defined Contribution Plan, Maximum Employee Contribution Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DefinedContributionPlanEmployeeContributionPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DefinedContributionPlanEmployerContributionPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Defined Contribution Plan, Maximum Employer Contribution Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DefinedContributionPlanEmployerContributionPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Requisite Employment Period in Months to be eligible for the Company's matching contributions if 1,000 service hours are worked.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Requisite Employment Period in Hours within a consecutive 12 month period to be eligible for the Company's matching contributions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:positiveIntegerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Requisite Employment Period in Hours to be eligible for the Company's matching contributions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:positiveIntegerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CompensationAndRetirementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanCostRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cost for defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanCostRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage of employees' gross pay for which the employer contributes a matching contribution to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555776446456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements Of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2020</div></th>
<th class="th"><div>Jul. 31, 2019</div></th>
<th class="th"><div>Jul. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 109,055<span></span>
</td>
<td class="nump">$ 323,493<span></span>
</td>
<td class="nump">$ 401,230<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">249,572<span></span>
</td>
<td class="nump">218,117<span></span>
</td>
<td class="nump">204,462<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Asset impairments</a></td>
<td class="nump">28,372<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RealEstateCostofSales', window );">Cost of real estate sales</a></td>
<td class="nump">3,684<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense</a></td>
<td class="nump">21,021<span></span>
</td>
<td class="nump">19,856<span></span>
</td>
<td class="nump">19,040<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred income taxes, net</a></td>
<td class="nump">17,435<span></span>
</td>
<td class="nump">22,419<span></span>
</td>
<td class="num">(45,770)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccretionExpense', window );">Canyons obligation accreted interest expense</a></td>
<td class="nump">5,773<span></span>
</td>
<td class="nump">5,752<span></span>
</td>
<td class="nump">5,723<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ChangeinFairValueofContingentConsideration', window );">Change in fair value of contingent consideration</a></td>
<td class="num">(2,964)<span></span>
</td>
<td class="nump">5,367<span></span>
</td>
<td class="num">(1,854)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign currency loss on intercompany loans</a></td>
<td class="nump">3,230<span></span>
</td>
<td class="nump">2,854<span></span>
</td>
<td class="nump">8,966<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_GainOnSaleOfRealProperty', window );">Gain on sale of real property</a></td>
<td class="num">(207)<span></span>
</td>
<td class="num">(580)<span></span>
</td>
<td class="num">(515)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherNoncashIncome', window );">Other non-cash income, net</a></td>
<td class="num">(16,674)<span></span>
</td>
<td class="num">(13,875)<span></span>
</td>
<td class="num">(13,784)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities, net of effects of acquisitions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable, net</a></td>
<td class="nump">167,347<span></span>
</td>
<td class="num">(35,406)<span></span>
</td>
<td class="num">(44,261)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories, net</a></td>
<td class="num">(1,924)<span></span>
</td>
<td class="num">(7,274)<span></span>
</td>
<td class="num">(963)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued liabilities</a></td>
<td class="num">(82,394)<span></span>
</td>
<td class="nump">23,296<span></span>
</td>
<td class="nump">1,879<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Increase (Decrease) in Deferred Revenue</a></td>
<td class="num">(98,003)<span></span>
</td>
<td class="nump">35,628<span></span>
</td>
<td class="nump">42,007<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities', window );">Income taxes payable - excess tax benefit from share award plans</a></td>
<td class="num">(8,236)<span></span>
</td>
<td class="num">(12,932)<span></span>
</td>
<td class="num">(71,077)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable - other</a></td>
<td class="num">(4,951)<span></span>
</td>
<td class="nump">38,773<span></span>
</td>
<td class="nump">38,453<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet', window );">Other assets and liabilities, net</a></td>
<td class="nump">4,814<span></span>
</td>
<td class="nump">8,743<span></span>
</td>
<td class="nump">1,249<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">394,950<span></span>
</td>
<td class="nump">634,231<span></span>
</td>
<td class="nump">548,486<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireProductiveAssets', window );">Capital expenditures</a></td>
<td class="num">(172,334)<span></span>
</td>
<td class="num">(192,035)<span></span>
</td>
<td class="num">(140,611)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Acquisition of businesses, net of cash acquired</a></td>
<td class="num">(327,555)<span></span>
</td>
<td class="num">(419,044)<span></span>
</td>
<td class="num">(1,356)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities', window );">Other investing activities, net</a></td>
<td class="nump">7,150<span></span>
</td>
<td class="nump">15,045<span></span>
</td>
<td class="nump">7,388<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(492,739)<span></span>
</td>
<td class="num">(596,034)<span></span>
</td>
<td class="num">(134,579)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Proceeds from borrowings under Vail Holdings Credit Agreement</a></td>
<td class="nump">892,625<span></span>
</td>
<td class="nump">543,625<span></span>
</td>
<td class="nump">225,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_ProceedsfromWhistlerCreditAgreementrevolver', window );">Proceeds from borrowings under Whistler Credit Agreement</a></td>
<td class="nump">209,634<span></span>
</td>
<td class="nump">26,518<span></span>
</td>
<td class="nump">46,513<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromNotesPayable', window );">Proceeds from borrowings under 6.25% Notes</a></td>
<td class="nump">600,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RepaymentsofTermLoan', window );">Repayments of borrowings under Vail Holdings Credit Agreement</a></td>
<td class="num">(811,875)<span></span>
</td>
<td class="num">(235,625)<span></span>
</td>
<td class="num">(182,500)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_mtn_RepaymentsofWhistlerCreditAgreementrevolver', window );">Repayments of borrowings under Whistler Credit Agreement</a></td>
<td class="num">(204,032)<span></span>
</td>
<td class="num">(45,060)<span></span>
</td>
<td class="num">(91,941)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation', window );">Employee taxes paid for share award exercises</a></td>
<td class="num">(19,478)<span></span>
</td>
<td class="num">(27,239)<span></span>
</td>
<td class="num">(104,077)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchases of common stock</a></td>
<td class="num">(46,422)<span></span>
</td>
<td class="num">(85,000)<span></span>
</td>
<td class="num">(25,800)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Dividends paid</a></td>
<td class="num">(212,732)<span></span>
</td>
<td class="num">(260,567)<span></span>
</td>
<td class="num">(204,161)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities', window );">Other financing activities, net</a></td>
<td class="num">(31,487)<span></span>
</td>
<td class="num">(16,210)<span></span>
</td>
<td class="num">(13,749)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by (used in) financing activities</a></td>
<td class="nump">376,233<span></span>
</td>
<td class="num">(99,558)<span></span>
</td>
<td class="num">(350,715)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Effect of exchange rate changes on cash, cash equivalents and restricted cash</a></td>
<td class="nump">5,253<span></span>
</td>
<td class="num">(5,290)<span></span>
</td>
<td class="num">(5,814)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect', window );">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect</a></td>
<td class="nump">283,697<span></span>
</td>
<td class="num">(66,651)<span></span>
</td>
<td class="nump">57,378<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract', window );"><strong>Cash, cash equivalents and restricted cash:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Beginning of period</a></td>
<td class="nump">118,389<span></span>
</td>
<td class="nump">185,040<span></span>
</td>
<td class="nump">127,662<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">End of period</a></td>
<td class="nump">402,086<span></span>
</td>
<td class="nump">118,389<span></span>
</td>
<td class="nump">185,040<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid for interest</a></td>
<td class="nump">88,398<span></span>
</td>
<td class="nump">70,888<span></span>
</td>
<td class="nump">53,842<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Taxes paid, net</a></td>
<td class="nump">4,134<span></span>
</td>
<td class="nump">27,212<span></span>
</td>
<td class="nump">16,945<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid', window );">Accrued capital expenditures</a></td>
<td class="nump">$ 15,046<span></span>
</td>
<td class="nump">$ 18,420<span></span>
</td>
<td class="nump">$ 15,638<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ChangeinFairValueofContingentConsideration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Change in Fair Value of Contingent Consideration</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ChangeinFairValueofContingentConsideration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_GainOnSaleOfRealProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The gains and losses included in results of operations resulting from the sale of land.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_GainOnSaleOfRealProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_ProceedsfromWhistlerCreditAgreementrevolver">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds from Whistler Credit Agreement revolver</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_ProceedsfromWhistlerCreditAgreementrevolver</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RealEstateCostofSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Cost of Sales</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RealEstateCostofSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RepaymentsofTermLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Repayments of Term Loan</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RepaymentsofTermLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mtn_RepaymentsofWhistlerCreditAgreementrevolver">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Repayments of Whistler Credit Agreement revolver</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mtn_RepaymentsofWhistlerCreditAgreementrevolver</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mtn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccretionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 410<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6392676&amp;loc=d3e7480-110848<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 35<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6394232&amp;loc=d3e17558-110866<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccretionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Future cash outflow to pay for purchases of fixed assets that have occurred.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4332-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4313-108586<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalExpendituresIncurredButNotYetPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.Fact.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=116825942&amp;loc=d3e330036-122817<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=120383193&amp;loc=d3e11374-113907<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109240200&amp;loc=d3e30690-110894<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=121605123&amp;loc=d3e30226-110892<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=120253306&amp;loc=d3e28228-110885<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4297-108586<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating assets after deduction of operating liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121583591&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3367-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income or gain included in net income that result in no cash inflow (outflow), classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNoncashIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash (inflow) outflow from investing activities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForProceedsFromOtherInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow to satisfy grantee's tax withholding obligation for award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireProductiveAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireProductiveAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a borrowing supported by a written promise to pay an obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromPaymentsForOtherFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=120395691&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109222650&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22499-107794<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=75031198&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 235<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=120399901&amp;loc=d3e537907-122884<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 31<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8924-108599<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121641772&amp;loc=SL7669625-108580<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22663-107794<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8736-108599<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=SL4573702-111684<br><br>Reference 14: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591551-111686<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8906-108599<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3000-108585<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=108774443&amp;loc=SL4569616-111683<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=120311839&amp;loc=d3e8933-108599<br><br>Reference 20: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=120409616&amp;loc=SL4591552-111686<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22658-107794<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=121586364&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140555773735464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 2020</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">Organization and Business</a></td>
<td class="text"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Business</span><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts, Inc. (&#8220;Vail Resorts&#8221;) is organized as a holding company and operates through various subsidiaries. Vail Resorts and its subsidiaries (collectively, the &#8220;Company&#8221;) operate in three business segments: Mountain, Lodging and Real Estate. The Company refers to &#8220;Resort&#8221; as the combination of the Mountain and Lodging segments. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Mountain segment, the Company operates the following 37 destination mountain resorts and regional ski areas:</span></div><div style="line-height:120%;text-align:justify;"><img alt="vrmapfy20.jpg" src="vrmapfy20.jpg" style="height:450px;width:682px;"/></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">*Denotes a destination mountain resort, which generally receives a meaningful portion of skier visits from long-distance travelers, as opposed to the Company&#8217;s regional ski areas, which tend to generate skier visits predominantly from their respective local markets. </span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Additionally, the Mountain segment includes ancillary services, primarily including ski school, dining and retail/rental operations, and for the Company&#8217;s Australian ski areas, including lodging and transportation operations. Several of the resorts located in the United States (&#8220;U.S.&#8221;) operate primarily on federal land under the terms of Special Use Permits granted by the U.S. Department of Agriculture Forest Service. The operations of Whistler Blackcomb are conducted on land owned by the government of the Province of British Columbia, Canada within the traditional territory of the Squamish and Lil&#8217;wat Nations. The operations of the Company&#8217;s Australian ski areas are conducted pursuant to long-term leases and licenses on land owned by the governments of New South Wales and Victoria, Australia. Okemo, Mount Sunapee and Stowe operate on land leased from the respective states in which the resorts are located and on land owned by the Company.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the Lodging segment, the Company owns and/or manages a collection of luxury hotels and condominiums under its RockResorts brand; other strategic lodging properties and a large number of condominiums located in proximity to the Company&#8217;s North American mountain resorts; National Park Service (&#8220;NPS&#8221;) concessionaire properties including the Grand Teton Lodge Company (&#8220;GTLC&#8221;), which operates destination resorts in Grand Teton National Park; a Colorado resort ground transportation company and mountain resort golf courses.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Vail Resorts Development Company (&#8220;VRDC&#8221;), a wholly-owned subsidiary, conducts the operations of the Company&#8217;s Real Estate segment, which owns, develops and sells real estate in and around the Company&#8217;s resort communities.</span></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company&#8217;s mountain business and its lodging properties at or around the Company&#8217;s mountain resorts are seasonal in nature with peak operating seasons primarily from mid-November through mid-April in North America. The peak operating season at the Company&#8217;s Australian resorts, NPS concessionaire properties and golf courses generally occurs from June to early October.</span></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI http://asc.fasb.org/topic&amp;trid=2122149<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -URI http://asc.fasb.org/topic&amp;trid=2197479<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>99
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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MFZB>O>6 MIJ="_Q+,U+G$XG_8,,CZ#_8V!Q\0+-?+W\7S4-9:QA=[F$E/DO
M$TW_0;"_,6K??5.[4\:H77>YE0+@6P'X_5Y!T@XW]C/=^%GV\G]02P,$%
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MM]1Q"%'?P0>8%#1\"!JV!NV38"2)2(TM V]245]O1?AXD=SM>;U0\-R0FZ:
M-J.X1];A*J"^,G?C8.$@3/*5''PE@[Z&K:^_U+Z^5WSMJ1*3PT0S$4&,D1*T
M(93DAWOPPQT9LY/J,]W'E;$[$:":@"D^9;)/B<4G5[.6.!!AQVRN=S#7LYHK
M:)T@;9G8WHN"9:MGP(LH*\4R7UL;_T_L^O46? (RX5B^!CQZ,EGG:=9-/1BX
M5"EB XQX'E(B$XZ#+0TPZ&+LFJ>$'J:$6J=D7F_%U:XI(I%LZQUO'24%>(C2
M/:OF8,/B^R9<)2_V]?R8YH1JYO4$RS]8YMLMDW;<)LM, _MZA8J\ILJB%0["
M)".#@Y'!7S!2*ND3\*E)HB_1T\G?J>] L]P- B77E@,@R3GH= S5L;K7<(+5
MR$BTRN0Y#A#MV1C@$5&&5C-J!C*M>K&X-D98TM3LFT\Y9P#2MT9SH&8.#!RB
M;+47XV#A($SVK:,JT,Y5/M;TK:;^8,>*)(^/5B*C6\BP$% UWY>#,-G>;I>&
M]FTZ+,M]3:Y$9I<->=]G@AHV#R!ZC(H8[ 3_.BRB+>HQX9L-2\7RDA> ;7=I
M_LQ8M<**W^QQU/?@*10S3Y4:F!N GAKL'ET^5L,]/*@\@=W6#^U[_PW;[0O1
M 97";S$[JZ:I*FOVWLZ#9YX'?0N?(M=WE$R]'HD+AW&RAQTI@'96L$@>DIB)
MSK3UQS6[H^_Q4^00Z"F<^6HL,!P!E#WJ> .T$X=%4C;+MUAT2@N5:9B#T5O#
M]AU0E=$O!V&R ]TN#^W;?$]'Y!M-U;=RZ$/H>5BM-QU(/"7+%B9M:E$:(!!3
MXJF$R@"<BO:)J@FCPRCRJ,JHKHWJ* JTQLADH.L'!!,U?#H05?\%/?'KN!"T
MDZ&7:HZ@@08Y(K98G<)QN' 8)SO<\2IH)U8OVB%!G1TAA+&C1F\()A]&="P*
MV5G4#^N2D(%P(4R"GME''>%"=L+U4HT2TDG3%!/DJX5MPJ' ==1T&XE;FG"$
M^J1G7H[.E>QD[<6Z):2SL[XTZY@9LC.SL0T3TJD-HF)Y5_G!,$XVM&- R,Z
M7J-I0CJY@=0EVE'6$$QVL:- R$Z!_EKCA'3B@OP .7UF=+P%V7G+]S5.2"<A
M,/#58\"+<;!P$";[UE$:-'!RT9S05S/+UFNVXG5C$<7YKO90Y%#!'E@FRK+D
M41:+ML3HJX$#4!>JE&(<+!R$R;YVVS^R;_^OWW0A?6.ON!'6CL5UG';F;5:E
M==C#0\JSUW$)9.<2W]UQ(9T03'W7T3JND;AP&">?G'<, ]L9QKB."^MT88H\
MQU5Y]M588#@"*'O4,1!L9R!_O^/"!@X L>NIYZK#.-F%CBS@[[J%"HS&ZGP
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MY__V5)ZPAV@DQ=:E$)H[9PAT*.IYBIK(J.$*95TM3TE]X!*C(<TOJHH4QBC
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M.V[#SAFPG$,%;@MEW![PS1Y<="D;[H,FX1 !B$DA>-(8&P3Y&*<+R$Y=FV;
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M)P4,B;+2R*73\8%18,0<O+D% --W<3X$Q,;DKA2%ZCA-J;8D+4_B&B+HHN1
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M CQ?U'7KON "_J^ O?L_4$L#!!0    ( %*!.%&\W&D-%!(  . T   9
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MTPPZ2.;3)=2*-V.G)^)S,A&S:3)/%V*Z2&8+J'*R2);SF9B,Q\EDDK&JE]B
M#U]I<D%QL^E*I%/,P(Y.DN74:_N*TJ"/#%),4[*0"2;-YZ2L;(E/4+^=]]$V
M)\_W:#5;8BL7-#QASN83_CP>@WMP[2?CSSO;-HDI8#NF"[& .B;):KETHR_6
MF$/3XZE;(X569G:-%)]G$_$JZC3;8/XS@=T#G/E#U&MY'_5:/DG*ZZ'M='EF
M?^,PWG4>+9JF!6XT<V[TT-> %C4^AA-1#[ZC\T+$V,\PRJCMYI_8?OL#BVD;
M9$=94A#T'<,&T1$E)U*?Q>?#'DD2=ZP&P5GF&%<R"B]L1#/RD'-NO"Y?7QD,
M#H]N)4*;/&^]M>5_WT(+M-6:].2",@\$9-);=QP1]H1*U*^>0%$ZTQ4IQO7%
MPK6-47^?Y'5>DY"F?U)7^1J)FMO _@Q5E]P>]EN;7Z(OXUH;^<G:HYLI^0P#
MK):=O6A1/EB=7C? 2.W1R8;+B/Y@=Y^?;((GU-J?]ES@P;45C;;]JE6Z,LXX
M/EGAU!_+S:Z7(T@_9-ZV*D^^D/G>X]-H]7"E8UCU@U-*H<HC+!T0:(R&_9D$
M'S:<G2D,;L[8Y3SC 7WW97"DY/-!\5V3)+@^U]+#5Y$74V^3X\#%C8[A+0BW
M%O",LL>L;VU98\LJ$C*'"9YNV4G<I2=7K,D_D ]NV0!F%$6GX]KSK,<PP/?>
M3P&/2G7T>#IR5>I_A>[C1G5$RE5]_K0V*OJN'-3W?%$=9'9@Y@EW7YN\[> Z
M1^H /LIF\]$TE NDP$>3R6RTZ!\Q@2%0<M!J17'/$*"%"]:G;_*  +6-64BX
M"ZLK,_!\NH(4!G[%"J/^ $N29FE4^+ D:38=3?XM27Z,0.9UC!F78W$KXJP6
MF\]'L[@:"U"6:HIC'O)>Z;?Z9HRY8#]=<9/E7";+VI'O<A)#KLS6<N_*/0K9
MRITJ^6-4=TH%J;NF/T6Z%6,@RHTMBM/[16E(X@[UD\XMC(^R!9Q$MF=I(><C
MF%)&8=0E ^[1^';7\-R%3G8:@I]<<><U7^X8T.C-TUG0>!X;/ED0@%=L5/^"
M!7WPX=W>0>PO'6K9I])U9:, *9+O:H"MRNQZ:[@%EWS X K/G8AR=41E:[CP
M1$\9C'AYW#&*S0/]Y2MCN]14R5*:XVU=R_9(;;:J>5!5X>\DQ!F8KQ!8S$-'
M0]'UQ^$YUM4%&5;YHI(X-TDDK*;8KF58:<VGN4/V29&EK*%N+<LA;1VNNUPY
MO_P)/EMI>P*I#+7^!U<QKIOA\)+3U81!N._(KD)N5*INW=(=FP !4!#5)U-=
MV+HXZJJ53[ #[LX/G:@Q/_:^$1)$!5&H"N>[+#3?V%[E>V[A!'IF>'777&]Q
M4N")>SLAH5NX0/V;RMAC-BB*+9&\D!&#[1GYYAPEY2&TB$X-G>(H^MCSI8*<
M&794GRZ#)UU5LR?U'H=1J+!;X/W\9/>56/H>!',C-CZ:#.-QX77I1+M9GW"(
M"!%I<.D&:5]SP\(R?./6P.#0T&%B\8ENO4>)\SLWAF\BV7L?-UMN.KIF37#R
M;,^N=M_ZB'MVJ>11FH[&06\)Q<K1?!@JEU&J=3T:ON%,^CUKR']/VV883T/#
M\=HNA#8'S?55>'])(]SP^)Z-":>YP\/<D?AS:"W>.D4/(<>F47*9<$A]>;@M
MZ]!*= Q^[^9'X:I1S9.;SFBK31\3&6F0H9:)/Y,:;+)#!8,K%^=7"D+OC4_^
M?88(83S >EK9MF)=+?@+VX*5Z?]K \^.XT?7?B]Q'_WJ!!)L^;<UI&WP8W^
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M$^L&/L)EQ7R-A[75/#)A]2W%BY+SH:4FG\T!O [B 2H:U"=#BKHOC4BON#B
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M79N2?VYP E>6!/!\94S=7= &_2>FM_\#4$L#!!0    ( %*!.%%?X%J[I@8
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M>!>\K7D[NF<M^XW7KR?!=')R2_DZ&@:3R;2N7L>]8#28W%J[5*"QN("2=S"
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MS%>BJ$"1ND[DN2R.G"B*V2M9(VA:"SHP#"1>@B^V>4X&O@G8IC[[0TG<.^H
M%D)6WXE@P\")@\1)0I==%D6[;FVLEAQ 7 CKWF?$/G/2T&//Z2+)(L<'P7/V
MX;B7:\3)*?,=+_.=.,FP]L %Y[HN>ST^@=^B%#3<85LHONJBX[X8B"H;'H#L
M0BIZW@( U#2$3/ H! UG=SQ7#>,$$O<"Q[&A0^)BD3(M08]=IWX8S#R@8571
MB0YN>.XL&6X0P:F793-_M <NV'!3 JJ[F<D%&[T45CJ?5[RK2^(;/*J_,U7N
MZ[H0M4E"JRL,0ARFRG5:94].GE.ZF<(,P^+M@U0*$5M^VO\\)8G@9^1#_W,H
M?9 Q01KV/T\)72\-G"ASA]_#88NT23*?8C:*'??I >MY2(B,S.'Y"3+/W0=P
M2RG++6+ L!! R'HIR-==B'X'@/W1<QH6E"=)Y#MN[)MU[ , XJFJL'4NE#7U
M,SR/TQ3Z_?,?J>_YOTYVYFNIM/C6YW+B!%%H$KE?]><.^CL)$(KD,X<3:KDQ
M !\MB0"N\5\JQ/H^I3^IO$1GAZZ/TCYP'=<E'KX7.9D;L?<(?L5"L 18F;B(
MV2?*/+8T?A>/GP#8--1^E#HN(/2PGGX(X ](SV'UN 8#9(6QDT6AT2* E5)V
MV3&GO8\H'I"]*'I(12RLV@D*4>*S& &%:C)6.S_*&AR<+$6XPR5Q&!_1&(;U
M(@J"9T'LI &!]5&IK;(0*/5]EOBF\DS=<5^6 /4H#E' 0)2@SMG=^4&)D(!I
M8HH&2F044JQ9DH.&#SPX*XEIY<:HJL&@PKA.&(1_*%[3SK\ B('F4SG^CWH0
MSZ)Q-4AFX;061+/@0"5P+##@O$:+M3$.Y)I#V WP[=;<@@BGX8A#7M=M7A$M
M7=QPA>%E5\YJ?JN!_S=0'YTDK&CTL16G6,$6G'S6;=6HBDK=$2K#%BV@;H)9
M *?"R#3G>LNYI7H%A,OK.X,AR:^P)U]:?'G<@$/-H78F/PQ_[T@4#'3LK2R7
M)-P4>_H6,]=C_J8RH2=S$75I0KT<8C:S[81IU%)*"Z"X16=S:M]>KE$GT7R9
MR@'D%Q(Q6G[!]&,T>\X\@MDP&X"SO_YML8 G374=V1:&P#!68WQ2BM?%'0+2
M/F4*UL3!U&3ZV0B(=W<.Z)8Q2@V4/S?I]=IA[@]K%0!Q8:I!J^[ZDA)E4CH&
M.8<2LEO]H TR)TRCL0GZ&_LMT)>9&*#E9A8V?<^;U"$K]YN1W)]V\;IKD?('
MZI6M,FU8%[Q[8Q?JG?KI*+/1A@J]0L%7E-"R-B97O+2==T-YO)R$K>$0W>L3
M#V </7ID.!I8CCB:-.\'I(F*\ '9 8!]@QX3J38@CNW.\*1=;ZSD^5RVP!#0
M8G/5#@TW92V]@2#1>"G7:#(-.N'@!KX6"U&0G&TMYPU7-UT]V;0:\',)MH1\
M;66D-D#R_O.;U[\@M.$>U$51&$'H"0D.A!::K8 2J[RD(_9A#QDHMT(_P8?.
M< !5B(* K9"U%G7;M:5T:"?<(!-5AM9,:;O#G+$P:"<U5S &8?<*46L.&.!\
M9T9B+>"*5[*2Z 0DF0/UA^IH2W*IO$8<*6W+43&$+=TC 5OT)";FD%[$IP?'
M#H!9+5DED6&*<HUS4I^V#0AOA( GRM) A2TAQQ0I$'V$PL2UZX6Z&OI#FFPY
MC%A+.ZQ0V4)\3 )C*@WM0E!]N]?%C@L4S7K3.OEX?MF7 /LTFF12'_-&Z $Z
M.NL_3*\#\4FSN*Q$:2+A&O:P8(S#WG]7Y,XF2#;J%6B,_+D!9A/<6 __\NJN
M$<V0%&!(\@^G=9E1Y,V*+6PIS^FE WAW+0P&NN=6^C%$[+"G;4R';=B7:%BH
M\E->]AS96I:\VLWZ^ZR\-:\^R9>V&8)JC3%R/_+WG<E458<0]DN' SL->HPP
M,4()82J6B3LEMWKE4%]$ESM0/(A^S]YR='DL>#[@X*<]\H^QU\3;X .2 Z"$
M=H^M1*.E$M31(73,6S6JDIUG[FNF\Z\&TVKJ<@MCU6Y?00[<\OPKKVD'Z#M<
M,]6+TK Y")/#&Y:'),;$TP C*XB"[P-_A-0N>YP#J=,%\?'HI>)04Z33!P 2
M: "'4;U_\/9CMF]6[^S4 /OOC/=,72P*U8)))?*YJ+"7?]?4;D:^GB&-?1'F
MLXSF]2QV@B1AK_F"HX$H(>X-KY%5?A2CA_59$-"[Q8PF.2- @[9("7IQM<V7
M7=$N>V+2!"./-0V]!D!G%J%;1$_<T\]YC;&6WK@$:)A"1J_S,CK?F  S,^;P
MQ&5!-XT.#K9O7,?J8VZ,P:!OW.S@:NR45PV+$G3&.-T*,<Q^3[,LVKHL,P*@
M?4<CGT;)/D])<^0N07_0.1^4N*'4!K3,=[:DT;][-[3@?/ +&DTWZD2C*3M!
M^_]7O<AOI"EDG9WDO!)+0VP;-'2LD<?0W;L8A-\?$=N+ _2_,2:+$%-Y/V(?
M4_24^8GK^&%$JS2 3[Q]7PG.1M]FUEPMS1<H= 7D$/N99K@[?.2ZM-]V=MOM
M%[)WN4+#T4#5!4C=61*=,&6_.MD++3?F2\]<:BW79KGB2 !%&_!\(:7N+^B
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M6?WBDUZM2WIQ]>;55J[4O2I_W7XT^'75K)+JC<JM+G)AU/+UV4WX\NV(QO.
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M4-HU/1SI:'/H#S/)8;M'4&^1QA';>JMH9J,-!1YQ 8&XX#X CD'PFG UK&&
MGBF0/83-(61 ]/[BX2"<!H"01!%LD4 4@$$.Z?%=;3>S-$QP(4!T+=1T$VGK
MU2P$H]@!+^6F5O/'E2IKUSILBR]0>/[6/7__594]-0+LY]4*^.@N7!!V?;?3
MQB-"W19-[V6,'D"HXUK4\X)]M&IKD !'%8AAI[?WLDI8,?6ZK:&C:%UM['3K
M8(0HH)" 98L,C/1;&$-,@2N @?B*HCM7>JK H&B:BK7:LAOEHPF9> [QM='-
M0!0=<UQ(54:Q=(Y;S>F!Z;$!UK9'RJ&&.]!YC/AQN2G:M2O_LC ;9Z4;$+(0
M(><+Q+BZG%GM0.2"5J$? 4100ZWUAGGR:&%>73EF_C MNQZ7&;*X1F3*PNK.
M)>3!D#A0UK"E LZ/\8?\-O4?2.9IT&#"++EDS9' (Y)W#A-BFT:7$^!TWQ&G
M '*S"@=G3#O9J<H!Y\Z/:=*]^IZ>W"OPD_*>)GZOOA?3WO8MB\8Y]PP:']RS
M9W'$%=^2/9]W3_[\X2,^/XEYP-9-<R"]@13'?=PCW^?/-R:E1IT3<;.BHNV7
M6D!7%)-[EZC$@>RIN'H#[Y#N 3='B.%$ FIG'75OL)F.&/=[W V=>#PRB[*D
MQ)&/.X"_Q!;)S X$!7IPTHMR,WE!JMT&6""=KK\",X'.3-G5-[Z0/J'E8'+L
MR*[]@8K\NYYQSN5!Z=6@=#&V;1\TPG)'CVK#OJC]K,;J65MYLW]@TV9W:$LW
MM- %!W-F>^AQB<W+R]'<0\5T[J*F>X,9YN(Y^Y<J.G^08#@&[*=C /Z)G/YE
M[-,!3\_9C_7*LF<L%R$/<H&1X$$8<AE&&&=9P&4>LFMTACC1:ARP1)9S$0HF
M1<R#)'#7N0C8.^ !AHDDX&D2XK;@69CB6O HD( L"J]94O> *,F4Y.8LE/A-
M4B;SA$=)PGYV="C2E(N8C(UY%D!6'O$L%NP736L?Y '!4Q'P*,)DGL<)AY]T
M3TJ>2SG5HXPR'HD(,8EXDD@F,_QBC1?LN\\3L7F<03<LY&1S!L\D#X*4QTE\
M5(:P,$I9BK-<R/,L&T3.95%D\R3D:4"1)7F"QVGLQH' . ZGP\F]HCX</)P<
M*; &\]TXS6%-ZL8BE+ CF#D<<Q'%<#3!'#@<YSQ!5HX<OL\@2%F,%.091G&2
M<"%SC,)<\BA-YV[[O0Z R"2+>1(@HSR.DD'^HWV7LQ7YYF$6N'&,6*1AYL8A
ML!#(D/W@&.P1YJ*H!>1S["3$(OX^N7MC2462!T,Z!O50=T+&1P&/@X '3E&2
M9CS.*8%Q#CE!/(4:)9, LAD7 6H-M1$D8X#C(.1AE+,T2* Z8HG KQ!'^#F/
M$.6,7= @%"D&>7S(T_$^\8Q%><[!1!BE@>1A2I%(!*$R\U*'T\=&-;Y-=4'T
M>_(4%11] K20,R) U3MY$!QF!&TZ?J$1F+C_T."PPEIP:>]I#?S[&RJ;36>W
MCVVYH+L/VO[<D<_3Y< @U%](2 ]AHTC<"(C/\NQ;HEI8KUO;@:@=35,SK&AK
M!4M(, *((0R1)\ ME'-!(LA163&8*>01F"^"5HF95YV^]0WQ^8UJ<>BP%[YW
M'=;9XBO(.$4N,I;&J!/)SA,J2,KI1S_G1B$5[B3[!%$"((G@>(@ Y"";, (&
M<\G>*32%Y9 7MRMLJ;W_P]^0$<@ NJ4 $ $C&40H-.GW95:C-ZL[WR<"J6'J
M-T$A7TR_YU1V%U/;@),B.GODT3627Y7OM8=#HFM>?56=9\[1)(G A EVF[=3
M_[N"2D:;FO(MA-M3E>OJ?=OM+3\'56/U!7@D!)N=8_N((Q>[TQ[M5#5RB#I$
MY6 'RQ(:H+(C6OL!X<:6SLJ^P\93[B>W'![*H55M=-$:JE\"A--*$4^@V8-F
M9"VO3J"(4Y0*,!CE"0.A2YG\J4*=O:6:OXR:[<[.U9'RZ$A9#"^XB.)V_IQ)
M-J&)6!^$=6KML-&Y_F?E>I6G]0ESU2<]PZ^+ZX7GSCA&='RCD"74 TA_'Y6%
MHO%1\^^R$)%S<8'"37D:42EA$Q*'DOIS6^1D[-7WXW+P83(_I1TP]R:'Z%&H
M7N^;'&$?S;.4153"H MOZA,R098*[)-)FOL(19)C]W!"J975;;-WY[/;NNI=
MNSA7[3I.M*+G]0*]]- >4S-+YE\0KPVML./TK7:M+KIT$?SUL9=L#R'I<?/O
M )BW:$>K8C'\CAJ5WT>>21DN0ARGP*O &&?/PB!;B-D-DOHLE&(13#?=YNW-
M&%^9[($^P]0#;2KW"2,Q#GB<>MV=<I\?FOWAQ<LSF8M%.NGP:D6^B.9JGY"Q
MPAVWCFT8E.<GRA</O>M>SKX>;%6W=M](C$^E_Y PW9T^PUSZKP^'Z?X;SD]%
MAU;"X(RWPM)@D<9GK//?1?R%U3OW+>)&6ZNW;KA1!2B4)N#Y2N-D,UR0@NGC
MU.O_ E!+ P04    " !2@3A19%TH[=T#  #P"0  &0   'AL+W=O<FMS:&5E
M=',O<VAE970R,RYX;6RM5EUOVS84_2N$L(<$("2*I+X*QT#<+%@'=,B2M<,P
M[(&6:8NH)'HD52?_?I>D[3A%D@UK7FR2NO><<R^/1,YVVGRQG90.W0_]:"^2
MSKGMNRRS;2<'85.]E2,\66LS" =3L\GLUDBQ"DE#GU%"RFP0:DSFL[!V8^8S
M/;E>C?+&(#L-@S /"]GKW462)X>%6[7IG%_(YK.MV,@[Z3YM;PS,LB/*2@UR
MM$J/R,CU17*9OUMP'Q\"/BNYLR=CY"M9:OW%3SZL+A+B!<E>MLXC"/C[*M_+
MOO= (./O/69RI/2)I^,#^G6H'6I9"BO?Z_YWM7+=15(G:"778NK=K=[])/?U
M%!ZOU;T-OV@78PN>H':R3@_[9% PJ#'^B_M]'TX2:O)" MTGT* [$@655\*)
M^<SH'3(^&M#\()0:LD&<&OVFW#D#3Q7DN?E=Z(]<H5\G89PT_0.Z5J,86R5Z
MY!%GF0,:'YRU>\A%A*0O0.84?=2CZRSZ<5S)U5. #/0=1=*#R 5]%?'GJ4\1
MRS&BA))7\-BQ:!;PV MXS]7Z88P.]U:Y4K;MM9V,1']>+JTSX)V_7N'E1UX>
M>/E;-OL[(='9IU%,*P4QY^@/*4S<%00]?3CV%)VI$;E.3U:,*XN1O&_EUJ&M
MA->W$] &,>AI=/8<74]]'V&N]61<=^!%OW7*'%6@.]GJ\7%ZK8QUCZ':@;@1
MOCA&?I7C)-$/*,=-R7!%.(RK"E/2P*!L."9U!:.&<ERR&D:TK'!5$=BO5@\2
MG<$^@:RUT0."+Y4)&VA]'&68U1[E+*\()KQ$YWXYKS%E%$8L)[AB+ 2P A>,
M0, O($H]009II,&D*$)@48'.(B#E18-KE@?,"I.\#@$06]/F623AG%'+R8EE
M+Y'3Z+-0/;J55AL'+8=Z4E]H#:!15,%P2>H]%\4%5 !<I,0,R@]<)>:5%[,0
M5K6AH4\93_;OOW#3E(<J65K30,O2RC>P2'/?L#.:EAS6KU0_><>]!1_]EH\'
MOF"# ]_SILV;[S!M-.O>I-&<SYF28EKEN*A\5R@'+Q*_!8TW07!ES1MX&EQ)
MP6*@^M]<R:L2TS*Z$E**?>&<POXV'HB1'-<\>HE6L%B\X$H&_N9-<$I#,:3%
M#I(Z.#F:LFFB4;S3:?G_3>E%Y67@JJ%B&E\ "KPYXP=3\E@5@=>S>4-35FGP
M/9B!QEY5*2V?FK)\2U-6*:/?\ 4B,.4)WW.'079R"@_2;,)=PZ+6FS >R,?5
MXW7F,I[BC^'Q+O11F(T"P_1R#:DDK8H$F7B_B!.GM^%,7VH'-X0P[.!*)HT/
M@.=KK=UAX@F.E[SY/U!+ P04    " !2@3A1_-[P_;<#  "H"0  &0   'AL
M+W=O<FMS:&5E=',O<VAE970R-"YX;6RU5MMNXS80_96!NBA:0-#-LJ-L;0-Q
MLL6VP*)&@FX?BC[0TM@B(I%:DHJC?GV'E*W(V3C9HNA#8I*:.>?,#(?D?"_5
MO2X1#3S6E= +KS2F>1^&.B^Q9CJ0#0KZLI6J9H:F:A?J1B$KG%-=A4D4S<*:
M<>$MYVYMK99SV9J*"UPKT&U=,]6ML)+[A1=[QX5;OBN-70B7\X;M\ [-[\U:
MT2P<4 I>H]!<"E"X77A7\?M5:NV=P6>.>ST:@XUD(^6]G?Q2++S("L(*<V,1
M&/T\X#56E04B&5\.F-Y :1W'XR/ZSRYVBF7#-%[+Z@]>F'+A91X4N&5M96[E
M_B,>XIE:O%Q6VOV'?6^;3CW(6VUD?7 F!347_2][/.1AY)!%9QR2@T/B=/=$
M3N4-,VPY5W(/REH3FAVX4)TWB>/"%N7.*/K*R<\L[XS,[^$6FU;E)44'ZXJ)
M>6@(VAJ$^0%FU<,D9V#B!#Y)84H-'T2!Q2E 2)H&8<E1V"IY%?'7M@I@$ON0
M1$GT"MYD"'3B\"9G\-:LH[UD--!&'L<KM_#A2\M-!W]>;;11M$W^>H4N'>A2
M1Y?^U[R^ 5,RA2<P2NX4J^$W 9\8K<&ES5 T\\&4"->R;ICHOO\N2^*+GS2L
M)%.%#?&&*VH#J32PIE'R 0M@H!VX>@)O>G ?6&M*J?C?7.S&N&#DV+QM[,+$
MCZ+(_L%GQBMPBG5@!5().XAG3F#VS0*YR.ETT:30.AR5,-?#FPX8=7)1<#ME
MU<ODI%\0J( ;S+'>H(+4:HBG_X^&V)]^K<%M,T;Y,61Q"G":1-V;$WV?SHN7
MT *X:=6Q&!TR!6C;K,_PL4G@)+P11P')=.:G<78B\ =F!H&YU,9*>)?.@I2.
MF:JR0G_\!MKX\CSK9&K+<_$V:S8-HG_'FIUGC:G.:9*\S9I,@VS,>D=51UMZ
M;%R=R,:47(-VK?QUF]!7)=M=^6H5R.%$W<R/9[$?I_&Q\$[949-KSD=.EPT2
MY+LT2D?E".#*[9/G=+$_F61^-KT\"5FAO9)MGS_0*MM4^+Q[*:G*:<5'KHU-
M^/D#85]R.FML,$*2?<-5OY<+4AJ<\#Z%2B/=,F$LKZ5Y(8-["@TV""56)%2#
ML5W7JFY(#O5QS3IKTEI(VU1<6]1\',#SCL:ZJ62'A^8"MK<-WM !'+QTLH>C
MV[-&M7-O!$TU:87I+])A=7B&7/6W[Y-Y_X:A(WG'A88*M^0:!1=TZZO^7=!/
MC&S<7;R1AFYV-RSI*87*&M#WK93F.+$$P^-L^0]02P,$%     @ 4H$X4<#\
M,I67"@  =A\  !D   !X;"]W;W)K<VAE971S+W-H965T,C4N>&ULU5EI;R.Y
M$?TKA.,)/(#<[FZUKIT#L&=GDPVPV<$<NPB"?*!:E$1,'UJ2;5GY]7E5[%.6
MC,$8"9 O=JN;+%:]JGI5)%_O2_/5;I5RXB'/"OOF8NO<[H>;&YMN52YM4.Y4
M@2_KTN32X:?9W-B=47+%D_+L)@[#Z4TN=7'Q]C6_^V#>OBXKE^E"?3#"5GDN
MS>%.9>7^S45TT;SXJ#=;1R]NWK[>R8WZI-R7W0>#7S>ME)7.56%U60BCUF\N
M;J,?[A(:SP-^TVIO>\^"+%F6Y5?Z\?/JS45("JE,I8XD2/R[5^]4EI$@J/%'
M+?.B79(F]I\;Z3^Q[;!E*:UZ5V:_ZY7;OKF87XB56LLJ<Q_+_5]5;<^$Y*5E
M9OFOV/NQR?A"I)5U95Y/A@:Y+OQ_^5#CT)LP#\],B.L),>OM%V(M?Y1.OGUM
MRKTP-!K2Z(%-Y=E03A?DE$_.X*O&//?VDRO3K^)=F</+5C)0'S)9O+YQ$$Y#
M;M):T)T7%)\1%,7BE[)P6RO>%RNU&@JX@5:M:G&CVEW\I,2_55D@QM%(Q&$<
M/B%OW)HZ9GGC<Z9NI5'7Y,*5^" /B"PG;HV1Q4;Q\S]OE]89A,F_GE@L:1=+
M>+'D^;@^+>B$$/%YJ_BM+ YB*ZV0PI)M0NZE68D=#;ER&//G/\WC.'Q%<_@Q
M>O52[+<ZW?*LI5+(BMW.E/= 9'D0KA-+PZ/9*RLLV;$MLY4R-A!?X%K#XTCF
M2%0[X4J1! E",\M(/U;$BG(MTC+/Z04#D995AC64T-966$T7+(5(A<:6.S+.
MCNK1I)1*M;?84%[A$\0ZHU.'V7Z1QZ]$56@:NE.&Z:I(53OVT;MF\$K?ZY4J
M5D+]4>E[F2$4H+\1)10T?F@=- RO)8M5OLO*@U(\':JZTO"<%$: #B2+6/<!
MI:]8#N2WM'JEI=&*9\CU6F>P5 %=<JM3)N>Y]6(;Q"?95QTAKXLTJU:ZV CU
MH$RJK1([0*%&XAZ@T'L8K$LH#<LRO<8'LMF"YGN>;L,*/W+MG%*-VG<EA1)^
M_-C8%XC;+#N%QY5Z2-7.D3,?.XG7/^VGEV>,0W#>(Y99:U8'87I0$@@'H!CK
MFG7)4&% >LL,\-ZS! ,+_-A78EON%=XBJ,I<>:$<\LVJ>^VV<-]ZK0RE?X,;
MU;U5E9%#?O58U.NAI%FXED ?B:(L3LE$;.#+=1L?+3AN6\)%9X:)7.5+9>QY
M\(^BZ>419/"-$^#+0\N78N13^T&C<BGZ$,3#)!4#)^X5\<>]U!G@5*3@4IWQ
MCP_4M=1&(%TJ]A'G[36BRV7DY'-9+*YJ2OIT^]&VE-0L4Y."]Y^B*O+(ICB,
M%AQ2>)A[I<EM9", \_-7^$$ZL5A167(JHDDZA_RH0]<3#NOO]<O+E<HP73K2
M.Z/L9->#KG)/3O!83TG',"VIJ0'X1]*],"(#3;P)K+P3;07J!?.V*;M4""%=
M(D;))EX,"W?1LX?#NM%$4.[0> R:=L$+"(A/[FLW86FN9)7,NC3:'DF WO81
M,,>J8Y95C0%>36TQ"L"O,_6@@<)HP'/=5.WJ,)+X VXQ"'.D 0<V <_D-3 )
M\*,BB31#KJRNN3C<91*!]2E%"5+6:Q>(.Y7*"FI]BT\M465I=J6AL.!J[_FU
MYUEB+EWL*BH'/E'K<90F*VV]0H%X_[!3S&+W)98&;T-UH%$O#^+2B'P0'5#O
MC1BF[K"R!H-:#IML7P@B67*YJ4-\ %<;%YYC6RZA"J(+Z2TCCJLC]@B75Z@%
M.\F@;$Q9[1B4+O(X$YC?K 9M2-/7ZU'\,E"-YXD :M%(7L*V6WI7P1.V*7:J
MP9-TYO4'X=#R@D6?;31U*6M3YFP-R!C^:K ]D\Z^]H"%+!=U&EE719J'E/%F
MGEZ53.H4Y$#N58!7+(W#1&R@6N&Y@$H=&@#K%4V5<=@7G018/6SU4G/%Z=*X
MP=/#8[3]>KVFDL9N(B2]^@._?DNN#Z*4/GY! <:O3XXZ#_$9VSE;F8,X:(4V
M+:T,_ [Q"GJECIB&*8\ :W@U$/\ 3?M>_XBEF:.9GT_E2[P(9B_$>!Y,7X@D
M#,(7W:BF$[,B#N8O\">B/_T1'"=7B$J##2-IR+7BI9@&D^M9$.%_>#T-IF(2
MS/$_$1^'"$9XS0+C(,'#X@7>Q'@8OQBD(:I6R0SK007N:Z5=1=V,49FLXZ$J
MJ&/H*FBU [8GLY *1+WI9>;9;(S:D#Y4!6L'\>Z4\#GJA22'S=-ET--RNO6<
MM:H,!5572?%4U.4485!G W7\'+!7'$9E92$#]%>W*\.FTLOOQ1E9]_('<>LM
M_YVWOF#LV]HQ[YO9'WCVH^\?%1T7D);O>D(_DW-O6W!^QA<-1DG%;]QE_-HE
M'T7D;;7![E@P)M%,Q*-X$8I+,5D$V(G^I<[A^12OXO$LP$.CU$I<1:,P68B7
M^#9&6S01/WD/4WH8RGE-''8UYA'1#!$S/EZ]YQ X(!J-XP1C%U$01MWBI$^\
M& ?SN+]X'/FEDT40+LXL'24\!(4BF,R?6GN!M:-91'I&4=_R*&'3DTD0#TR/
MDQF+GB)=SJWN]8LG<3";/+$X(A% 3GEQY/-D@;0+ZYB[%+/):#:>BM_J'*$*
MU2-3[MU/B4MB%H<DGF)?N3@65UO"S=>CZ7.V.0KGP6R,R='Q9,KQ?1.+#8DP
MFUUSS]AUDL/FEM.T*0N/TNN;&E6D\>5D3K$V$I>+>5!_O)S-@W F>"=+X*"0
M9(=Z(U@ZY(1NDV"HC6H]^OWZC,E=S98 :B51;XO VL41@K<WY+&6W2G$"M$_
M"D-:*QK[)Y(131?\S%ISM:U9\[OT/J&";?=GI(.L<3OGRLL8U:%G<S0YMCE"
M)'=OW&!'T6P1J1(_3_%!02!1R#%7'6_SVEX1F\4:-E\R3A2%)TK =U6 'FXR
M+ROT3T\0/K/.]8\$TT\T[R1C'_'6=([,G(?$,4/2\GE2$\?5(B(RFD7!9-:C
MJZLYOUT$\5C\O07G$2/$T82X;A$DD^^'_/3IQ?^+$\ZA0RZ(?7D,@RCLJM:X
M+CQ)2]Y7T[&O1E,BJYX3HBF_1TNWF#WEAFC,I3 &,<\&M+%I%V62.(/T,9*G
M$HX/<^1WT?ME;6UP4K7I_%FJ >9GJ39-@B0YH]IL]CS5YL]$;1)$QZH1!T_'
M31T(XZX.A-%3ROZ7*H,7_DV%(4H&I>X2P3H_JH;C_TEE.-GPTUFT\F4[GJ M
M:M0@\F*[JH)V+9M"_UM1J]X[VJ6VJZ CC6[KTG%;_SAW,$MV%R/G#Z&QNK].
MH#HZZZ.WZ+46OJSVZBSM@VNEM#W>8_?,.#X/)(#[P$0,9AS78*(4#,$<^4,>
MFE:4ITZN*?Z.#A_7%6WTJ!U>-SQ7]V/R >H5:JT=%I$9:^B[YJ'Z]2<^ #CJ
MU8[/POF8U,=H[0_V<(0=Z:!)F?9^^[9QT8/[^3'W^#YI5V8ZY4KIST\!!-V&
MR HURK!]) RJ^^N<YM8'BC1'"<V]2W=1T5P(I']4O,]8'N@X".72J@9]NFL6
MJ-%?E1L1H!2,=GTX<^X5G+JGN^G=A>;*;/C&U](%5.'\M6C[MKU4OO5WJ=UP
M?R/]BS0;--\B4VM,I4[EPI]C-S]<N>.;U67I7)GSXU9)Y @-P/=U6;KF!RW0
M7K6__0]02P,$%     @ 4H$X4;;;>E2E!   I@H  !D   !X;"]W;W)K<VAE
M971S+W-H965T,C8N>&ULK59M;]LV$/XK!R\;$L"19>>UB6,@23LL XH:2=-^
M&/:!ELX6$8I422J.]NMW1TJRW379A^U#8I*Z>^ZY%QYONC;VR16('EY*I=W5
MH/"^NAB-7%9@*5QB*M3T96EL*3QM[6KD*HLB#TJE&DW2]'14"JD'LVDXF]O9
MU-1>28US"ZXN2V&;&U1F?348#[J#>[DJ/!^,9M-*K/ !_6,UM[0;]2BY+%$[
M:3187%X-KL<7-\<L'P2^2%R[K36P)PMCGGASEU\-4B:$"C//"()^GO$6E6(@
MHO&MQ1ST)EEQ>]VA_QI\)U\6PN&M45]E[HNKP?D <ER*6OE[L_X-6W].&"\S
MRH7_L(ZR1Z<#R&KG3=DJ$X-2ZO@K7MHX;"F<IZ\H3%J%2> =#066[X47LZDU
M:[ L36B\"*X&;2(G-2?EP5OZ*DG/S^[12XL490]"YS"W9BD]/!3"2KV"N1+:
M34>>#+'X*&M!;R+HY!70\00^&NT+!Q]TCODNP(@8]C0G'<V;R9N(O]<J@:/Q
M$";I)'T#[ZAW^RC@'?V[VS>HD7QV\,?UPGE+9?+G&P:.>P/'P<#Q_QO7_PP*
MGPN$6U-60C? E]+3GP/!E4IH.624&"L7M8^WJ@>L2!OV/6G_\M/Y9))>;AEC
MY' ZOCP8PK=:*+F4A%53=BT\M!?L.!WO/QV 60*CW&F/5@L%]_B,NF92.0Z!
MV@APL!^3AP2PK)1I$%T"CP'*%]+!=X:'W\F"L BHY$HN%((WY.43P@()&0^]
M>-GQT $18SI+:9V'7#0=OTPHU+FP4'*E$B]%_8G#R!^5(/(D>0'[\H!/I&T)
M!%J9*>DWBQQSD@7R:E]&T7A BP9\;35,QI# 7%@O,TE9(=]+8M&31*@K]F*<
MIC^WW,A8C''#?(36M&&;U(B="*&.*FRL_4H=099U":["+.9FT;R>A@2^%ACC
MTI5*U1'T%&'9)W.G6J@'9@51&E(&XX:S09VU-#4% IDT\SJ)GJ#(B@VN]EQ!
MX[-+MPL:73D-&N*'X@MYN$9\4LUV5';"X3RKM;FK*+H56FEBK5/Y=U_^40,Q
M]6(9DKW8%MTM .IG9>QG[-:F#M:2U3TH% 0\'J9I"@[ML\P0"E-;!TMKREAN
MKY:,7+::48,QY7;-;HROA0-M0OE5"CWF0Q;3K0.LT5V2C0C%-*O+FORAQX\,
MG7Q/,8%/&JXK*Q6T[76X4QA48)3=+"!YPC>6WFYP\J6-GJM=U;[1%!R^VF^5
M#@CN118=/9I=%B09RKSKMK>?OMR]/QR_HT123RAE%GI=5&$$6AE+05#&U99;
MQW6>2S8BE&IVN/<5U%O?X42MAI)!K88J*Y<NXV9(*+8)!OF2+I"LY34[3]FB
MGD,/L A!Y09,%XS&DP0^&Q_NUT[7 GSAL#! 9E9:_K6YDEUDN17ROD%AF0J]
ME$#O7-._<\ _% BF0XOS4 ![)\DY#0)*L0M#V#M+WO5;%MP[W3H8<K0J#)./
M:I(?O6NCK=FA1+L*$Q+?4;K2<8SH3_LA[#K.'AOQ.,%]%';%CXW"):FFR=G)
M &R<BN+&FRI,(@OC::X)RX(&2;0L0-^7QOANPP;ZT73V-U!+ P04    " !3
M@3A1D>@AYI$J   [DP  &0   'AL+W=O<FMS:&5E=',O<VAE970R-RYX;6RU
M?6MSVT:RZ%]!^7IO654435)/VTFJ9-G>^%0>+BG)UJVM\P$DAB16(,!@ ,D\
MO_[V<QX@"$E.SA=;)#$S/3T]_>[&=P]5?6?7QC3)UTU1VN]?K)MF^_;U:[M8
MFTUJQ]76E/#+LJHW:0,?Z]5KNZU-FM&@3?%Z-IF<O]ZD>?GBA^_HNR_U#]]5
M;5/DI?E2)[;=;-)Z]]X4U</W+Z8O](N;?+5N\(O7/WRW35?FUC2_;[_4\.FU
MFR7+-Z:T>54FM5E^_^)J^O;][ ('T!-_Y.;!!G\GN)5Y5=WAA\_9]R\F")$I
MS*+!*5+X[]Y<FZ+ F0"./V72%VY-'!C^K;-_HLW#9N:I-==5\:\\:];?O[A\
MD61FF;9%<U,]_&AD0V<XWZ(J+/V;//"S%Z<ODD5KFVHC@P&"35[R_^E7040P
MX')R8,!,!LP(;EZ(H/R0-ND/W]750U+CTS ;_D%;I=$ 7%[BJ=PV-?R:P[CF
MAUL^C:1:)K?YJLR7^2(MF^1JL:C:LLG+5?*E*O)%;FSR2O\Z^NYU TOC!*\7
MLLQ[7F9V8)GI+/FY*INU33Z6F<GB"5X#S [PF0+^?C8XXW^UQ3@YF8Z2V60V
M&9COQ"'BA.8[.3!?WX[_?36W30V$\]\#"YRZ!4YI@=,#"WRI\W*1;PN8%Y!]
M7946ELE2I,T^?'[S9,G__3^7L^GL7?+;V@#1+ZK--BUWN"__F,F23WF9PA1I
MD=PV\ 5<M,8F,&G19B9I9&B+7\("^/F:)TK2,DMR^'H1SF;;N<VS/*T1;< K
MDH=UOEA'X]:I35(<U=1542 \2P="7C:F-K89)Y_+>_A?H>F9)JM@A;)J8+Y[
M\^B$HV3>-K2T#:@[+Y=%:\J%&25I[78*VT#(6R#0FI8T?[9YLTLVIEE7V3BY
M*HK.++"&H#<!,BEM2IS&,FAS8\K$%#E<6D(1[&81GM-X@*;.'$V=#9+!=6K7
M="#TQT> ]SXM$'=]%/6-4T7TI*> .\D!3W"D@)4UL+YBEQ0YC,*-^B-\R)LU
ML*NFK?,F-T)+M3')AKD!X!MH&&9I".-(3/C,MJT7<&A B!7@,5D@2,:#-(2Z
M<X>Z\\']W@",=2X'!K?F\/[__5LZ+TSRF_G:).^+:G'WWWW8?=IJ1N8?QBGM
ME[=>^X$/:R H1&A6IP] XX"[E2E-#7^V@*K< BI7<!R[8- X^0"HAZNQ->E=
M K*\3F7'?*E_J6HXH*N-J9&F$WN7)]:DMBI'X:4C:"_>V1 :@G&>%G#A:.UM
MG8,@R6'UU-H*+B&!C,?/4@SN%(PV];T D)EM99&/-&LX?+R&-9YP#:-XYVM3
MT*5)X6[!#$@3ML5[!S];8%EM4]4['<34AOP;[F@++"-:"V=?ML4R+PI R0#Q
M7#CBN1@\SBOEC3=F88!0@#[Z:.*)D]1NDEZZ@)^K.K/(8K* +0>C $MX6B6J
M*070$6"*KM&\M;"FQ6<+.@] '3YH@;+IFM55UBX:NH:(KGQA[)CE1@'J&ATM
MLL2L:N<-(- O#@>.NE"&-R=-[-8LD"L*UF%XF18["P_AA:)'@/(6<$:@Z.'"
M?9O 1YOTSB#?!SCU-K!,HS-= G^MD.4 A\V!II!F05\"UF*.J^72,LT"MLIJ
M \ L@/<B/R$8X)?:34 D!Q  @:7+)>B'\*% /3&=YP6P_''R+S<I$8\!7M 2
M!FDS"V1-\YW\G\)&AXCJTA'5Y2 ]H.@K<5>FEWT_>7 ?$;D;G ?/$8KQ9KFK
M&[#>#,ZF2>$ZK:HJ ]0NX3]"Y=S<PZG .0*&-GS"=HM(@G^ -2<A)/@UWE68
M33@\D!4<!*RSJ&!EH*T2+ \P)XK\?X@*$-$@EC,#LA4D)PQ$&EZ%[ 5.0"!X
M()T;F1%.IG*Z[^ZDCC21GH&+$6D Y&O@CG<X%U')',2S01&$:D!KY7+Q?G9#
M9_S&G?&;1_0VY,'-;I1\*9"7X:HH:[;(P/I._2],Y^C /[5U3QGW5([RIH;C
MHC,B3.*9\"UM-RUS#F#7@,N<-1=@>]LTK_GPT?1K3$G,@N[*5[ 8D7Y2TB?;
MND8Q]!&_S7)0!(S<OWP#[.>>=<UE6Y(D3O'VJ6Q2I@7RQ!"I@  VR"3@-Q!X
MR(^*?,F++M)MWB 1X5K_0D&Y?6S30-XD;6!BX@X/.5SF++<@EO#;Y2@"8@6[
M)&VELL3]1%,F"05_@WQ+EG6U"43L./D))*E95RC&>*\LI4CEW(#@16B1H1!+
M!NZ.Q'R,1RRDG, 0UD3M&A[G>\- (=+Q6A2&M"2X*TE$UR%^9!"A$?2!X"#Y
M[(N%G/$ *"/9,%_%(<RR^BSGP? !]Q!%!:ZO$QMT[A7*&9S4 0RZX]ODH]O(
M3[@#P/'_,RG0VT]D?(3(G$Z.3\Z2]VU>(&Q,D7/Y%#]Y<7PR27Y.%VO85;WK
M0#W#'S^U=4D42C\N\Z],K2?'TTER6RV;!SRYD^0/ T9)(3\,\(3IQ-O@DT>T
M0T#51V*4R8^H]B"3NDU%*'J3J-?N'IP:G3IO@3TOS/<OML("7SQYO7XUU5TU
MDL3(NY'P<*ZUSF5U+F\+T'F#5%B!.03GC#^F"\ _Z(!(B<AW@.W#C21I7 (1
MMN*W*9'[W)NBXJ/")X&BE I!9_B*%*86G[!\IC%Z-M1^0FB94L.IO::@0VB"
M,>%&N5U]9\A+('R.[S.(S'J%O KYA&V4)8AB!H#F519PPZLLRYG?%7"-+,T.
M S:Y)6_7\Z<FCAKRJQJV5;;"E,)=\V+$_QA/XV2(A@,_TG20AC^8I<'-J6.!
M_ VVWQ+]QJD<.5[#P:>Y'J^BE:T-1 *@L25Y!*PO,_-&: C^L&:AIFA'; BY
M"E=/667(A 95P08YA+*2O"FDJ> *156NCHD%XQ*C/NDI[)Z8[LC#:;XNS)86
M$(4HV$Q M(@?T$6/%_!]CK92G98KYFHC\9#@9D*1E"D*F7IL0-HD!^RC8 *1
M!I_P2=+!W<1+=S8,.%MP<O4 :'<?A9AEP;+7KHP\4X$_"E;]-;!951S"O%M#
M[EP1?2+AMML"3 )4VNBP<^(B-),H!?RU14T"( ?FLX;U0+4$EH4@PXKBJ]B1
M*X)5@+2#AU@"MZ67Y8>0,T+A# SK&'8"IA ^SHBH#>H9*(7EDN-IHX9!3$!A
M)-XDI#RDA$YG_K+.!F_8/T&9?P!K6/A] _24(]JNB#9ZK^Q?F;!7CJ!3;E$
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M-^/+X E?L8F$BD_T956[M"=\0$-3>RSZ+^5:#R?#^38>T^'&&R+C?T,VTDL
M3Q_NCEF^!-;D]0:-Q/T^OAW3+Z^6)J.63]1W!?=XI+**I%'N)C$'2AM](@W+
M-_]\E.0 A'F,"_(#HS"CUID)^/L!;8MNLQ_BN0%9@VP+D2%?N@)%F$PS^<*<
MDZ%%0NU$23E(6N62"D(H:6ZLMX'I4M5H%&4YFDIT.X!--P_H4**;! /FY ]&
M7>/P_IA[6Z]W/!HFB++FK5,R/(FS_E3RKKWQ7>_FZ>*.,YOQ$PQ"5X><L.B*
M3SR96)L$29NJ4]O$XX.,*["K0>U>YLV>+OK1(S8\[E(L69BF2!_HQCZ):NA
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MM+VOT,OS*K5<0&5\G>#Y**'BHM\0L@]FWAQ%V\%6SWO;H=PUPH@X!H2_^O9
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MHEMP)YTPV44AH)/Y4Q[S)Q?-Z10(.FM)?"_1HRZEKY */WZY@[ R0D 4QVK
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M_X5=>S;+>I WQJKZJ$P>U%RV(]L?\W"F,([>4$B."HGWNP7R7GYDELVG6NU
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M;"]W;W)K<VAE971S+W-H965T,CDN>&ULG5;;;MLX$/V5@;$/+4!$O$FB L=
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M ^XW&=:,:Q^'Y_4"SRC@8\/0JEXLUX)'.Y%_TE0>7=^.Y[73VU?D]6DN)%1
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M2]1.@/[OE;*7C3/0/[_+?P!02P,$%     @ 4X$X479[5(EB(@  =7(  !D
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M#$#9>1#@2,&V6JNYPG,@I49RSBU$X1IV)P),?<-Z3H.D6[3BX!6%CA8J?A:
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M_B<PK""W<)F7R(E+,01[\&7+VFFSPHYCQRXP"5=@/G80'N 1^LIH;\![%$3
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M,I?<J10F _16+M12L7@&=KP!/!8$5T:GP7(NX,&('=QHRQ('#=J!N+7II!#
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MK JB]9YC<)AO(;Y#)ZK63S2,NFP/+!5%G-9$SW#"C2?V+BO$L$91AEEMZHX
MJA#;=@WV_ 37S/T$U^S9/\%UZ=K,?/0T\3,@G;J^??+ZM^O7N?8OXZ<.R&WI
M6DV$H5>O76S29.?7@9).!]\;'W/7])K;<J+-V/\C7^Q(TZD=CT[ ?SY[G5R
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M23>#@-?,PWYO$9=DL^+YBC"*CX[G1.5YI34KA@]2]UBV'D\0E[FH"H9HBC^
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M02@#M_6[Q5F/P%5YYHD"M)C$#FN]R-G$1R&*E:5N%:1@TFB"&]*1&])I;MC
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M>)WA5*[[SQK]A55;_REAH:Q5C5]N)+I3NPUXOE+*#A?.P/AMZ?I_4$L#!!0
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MH[,>Y5I7 U&UL:KP0\A461II_')!,R1J)T#W,Z7L>N,,-%/IZ"]02P,$%
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MGB)6Q$&6I.QG46^Z^!!415-)H-8,(!_R2526!G$<LA,_R%(,WLY[:P+@]71
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MX"5:PF+^BBL9^#NKO5-JBB$M=)!4WLG!E'4=C.*<3HOO-Z43E1:>JX**:3@
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M=2J#(1UY00K'^,WW"0L!SYE<N$[#WA6/BT+97;[;06.$HO_<^DY!L !TY+,
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M7EO<<([W1*'L!OR>2VFV$VN@NWE>_ M02P,$%     @ 4X$X4<Z)P=QV!0
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MN'AD0JFI&IWN5=N#SS@M"'A/DHU.Q4.N:E;T\F2]Z4GDO6A1BQ;]A&+,5+>
M>S58EK (>*QY[CO \@"T$2 R 81] %M%@W9):YOED:AA\:K%9$3A=E'X'O2"
MT^H;UZ'>?+::!^VBU\)--5R#4O1TMD$(X4A!.NWL[KI.9YM<16YO;*TB0KLD
M]I?B"LP*SHEYNH!=>7.#P.F<6?]'(K\P>?*BWL!:H80_4,H.#0&<_*T&\[[C
MN*@='O$V\GJ1M((([8H8W"#_%SVRJ7;Y\P/)5H3_99D+8:MLT"YME4L]PSPR
MG OP5$TUQGIUE2NPC(.P525HEZ4Y6<D#GKLZI,$Y%7'*1,'-D+I"%'AN+_VA
M5HJ078H63\]@26*U;7)^UE&K!<BN!3^1==0E>.B.7.CUA-@R/+(S_'_/.NI2
M.O2= (4]D%I.1W9.7]Q=^V!.7DC*=N7T=W[J6R)&=B+^F=1W"=,;A:[;$V;+
ME\C.E_\C\X8?#B,$40^BENB0G>C>O8[8YZ2Z)2UD)ZVS?NBA[K2N)K?>$]P2
M&[(3VSW-J237C_1%'>&']F?#M)HFSPFT)3!D)[#S HVZ@V4WSN'!=4Y&^*:\
M1Q.@_,U977XT;YN[NFEY0W7R_@Z^G5<W;JV;Z@+P ^9JLA1J$%DKE\[-2.6>
M5W=JU8-DN_+2:,6D9%GY<4MP0KA>H+Y?,W6&Z@>]07.S.?D74$L#!!0    (
M %.!.%%1R-6$6@,  #L/   9    >&PO=V]R:W-H965T<R]S:&5E=#0R+GAM
M;*V776_;(!2&_PKRU29-M2']G))(33^T38L:M5IW,>V"VL<Q*H84<--*^_$#
MG-BIVIID\TT,-N?EG!?G2<YP*=6]+@ ,>BJYT*.H,&;Q.8YU6D!)]9Y<@+!/
M<JE*:NQ4S6.]4$ S'U3RF"3)85Q2)J+QT-^;J?%05H8S 3.%=%665#U/@,OE
M*,+1^L8UFQ?&W8C'PP6=PPV8'XN9LK.X4<E8"4(S*9""?!2=XL\3LN\"_(I;
M!DN],4:NE#LI[]WD:S:*$I<1<$B-DZ#V\@AGP+E3LGD\K$2C9D\7N#E>JU_Z
MXFTQ=U3#F>0_66:*470<H0QR6G%S+9=?8%70@=-+)=?^$RU7:Y,(I94VLEP%
MVPQ*)NHK?5H9L1& #]\)(*L XO.N-_)9GE-#QT,EETBYU5;-#7RI/MHFQX0[
ME1NC[%-FX\SXICX-)'-TP^:"Y2REPJ#3-)65,$S,T4QREC+0Z,-Z[95 %]HP
M:PEDZ(>&O.+H.\L!7>5HINP+H\SS)S3C7DADZ.*A8@M[DN8C^G .AC*N/PYC
M8[-W.<3I*M-)G2EY)U-,T%0*4VAT(3+(7@K$MNRF=K*N?4(Z%;]5? \-\"=$
M$I)TZ T:+P=>;_\]+V5NEE0!HK;H9G(.C_;=]_6C,ZF-1K^F4-Z!^MVQY7ZS
MY7[GENTY<'< 3*!GH$J_Y6ZWT."MP!<I'30I'70J39E@954V5:(_Z+LSY&NY
M4/(1G ];67#8['?8EP7=0C@)>G#4Y'2TJP>3BO',?I^T?SO6LYU=.6XR..[+
ME6ZAHZ I)TU*)[N:,J5I85=9IM!-3FQC!$Y:PB5]61%0(D$O\ 9W\:YN7%9*
M,%.M '+)GMQXJ[<"DW9;TIL9W4IA8N 6G+B;G&^8<0L%2_F6Y;>XQ+WQ,J"T
M1?DM,7$ F?2I%V3BEIFX-V@&E 8'82-:;.( -U\;T1,W<0M.W!LY TJ#\ \*
M;N&) _1\;<U_T).T]"2]T3.@M(4=I,4G">#SM1W_CD_2XI/TAL^ TA;_-DC+
M3Q+@YVLW=N$G:?E)>N-G0*FK_GBCGRE!S7W7II%O2>K6IKG;=(:G=3_4+J_;
MRBE5<R8TXI#;T&3OR))8U9U:/3%RX;NC.VELK^6'A>UN0;D%]GDNI5E/W 9-
MOSS^"U!+ P04    " !3@3A1]LW*.5<#   0"P  &0   'AL+W=O<FMS:&5E
M=',O<VAE970T,RYX;6RU5M]OVCH4_E>L: ^MM#9Q?D$J0"K0:9O66U3N[AZF
M/9CD %83F]FF=/_]M9TTH\&@JE)?P':^\^5\WW'L,]AQ\2#7  H]52630V^M
MU.;*]V6^AHK(2[X!II\LN:B(TE.Q\N5& "EL4%7Z81"D?D4H\T8#NS83HP'?
MJI(RF DDMU5%Q)\QE'PW]+#WO'!/5VME%OS18$-6, ?U?3,3>N:W+ 6M@$G*
M&1*P''K7^&J*;8!%_$=A)_?&R$A9</Y@)E^*H1>8C*"$7!D*HO\>80)E:9AT
M'K\;4J]]IPG<'S^S?[+BM9@%D3#AY0]:J/70ZWNH@"79ENJ>[SY#(R@Q?#DO
MI?U%NP8;>"C?2L6K)EAG4%%6_Y.GQHB] )P>"0B;@+ ;$!\)B)J Z+4!<1,0
M6V=J*=:'*5%D-!!\AX1!:S8SL&;::"V?,E/WN1+Z*=5Q:C2OZXWX$LWIBM$E
MS0E3Z#K/^98IRE9HQDN:4Y#H[+HL>4YLN>XT7/'\X6*L/2_0A%=Z(\KZV<V3
M&<,Y.IN"(K24Y^@"?9]/T=F'<_0!48;^7?.M)*R0 U]I#283/V_R'=?YAD?R
MQ2&ZY4RM);IA!10O"7PMOG4@?'9@')YD_+HM+U&$/Z(P" -'0I-7A^/,$3Y]
M?7C_A)JHK6=D^>(C?#,!%XH\(6FKL[#5R?>K W5U7,[7S*EE-N?%XRC$08@'
M_N.^'8<HG/63]"5JZD(%<="B7HB+6W'Q27'?0,HKM  &2ZJ0/O3T9M+B &G%
MX-Q,-5^RET82A+V.HD-0G/2SCB '4QRD;CU)JR<YJ><??:Z_I5#)02XXR;*X
M(\N%"M..^*D#%:51[!:6ML+2D\)NS>&A+QUTMP%![#'2G KHYRU4"Q"_3NSU
M7ON6WKOM]=ZA[%Z,@XZ%#E0:]SI&3QVHI(>/[(U^*ZY_>J_S8F5\>Y.#6?N2
M[-T<S Y41U'6^6HF#E"(NY^6$Y2X[</!WXLM.*GM'DB);J0B"MYF(MZ[0_&[
MV=A0OSQUPXZ-#A!.HXZ-+E"0=6ST]UJ%"L3*MEP2V=N^OC/;U;:MN[;-3&=]
M;-H]VX+\I:E[Q5LB],Z5J(2EI@PN>[JRHFZ_ZHGB&]N0++C2[8T=KG7+"L(
M]/,EY^IY8E[0-L&C_P%02P,$%     @ 4X$X44O\Q(\A!P  %B0  !D   !X
M;"]W;W)K<VAE971S+W-H965T-#0N>&ULM5K;;MLX$/T5PMB'%NC6O(F2@B1
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M.)ORJBF@?I^5I5P]-!VLK[:=_@=02P,$%     @ 4X$X4;3WA>+4!@  @QX
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M^<<M]@*<9 #Q?$U%UU)^R2:HWCM?_@]02P,$%     @ 4X$X4<_#Z/]:$P
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MQ6$7CL,6E<[SBADUZ@9-KM$$<)N*FJXE:EHTXAF;4:-N6,0A=K$+6$D%1G=
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MQE</?H8[CB;&XM?V_=JC5%F*9\E2^G"N*8.JXN=)OE@D=<7VG%+;N.&G.N/
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MDPX,DL-= <NQND*C2#HPV$Y/-B;?DSLT$J.S:UUG+:'M#A@?-,ZA Z/@<'?
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MU;^4^5)^Q]EM7I;Y0O[XP%?OE(D&_.]B@V+]B_C:M,UW_7WX/U!+ P04
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M6-0"PSC <6!&BQNT^!R:9T*+V]*\H=^12^P<NK)S#LXW=DS'A!=W7"5\]!7
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MNEQN(>7\LT'*6(WR>JC1>JA1)19;Q%X4N7J2UX.U&G/PY[5Z!JXD3_*_.MK
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MUXKU(Q+5X*@VBB]M[YUQI3NY769ZUJ(P#OI\SKG:;$R"9GH/?@%02P,$%
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M,N/EO)3U7[!O;/T1R+=2\:IQU@0598=?_-PDXL0!ACT.J'% [W4(&H>@#O1
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M_+-K1R0>3AX*DC[%B"I,XC[%4#7S@P1-;+&DI4ANHY@\(LEP+Z'.N:P1AJ(
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M,*FF2FP:1FY<W?0H#59A[G.-E34H.P''*RG-2\,:Z&KUV7]02P,$%     @
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M885W/2@KP/U22O,\L==)_^^1_0502P,$%     @ 4X$X40J9*O ' P  10@
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M\ZB5AE<-MD!]\H/*P%%5TM9=J]UM9^&#'P&O]E<T(^N1]H.F'K!;ID^<NJ[
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MW-/=!'.G1-B6X(T\8]WZ;%1E,7G6,%/:+-67N+KC,Q.WS7!21F\:NW1X9(@
M82#@[<T;P8&P5-+6'Q@.M)9J.="P1H"P;@5RJ]>YGL;;"Q:3"=$*4C[^;]6
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M6.:71/F+$IOLH/XLE#[X9X]KSI9<I@#]_44(M7])'917=</_ %!+ P04
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MD5+%J\FO6DBV-8/'BDDUQIC+5$W+A&N NK]F3.X7.D$S?\_^!U!+ P04
M" !3@3A1>IQC)$ %  !0%   &0   'AL+W=O<FMS:&5E=',O<VAE970W-BYX
M;6RM6%U/XS@4_2M6-0\@01([GT6E$E"8G9&803#,:+7:![=QVX@D[MIN"ZO]
M\6L[(<DT3LBRTX?62>^]/O?Z^/K(DSUE3WQ-B #/69KS\]%:B,V9;?/%FF28
M6W1#<OG/DK(,"_G(5C;?,()C[92E-G*<P,YPDH^F$_WNCDTG="O2)"=W#/!M
MEF'V<DE2NC\?P='KB_MDM1;JA3V=;/"*/!#QN+EC\LFNHL1)1G*>T!PPLCP?
M7<"SC\A1#MKB>T+VO#$&*I4YI4_JX5-\/G(4(I*2A5 AL/S9D2N2IBJ2Q/%7
M&714S:D<F^/7Z#<Z>9G,''-R1=,?22S6YZ-H!&*RQ-M4W-/];Z1,R%?Q%C3E
M^AOL2UMG!!9;+FA6.DL$69(7O_BY+$3# 08=#JAT0(<.7H>#6SJX0QV\TL$;
MZN"7#OY0AZ!T"(8ZA*5#J!>KJ*Y>FAD6>#IA= ^8LI;1U$"OK_:6*Y+DBHH/
M@LE_$^DGI@^"+I[ %<TDMSG6[+A+<0Z.OF#&L*+),3B:$8&3E!^#4_#X, -'
M'X[!!V #OL:,<)#DX#%/!#^1+^7X-DE3&89/;"'QJ5GL18GELL"".K! !&YI
M+M8<7.<QB7\.8,O$JNS0:W:7J#?BYVUJ 1>> .0@QP#H:K ['!O<9\/=(X/[
M]7#PKL']9K@[,KA_'.X.>Y;"K8CFZGA>%]%*LG"^)3&0/11P33W51V*P:!+P
M2+*HX-:QB43%/+Z>1W7:W=3S'/69V#L#0*\"Z/4#[(*#]YC%($V6Q(2F/RAT
MP O!C/<4T*_P^?\'WXYPD>0KL"$LH;$):7]X]TV@004T>!?0D]>&@7>RF^!Y
M2C0-5@SGXJTU#UIK[J*>-0\KJ&$OU&]4X!1L<T86=)4G?Q^6ECRKL7'=B\#0
M:4!"OC4VXXDJ/-';F^2T*-T=?I%'O@ 7L@_G*Z+&)^#ZF;!%P@F@2_!U4U3U
M&WX&ER0GRT28@$9MH!!9;@6T:(0FJ^#0:F:P"L=6:$YZ7"4]'L"7BXV44HND
MJ+M61!P</5S<RU/GCUN2S0G[LX>;T*G/.Z=WMA]:G)#X%.\(DV*KX-]IC(6D
M(TX8V.%T2S0?8YJF<DNH+55PTTC-<KZP41,_LI!_4&"#V3BRX/B@P@:S,+*<
M8-SXF,L-&T<^["W!IURP1(K)19FKY!+57));,X^!*KID?D$T8R<IXP?-[=C*
M%[:YXD$+'>9K,$/0M:*.)%&=)!J\E7Z2-XW]!.8OP+CE5$<]*3>8U#7?96\E
M\L67K>*AJE=QFAEK@UJM:@R;C:HL3]L,NFV[F<DN&'<V/E@?QW# >?Q+ZZ/$
MWYT^?4[ C=I)WQ6[C#5R#8MN!8<E,EA!O\T@DUED^1T%JN4 [#^Z[V52+%FH
MQ(H.I44N.+I_>!S8D^J3'?:?O;^^)_FM+H)@:'FM$AOL L_RO,,:F^+Y%O0Z
MBEQ+!?A>K<#J\I>R01=%/KXA%6!;*T2N80.VS8+(L/_:9F'8O?UJX0'[E<=_
M27Q7;*^W\@[;"9GR;IM!!QD2-]G![LQKB0/?T#B=F0NMQAJ$EXVV50UCZB;U
MXC7.D#)U@QF*#LUF1C.WLZ'4,@?VZYQK*29U(H*".0'WM>:4"_LU)^!W*<"K
MQ@+^ 3=4*B+,Q9!F@VH!A/H%T/LU[W49^><Z'S;DF]*JJ0X.5,Y'8R"_)23M
MQKU&1MA*7UEQ"7>;B^(2H'I;78M=Z,N@@_>7\&Q67&[588J[MEO,5E(+@90L
M94C'"B7A67%]53P(NM&W)W,J!,WT<$UP3)@RD/\O*16O#VJ"ZA)Q^B]02P,$
M%     @ 4X$X46.70D55 P  00T  !D   !X;"]W;W)K<VAE971S+W-H965T
M-S<N>&ULS5==;]HP%/TK5J1)K=22+SXK0"JETSJM&BI:]U#MP9 +6+5C9CM0
M_OUL)Z2T2PR3]M 7L!V?XWM\;N+K_I:+9[D"4.B%T50.O)52ZRO?E_,5,"P;
M? VI?K+@@F&ENV+IR[4 G%@0HWX4!&V?89)ZP[X=FXAAGV>*DA0F LF,,2QV
M(Z!\._!";S_P0)8K90;\87^-ES %]6,]$;KGERP)89!*PE,D8#'PKL.K<1@;
M@)WQ2& K#]K(2)EQ_FPZ=\G "TQ$0&&N# 76?QNX 4H-DX[C=T'JE6L:X&%[
MS_[9BM=B9EC"#:<_2:)6 Z_KH006.*/J@6^_0"&H9?CFG$K[B[;%W,!#\TPJ
MS@JPCH"1-/_'+\5&' #"3@T@*@#1J8"X ,3O =T:0+, -.W.Y%+L/HRQPL.^
MX%LDS&S-9AIV,RU:RR>I\7VJA'Y*-$X-IXK/G]$-9SJ1)+963"A.T=E49UB2
M44#?%VBZP@+02&]O\G;J(Z99WKKG"=!S=#8&A0F5YWU?Z>C,&OZ\B&241Q+5
M1!)&FB15*XENTP22MP2^EE5JB_;:1I&3\6M&&R@.+U 41$%%0#<GP\->!7Q\
M.KSK4!.73L66+ZYSRIAP.?O;A&LA<+H$_3(J--NAPWD3O+/#UULL$O3T35.B
M.P5,_G($U"P#:MJ FC4!W;ZL]<NK5]EPJB.A1.VJ7'>31+U&)_A498X;%W<;
M[4K<V(UK!HW@/>Z-^E:IOG6:^H1L2 )I(JO$NSFB1K=:^S%86"W]&,RMO%TJ
M;SMY'HA\OEP( "2P@@OS52(L8U7RW41AG7PW+&HTJ^4?6RURRN^4\CO_)A^_
MU,EW$U7XD<L_!NM5RS\&BYWRNZ7\KI/G/G<;/=T#FX%P?4AZ)67O8WS9PN#U
M5 Q.>[L5"(;.\ :$KH(02=$.L*@YWMR4[1R*VHC98Z[*^=,HJLP_@FP5BX=!
MY>IO=^F@=@C=N9"G_BFY$$:OI-$'R8;7DS>,_W\VN"D[>T-R/RJ3P<VPSZ=.
M?3Z-3Z1H.9+"/Z@M&8BEK=$EFO,L57DI5HZ6]X!K6_V^&Q^9^X&M65]I\LO%
M/19+DDI$8:$I@T9'GV,BK]?SCN)K6\'.N-+UL&VN]!T'A)F@GR\X5_N.6:"\
M-0W_ %!+ P04    " !3@3A1H>J =V %   =%P  &0   'AL+W=O<FMS:&5E
M=',O<VAE970W."YX;6S-6%U/ZS@0_2M6Q0-(D,3.5XM*I=*RVGNENR!ZX3ZL
M]L%MW#8BB;NV2^'?KYV$)$V<- AI=WF@L3,SGC/CF1Q[?*#LA6\)$> MCA)^
M,]@*L;LV3;[:DAAS@^Y((M^L*8NQD$.V,?F.$1RD2G%D(LORS!B'R6 R3N<>
MV&1,]R(*$_+  -_',6;OMR2BAYL!''Q,/(:;K5 3YF2\PQNR(.)I]\#DR"RL
M!&%,$A[2!#"ROAE,X?4<V4HAE7@.R8%7GH&"LJ3T10V^!3<#2WE$(K(2R@26
M/Z]D1J)(69)^_)T;'11K*L7J\X?UWU+P$LP2<S*CT:\P$-N;P7   K+&^T@\
MTL/O) ?D*GLK&O'T/SCDLM8 K/9<T#A7EA[$89+]XK<\$!4%Y+4HH%P!U12@
MTZ)@YPIV7P4G5W#2R&10TCC,L<"3,:,'P)2TM*8>TF"FVA)^F*B\+P23;T.I
M)R8+05<O8$9CN9$X3E/Q$.$$G"_D#@OV$0'W:[#88D; K0QO<"QZOTM_IDD
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M5*TI UC9/Y<W@N:Z0=Q0(=M-/8SD;PYDRD"^WU(JCC?J _6OF,7_4$L#!!0
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M':5_'<?VD-/IKV,BM'I;Z/EQ:%0*CMQC)8QQ8K3^-8+)#^Q^ %!+ P04
M" !3@3A1AWU?ZP@&  !I-0  #P   'AL+W=O<FMB;V]K+GAM;,6;W5/;.!#
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MN$RN%B]OJZI_>4M5/7>00)#,'Y0A*,\?I!"D\P<9!-G\00Y!/G]00%#,']1
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M.7Y^UH/KQI=\-O\?_?HW4$L! A0#%     @ 4H$X40=!36*!    L0   !
M             ( !     &1O8U!R;W!S+V%P<"YX;6Q02P$"% ,4    " !2
M@3A13Q869^X    K @  $0              @ &O    9&]C4')O<',O8V]R
M92YX;6Q02P$"% ,4    " !2@3A1F5R<(Q &  "<)P  $P
M@ ', 0  >&PO=&AE;64O=&AE;64Q+GAM;%!+ 0(4 Q0    ( %*!.%']"@^"
MRP4  &@8   8              " @0T(  !X;"]W;W)K<VAE971S+W-H965T
M,2YX;6Q02P$"% ,4    " !2@3A1E5",^H$'  "B'0  &
M@($.#@  >&PO=V]R:W-H965T<R]S:&5E=#(N>&UL4$L! A0#%     @ 4H$X
M4=8R9%B  P  ,@P  !@              ("!Q14  'AL+W=O<FMS:&5E=',O
M<VAE970S+GAM;%!+ 0(4 Q0    ( %*!.%'5Y8^RG0<  #0?   8
M      " @7L9  !X;"]W;W)K<VAE971S+W-H965T-"YX;6Q02P$"% ,4
M" !2@3A17APT/A\$   "#P  &               @(%.(0  >&PO=V]R:W-H
M965T<R]S:&5E=#4N>&UL4$L! A0#%     @ 4H$X45IQ/^F% @  0P8  !@
M             ("!HR4  'AL+W=O<FMS:&5E=',O<VAE970V+GAM;%!+ 0(4
M Q0    ( %*!.%$9/RN9!PD  . P   8              " @5XH  !X;"]W
M;W)K<VAE971S+W-H965T-RYX;6Q02P$"% ,4    " !2@3A18[ : L,)   _
M*@  &               @(&;,0  >&PO=V]R:W-H965T<R]S:&5E=#@N>&UL
M4$L! A0#%     @ 4H$X45./@N-P!@  %A   !@              ("!E#L
M 'AL+W=O<FMS:&5E=',O<VAE970Y+GAM;%!+ 0(4 Q0    ( %*!.%&P1@J%
MHR$  !%L   9              " @3I"  !X;"]W;W)K<VAE971S+W-H965T
M,3 N>&UL4$L! A0#%     @ 4H$X4;S<:0T4$@  X#0  !D
M ("!%&0  'AL+W=O<FMS:&5E=',O<VAE970Q,2YX;6Q02P$"% ,4    " !2
M@3A1J]WM(@$*  !N&@  &0              @(%?=@  >&PO=V]R:W-H965T
M<R]S:&5E=#$R+GAM;%!+ 0(4 Q0    ( %*!.%%?X%J[I@8  #L0   9
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M970Q-RYX;6Q02P$"% ,4    " !2@3A1GWEJ7:()   R&P  &0
M    @($?R   >&PO=V]R:W-H965T<R]S:&5E=#$X+GAM;%!+ 0(4 Q0    (
M %*!.%'&^^1YVQ   #<O   9              " @?C1  !X;"]W;W)K<VAE
M971S+W-H965T,3DN>&UL4$L! A0#%     @ 4H$X45DV+C$/ P  R 8  !D
M             ("!"N,  'AL+W=O<FMS:&5E=',O<VAE970R,"YX;6Q02P$"
M% ,4    " !2@3A1&L?Z</$-  ##)P  &0              @(%0Y@  >&PO
M=V]R:W-H965T<R]S:&5E=#(Q+GAM;%!+ 0(4 Q0    ( %*!.%'8SJOYO@H
M *@:   9              " @7CT  !X;"]W;W)K<VAE971S+W-H965T,C(N
M>&UL4$L! A0#%     @ 4H$X461=*.W= P  \ D  !D              ("!
M;?\  'AL+W=O<FMS:&5E=',O<VAE970R,RYX;6Q02P$"% ,4    " !2@3A1
M_-[P_;<#  "H"0  &0              @(&! P$ >&PO=V]R:W-H965T<R]S
M:&5E=#(T+GAM;%!+ 0(4 Q0    ( %*!.%' _#*5EPH  '8?   9
M      " @6\' 0!X;"]W;W)K<VAE971S+W-H965T,C4N>&UL4$L! A0#%
M  @ 4H$X4;;;>E2E!   I@H  !D              ("!/1(! 'AL+W=O<FMS
M:&5E=',O<VAE970R-BYX;6Q02P$"% ,4    " !3@3A1D>@AYI$J   [DP
M&0              @($9%P$ >&PO=V]R:W-H965T<R]S:&5E=#(W+GAM;%!+
M 0(4 Q0    ( %.!.%%1]GM,W ,  ,X(   9              " @>%! 0!X
M;"]W;W)K<VAE971S+W-H965T,C@N>&UL4$L! A0#%     @ 4X$X43#HY\_[
M P  ,@@  !D              ("!]$4! 'AL+W=O<FMS:&5E=',O<VAE970R
M.2YX;6Q02P$"% ,4    " !3@3A1Z&RL \T%  !_#P  &0
M@($F2@$ >&PO=V]R:W-H965T<R]S:&5E=#,P+GAM;%!+ 0(4 Q0    ( %.!
M.%'O>6193 ,  (H'   9              " @2I0 0!X;"]W;W)K<VAE971S
M+W-H965T,S$N>&UL4$L! A0#%     @ 4X$X479[5(EB(@  =7(  !D
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M=#,V+GAM;%!+ 0(4 Q0    ( %.!.%$HXXI4V0<  ,X4   9
M  " @=6+ 0!X;"]W;W)K<VAE971S+W-H965T,S<N>&UL4$L! A0#%     @
M4X$X4:<I9B.9!P  1A$  !D              ("!Y9,! 'AL+W=O<FMS:&5E
M=',O<VAE970S."YX;6Q02P$"% ,4    " !3@3A1T$0!->T#  #A"0  &0
M            @(&UFP$ >&PO=V]R:W-H965T<R]S:&5E=#,Y+GAM;%!+ 0(4
M Q0    ( %.!.%';F4UF8 4  (4.   9              " @=F? 0!X;"]W
M;W)K<VAE971S+W-H965T-# N>&UL4$L! A0#%     @ 4X$X4<Z)P=QV!0
MY10  !D              ("!<*4! 'AL+W=O<FMS:&5E=',O<VAE970T,2YX
M;6Q02P$"% ,4    " !3@3A14<C5A%H#   [#P  &0              @($=
MJP$ >&PO=V]R:W-H965T<R]S:&5E=#0R+GAM;%!+ 0(4 Q0    ( %.!.%'V
MS<HY5P,  ! +   9              " @:ZN 0!X;"]W;W)K<VAE971S+W-H
M965T-#,N>&UL4$L! A0#%     @ 4X$X44O\Q(\A!P  %B0  !D
M     ("!/+(! 'AL+W=O<FMS:&5E=',O<VAE970T-"YX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    ( %.!.%'/P^C_6A,  /=O   9              "
M@67. 0!X;"]W;W)K<VAE971S+W-H965T-#DN>&UL4$L! A0#%     @ 4X$X
M41N5DK'C P  *PP  !D              ("!]N$! 'AL+W=O<FMS:&5E=',O
M<VAE970U,"YX;6Q02P$"% ,4    " !3@3A1]BJV'(T$  !1$P  &0
M        @($0Y@$ >&PO=V]R:W-H965T<R]S:&5E=#4Q+GAM;%!+ 0(4 Q0
M   ( %.!.%%W3,"[H @  '<T   9              " @=3J 0!X;"]W;W)K
M<VAE971S+W-H965T-3(N>&UL4$L! A0#%     @ 4X$X48E 8U[3 @  R0<
M !D              ("!J_,! 'AL+W=O<FMS:&5E=',O<VAE970U,RYX;6Q0
M2P$"% ,4    " !3@3A1C,5)>R,#   &"@  &0              @(&U]@$
M>&PO=V]R:W-H965T<R]S:&5E=#4T+GAM;%!+ 0(4 Q0    ( %.!.%%0*\5Z
M\0,  *0,   9              " @0_Z 0!X;"]W;W)K<VAE971S+W-H965T
M-34N>&UL4$L! A0#%     @ 4X$X4=L9Q]H" P  -PD  !D
M ("!-_X! 'AL+W=O<FMS:&5E=',O<VAE970U-BYX;6Q02P$"% ,4    " !3
M@3A1:7R1PTX%  !A%P  &0              @(%P 0( >&PO=V]R:W-H965T
M<R]S:&5E=#4W+GAM;%!+ 0(4 Q0    ( %.!.%%\Y/B.LP,  & .   9
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M970V,BYX;6Q02P$"% ,4    " !3@3A1MI_ Z3D%  ":$P  &0
M    @(%=' ( >&PO=V]R:W-H965T<R]S:&5E=#8S+GAM;%!+ 0(4 Q0    (
M %.!.%%XDJ/%J@0  *<0   9              " @<TA @!X;"]W;W)K<VAE
M971S+W-H965T-C0N>&UL4$L! A0#%     @ 4X$X41YZ#Z&? P  20P  !D
M             ("!KB8" 'AL+W=O<FMS:&5E=',O<VAE970V-2YX;6Q02P$"
M% ,4    " !3@3A1TL14V@H$  "W#P  &0              @(&$*@( >&PO
M=V]R:W-H965T<R]S:&5E=#8V+GAM;%!+ 0(4 Q0    ( %.!.%'#S=T%. ,
M %X)   9              " @<4N @!X;"]W;W)K<VAE971S+W-H965T-C<N
M>&UL4$L! A0#%     @ 4X$X4;3:S:7W @  1 @  !D              ("!
M-#(" 'AL+W=O<FMS:&5E=',O<VAE970V."YX;6Q02P$"% ,4    " !3@3A1
M.0;;L&X"  !)!@  &0              @(%B-0( >&PO=V]R:W-H965T<R]S
M:&5E=#8Y+GAM;%!+ 0(4 Q0    ( %.!.%$*F2KP!P,  $4(   9
M      " @0<X @!X;"]W;W)K<VAE971S+W-H965T-S N>&UL4$L! A0#%
M  @ 4X$X43@.C@%M!0  DA4  !D              ("!13L" 'AL+W=O<FMS
M:&5E=',O<VAE970W,2YX;6Q02P$"% ,4    " !3@3A1WHYB&LT(  "T)P
M&0              @('I0 ( >&PO=V]R:W-H965T<R]S:&5E=#<R+GAM;%!+
M 0(4 Q0    ( %.!.%$DE#U1= 0  +83   9              " @>U) @!X
M;"]W;W)K<VAE971S+W-H965T-S,N>&UL4$L! A0#%     @ 4X$X40N0["%S
M!0  QQ8  !D              ("!F$X" 'AL+W=O<FMS:&5E=',O<VAE970W
M-"YX;6Q02P$"% ,4    " !3@3A1<WW VYT#  "+"P  &0
M@(%"5 ( >&PO=V]R:W-H965T<R]S:&5E=#<U+GAM;%!+ 0(4 Q0    ( %.!
M.%%ZG&,D0 4  % 4   9              " @198 @!X;"]W;W)K<VAE971S
M+W-H965T-S8N>&UL4$L! A0#%     @ 4X$X46.70D55 P  00T  !D
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M=#@Q+GAM;%!+ 0(4 Q0    ( %.!.%'>8F^"7 (  #X-   -
M  "  4UQ @!X;"]S='EL97,N>&UL4$L! A0#%     @ 4X$X49>*NQS
M$P(   L              ( !U'," %]R96QS+RYR96QS4$L! A0#%     @
M4X$X48=]7^L(!@  :34   \              ( !O70" 'AL+W=O<FMB;V]K
M+GAM;%!+ 0(4 Q0    ( %.!.%&KG#%+;@(  -HO   :              "
M ?)Z @!X;"]?<F5L<R]W;W)K8F]O:RYX;6PN<F5L<U!+ 0(4 Q0    ( %.!
M.%%$Y-]8'@(  )<N   3              "  9A] @!;0V]N=&5N=%]4>7!E
<<UTN>&UL4$L%!@    !9 %D 9A@  .=_ @

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>100
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>315</ContextCount>
  <ElementCount>633</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>110</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>8</UnitCount>
  <MyReports>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>0001000 - Document - Document And Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/DocumentAndEntityInformation</Role>
      <ShortName>Document And Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>1001000 - Statement - Consolidated Balance Sheets</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedBalanceSheets</Role>
      <ShortName>Consolidated Balance Sheets</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>1001501 - Statement - Consolidated Balance Sheets (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical</Role>
      <ShortName>Consolidated Balance Sheets (Parenthetical)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>1002000 - Statement - Consolidated Statements Of Operations</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations</Role>
      <ShortName>Consolidated Statements Of Operations</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>4</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>1003000 - Statement - Consolidated Statement of Comprehensive Income</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome</Role>
      <ShortName>Consolidated Statement of Comprehensive Income</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>5</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>1003001 - Statement - Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical</Role>
      <ShortName>Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>6</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>1004000 - Statement - Consolidated Statements Of Stockholders' Equity</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity</Role>
      <ShortName>Consolidated Statements Of Stockholders' Equity</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>7</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>1005000 - Statement - Consolidated Statements Of Cash Flows</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows</Role>
      <ShortName>Consolidated Statements Of Cash Flows</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>8</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>2101100 - Disclosure - Organization and Business</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/OrganizationAndBusiness</Role>
      <ShortName>Organization and Business</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>9</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>2102100 - Disclosure - Summary of Significant Accounting Policies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies</Role>
      <ShortName>Summary of Significant Accounting Policies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>10</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>2103100 - Disclosure - Revenues (Notes)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.vailresorts.com/role/RevenuesNotes</Role>
      <ShortName>Revenues (Notes)</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>11</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>2104100 - Disclosure - Leases (Notes)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.vailresorts.com/role/LeasesNotes</Role>
      <ShortName>Leases (Notes)</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>12</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>2105100 - Disclosure - Net Income Per Common Share</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/NetIncomePerCommonShare</Role>
      <ShortName>Net Income Per Common Share</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>13</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>2106100 - Disclosure - Long-Term Debt</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LongTermDebt</Role>
      <ShortName>Long-Term Debt</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>14</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>2107100 - Disclosure - Acquisitions</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/Acquisitions</Role>
      <ShortName>Acquisitions</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>15</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>2109100 - Disclosure - Supplementary Balance Sheet Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation</Role>
      <ShortName>Supplementary Balance Sheet Information</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>16</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>2111100 - Disclosure - Investments in Affiliates</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/InvestmentsInAffiliates</Role>
      <ShortName>Investments in Affiliates</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>17</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>2112100 - Disclosure - Fair Value Measurements</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/FairValueMeasurements</Role>
      <ShortName>Fair Value Measurements</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>18</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>2113100 - Disclosure - Income Taxes</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxes</Role>
      <ShortName>Income Taxes</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>19</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>2114100 - Disclosure - Related Party Transactions</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RelatedPartyTransactions</Role>
      <ShortName>Related Party Transactions</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>20</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>2115100 - Disclosure - Commitments and Contingencies</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/CommitmentsAndContingencies</Role>
      <ShortName>Commitments and Contingencies</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>21</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>2116100 - Disclosure - Segment Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SegmentInformation</Role>
      <ShortName>Segment Information</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>22</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>2117100 - Disclosure - Selected Quarterly Financial Data</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SelectedQuarterlyFinancialData</Role>
      <ShortName>Selected Quarterly Financial Data</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>23</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>2118100 - Disclosure - Stock Repurchase Plan</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockRepurchasePlan</Role>
      <ShortName>Stock Repurchase Plan</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>24</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>2119100 - Disclosure - Stock Compensation Plan</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlan</Role>
      <ShortName>Stock Compensation Plan</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>25</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>2120100 - Disclosure - Retirement and Profit Sharing Plans</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RetirementAndProfitSharingPlans</Role>
      <ShortName>Retirement and Profit Sharing Plans</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>26</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>2202201 - Disclosure - Summary of Significant Accounting Policies (Policies)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies</Role>
      <ShortName>Summary of Significant Accounting Policies (Policies)</ShortName>
      <MenuCategory>Policies</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies</ParentRole>
      <Position>27</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>2302302 - Disclosure - Summary of Significant Accounting Policies (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables</Role>
      <ShortName>Summary of Significant Accounting Policies (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies</ParentRole>
      <Position>28</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>2303301 - Disclosure - Revenues (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RevenuesTables</Role>
      <ShortName>Revenues (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/RevenuesNotes</ParentRole>
      <Position>29</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>2304301 - Disclosure - Leases (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LeasesTables</Role>
      <ShortName>Leases (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/LeasesNotes</ParentRole>
      <Position>30</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>2305301 - Disclosure - Net Income Per Common Share (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/NetIncomePerCommonShareTables</Role>
      <ShortName>Net Income Per Common Share (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/NetIncomePerCommonShare</ParentRole>
      <Position>31</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>2306301 - Disclosure - Long-Term Debt (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LongTermDebtTables</Role>
      <ShortName>Long-Term Debt (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/LongTermDebt</ParentRole>
      <Position>32</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>2307301 - Disclosure - Acquisitions (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/AcquisitionsTables</Role>
      <ShortName>Acquisitions (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/Acquisitions</ParentRole>
      <Position>33</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>2309301 - Disclosure - Supplementary Balance Sheet Information (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</Role>
      <ShortName>Supplementary Balance Sheet Information (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation</ParentRole>
      <Position>34</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>2311301 - Disclosure - Investments in Affiliates (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/InvestmentsInAffiliatesTables</Role>
      <ShortName>Investments in Affiliates (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/InvestmentsInAffiliates</ParentRole>
      <Position>35</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>2312301 - Disclosure - Fair Value Measurements (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/FairValueMeasurementsTables</Role>
      <ShortName>Fair Value Measurements (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/FairValueMeasurements</ParentRole>
      <Position>36</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>2313301 - Disclosure - Income Taxes (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesTables</Role>
      <ShortName>Income Taxes (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxes</ParentRole>
      <Position>37</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>2316301 - Disclosure - Segment Information (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SegmentInformationTables</Role>
      <ShortName>Segment Information (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SegmentInformation</ParentRole>
      <Position>38</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>2317301 - Disclosure - Selected Quarterly Financial Data (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables</Role>
      <ShortName>Selected Quarterly Financial Data (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SelectedQuarterlyFinancialData</ParentRole>
      <Position>39</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>2319301 - Disclosure - Stock Compensation Plan (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanTables</Role>
      <ShortName>Stock Compensation Plan (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlan</ParentRole>
      <Position>40</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>2402403 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails</Role>
      <ShortName>Summary of Significant Accounting Policies (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables</ParentRole>
      <Position>41</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>2402404 - Disclosure - Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails</Role>
      <ShortName>Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables</ParentRole>
      <Position>42</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>2402405 - Disclosure - Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails</Role>
      <ShortName>Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables</ParentRole>
      <Position>43</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>2403402 - Disclosure - Revenues (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RevenuesDetails</Role>
      <ShortName>Revenues (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/RevenuesTables</ParentRole>
      <Position>44</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>2403403 - Disclosure - Revenues Contract Balances (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RevenuesContractBalancesDetails</Role>
      <ShortName>Revenues Contract Balances (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>45</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>2403404 - Disclosure - Revenues Costs to Obtain Contracts with Customers (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails</Role>
      <ShortName>Revenues Costs to Obtain Contracts with Customers (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>46</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>2404402 - Disclosure - Leases (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LeasesDetails</Role>
      <ShortName>Leases (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/LeasesTables</ParentRole>
      <Position>47</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>2405402 - Disclosure - Net Income Per Common Share (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/NetIncomePerCommonShareDetails</Role>
      <ShortName>Net Income Per Common Share (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/NetIncomePerCommonShareTables</ParentRole>
      <Position>48</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>2406402 - Disclosure - Long-Term Debt (Schedule Of Debt Instruments) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails</Role>
      <ShortName>Long-Term Debt (Schedule Of Debt Instruments) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/LongTermDebtTables</ParentRole>
      <Position>49</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R50.htm</HtmlFileName>
      <LongName>2406403 - Disclosure - Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails</Role>
      <ShortName>Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/LongTermDebtTables</ParentRole>
      <Position>50</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R51.htm</HtmlFileName>
      <LongName>2407402 - Disclosure - Acquisitions (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/AcquisitionsNarrativeDetails</Role>
      <ShortName>Acquisitions (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/AcquisitionsTables</ParentRole>
      <Position>51</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R52.htm</HtmlFileName>
      <LongName>2407403 - Disclosure - Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails</Role>
      <ShortName>Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/AcquisitionsTables</ParentRole>
      <Position>52</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R53.htm</HtmlFileName>
      <LongName>2407404 - Disclosure - Acquisitions (Summary Pro Forma Financial Information) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails</Role>
      <ShortName>Acquisitions (Summary Pro Forma Financial Information) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/AcquisitionsTables</ParentRole>
      <Position>53</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R54.htm</HtmlFileName>
      <LongName>2409402 - Disclosure - Supplementary Balance Sheet Information (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>54</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R55.htm</HtmlFileName>
      <LongName>2409403 - Disclosure - Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>55</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R56.htm</HtmlFileName>
      <LongName>2409404 - Disclosure - Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails</Role>
      <ShortName>Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>56</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R57.htm</HtmlFileName>
      <LongName>2409405 - Disclosure - Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>57</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R58.htm</HtmlFileName>
      <LongName>2409406 - Disclosure - Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>58</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R59.htm</HtmlFileName>
      <LongName>2409407 - Disclosure - Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>59</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R60.htm</HtmlFileName>
      <LongName>2409408 - Disclosure - Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails</Role>
      <ShortName>Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables</ParentRole>
      <Position>60</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R61.htm</HtmlFileName>
      <LongName>2411402 - Disclosure - Investments in Affiliates (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails</Role>
      <ShortName>Investments in Affiliates (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/InvestmentsInAffiliatesTables</ParentRole>
      <Position>61</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R62.htm</HtmlFileName>
      <LongName>2412402 - Disclosure - Fair Value Measurements (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/FairValueMeasurementsDetails</Role>
      <ShortName>Fair Value Measurements (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/FairValueMeasurementsTables</ParentRole>
      <Position>62</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R63.htm</HtmlFileName>
      <LongName>2413402 - Disclosure - Income Taxes (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails</Role>
      <ShortName>Income Taxes (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxesTables</ParentRole>
      <Position>63</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R64.htm</HtmlFileName>
      <LongName>2413403 - Disclosure - Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails</Role>
      <ShortName>Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxesTables</ParentRole>
      <Position>64</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R65.htm</HtmlFileName>
      <LongName>2413404 - Disclosure - Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails</Role>
      <ShortName>Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxesTables</ParentRole>
      <Position>65</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R66.htm</HtmlFileName>
      <LongName>2413405 - Disclosure - Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails</Role>
      <ShortName>Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxesTables</ParentRole>
      <Position>66</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R67.htm</HtmlFileName>
      <LongName>2413406 - Disclosure - Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails</Role>
      <ShortName>Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/IncomeTaxesTables</ParentRole>
      <Position>67</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R68.htm</HtmlFileName>
      <LongName>2413407 - Disclosure - Income Taxes Components of Income before Income Taxes (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails</Role>
      <ShortName>Income Taxes Components of Income before Income Taxes (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>68</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R69.htm</HtmlFileName>
      <LongName>2413408 - Disclosure - Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails</Role>
      <ShortName>Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>69</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R70.htm</HtmlFileName>
      <LongName>2414401 - Disclosure - Related Party Transactions (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RelatedPartyTransactionsDetails</Role>
      <ShortName>Related Party Transactions (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/RelatedPartyTransactions</ParentRole>
      <Position>70</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R71.htm</HtmlFileName>
      <LongName>2415402 - Disclosure - Commitments and Contingencies (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails</Role>
      <ShortName>Commitments and Contingencies (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/CommitmentsAndContingencies</ParentRole>
      <Position>71</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R72.htm</HtmlFileName>
      <LongName>2416402 - Disclosure - Segment Information (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SegmentInformationDetails</Role>
      <ShortName>Segment Information (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SegmentInformationTables</ParentRole>
      <Position>72</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R73.htm</HtmlFileName>
      <LongName>2416403 - Disclosure - Segment Information Geographic Information (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails</Role>
      <ShortName>Segment Information Geographic Information (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>73</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R74.htm</HtmlFileName>
      <LongName>2417402 - Disclosure - Selected Quarterly Financial Data (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails</Role>
      <ShortName>Selected Quarterly Financial Data (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables</ParentRole>
      <Position>74</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R75.htm</HtmlFileName>
      <LongName>2418401 - Disclosure - Stock Repurchase Plan (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockRepurchasePlanDetails</Role>
      <ShortName>Stock Repurchase Plan (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockRepurchasePlan</ParentRole>
      <Position>75</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R76.htm</HtmlFileName>
      <LongName>2419402 - Disclosure - Stock Compensation Plan (Narrative) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails</Role>
      <ShortName>Stock Compensation Plan (Narrative) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlanTables</ParentRole>
      <Position>76</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R77.htm</HtmlFileName>
      <LongName>2419403 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails</Role>
      <ShortName>Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlanTables</ParentRole>
      <Position>77</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R78.htm</HtmlFileName>
      <LongName>2419404 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails</Role>
      <ShortName>Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlanTables</ParentRole>
      <Position>78</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R79.htm</HtmlFileName>
      <LongName>2419405 - Disclosure - Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails</Role>
      <ShortName>Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlanTables</ParentRole>
      <Position>79</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R80.htm</HtmlFileName>
      <LongName>2419406 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails</Role>
      <ShortName>Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/StockCompensationPlanTables</ParentRole>
      <Position>80</Position>
    </Report>
    <Report instance="mtn2020073110-k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R81.htm</HtmlFileName>
      <LongName>2420401 - Disclosure - Retirement and Profit Sharing Plans (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails</Role>
      <ShortName>Retirement and Profit Sharing Plans (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.vailresorts.com/role/RetirementAndProfitSharingPlans</ParentRole>
      <Position>81</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <Logs>
    <Log type="Warning">[ix-0514-Hidden-Fact-Eligible-For-Transform] WARN: 70 fact(s) appearing in ix:hidden were eligible for transformation: dei:CurrentFiscalYearEndDate, mtn:ExchangeableSharesParValuePerShare, mtn:ExchangeableSharesSharesIssued, mtn:LesseeOperatingAndFinanceLeaseTerm, us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent, us-gaap:CommonStockParOrStatedValuePerShare, us-gaap:CommonStockSharesAuthorized, us-gaap:CommonStockSharesIssued, us-gaap:DebtInstrumentBasisSpreadOnVariableRate1, us-gaap:DebtInstrumentDescriptionOfVariableRateBasis, us-gaap:DebtInstrumentMaturityDateRangeEnd1, us-gaap:DebtInstrumentMaturityDateRangeStart1, us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive, us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour, us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree, us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo, us-gaap:InventoryValuationReserves, us-gaap:LeaseExpirationDate1, us-gaap:PreferredStockParOrStatedValuePerShare, us-gaap:PreferredStockSharesAuthorized, us-gaap:PreferredStockSharesIssued, us-gaap:PreferredStockSharesOutstanding, us-gaap:PropertyPlantAndEquipmentUsefulLife, us-gaap:RevenueFromRelatedParties, us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum, us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum, us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1, us-gaap:TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit, us-gaap:TreasuryStockShares</Log>
    <Log type="Warning">[ix-0514-Hidden-Fact-Not-Referenced] WARN: 3 fact(s) appearing in ix:hidden were not referenced by any -sec-ix-hidden style property: us-gaap:OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList</Log>
  </Logs>
  <InputFiles>
    <File doctype="10-K" original="mtn2020073110-k.htm">mtn2020073110-k.htm</File>
    <File>exhibit1017.htm</File>
    <File>exhibit1018.htm</File>
    <File>exhibit212020-q4.htm</File>
    <File>exhibit232020-q4.htm</File>
    <File>exhibit3112020-q4.htm</File>
    <File>exhibit3122020-q4.htm</File>
    <File>exhibit322020-q4.htm</File>
    <File>mtn-20200731.xsd</File>
    <File>mtn-20200731_cal.xml</File>
    <File>mtn-20200731_def.xml</File>
    <File>mtn-20200731_lab.xml</File>
    <File>mtn-20200731_pre.xml</File>
  </InputFiles>
  <SupplementalFiles>
    <File>stockgraph2020a01.jpg</File>
    <File>vaila08.jpg</File>
    <File>vrmapfy20.jpg</File>
  </SupplementalFiles>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/currency/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://fasb.org/us-gaap/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.sec.gov/country/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://fasb.org/srt/2020-01-31</BaseTaxonomy>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2020-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>103
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "mtn2020073110-k.htm": {
   "axisCustom": 2,
   "axisStandard": 21,
   "contextCount": 315,
   "dts": {
    "calculationLink": {
     "local": [
      "mtn-20200731_cal.xml"
     ]
    },
    "definitionLink": {
     "local": [
      "mtn-20200731_def.xml"
     ],
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-eedm-def-2020-01-31.xml",
      "http://xbrl.fasb.org/srt/2020/elts/srt-eedm1-def-2020-01-31.xml"
     ]
    },
    "inline": {
     "local": [
      "mtn2020073110-k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "mtn-20200731_lab.xml"
     ],
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-doc-2020-01-31.xml",
      "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "mtn-20200731_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-ref-2020-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "mtn-20200731.xsd"
     ],
     "remote": [
      "http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd",
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-roles-2020-01-31.xsd",
      "https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd",
      "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd",
      "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd",
      "https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd",
      "http://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd",
      "https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd",
      "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd",
      "http://www.xbrl.org/lrr/role/reference-2009-12-16.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-parts-codification-2020-01-31.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 801,
   "entityCount": 1,
   "hidden": {
    "http://fasb.org/us-gaap/2020-01-31": 67,
    "http://www.vailresorts.com/20200731": 5,
    "http://xbrl.sec.gov/dei/2020-01-31": 5,
    "total": 77
   },
   "keyCustom": 130,
   "keyStandard": 503,
   "memberCustom": 66,
   "memberStandard": 33,
   "nsprefix": "mtn",
   "nsuri": "http://www.vailresorts.com/20200731",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:Security12bTitle",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "0001000 - Document - Document And Entity Information",
     "role": "http://www.vailresorts.com/role/DocumentAndEntityInformation",
     "shortName": "Document And Entity Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:Security12bTitle",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R10": {
     "firstAnchor": {
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SignificantAccountingPoliciesTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2102100 - Disclosure - Summary of Significant Accounting Policies",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies",
     "shortName": "Summary of Significant Accounting Policies",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SignificantAccountingPoliciesTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R11": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:RevenueFromContractWithCustomerTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2103100 - Disclosure - Revenues (Notes)",
     "role": "http://www.vailresorts.com/role/RevenuesNotes",
     "shortName": "Revenues (Notes)",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:RevenueFromContractWithCustomerTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R12": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:LeasesOfLesseeDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2104100 - Disclosure - Leases (Notes)",
     "role": "http://www.vailresorts.com/role/LeasesNotes",
     "shortName": "Leases (Notes)",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:LeasesOfLesseeDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R13": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EarningsPerShareTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2105100 - Disclosure - Net Income Per Common Share",
     "role": "http://www.vailresorts.com/role/NetIncomePerCommonShare",
     "shortName": "Net Income Per Common Share",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EarningsPerShareTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R14": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DebtDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2106100 - Disclosure - Long-Term Debt",
     "role": "http://www.vailresorts.com/role/LongTermDebt",
     "shortName": "Long-Term Debt",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DebtDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R15": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:BusinessAcquisitionProFormaInformationTextBlock",
      "reportCount": 1,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2107100 - Disclosure - Acquisitions",
     "role": "http://www.vailresorts.com/role/Acquisitions",
     "shortName": "Acquisitions",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "lang": "en-US",
      "name": "us-gaap:BusinessCombinationDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R16": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SupplementalBalanceSheetDisclosuresTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2109100 - Disclosure - Supplementary Balance Sheet Information",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation",
     "shortName": "Supplementary Balance Sheet Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SupplementalBalanceSheetDisclosuresTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R17": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EquityMethodInvestmentsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2111100 - Disclosure - Investments in Affiliates",
     "role": "http://www.vailresorts.com/role/InvestmentsInAffiliates",
     "shortName": "Investments in Affiliates",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EquityMethodInvestmentsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R18": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:FairValueDisclosuresTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2112100 - Disclosure - Fair Value Measurements",
     "role": "http://www.vailresorts.com/role/FairValueMeasurements",
     "shortName": "Fair Value Measurements",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:FairValueDisclosuresTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R19": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:IncomeTaxDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2113100 - Disclosure - Income Taxes",
     "role": "http://www.vailresorts.com/role/IncomeTaxes",
     "shortName": "Income Taxes",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:IncomeTaxDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R2": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:CashAndCashEquivalentsAtCarryingValue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1001000 - Statement - Consolidated Balance Sheets",
     "role": "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
     "shortName": "Consolidated Balance Sheets",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:CashAndCashEquivalentsAtCarryingValue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R20": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:RelatedPartyTransactionsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2114100 - Disclosure - Related Party Transactions",
     "role": "http://www.vailresorts.com/role/RelatedPartyTransactions",
     "shortName": "Related Party Transactions",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:RelatedPartyTransactionsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R21": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:CommitmentsAndContingenciesDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2115100 - Disclosure - Commitments and Contingencies",
     "role": "http://www.vailresorts.com/role/CommitmentsAndContingencies",
     "shortName": "Commitments and Contingencies",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:CommitmentsAndContingenciesDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R22": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SegmentReportingDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2116100 - Disclosure - Segment Information",
     "role": "http://www.vailresorts.com/role/SegmentInformation",
     "shortName": "Segment Information",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:SegmentReportingDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R23": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:QuarterlyFinancialInformationTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2117100 - Disclosure - Selected Quarterly Financial Data",
     "role": "http://www.vailresorts.com/role/SelectedQuarterlyFinancialData",
     "shortName": "Selected Quarterly Financial Data",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:QuarterlyFinancialInformationTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R24": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfTreasuryStockByClassTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2118100 - Disclosure - Stock Repurchase Plan",
     "role": "http://www.vailresorts.com/role/StockRepurchasePlan",
     "shortName": "Stock Repurchase Plan",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfTreasuryStockByClassTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R25": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2119100 - Disclosure - Stock Compensation Plan",
     "role": "http://www.vailresorts.com/role/StockCompensationPlan",
     "shortName": "Stock Compensation Plan",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R26": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "mtn:RetirementAndProfitSharingTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2120100 - Disclosure - Retirement and Profit Sharing Plans",
     "role": "http://www.vailresorts.com/role/RetirementAndProfitSharingPlans",
     "shortName": "Retirement and Profit Sharing Plans",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "mtn:RetirementAndProfitSharingTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R27": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ConsolidationPolicyTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2202201 - Disclosure - Summary of Significant Accounting Policies (Policies)",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies",
     "shortName": "Summary of Significant Accounting Policies (Policies)",
     "subGroupType": "policies",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ConsolidationPolicyTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R28": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "us-gaap:PropertyPlantAndEquipmentPolicyTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "mtn:ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2302302 - Disclosure - Summary of Significant Accounting Policies (Tables)",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables",
     "shortName": "Summary of Significant Accounting Policies (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "us-gaap:PropertyPlantAndEquipmentPolicyTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "mtn:ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R29": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DisaggregationOfRevenueTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2303301 - Disclosure - Revenues (Tables)",
     "role": "http://www.vailresorts.com/role/RevenuesTables",
     "shortName": "Revenues (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:DisaggregationOfRevenueTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R3": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "INF",
      "first": true,
      "lang": null,
      "name": "mtn:ExchangeableSharesParValuePerShare",
      "reportCount": 1,
      "unitRef": "usdPerShare",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1001501 - Statement - Consolidated Balance Sheets (Parenthetical)",
     "role": "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical",
     "shortName": "Consolidated Balance Sheets (Parenthetical)",
     "subGroupType": "parenthetical",
     "uniqueAnchor": null
    },
    "R30": {
     "firstAnchor": {
      "ancestors": [
       "us-gaap:LeasesOfLesseeDisclosureTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:LeaseCostTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2304301 - Disclosure - Leases (Tables)",
     "role": "http://www.vailresorts.com/role/LeasesTables",
     "shortName": "Leases (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "us-gaap:LeasesOfLesseeDisclosureTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:LeaseCostTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R31": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2305301 - Disclosure - Net Income Per Common Share (Tables)",
     "role": "http://www.vailresorts.com/role/NetIncomePerCommonShareTables",
     "shortName": "Net Income Per Common Share (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R32": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfDebtInstrumentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2306301 - Disclosure - Long-Term Debt (Tables)",
     "role": "http://www.vailresorts.com/role/LongTermDebtTables",
     "shortName": "Long-Term Debt (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfDebtInstrumentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R33": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:BusinessAcquisitionProFormaInformationTextBlock",
      "reportCount": 1,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2307301 - Disclosure - Acquisitions (Tables)",
     "role": "http://www.vailresorts.com/role/AcquisitionsTables",
     "shortName": "Acquisitions (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member",
      "decimals": null,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R34": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:PropertyPlantAndEquipmentTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2309301 - Disclosure - Supplementary Balance Sheet Information (Tables)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables",
     "shortName": "Supplementary Balance Sheet Information (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:PropertyPlantAndEquipmentTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R35": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EquityMethodInvestmentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2311301 - Disclosure - Investments in Affiliates (Tables)",
     "role": "http://www.vailresorts.com/role/InvestmentsInAffiliatesTables",
     "shortName": "Investments in Affiliates (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:EquityMethodInvestmentsTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R36": {
     "firstAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2312301 - Disclosure - Fair Value Measurements (Tables)",
     "role": "http://www.vailresorts.com/role/FairValueMeasurementsTables",
     "shortName": "Fair Value Measurements (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R37": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2313301 - Disclosure - Income Taxes (Tables)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesTables",
     "shortName": "Income Taxes (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R38": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2316301 - Disclosure - Segment Information (Tables)",
     "role": "http://www.vailresorts.com/role/SegmentInformationTables",
     "shortName": "Segment Information (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R39": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2317301 - Disclosure - Selected Quarterly Financial Data (Tables)",
     "role": "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables",
     "shortName": "Selected Quarterly Financial Data (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R4": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:MountainandLodgingservicesandotherrevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1002000 - Statement - Consolidated Statements Of Operations",
     "role": "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
     "shortName": "Consolidated Statements Of Operations",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:MountainandLodgingservicesandotherrevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R40": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2319301 - Disclosure - Stock Compensation Plan (Tables)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanTables",
     "shortName": "Stock Compensation Plan (Tables)",
     "subGroupType": "tables",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R41": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "mtn:InterestRateSwapNotionalAmount",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2402403 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
     "shortName": "Summary of Significant Accounting Policies (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "ix:continuation",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-6",
      "lang": null,
      "name": "us-gaap:GoodwillAndIntangibleAssetImpairment",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R42": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:PropertyPlantAndEquipmentPolicyTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:PropertyPlantAndEquipmentUsefulLife",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2402404 - Disclosure - Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
     "shortName": "Summary of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:PropertyPlantAndEquipmentPolicyTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_SoftwareAndSoftwareDevelopmentCostsMember",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:PropertyPlantAndEquipmentUsefulLife",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R43": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AllocatedShareBasedCompensationExpense",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2402405 - Disclosure - Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details)",
     "role": "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails",
     "shortName": "Summary of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AllocatedShareBasedCompensationExpense",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R44": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "mtn:SeasonPassCreditDeferralRevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2403402 - Disclosure - Revenues (Details)",
     "role": "http://www.vailresorts.com/role/RevenuesDetails",
     "shortName": "Revenues (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "mtn:SeasonPassCreditDeferralRevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R45": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:DeferredRevenueCurrent",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2403403 - Disclosure - Revenues Contract Balances (Details)",
     "role": "http://www.vailresorts.com/role/RevenuesContractBalancesDetails",
     "shortName": "Revenues Contract Balances (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "lang": null,
      "name": "us-gaap:ContractWithCustomerLiability",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R46": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:CapitalizedContractCostNet",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2403404 - Disclosure - Revenues Costs to Obtain Contracts with Customers (Details)",
     "role": "http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails",
     "shortName": "Revenues Costs to Obtain Contracts with Customers (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:CapitalizedContractCostNet",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R47": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:OperatingLeaseLiabilityCurrent",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2404402 - Disclosure - Leases (Details)",
     "role": "http://www.vailresorts.com/role/LeasesDetails",
     "shortName": "Leases (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "mtn:ScheduleofFutureMinimumLeasePaymentsTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:OperatingLeasesFutureMinimumPaymentsDueCurrent",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R48": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4QTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:NetIncomeLoss",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2405402 - Disclosure - Net Income Per Common Share (Details)",
     "role": "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
     "shortName": "Net Income Per Common Share (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:WeightedAverageNumberofSharesOutstandingCommon",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R49": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2406402 - Disclosure - Long-Term Debt (Schedule Of Debt Instruments) (Details)",
     "role": "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
     "shortName": "Long-Term Debt (Schedule Of Debt Instruments) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "lang": null,
      "name": "mtn:VHICreditAgreementWaiverPeriodMinimumLiquidity",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R5": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4QTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:ProfitLoss",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1003000 - Statement - Consolidated Statement of Comprehensive Income",
     "role": "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
     "shortName": "Consolidated Statement of Comprehensive Income",
     "subGroupType": "",
     "uniqueAnchor": null
    },
    "R50": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:SaleLeasebackTransactionNetProceedsFinancingActivities",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2406403 - Disclosure - Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details)",
     "role": "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
     "shortName": "Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:SaleLeasebackTransactionNetProceedsFinancingActivities",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R51": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2018Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:GoodwillPurchaseAccountingAdjustments",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2407402 - Disclosure - Acquisitions (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
     "shortName": "Acquisitions (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member",
      "decimals": "-5",
      "lang": null,
      "name": "us-gaap:GoodwillPurchaseAccountingAdjustments",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R52": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:IndefiniteLivedTrademarks",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2407403 - Disclosure - Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)",
     "role": "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
     "shortName": "Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_PeakResortsInc.Member",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R53": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:BusinessAcquisitionsProFormaRevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2407404 - Disclosure - Acquisitions (Summary Pro Forma Financial Information) (Details)",
     "role": "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
     "shortName": "Acquisitions (Summary Pro Forma Financial Information) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:BusinessAcquisitionsProFormaRevenue",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R54": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AssetImpairmentCharges",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409402 - Disclosure - Supplementary Balance Sheet Information (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails",
     "shortName": "Supplementary Balance Sheet Information (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": null
    },
    "R55": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:Depreciation",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409403 - Disclosure - Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails",
     "shortName": "Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:PropertyPlantAndEquipmentTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:LandAndLandImprovementsGross",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R56": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4_us-gaap_BusinessAcquisitionAxis_mtn_CanyonsMember",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:CapitalLeasedAssetsLand",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409404 - Disclosure - Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails",
     "shortName": "Supplementary Balance Sheet Information Composition of Property, Plant and Equipment under Capital Lease (Details)",
     "subGroupType": "details",
     "uniqueAnchor": null
    },
    "R57": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AssetImpairmentCharges",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409405 - Disclosure - Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
     "shortName": "Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:GoodwillGross",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R58": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfGoodwillTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2019Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:Goodwill",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409406 - Disclosure - Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails",
     "shortName": "Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfGoodwillTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:GoodwillImpairmentLoss",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R59": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AccountsPayableTradeCurrent",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409407 - Disclosure - Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails",
     "shortName": "Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:AccountsPayableTradeCurrent",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R6": {
     "firstAnchor": null,
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1003001 - Statement - Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical)",
     "role": "http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical",
     "shortName": "Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical)",
     "subGroupType": "parenthetical",
     "uniqueAnchor": null
    },
    "R60": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "mtn:ScheduleOfOtherLongTermLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:PrivateClubDeferredInitiationFeesAndDeposits",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2409408 - Disclosure - Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details)",
     "role": "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails",
     "shortName": "Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "mtn:ScheduleOfOtherLongTermLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:PrivateClubDeferredInitiationFeesAndDeposits",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R61": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:EquityMethodInvestments",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2411402 - Disclosure - Investments in Affiliates (Details)",
     "role": "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
     "shortName": "Investments in Affiliates (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:EquityMethodInvestments",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R62": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:BusinessCombinationContingentConsiderationArrangementsDescription",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2412402 - Disclosure - Fair Value Measurements (Details)",
     "role": "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
     "shortName": "Fair Value Measurements (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:BusinessCombinationContingentConsiderationArrangementsDescription",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    },
    "R63": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "mtn:Netoperatinglosscarryback",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413402 - Disclosure - Income Taxes (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
     "shortName": "Income Taxes (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "mtn:Netoperatinglosscarryback",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R64": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413403 - Disclosure - Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails",
     "shortName": "Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:DeferredTaxLiabilitiesPropertyPlantAndEquipment",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R65": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:CurrentFederalTaxExpenseBenefit",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413404 - Disclosure - Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails",
     "shortName": "Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:CurrentFederalTaxExpenseBenefit",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R66": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "3",
      "first": true,
      "lang": null,
      "name": "us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413405 - Disclosure - Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails",
     "shortName": "Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "3",
      "first": true,
      "lang": null,
      "name": "us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     }
    },
    "R67": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:IncomeTaxExaminationPenaltiesAndInterestExpense",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413406 - Disclosure - Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails",
     "shortName": "Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:SummaryOfIncomeTaxContingenciesTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2017Q4",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:UnrecognizedTaxBenefits",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R68": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413407 - Disclosure - Income Taxes Components of Income before Income Taxes (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails",
     "shortName": "Income Taxes Components of Income before Income Taxes (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R69": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "mtn:BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:DeferredIncomeTaxAssetsNet",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2413408 - Disclosure - Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details)",
     "role": "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails",
     "shortName": "Income Taxes Presentation of Net Deferred Tax Liabilities and Assets (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "mtn:BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:DeferredIncomeTaxAssetsNet",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R7": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2017Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1004000 - Statement - Consolidated Statements Of Stockholders' Equity",
     "role": "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
     "shortName": "Consolidated Statements Of Stockholders' Equity",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2017Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R70": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember",
      "decimals": "INF",
      "first": true,
      "lang": null,
      "name": "mtn:RightToAppointNumberOfDirectors",
      "reportCount": 1,
      "unique": true,
      "unitRef": "director",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2414401 - Disclosure - Related Party Transactions (Details)",
     "role": "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails",
     "shortName": "Related Party Transactions (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mtn_BeaverCreekResortCompanyOfColoradoMember",
      "decimals": "INF",
      "first": true,
      "lang": null,
      "name": "mtn:RightToAppointNumberOfDirectors",
      "reportCount": 1,
      "unique": true,
      "unitRef": "director",
      "xsiNil": "false"
     }
    },
    "R71": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:LettersOfCreditOutstandingAmount",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2415402 - Disclosure - Commitments and Contingencies (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
     "shortName": "Commitments and Contingencies (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:LettersOfCreditOutstandingAmount",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R72": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:MountainRevenueNet",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2416402 - Disclosure - Segment Information (Details)",
     "role": "http://www.vailresorts.com/role/SegmentInformationDetails",
     "shortName": "Segment Information (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:MountainExpensesNet",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R73": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4QTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:Revenues",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2416403 - Disclosure - Segment Information Geographic Information (Details)",
     "role": "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails",
     "shortName": "Segment Information Geographic Information (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "us-gaap:RevenueFromExternalCustomersByGeographicAreasTableTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD_srt_StatementGeographicalAxis_us-gaap_CanadaRevenueAgencyMember",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:Revenues",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R74": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:MountainRevenueNet",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2417402 - Disclosure - Selected Quarterly Financial Data (Details)",
     "role": "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails",
     "shortName": "Selected Quarterly Financial Data (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4QTD",
      "decimals": "-3",
      "lang": null,
      "name": "us-gaap:OperatingIncomeLoss",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R75": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "0",
      "first": true,
      "lang": null,
      "name": "us-gaap:TreasuryStockSharesAcquired",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2418401 - Disclosure - Stock Repurchase Plan (Details)",
     "role": "http://www.vailresorts.com/role/StockRepurchasePlanDetails",
     "shortName": "Stock Repurchase Plan (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "0",
      "first": true,
      "lang": null,
      "name": "us-gaap:TreasuryStockSharesAcquired",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R76": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2419402 - Disclosure - Stock Compensation Plan (Narrative) (Details)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
     "shortName": "Stock Compensation Plan (Narrative) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-5",
      "first": true,
      "lang": null,
      "name": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R77": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "INF",
      "first": true,
      "lang": null,
      "name": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2419403 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails",
     "shortName": "Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "ix:continuation",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "INF",
      "first": true,
      "lang": null,
      "name": "us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     }
    },
    "R78": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2019Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber",
      "reportCount": 1,
      "unitRef": "shares",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2419404 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails",
     "shortName": "Stock Compensation Plan (Schedule Of Share Based Compensation Option And SARs Award Activity) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementSarsGrantedInPeriod",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R79": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber",
      "reportCount": 1,
      "unitRef": "shares",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2419405 - Disclosure - Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails",
     "shortName": "Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2020Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R8": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "us-gaap:ProfitLoss",
      "reportCount": 1,
      "unitRef": "usd",
      "xsiNil": "false"
     },
     "groupType": "statement",
     "isDefault": "false",
     "longName": "1005000 - Statement - Consolidated Statements Of Cash Flows",
     "role": "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
     "shortName": "Consolidated Statements Of Cash Flows",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "-3",
      "lang": null,
      "name": "mtn:RealEstateCostofSales",
      "reportCount": 1,
      "unique": true,
      "unitRef": "usd",
      "xsiNil": "false"
     }
    },
    "R80": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2419406 - Disclosure - Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details)",
     "role": "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails",
     "shortName": "Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "td",
       "tr",
       "table",
       "div",
       "div",
       "us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FI2019Q4_us-gaap_AwardTypeAxis_mtn_RestrictedStockUnitsRsusMember",
      "decimals": "-3",
      "first": true,
      "lang": null,
      "name": "mtn:ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber",
      "reportCount": 1,
      "unique": true,
      "unitRef": "shares",
      "xsiNil": "false"
     }
    },
    "R81": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "2",
      "first": true,
      "lang": null,
      "name": "mtn:DefinedContributionPlanEmployeeContributionPercentage",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2420401 - Disclosure - Retirement and Profit Sharing Plans (Details)",
     "role": "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails",
     "shortName": "Retirement and Profit Sharing Plans (Details)",
     "subGroupType": "details",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "span",
       "div",
       "ix:continuation",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": "2",
      "first": true,
      "lang": null,
      "name": "mtn:DefinedContributionPlanEmployeeContributionPercentage",
      "reportCount": 1,
      "unique": true,
      "unitRef": "number",
      "xsiNil": "false"
     }
    },
    "R9": {
     "firstAnchor": {
      "ancestors": [
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "disclosure",
     "isDefault": "false",
     "longName": "2101100 - Disclosure - Organization and Business",
     "role": "http://www.vailresorts.com/role/OrganizationAndBusiness",
     "shortName": "Organization and Business",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "div",
       "div",
       "body",
       "html"
      ],
      "baseRef": "mtn2020073110-k.htm",
      "contextRef": "FD2020Q4YTD",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 110,
   "tag": {
    "country_US": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "UNITED STATES",
        "terseLabel": "UNITED STATES"
       }
      }
     },
     "localname": "US",
     "nsuri": "http://xbrl.sec.gov/country/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "currency_AllCurrenciesDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "All Currencies [Domain]",
        "terseLabel": "All Currencies [Domain]"
       }
      }
     },
     "localname": "AllCurrenciesDomain",
     "nsuri": "http://xbrl.sec.gov/currency/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag",
        "terseLabel": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code",
        "terseLabel": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CurrentFiscalYearEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "End date of current fiscal year in the format --MM-DD.",
        "label": "Current Fiscal Year End Date",
        "terseLabel": "Current Fiscal Year End Date"
       }
      }
     },
     "localname": "CurrentFiscalYearEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r643",
      "r644",
      "r645"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an annual report.",
        "label": "Document Annual Report",
        "terseLabel": "Document Annual Report"
       }
      }
     },
     "localname": "DocumentAnnualReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentFiscalPeriodFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.",
        "label": "Document Fiscal Period Focus",
        "terseLabel": "Document Fiscal Period Focus"
       }
      }
     },
     "localname": "DocumentFiscalPeriodFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "fiscalPeriodItemType"
    },
    "dei_DocumentFiscalYearFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.",
        "label": "Document Fiscal Year Focus",
        "terseLabel": "Document Fiscal Year Focus"
       }
      }
     },
     "localname": "DocumentFiscalYearFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date",
        "terseLabel": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r646"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a transition report.",
        "label": "Document Transition Report",
        "terseLabel": "Document Transition Report"
       }
      }
     },
     "localname": "DocumentTransitionReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type",
        "terseLabel": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One",
        "terseLabel": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town",
        "terseLabel": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code",
        "terseLabel": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province",
        "terseLabel": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key",
        "terseLabel": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.",
        "label": "Entity Common Stock, Shares Outstanding",
        "terseLabel": "Entity Common Stock, Shares Outstanding"
       }
      }
     },
     "localname": "EntityCommonStockSharesOutstanding",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "sharesItemType"
    },
    "dei_EntityCurrentReportingStatus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Current Reporting Status",
        "terseLabel": "Entity Current Reporting Status"
       }
      }
     },
     "localname": "EntityCurrentReportingStatus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "All the names of the entities being reported upon in a document. Any legal structure used to conduct activities or to hold assets. Some examples of such structures are corporations, partnerships, limited liability companies, grantor trusts, and other trusts. This item does not include business and geographical segments which are included in the geographical or business segments domains.",
        "label": "Entity [Domain]",
        "terseLabel": "Entity [Domain]"
       }
      }
     },
     "localname": "EntityDomain",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company",
        "terseLabel": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number",
        "terseLabel": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Filer Category",
        "terseLabel": "Entity Filer Category"
       }
      }
     },
     "localname": "EntityFilerCategory",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "filerCategoryItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation, State or Country Code",
        "terseLabel": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r648"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).",
        "label": "Entity Interactive Data Current",
        "terseLabel": "Entity Interactive Data Current"
       }
      }
     },
     "localname": "EntityInteractiveDataCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPublicFloat": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.",
        "label": "Entity Public Float",
        "terseLabel": "Entity Public Float"
       }
      }
     },
     "localname": "EntityPublicFloat",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name",
        "terseLabel": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.",
        "label": "Entity Shell Company",
        "terseLabel": "Entity Shell Company"
       }
      }
     },
     "localname": "EntityShellCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).",
        "label": "Entity Small Business",
        "terseLabel": "Entity Small Business"
       }
      }
     },
     "localname": "EntitySmallBusiness",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r647"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number",
        "terseLabel": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_EntityVoluntaryFilers": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.",
        "label": "Entity Voluntary Filers",
        "terseLabel": "Entity Voluntary Filers"
       }
      }
     },
     "localname": "EntityVoluntaryFilers",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.",
        "label": "Entity Well-known Seasoned Issuer",
        "terseLabel": "Entity Well-known Seasoned Issuer"
       }
      }
     },
     "localname": "EntityWellKnownSeasonedIssuer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_IcfrAuditorAttestationFlag": {
     "auth_ref": [
      "r643",
      "r644",
      "r645"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "ICFR Auditor Attestation Flag",
        "terseLabel": "ICFR Auditor Attestation Flag"
       }
      }
     },
     "localname": "IcfrAuditorAttestationFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_LegalEntityAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The set of legal entities associated with a report.",
        "label": "Legal Entity [Axis]",
        "terseLabel": "Legal Entity [Axis]"
       }
      }
     },
     "localname": "LegalEntityAxis",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number",
        "terseLabel": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r641"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Title of 12(b) Security",
        "terseLabel": "Title of 12(b) Security"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r642"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name",
        "terseLabel": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol",
        "terseLabel": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/DocumentAndEntityInformation"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "mtn_A6.25NotesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "6.25% Notes [Member]",
        "label": "6.25% Notes [Member]",
        "terseLabel": "6.25% Notes [Member]"
       }
      }
     },
     "localname": "A6.25NotesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_AccountsPayableAccruedLiabilities": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_LiabilitiesCurrent",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities.",
        "label": "Accounts Payable Accrued Liabilities",
        "terseLabel": "Accounts payable and accrued liabilities (Note 8)",
        "totalLabel": "Total accounts payable and accrued liabilities"
       }
      }
     },
     "localname": "AccountsPayableAccruedLiabilities",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_AccumulatedAmortizationExcludingGoodwill": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_IntangibleAssetsNetExcludingGoodwill",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Accumulated Amortization Excluding Goodwill",
        "label": "Accumulated Amortization Excluding Goodwill",
        "negatedLabel": "Total accumulated amortization"
       }
      }
     },
     "localname": "AccumulatedAmortizationExcludingGoodwill",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_AdjustmentsToCapitalLeaseAnnualPayments": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Adjustments to Capital Lease Annual Payments",
        "label": "Adjustments to Capital Lease Annual Payments",
        "terseLabel": "Adjustments to Capital Lease Annual Payments"
       }
      }
     },
     "localname": "AdjustmentsToCapitalLeaseAnnualPayments",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_AlpineValleySecuredNoteMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Alpine Valley Secured Note [Member]",
        "label": "Alpine Valley Secured Note [Member]",
        "terseLabel": "Alpine Valley Secured Note [Member]"
       }
      }
     },
     "localname": "AlpineValleySecuredNoteMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_AnnualInterestRateIncreaseCap": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Annual Interest Rate Increase Cap",
        "label": "Annual Interest Rate Increase Cap",
        "terseLabel": "Annual Interest Rate Increase Cap"
       }
      }
     },
     "localname": "AnnualInterestRateIncreaseCap",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "mtn_BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]",
        "label": "Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]",
        "terseLabel": "Balance Sheet Summary of Deferred Tax Assets and Liabilities [Table Text Block]"
       }
      }
     },
     "localname": "BalanceSheetSummaryofDeferredTaxAssetsandLiabilitiesTableTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_BcHousingMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "BC Housing [Member]",
        "label": "Bc Housing [Member]",
        "terseLabel": "BC Housing [Member]"
       }
      }
     },
     "localname": "BcHousingMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_BeaverCreekResortCompanyOfColoradoMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Beaver Creek Resort Company of Colorado [Member]",
        "label": "Beaver Creek Resort Company of Colorado [Member]",
        "terseLabel": "BCRC [Member]"
       }
      }
     },
     "localname": "BeaverCreekResortCompanyOfColoradoMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_BostonMillsBrandywineSecuredNoteMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boston Mills Brandywine Secured Note [Member]",
        "label": "Boston Mills Brandywine Secured Note [Member]",
        "terseLabel": "Boston Mills Brandywine Secured Note [Member]"
       }
      }
     },
     "localname": "BostonMillsBrandywineSecuredNoteMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_BreckenridgeTerraceMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Breckenridge Terrace [Member]",
        "label": "Breckenridge Terrace [Member]",
        "terseLabel": "Breckenridge Terrace [Member]"
       }
      }
     },
     "localname": "BreckenridgeTerraceMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_BusinessCombinationCashConsiderationTransferred": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Business Combination, Cash Consideration Transferred",
        "label": "Business Combination, Cash Consideration Transferred",
        "terseLabel": "Business Combination, Cash Consideration Transferred"
       }
      }
     },
     "localname": "BusinessCombinationCashConsiderationTransferred",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CanyonsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Canyons [Member]",
        "label": "Canyons [Member]",
        "terseLabel": "Canyons [Member]"
       }
      }
     },
     "localname": "CanyonsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_CanyonsObligationMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Obligation to Talisker Corporation for operation of Canyons Resort",
        "label": "Canyons Obligation [Member]",
        "terseLabel": "Canyons Obligation [Member]"
       }
      }
     },
     "localname": "CanyonsObligationMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_CapitalLeasedAssetsAccumulatedDepreciation": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 1.0,
       "parentTag": "mtn_CapitalLeasedAssetsNet",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) under capital lease obligations that has been recognized in the income statement.",
        "label": "Capital Leased Assets, Accumulated Depreciation",
        "negatedNetLabel": "Capital Leased Assets, Accumulated Depreciation",
        "negatedTerseLabel": "Business Acquisition, Purchase Price Allocation, Accumulated Depreciation"
       }
      }
     },
     "localname": "CapitalLeasedAssetsAccumulatedDepreciation",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CapitalLeasedAssetsBuildingsandBuildingImprovements": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_CapitalLeasedAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation of building structures held for productive use under capital lease obligations including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.",
        "label": "Capital Leased Assets, Buildings and Building Improvements",
        "terseLabel": "Business Acquisition, Purchase Price Allocation, Buildings and Building Improvements",
        "verboseLabel": "Capital Leased Assets, Buildings and Building Improvements"
       }
      }
     },
     "localname": "CapitalLeasedAssetsBuildingsandBuildingImprovements",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CapitalLeasedAssetsLand": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_CapitalLeasedAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross amount, as of the balance sheet date, of real estate land held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.",
        "label": "Capital Leased Assets, Land",
        "terseLabel": "Capital Leased Assets, Land",
        "verboseLabel": "Business Acquisition, Purchase Price Allocation, Land"
       }
      }
     },
     "localname": "CapitalLeasedAssetsLand",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CapitalLeasedAssetsLandImprovements": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_CapitalLeasedAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross amount, as of the balance sheet date, of land improvements held for productive use under capital lease obligations. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.",
        "label": "Capital Leased Assets, Land Improvements",
        "terseLabel": "Capital Leased Assets, Land Improvements",
        "verboseLabel": "Business Acquisition, Purchase Price Allocation, Land Improvements"
       }
      }
     },
     "localname": "CapitalLeasedAssetsLandImprovements",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CapitalLeasedAssetsMachineryandEquipment": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_CapitalLeasedAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services under capital lease obligations.",
        "label": "Capital Leased Assets, Machinery and Equipment",
        "terseLabel": "Business Acquisition, Purchase Price Allocation, Machinery and Equipment",
        "verboseLabel": "Capital Leased Assets, Machinery and Equipment"
       }
      }
     },
     "localname": "CapitalLeasedAssetsMachineryandEquipment",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_CapitalLeasedAssetsNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets under capital lease obligations used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.",
        "label": "Capital Leased Assets, Net",
        "terseLabel": "Capital Leased Assets, Net",
        "totalLabel": "Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Net (under Capital Lease)"
       }
      }
     },
     "localname": "CapitalLeasedAssetsNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ChangeinFairValueofContingentConsideration": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 8.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 4.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Change in Fair Value of Contingent Consideration",
        "label": "Change in Fair Value of Contingent Consideration",
        "negatedLabel": "Change in fair value of contingent consideration (Note 10)",
        "terseLabel": "Change in fair value of contingent consideration"
       }
      }
     },
     "localname": "ChangeinFairValueofContingentConsideration",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ClintonDitchAndReservoirCompanyMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Clinton Ditch and Reservoir Company [Member]",
        "label": "Clinton Ditch and Reservoir Company [Member]",
        "terseLabel": "Clinton Ditch and Reservoir Company [Member]"
       }
      }
     },
     "localname": "ClintonDitchAndReservoirCompanyMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ColoradoWaterConservationBoardNoteOutstandingMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Colorado Water Conservation Board Note Outstanding [Member]",
        "label": "Colorado Water Conservation Board Note Outstanding [Member]",
        "terseLabel": "Colorado Water Conservation Board Note Outstanding [Member]"
       }
      }
     },
     "localname": "ColoradoWaterConservationBoardNoteOutstandingMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ComponentsofIncomeBeforeIncomeTaxesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Components of Income Before Income Taxes [Abstract]",
        "label": "Components of Income Before Income Taxes [Abstract]"
       }
      }
     },
     "localname": "ComponentsofIncomeBeforeIncomeTaxesAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_ConcentrationOfCreditRiskPolicyTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.",
        "label": "Concentration Of Credit Risk [Policy Text Block]",
        "terseLabel": "Concentration of Credit Risk"
       }
      }
     },
     "localname": "ConcentrationOfCreditRiskPolicyTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_ContingentConsiderationFairValueDisclosure": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair Value of Contingent Consideration Liability",
        "label": "Contingent Consideration, Fair Value Disclosure",
        "terseLabel": "Liabilities, Fair Value Disclosure"
       }
      }
     },
     "localname": "ContingentConsiderationFairValueDisclosure",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ContingentConsiderationKeyAssumptionsforValuation": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The key inputs of the arrangement and market participant assumptions considered when developing the assumptions used to determine the fair value of the arrangement.",
        "label": "Contingent Consideration, Key Assumptions for Valuation",
        "terseLabel": "Contingent Consideration, Key Assumptions for Valuation"
       }
      }
     },
     "localname": "ContingentConsiderationKeyAssumptionsforValuation",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_ContractBalancesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Contract Balances [Abstract]",
        "label": "Contract Balances [Abstract]"
       }
      }
     },
     "localname": "ContractBalancesAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_CoststoObtainContractswithCustomersAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Costs to Obtain Contracts with Customers [Abstract]",
        "label": "Costs to Obtain Contracts with Customers [Abstract]"
       }
      }
     },
     "localname": "CoststoObtainContractswithCustomersAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_DebtInstrumentByTrancheAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Debt Instrument, By Tranche",
        "label": "Debt Instrument, By Tranche [Axis]",
        "terseLabel": "Debt Instrument, By Tranche [Axis]"
       }
      }
     },
     "localname": "DebtInstrumentByTrancheAxis",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_DebtInstrumentThirdPartyCreditEnhancements": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Debt Instrument, Third Party Credit Enhancements",
        "label": "Debt Instrument, Third Party Credit Enhancements",
        "terseLabel": "Credit-enhanced bonds issued amount"
       }
      }
     },
     "localname": "DebtInstrumentThirdPartyCreditEnhancements",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_DebtInstrumentYearofMaturity": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Debt Instrument, Year of Maturity",
        "label": "Debt Instrument, Year of Maturity",
        "terseLabel": "Fiscal year maturity"
       }
      }
     },
     "localname": "DebtInstrumentYearofMaturity",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "gYearItemType"
    },
    "mtn_DebtServiceReserve": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Debt Service Reserve",
        "label": "Debt Service Reserve",
        "terseLabel": "Debt Service Reserve"
       }
      }
     },
     "localname": "DebtServiceReserve",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_DeferredIncomeTaxAssetUnfavourableLeaseObligation": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Deferred Income Tax Asset Unfavourable Lease Obligation",
        "label": "Deferred Income Tax Asset Unfavourable Lease Obligation",
        "terseLabel": "Unfavorable lease obligation, net"
       }
      }
     },
     "localname": "DeferredIncomeTaxAssetUnfavourableLeaseObligation",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_DeferredTaxAssetCanyonsObligation": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 7.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Deferred Tax Asset related to Talisker Canyons Obligation",
        "label": "Deferred Tax Asset, Canyons Obligation",
        "terseLabel": "Deferred Tax Asset, Talisker Canyons Obligation"
       }
      }
     },
     "localname": "DeferredTaxAssetCanyonsObligation",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_DeferredTaxAssetsOperatingLeaseLiabilities": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Deferred Tax Assets, Operating Lease Liabilities",
        "label": "Deferred Tax Assets, Operating Lease Liabilities",
        "terseLabel": "Deferred Tax Assets, Operating Lease Liabilities"
       }
      }
     },
     "localname": "DeferredTaxAssetsOperatingLeaseLiabilities",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_DefinedContributionPlanEmployeeContributionPercentage": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Defined Contribution Plan, Maximum Employee Contribution Percentage",
        "label": "Defined Contribution Plan Employee Contribution Percentage",
        "terseLabel": "Employee contribution percentage"
       }
      }
     },
     "localname": "DefinedContributionPlanEmployeeContributionPercentage",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "mtn_DefinedContributionPlanEmployerContributionPercentage": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Defined Contribution Plan, Maximum Employer Contribution Percentage",
        "label": "Defined Contribution Plan Employer Contribution Percentage",
        "terseLabel": "Employer contribution matching equal to 50%"
       }
      }
     },
     "localname": "DefinedContributionPlanEmployerContributionPercentage",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "mtn_DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Requisite Employment Period in Months to be eligible for the Company's matching contributions if 1,000 service hours are worked.",
        "label": "Defined Contribution Plan Individual Requisite Employment Period In Months",
        "terseLabel": "Employment period (in months)"
       }
      }
     },
     "localname": "DefinedContributionPlanIndividualRequisiteEmploymentPeriodInMonths",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "mtn_DefinedContributionPlanIndividualRequisiteServicePeriodInHours": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Requisite Employment Period in Hours within a consecutive 12 month period to be eligible for the Company's matching contributions.",
        "label": "Defined Contribution Plan Individual Requisite Service Period In Hours",
        "terseLabel": "Service period (in hours)"
       }
      }
     },
     "localname": "DefinedContributionPlanIndividualRequisiteServicePeriodInHours",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "positiveIntegerItemType"
    },
    "mtn_DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Requisite Employment Period in Hours to be eligible for the Company's matching contributions.",
        "label": "Defined ContributionPlan Individual Requisite Total Service Period In Hours",
        "terseLabel": "Total service period (in hours)"
       }
      }
     },
     "localname": "DefinedContributionplanIndividualRequisiteTotalServicePeriodInHours",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "positiveIntegerItemType"
    },
    "mtn_DescriptionofPercentageRent": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of Percentage Rent",
        "label": "Description of Percentage Rent",
        "terseLabel": "Operating Leases, Rent Expense, Contingent Rentals"
       }
      }
     },
     "localname": "DescriptionofPercentageRent",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_DiningMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Dining [Member]",
        "label": "Dining [Member]",
        "terseLabel": "Dining"
       }
      }
     },
     "localname": "DiningMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_DocumentAndEntityInformationAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Document And Entity Information [Abstract]",
        "label": "Document And Entity Information [Abstract]"
       }
      }
     },
     "localname": "DocumentAndEntityInformationAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_EB5DevelopmentNotes1Member": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.",
        "label": "EB-5 Development Notes1 [Member]",
        "terseLabel": "EB-5 Development Notes1 [Member]"
       }
      }
     },
     "localname": "EB5DevelopmentNotes1Member",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_EB5DevelopmentNotes2Member": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.",
        "label": "EB-5 Development Notes2 [Member]",
        "terseLabel": "EB-5 Development Notes2 [Member]"
       }
      }
     },
     "localname": "EB5DevelopmentNotes2Member",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_EB5DevelopmentNotesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "EB-5 Development Notes [Member]",
        "label": "EB-5 Development Notes [Member]",
        "terseLabel": "EB-5 Development Notes [Member]"
       }
      }
     },
     "localname": "EB5DevelopmentNotesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_EPRAdditionalInterestRate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "EPR Additional Interest Rate",
        "label": "EPR Additional Interest Rate",
        "terseLabel": "EPR Additional Interest Rate"
       }
      }
     },
     "localname": "EPRAdditionalInterestRate",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "mtn_EPRSecuredNotesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "EPR Secured Notes [Member]",
        "label": "EPR Secured Notes [Member]",
        "terseLabel": "EPR Secured Notes [Member]"
       }
      }
     },
     "localname": "EPRSecuredNotesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_EarningBeforeInterestTaxesDepreciationAndAmortization": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Earning Before Interest Taxes Depreciation and Amortization for the Segment presented.",
        "label": "Earning Before Interest Taxes Depreciation and Amortization",
        "terseLabel": "Total Reported EBITDA"
       }
      }
     },
     "localname": "EarningBeforeInterestTaxesDepreciationAndAmortization",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_EmployeeHousingBondsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Employee Housing Bonds [Member]",
        "label": "Employee Housing Bonds [Member]",
        "terseLabel": "Employee Housing Bonds [Member]"
       }
      }
     },
     "localname": "EmployeeHousingBondsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_EstimatedCessationDateOfCapitalImprovementFeePayments": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Estimated Cessation Date Of Capital Improvement Fee Payments",
        "label": "Estimated Cessation Date Of Capital Improvement Fee Payments",
        "terseLabel": "Estimated cessation date of capital improvement fee payment obligation"
       }
      }
     },
     "localname": "EstimatedCessationDateOfCapitalImprovementFeePayments",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "mtn_EventofDefaultMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Event of Default [Member]",
        "label": "Event of Default [Member]",
        "terseLabel": "Event of Default [Member]"
       }
      }
     },
     "localname": "EventofDefaultMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ExchangeableSharesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Exchangeable Shares [Member]",
        "label": "Exchangeable Shares [Member]",
        "terseLabel": "Exchangeable Shares [Member]"
       }
      }
     },
     "localname": "ExchangeableSharesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ExchangeableSharesParValuePerShare": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Exchangeable Shares Par Value Per Share",
        "label": "Exchangeable Shares Par Value Per Share",
        "terseLabel": "Exchangeable Shares Par Value Per Share"
       }
      }
     },
     "localname": "ExchangeableSharesParValuePerShare",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ExchangeableSharesSharesIssued": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Exchangeable Shares, Shares, Issued",
        "label": "Exchangeable Shares, Shares, Issued",
        "terseLabel": "Exchangeable Shares, Shares, Issued"
       }
      }
     },
     "localname": "ExchangeableSharesSharesIssued",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ExchangeableSharesTransfer": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Exchangeable Shares Transfer",
        "label": "Exchangeable Shares Transfer",
        "terseLabel": "Exchangeable share transfers"
       }
      }
     },
     "localname": "ExchangeableSharesTransfer",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ExchangeableSharesValueIssued": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 7.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate par or stated value of issued Exchangeable shares.",
        "label": "Exchangeable Shares, Value, Issued",
        "terseLabel": "Exchangeable shares, $0.01 par value, 36 and 56 shares issued and outstanding, respectively (Note 5)"
       }
      }
     },
     "localname": "ExchangeableSharesValueIssued",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ExpectedToBeRecognizedInOneYearMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Expected to be Recognized in One Year",
        "label": "Expected to be Recognized in One Year [Member]",
        "terseLabel": "Expected to be Recognized in One Year [Member]"
       }
      }
     },
     "localname": "ExpectedToBeRecognizedInOneYearMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ExtensionYear1Member": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Extension Year1 [Member]",
        "label": "Extension Year1 [Member]",
        "terseLabel": "Extension Year1 [Member]"
       }
      }
     },
     "localname": "ExtensionYear1Member",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ExtensionYear2Member": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Extension Year2 [Member]",
        "label": "Extension Year2 [Member]",
        "terseLabel": "Extension Year2 [Member]"
       }
      }
     },
     "localname": "ExtensionYear2Member",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_FallsCreekMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Falls Creek [Member]",
        "label": "Falls Creek [Member]",
        "terseLabel": "Falls Creek [Member]"
       }
      }
     },
     "localname": "FallsCreekMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_FallsCreekandHothamMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Falls Creek and Hotham [Member]",
        "label": "Falls Creek and Hotham [Member]",
        "terseLabel": "Falls Creek and Hotham [Member]"
       }
      }
     },
     "localname": "FallsCreekandHothamMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_FinancingCashOutflowsforFinanceLeases": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Financing Cash Outflows for Finance Leases",
        "label": "Financing Cash Outflows for Finance Leases",
        "terseLabel": "Financing Cash Outflows for Finance Leases"
       }
      }
     },
     "localname": "FinancingCashOutflowsforFinanceLeases",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ForeignRefundablePayrollTaxCredits": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Foreign Refundable Payroll Tax Credits",
        "label": "Foreign Refundable Payroll Tax Credits",
        "terseLabel": "Foreign Refundable Payroll Tax Credits"
       }
      }
     },
     "localname": "ForeignRefundablePayrollTaxCredits",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_GainOnSaleOfRealProperty": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 9.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 6.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The gains and losses included in results of operations resulting from the sale of land.",
        "label": "Gain on sale of real property",
        "negatedTerseLabel": "Gain on sale of real property",
        "terseLabel": "Gain on sale of real property"
       }
      }
     },
     "localname": "GainOnSaleOfRealProperty",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_GolfMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Golf [Member]",
        "label": "Golf [Member]",
        "terseLabel": "Golf"
       }
      }
     },
     "localname": "GolfMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_GoodwillAccumulatedAmortization": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_Goodwill",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cumulative amount of amortization related to goodwill.",
        "label": "Goodwill Accumulated Amortization",
        "negatedLabel": "Accumulated amortization"
       }
      }
     },
     "localname": "GoodwillAccumulatedAmortization",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_GrossIntangibleAssetsExcludingGoodwill": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_IntangibleAssetsNetExcludingGoodwill",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross Intangible Assets Excluding Goodwill",
        "label": "Gross Intangible Assets Excluding Goodwill",
        "terseLabel": "Total gross intangible assets"
       }
      }
     },
     "localname": "GrossIntangibleAssetsExcludingGoodwill",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_HollandCreekMetropolitanDistrictMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Holland Creek Metropolitan District [Member]",
        "label": "Holland Creek Metropolitan District [Member]",
        "terseLabel": "Holland Creek Metropolitan District [Member]"
       }
      }
     },
     "localname": "HollandCreekMetropolitanDistrictMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_HothamMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Hotham [Member]",
        "label": "Hotham [Member]",
        "terseLabel": "Hotham [Member]"
       }
      }
     },
     "localname": "HothamMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_HunterMountainSecuredNoteMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Hunter Mountain Secured Note [Member]",
        "label": "Hunter Mountain Secured Note [Member]",
        "terseLabel": "Hunter Mountain Secured Note [Member]"
       }
      }
     },
     "localname": "HunterMountainSecuredNoteMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ImpactofTaxReformonRate": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 8.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Impact of Tax Reform on Rate",
        "label": "Impact of Tax Reform on Rate",
        "terseLabel": "Impacts of the Tax Act and other legislative changes"
       }
      }
     },
     "localname": "ImpactofTaxReformonRate",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "mtn_IndefiniteLivedIntangibleAssetsAccumulatedAmortization": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 2.0,
       "parentTag": "mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indefinite-Lived Intangible Assets, Accumulated Amortization",
        "label": "Indefinite-Lived Intangible Assets, Accumulated Amortization",
        "negatedLabel": "Accumulated amortization"
       }
      }
     },
     "localname": "IndefiniteLivedIntangibleAssetsAccumulatedAmortization",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indefinite-Lived Intangible Assets (Excluding Goodwill), Net",
        "label": "Indefinite-Lived Intangible Assets (Excluding Goodwill), Net",
        "totalLabel": "Indefinite-lived intangible assets, net"
       }
      }
     },
     "localname": "IndefiniteLivedIntangibleAssetsExcludingGoodwillNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_IndefiniteLivedPropertyManagementContracts": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indefinite Lived Property Management Contracts",
        "label": "Indefinite Lived Property Management Contracts",
        "terseLabel": "Indefinite Lived Property Management Contracts"
       }
      }
     },
     "localname": "IndefiniteLivedPropertyManagementContracts",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_InitialCapitalLeaseTerm": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Initial Capital Lease Term",
        "label": "Initial Capital Lease Term",
        "terseLabel": "Initial Capital Lease Term"
       }
      }
     },
     "localname": "InitialCapitalLeaseTerm",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_InterestRateSwapNotionalAmount": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Interest Rate Swap, Notional Amount",
        "label": "Interest Rate Swap, Notional Amount",
        "terseLabel": "Interest Rate Swap, Notional Amount"
       }
      }
     },
     "localname": "InterestRateSwapNotionalAmount",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_JackFrostBigBoulderSecuredNoteMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Jack Frost Big Boulder Secured Note [Member]",
        "label": "Jack Frost Big Boulder Secured Note [Member]",
        "terseLabel": "Jack Frost Big Boulder Secured Note [Member]"
       }
      }
     },
     "localname": "JackFrostBigBoulderSecuredNoteMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_KeystoneAndIntrawestLlcMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Keystone and Intrawest, LLC [Member]",
        "label": "Keystone and Intrawest Llc [Member]",
        "terseLabel": "Keystone and Intrawest Llc [Member]"
       }
      }
     },
     "localname": "KeystoneAndIntrawestLlcMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_LandAndLandImprovementsGross": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 7.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross amount, as of the balance sheet date, of real estate held for productive use. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets.",
        "label": "Land And Land Improvements Gross",
        "terseLabel": "Land and land improvements"
       }
      }
     },
     "localname": "LandAndLandImprovementsGross",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_LesseeOperatingAndFinanceLeaseTerm": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Lessee Operating And Finance Lease Term",
        "label": "Lessee Operating And Finance Lease Term",
        "terseLabel": "Lessee Operating And Finance Lease Term"
       }
      }
     },
     "localname": "LesseeOperatingAndFinanceLeaseTerm",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "mtn_LiftTicketsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Lift Tickets [Member]",
        "label": "Lift Tickets [Member]",
        "terseLabel": "Lift"
       }
      }
     },
     "localname": "LiftTicketsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_LodgingExpensesNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 1.0,
       "parentTag": "mtn_ResortExpensesNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses.",
        "label": "Lodging Expenses Net",
        "terseLabel": "Lodging"
       }
      }
     },
     "localname": "LodgingExpensesNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_LodgingMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Lodging [Member]",
        "label": "Lodging [Member]",
        "terseLabel": "Lodging [Member]"
       }
      }
     },
     "localname": "LodgingMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_LodgingOperatingExpenseMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Lodging Operating Expense",
        "label": "Lodging Operating Expense [Member]",
        "terseLabel": "Lodging Operating Expense [Member]"
       }
      }
     },
     "localname": "LodgingOperatingExpenseMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_LodgingRevenueNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 2.0,
       "parentTag": "mtn_ResortRevenueNet",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities.",
        "label": "Lodging Revenue Net",
        "terseLabel": "Lodging",
        "verboseLabel": "Lodging revenue"
       }
      }
     },
     "localname": "LodgingRevenueNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_LodgingrevenueexcludingpayrollcostreimbursementsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Lodging revenue (excluding payroll cost reimbursements) [Member]",
        "label": "Lodging revenue (excluding payroll cost reimbursements) [Member]",
        "terseLabel": "Lodging revenue (excluding payroll cost reimbursements) [Member]"
       }
      }
     },
     "localname": "LodgingrevenueexcludingpayrollcostreimbursementsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ManagedcondominiumroomsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Managed condominium rooms [Member]",
        "label": "Managed condominium rooms [Member]",
        "terseLabel": "Managed condominium rooms"
       }
      }
     },
     "localname": "ManagedcondominiumroomsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_MinimumCapitalLeasePaymentAnnual": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Minimum amount of payment required annually for capital lease.",
        "label": "Minimum Capital Lease Payment, Annual",
        "terseLabel": "Minimum Capital Lease Payment, Annual"
       }
      }
     },
     "localname": "MinimumCapitalLeasePaymentAnnual",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountSnowSecuredNoteMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mount Snow Secured Note [Member]",
        "label": "Mount Snow Secured Note [Member]",
        "terseLabel": "Mount Snow Secured Note [Member]"
       }
      }
     },
     "localname": "MountSnowSecuredNoteMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_MountainEquityInvestmentIncomeLossNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment.",
        "label": "Mountain Equity Investment Income Loss Net",
        "terseLabel": "Mountain equity investment income, net"
       }
      }
     },
     "localname": "MountainEquityInvestmentIncomeLossNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainExpensesNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 2.0,
       "parentTag": "mtn_ResortExpensesNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Costs incurred that are directly related to generating mountain revenue, including labor and labor-related benefits, retail cost of sales, resort related fees and general and administrative expenses.",
        "label": "Mountain Expenses Net",
        "terseLabel": "Mountain"
       }
      }
     },
     "localname": "MountainExpensesNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain [Member]",
        "label": "Mountain [Member]",
        "terseLabel": "Mountain [Member]"
       }
      }
     },
     "localname": "MountainMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_MountainOperatingExpenseMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain Operating Expense",
        "label": "Mountain Operating Expense [Member]",
        "terseLabel": "Mountain Operating Expense [Member]"
       }
      }
     },
     "localname": "MountainOperatingExpenseMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_MountainRevenueNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 1.0,
       "parentTag": "mtn_ResortRevenueNet",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations.",
        "label": "Mountain Revenue Net",
        "netLabel": "Total Mountain net revenue",
        "terseLabel": "Mountain Revenue Net",
        "verboseLabel": "Mountain revenue"
       }
      }
     },
     "localname": "MountainRevenueNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainandLodgingcostofproductssold": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 4.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain and Lodging retail and dining cost of products sold",
        "label": "Mountain and Lodging cost of products sold",
        "terseLabel": "Mountain and Lodging retail and dining cost of products sold"
       }
      }
     },
     "localname": "MountainandLodgingcostofproductssold",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainandLodginggeneralandadministrativeexpense": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain and Lodging general and administrative expense",
        "label": "Mountain and Lodging general and administrative expense",
        "terseLabel": "General and administrative"
       }
      }
     },
     "localname": "MountainandLodginggeneralandadministrativeexpense",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainandLodgingoperatingexpenses": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 3.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain and Lodging operating expenses",
        "label": "Mountain and Lodging operating expenses",
        "terseLabel": "Mountain and Lodging operating expense"
       }
      }
     },
     "localname": "MountainandLodgingoperatingexpenses",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainandLodgingretailanddiningrevenue": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "us-gaap_Revenues",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain and Lodging retail and dining revenue",
        "label": "Mountain and Lodging retail and dining revenue",
        "terseLabel": "Mountain and Lodging retail and dining"
       }
      }
     },
     "localname": "MountainandLodgingretailanddiningrevenue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_MountainandLodgingservicesandotherrevenue": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "us-gaap_Revenues",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Mountain and Lodging services and other revenue",
        "label": "Mountain and Lodging services and other revenue",
        "terseLabel": "Mountain and Lodging services and other"
       }
      }
     },
     "localname": "MountainandLodgingservicesandotherrevenue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_Netoperatinglosscarryback": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Net operating loss carryback",
        "label": "Net operating loss carryback",
        "terseLabel": "Net operating loss carryback"
       }
      }
     },
     "localname": "Netoperatinglosscarryback",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_NorthstarMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Northstar [Member]",
        "label": "Northstar [Member]",
        "terseLabel": "Northstar [Member]"
       }
      }
     },
     "localname": "NorthstarMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_NumberOfDirectors": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of Directors",
        "label": "Number of Directors",
        "terseLabel": "Number of directors"
       }
      }
     },
     "localname": "NumberOfDirectors",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "positiveIntegerItemType"
    },
    "mtn_NumberOfOptionalLeaseRenewalTerms": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of optional renewal terms",
        "label": "Number Of Optional Lease Renewal Terms",
        "terseLabel": "Number of optional renewal terms"
       }
      }
     },
     "localname": "NumberOfOptionalLeaseRenewalTerms",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "integerItemType"
    },
    "mtn_NumberOfRestrictedStockUnitsVestedDuringPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of restricted stock units vested during the period.",
        "label": "The Number Of Restricted Stock Units Vested During The Period",
        "negatedLabel": "Awards, vested (in shares)"
       }
      }
     },
     "localname": "NumberOfRestrictedStockUnitsVestedDuringPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_OperatingCashOutflowsforFinanceLeases": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Operating Cash Outflows for Finance Leases",
        "label": "Operating Cash Outflows for Finance Leases",
        "terseLabel": "Operating Cash Outflows for Finance Leases"
       }
      }
     },
     "localname": "OperatingCashOutflowsforFinanceLeases",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_OperatingCostsExpensesAndCostOfSales": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": -1.0
      },
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense.",
        "label": "Operating Costs Expenses And Cost Of Sales",
        "totalLabel": "Total segment operating expense"
       }
      }
     },
     "localname": "OperatingCostsExpensesAndCostOfSales",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_OptionalLeaseRenewalTerm": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of years in optional renewal terms.",
        "label": "Optional Lease Renewal Term",
        "terseLabel": "Optional Lease Renewal Term"
       }
      }
     },
     "localname": "OptionalLeaseRenewalTerm",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_OtherDebtMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Other Debt [Member]",
        "label": "Other Debt [Member]",
        "terseLabel": "Other [Member]"
       }
      }
     },
     "localname": "OtherDebtMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_OtherLodgingRevenueMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Other Lodging Revenue [Member]",
        "label": "Other Lodging Revenue [Member]",
        "terseLabel": "Other"
       }
      }
     },
     "localname": "OtherLodgingRevenueMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_OtherLongTermLiabilitiesNoncurrent": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 4.0,
       "parentTag": "us-gaap_Liabilities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities.",
        "label": "Other Long Term Liabilities Noncurrent",
        "totalLabel": "Total other long-term liabilities",
        "verboseLabel": "Other long-term liabilities (Note 8)"
       }
      }
     },
     "localname": "OtherLongTermLiabilitiesNoncurrent",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_OtherMountainRevenueMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Other Mountain Revenue [Member]",
        "label": "Other Mountain Revenue [Member]",
        "terseLabel": "Other"
       }
      }
     },
     "localname": "OtherMountainRevenueMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_OtherOperatingExpensesAndIncomeAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Other operating expenses and income abstract.",
        "label": "Other Operating Expenses And Income [Abstract]",
        "terseLabel": "Other operating (expense) income:"
       }
      }
     },
     "localname": "OtherOperatingExpensesAndIncomeAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_OwnedHotelRevenueMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Owned Hotel Revenue [Member]",
        "label": "Owned Hotel Revenue [Member]",
        "terseLabel": "Owned hotel rooms"
       }
      }
     },
     "localname": "OwnedHotelRevenueMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_PayrollcostreimbursementsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Payroll cost reimbursements [Member]",
        "label": "Payroll cost reimbursements [Member]",
        "terseLabel": "Payroll cost reimbursements"
       }
      }
     },
     "localname": "PayrollcostreimbursementsMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_PeakResortsInc.Member": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Peak Resorts, Inc. [Member]",
        "label": "Peak Resorts, Inc. [Member]",
        "terseLabel": "Peak Resorts, Inc. [Member]"
       }
      }
     },
     "localname": "PeakResortsInc.Member",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_PerisherMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Perisher [Member]",
        "label": "Perisher [Member]",
        "terseLabel": "Perisher [Member]"
       }
      }
     },
     "localname": "PerisherMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Presentation of Net Deferred Tax Liabilities and Assets [Abstract]",
        "label": "Presentation of Net Deferred Tax Liabilities and Assets [Abstract]"
       }
      }
     },
     "localname": "PresentationofNetDeferredTaxLiabilitiesandAssetsAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_PrivateClubDeferredInitiationFeesAndDeposits": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails": {
       "order": 1.0,
       "parentTag": "mtn_OtherLongTermLiabilitiesNoncurrent",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount as of the balance sheet date of prepayments by customers for private club initiation fees and deposits for services to be provided at a later date.",
        "label": "Private Club Deferred Initiation Fees And Deposits",
        "terseLabel": "Private club deferred initiation fee revenue"
       }
      }
     },
     "localname": "PrivateClubDeferredInitiationFeesAndDeposits",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_PrivateClubRecognizedInitiationFeesAverageRemainingPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Recognized private club initiation fees, average remaining period.",
        "label": "Private Club Recognized Initiation Fees Average Remaining Period",
        "terseLabel": "Private Club Recognized Initiation Fees Average Remaining Period"
       }
      }
     },
     "localname": "PrivateClubRecognizedInitiationFeesAverageRemainingPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesContractBalancesDetails"
     ],
     "xbrltype": "positiveIntegerItemType"
    },
    "mtn_ProFormaFinancialInformationLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "[Line Items] for Pro Forma Financial Information [Table]",
        "label": "Pro Forma Financial Information [Line Items]",
        "terseLabel": "Pro Forma Financial Information [Line Items]"
       }
      }
     },
     "localname": "ProFormaFinancialInformationLineItems",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_ProFormaFinancialInformationTable": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Pro Forma Financial Information [Table]",
        "label": "Pro Forma Financial Information [Table]",
        "terseLabel": "Pro Forma Financial Information [Table]"
       }
      }
     },
     "localname": "ProFormaFinancialInformationTable",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_ProceedsfromWhistlerCreditAgreementrevolver": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 4.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Proceeds from Whistler Credit Agreement revolver",
        "label": "Proceeds from Whistler Credit Agreement revolver",
        "terseLabel": "Proceeds from borrowings under Whistler Credit Agreement"
       }
      }
     },
     "localname": "ProceedsfromWhistlerCreditAgreementrevolver",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_PropertyPlantandEquipmentunderCapitalLeaseAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Property, Plant and Equipment under Capital Lease [Abstract]",
        "label": "Property, Plant and Equipment under Capital Lease [Abstract]"
       }
      }
     },
     "localname": "PropertyPlantandEquipmentunderCapitalLeaseAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_RealEstateCostofSales": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 3.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Real Estate Cost of Sales",
        "label": "Real Estate Cost of Sales",
        "terseLabel": "Cost of real estate sales"
       }
      }
     },
     "localname": "RealEstateCostofSales",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RealEstateExpense": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 1.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses.",
        "label": "Real estate expense",
        "terseLabel": "Real estate",
        "verboseLabel": "Real Estate, net"
       }
      }
     },
     "localname": "RealEstateExpense",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RealEstateOperatingExpenseMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Real Estate Operating Expense",
        "label": "Real Estate Operating Expense [Member]",
        "terseLabel": "Real Estate Operating Expense [Member]"
       }
      }
     },
     "localname": "RealEstateOperatingExpenseMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_RealEstateRevenue": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 3.0,
       "parentTag": "us-gaap_Revenues",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_Revenues",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Real Estate Revenue",
        "label": "Real Estate Revenue",
        "terseLabel": "Real Estate"
       }
      }
     },
     "localname": "RealEstateRevenue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RedSkyRanchMetropolitanDistrictMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Red Sky Ranch Metropolitan District [Member]",
        "label": "Red Sky Ranch Metropolitan District [Member]",
        "terseLabel": "Red Sky Ranch Metropolitan District [Member]"
       }
      }
     },
     "localname": "RedSkyRanchMetropolitanDistrictMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_RepaymentsofTermLoan": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 6.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Repayments of Term Loan",
        "label": "Repayments of Term Loan",
        "negatedTerseLabel": "Repayments of borrowings under Vail Holdings Credit Agreement"
       }
      }
     },
     "localname": "RepaymentsofTermLoan",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RepaymentsofWhistlerCreditAgreementrevolver": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 5.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Repayments of Whistler Credit Agreement revolver",
        "label": "Repayments of Whistler Credit Agreement revolver",
        "negatedTerseLabel": "Repayments of borrowings under Whistler Credit Agreement"
       }
      }
     },
     "localname": "RepaymentsofWhistlerCreditAgreementrevolver",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ResortExpensesNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 2.0,
       "parentTag": "mtn_OperatingCostsExpensesAndCostOfSales",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The sum of mountain and lodging segment operating expenses, net.",
        "label": "Resort Expenses Net",
        "terseLabel": "Resort operating expense",
        "totalLabel": "Resort"
       }
      }
     },
     "localname": "ResortExpensesNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ResortMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Resort [Member]",
        "label": "Resort [Member]",
        "terseLabel": "Resort [Member]"
       }
      }
     },
     "localname": "ResortMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_ResortRevenueNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_Revenues",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The sum of mountain and lodging segment revenue.",
        "label": "Resort Revenue Net",
        "terseLabel": "Resort net revenue",
        "totalLabel": "Total Resort net revenue"
       }
      }
     },
     "localname": "ResortRevenueNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RestrictedStockUnitsRsusMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Restricted stock units (RSUs) as awarded by a company to their employees as a form of incentive compensation.",
        "label": "Restricted Stock Units (RSUs) [Member]",
        "terseLabel": "Restricted Stock Units (RSUs) [Member]"
       }
      }
     },
     "localname": "RestrictedStockUnitsRsusMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_RetailRentalMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Retail Rental [Member]",
        "label": "Retail Rental [Member]",
        "terseLabel": "Retail/Rental"
       }
      }
     },
     "localname": "RetailRentalMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_RetirementAndProfitSharingTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Entire disclosure for defined contribtuion plan. A defined contribution plan provides benefits in return for services rendered, provides an individual account for each participant, and has terms that specify how contributions to the individual's account are to be determined rather than the amount of benefits the individual is to receive. Disclosure includes a description of the terms and benefits provided by the employer's defined contribution plans.",
        "label": "Retirement and Profit Sharing [Text Block]",
        "verboseLabel": "Retirement and Profit Sharing Plans"
       }
      }
     },
     "localname": "RetirementAndProfitSharingTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlans"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Revenue from Contracts with Customers Adoption Impact to Retained Earnings",
        "label": "Revenue from Contracts with Customers Adoption Impact to Retained Earnings",
        "terseLabel": "Cumulative effect for adoption of revenue standard"
       }
      }
     },
     "localname": "RevenuefromContractswithCustomersAdoptionImpacttoRetainedEarnings",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_RightToAppointNumberOfDirectors": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Right to Appoint the Number of Directors",
        "label": "Right to Appoint the Number of Directors",
        "terseLabel": "Right to appoint the number of directors"
       }
      }
     },
     "localname": "RightToAppointNumberOfDirectors",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "positiveIntegerItemType"
    },
    "mtn_Rightofuseassetadjustments": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Favorable and unfavorable lease balances, deferred rent credits and other amounts that will adjust the right-of-use asset upon adoption of ASC 842.",
        "label": "Right-of-use asset adjustments",
        "terseLabel": "Right-of-use asset adjustments"
       }
      }
     },
     "localname": "Rightofuseassetadjustments",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block]",
        "label": "Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block]",
        "verboseLabel": "Summary On Estimated Useful Life Of Property, Plant And Equipment"
       }
      }
     },
     "localname": "ScheduleOfEstimatedUsefulLifeOfPropertyPlantAndEquipmentTableTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_ScheduleOfOtherLongTermLiabilitiesTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule of Other Long-term Liabilities [Table Text Block]",
        "label": "Schedule of Other Long-term Liabilities [Table Text Block]",
        "terseLabel": "Components Of Other Long-Term Liabilities"
       }
      }
     },
     "localname": "ScheduleOfOtherLongTermLiabilitiesTableTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_ScheduleofFutureMinimumLeasePaymentsTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule of Future Minimum Lease Payments [Table Text Block]",
        "label": "Schedule of Future Minimum Lease Payments [Table Text Block]",
        "terseLabel": "Schedule of Future Minimum Lease Payments [Table Text Block]"
       }
      }
     },
     "localname": "ScheduleofFutureMinimumLeasePaymentsTableTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_SeasonPassCreditDeferralCosts": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Season Pass Credit Deferral Costs",
        "label": "Season Pass Credit Deferral Costs",
        "terseLabel": "Season Pass Credit Deferral Costs"
       }
      }
     },
     "localname": "SeasonPassCreditDeferralCosts",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_SeasonPassCreditDeferralRevenue": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Season Pass Credit Deferral Revenue",
        "label": "Season Pass Credit Deferral Revenue",
        "terseLabel": "Season Pass Credit Deferral Revenue"
       }
      }
     },
     "localname": "SeasonPassCreditDeferralRevenue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Share-based Compensation Arrangement by Share-based Payment Award, Award Life",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Award Life",
        "terseLabel": "Stock based compensation award life"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardLife",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options and stock appreciation rights outstanding and currently exercisable under the option plan as of the balance sheet date.",
        "label": "Share based Compensation Arrangement By Share based Payment Award Options And SARs Exercisable Intrinsic Value",
        "periodEndLabel": "Aggregate intrinsic value, exercisable ending balance"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableIntrinsicValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of shares into which fully or partially vested stock options and stock appreciation rights outstanding as of the balance sheet date can be currently converted under the plan.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Number",
        "periodEndLabel": "Awards, exercisable ending balance (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableNumber",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options and stock appreciation rights outstanding and currently exercisable under the plan.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Weighted Average Exercise Price",
        "verboseLabel": "Weighted-average exercise price, exercisable ending balance (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageExercisePrice",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average period between the balance sheet date and expiration for all vested portions of options and stock appreciation rights outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercisable Weighted Average Remaining Contractual Term",
        "terseLabel": "Weighted-average remaining contractual term, exercisable ending balance (in years)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisableWeightedAverageRemainingContractualTerm",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average price at which option and stock appreciation right holders acquired shares when converting their stock options or stock appreciation rights into shares under the plan during the reporting period.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Exercises In Period Weighted Average Exercise Price",
        "verboseLabel": "Weighted-average exercise price, exercised (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsExercisesInPeriodWeightedAverageExercisePrice",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "For presentations that combine terminations, the number of shares under options and stock appreciation rights that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the plan or that expired.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Forfeitures And Expirations In Period",
        "negatedLabel": "Awards, forfeited or expired (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The combined weighted average exercise price associated with stock options and stock appreciation rights during the period that have either lapsed or been forfeited.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Forfeitures And Expirations In Period Weighted Average Exercise Price",
        "verboseLabel": "Weighted-average exercise price, forfeited or expired (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options and stock appreciation rights awarded under the plan during the reporting period.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Granted In Period Weighted Average Exercise Price",
        "verboseLabel": "Weighted-average exercise price, granted (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsGrantedInPeriodWeightedAverageExercisePrice",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options and stock appreciation rights outstanding under the plan as of the balance sheet date.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Intrinsic Value",
        "periodEndLabel": "Aggregate intrinsic value, outstanding ending balance"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingIntrinsicValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of shares reserved for issuance under stock option agreements and stock appreciation rights awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options and stock appreciation rights.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Number",
        "periodEndLabel": "Awards, outstanding ending balance (in shares)",
        "periodStartLabel": "Awards, outstanding beginning balance (in shares)",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingNumber",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the plan for options and stock appreciation rights.",
        "label": "Share Based Compensation Arrangement By Share Based Payment Award Options And SARs Outstanding Weighted Average Exercise Price",
        "periodEndLabel": "Weighted-average exercise price, outstanding ending balance (in dollars per share)",
        "periodStartLabel": "Weighted-average exercise price, outstanding beginning balance (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageExercisePrice",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average period between the balance sheet date and expiration for all awards of options and stock appreciation rights outstanding under the plan, which may be expressed in a decimal value for number of years.",
        "label": "Share based Compensation Arrangement By Share based Payment Award Options And SARs Outstanding Weighted Average Remaining Contractual Term",
        "terseLabel": "Weighted-average remaining contractual term, outstanding ending balance (in years)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndSarsOutstandingWeightedAverageRemainingContractualTerm",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of restricted share units, that were forfeited during the reporting period.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Forfeited In Period",
        "negatedLabel": "Awards, forfeited (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value as of the grant date of restricted share units that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Forfeited In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, forfeited (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsForfeitedInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Net number of restricted share units granted during the period.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Granted In Period",
        "terseLabel": "Awards, granted (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsGrantedInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of non-vested restricted share units, that validly exist and are outstanding as of the balance sheet date.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Nonvested Number",
        "periodEndLabel": "Awards, outstanding ending balance (in shares)",
        "periodStartLabel": "Awards, outstanding beginning balance (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedNumber",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value of nonvested restricted share units for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to underlying shares or units.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Nonvested Weighted Average Grant Date Fair Value",
        "periodEndLabel": "Weighted-average grant-date fair value, outstanding ending balance (in dollars per share)",
        "periodStartLabel": "Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsNonvestedWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value as of grant date pertaining to restricted share units for which the grantee gained the right during the reporting period, by satisfying service requirements, to receive shares or units in accordance with the terms of the arrangement.",
        "label": "Share Based Compensation Arrangement Restricted Stock Units Vested In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, vested (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestrictedStockUnitsVestedInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value at grant date for nonvested restricted share units issued during the period.",
        "label": "Share Based Compensation Arrangement Restriicted Stock Units Granted In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, granted (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementRestriictedStockUnitsGrantedInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of stock appreciation rights, that were forfeited during the reporting period.",
        "label": "Share Based Compensation Arrangement SARs Forfeited In Period",
        "negatedLabel": "Awards, forfeited (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsForfeitedInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value as of the grant date of stock appreciation rights that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan.",
        "label": "Share Based Compensation Arrangement SARs Forfeited In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, forfeited (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsForfeitedInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsGrantedInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of grants made during the period on stock appreciation rights.",
        "label": "Share Based Compensation Arrangement SARs Granted In Period",
        "verboseLabel": "Awards, granted (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsGrantedInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsGrantsInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of grants made during the period on stock appreciation rights.",
        "label": "Share Based Compensation Arrangement SARs Grants In Period",
        "terseLabel": "Awards, granted (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsGrantsInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value at grant date for nonvested stock appreciation rights issued during the period.",
        "label": "Share Based Compensation Arrangement SARs Grants In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, granted (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsGrantsInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value of nonvested stock appreciation rights for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to the underlying shares or units.",
        "label": "Share Based Compensation Arrangement SARs Nonvested Weighted Average Grant Date Fair Value",
        "periodEndLabel": "Weighted-average grant-date fair value, outstanding ending balance (in dollars per share)",
        "periodStartLabel": "Weighted-average grant-date fair value, outstanding beginning balance (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsNonvestedWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsVestedInPeriod": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of stock appreciation rights, that vested during the reporting period.",
        "label": "Share Based Compensation Arrangement SARs Vested In Period",
        "negatedLabel": "Awards, vested (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsVestedInPeriod",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average fair value as of grant date pertaining to stock appreciation rights for which the grantee gained the right during the reporting period, by satisfying service requirements, to retain shares or units, in accordance with the terms of the arrangement.",
        "label": "Share Based Compensation Arrangement SARs Vested In Period Weighted Average Grant Date Fair Value",
        "terseLabel": "Weighted-average grant-date fair value, vested (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementSarsVestedInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "mtn_SkiSchoolMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Ski School [Member]",
        "label": "Ski School [Member]",
        "terseLabel": "Ski School"
       }
      }
     },
     "localname": "SkiSchoolMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Slifer, Smith, and Frampton and Vail Associates Real Estate, LLC (SSF and VARE) [Member]",
        "label": "Slifer Smith and Frampton and Vail Associates Real Estate LLC [Member]",
        "terseLabel": "Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (\"SSF/VARE\") [Member]"
       }
      }
     },
     "localname": "SliferSmithAndFramptonAndVailAssociatesRealEstateLlcMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC [Member]",
        "label": "Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]",
        "terseLabel": "Slifer Smith and Frampton and Vail Associates Real Estate Llc Ssf and Vare [Member]"
       }
      }
     },
     "localname": "SliferSmithAndFramptonAndVailAssociatesRealEstateLlcSsfAndVareMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_StampDutyExpense": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Stamp Duty Expense",
        "label": "Stamp Duty Expense",
        "terseLabel": "Stamp Duty Expense"
       }
      }
     },
     "localname": "StampDutyExpense",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_StatementofComprehensiveIncomeParentheticalAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Statement of Comprehensive Income (Parenthetical) [Abstract]",
        "label": "Statement of Comprehensive Income (Parenthetical) [Abstract]"
       }
      }
     },
     "localname": "StatementofComprehensiveIncomeParentheticalAbstract",
     "nsuri": "http://www.vailresorts.com/20200731",
     "xbrltype": "stringItemType"
    },
    "mtn_StevensPassMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Stevens Pass [Member]",
        "label": "Stevens Pass [Member]",
        "terseLabel": "Stevens Pass [Member]"
       }
      }
     },
     "localname": "StevensPassMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of share options and stock appreciation rights exercised during the current period.",
        "label": "Stock Issued During Period Shares Stock Options And SARs Exercised",
        "negatedLabel": "Awards, exercised (in shares)"
       }
      }
     },
     "localname": "StockIssuedDuringPeriodSharesStockOptionsAndSarsExercised",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased",
        "label": "Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased",
        "verboseLabel": "Additional number of shares authorized to repurchase"
       }
      }
     },
     "localname": "StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_SuretyBondsOutstanding": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Surety Bonds Outstanding",
        "label": "Surety Bonds Outstanding",
        "terseLabel": "Surety Bonds Outstanding"
       }
      }
     },
     "localname": "SuretyBondsOutstanding",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_TarnesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tarnes [Member]",
        "label": "Tarnes [Member]",
        "terseLabel": "Tarnes [Member]"
       }
      }
     },
     "localname": "TarnesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TenderfootMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tenderfoot [Member]",
        "label": "Tenderfoot [Member]",
        "terseLabel": "Tenderfoot [Member]"
       }
      }
     },
     "localname": "TenderfootMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TermLoanHedgedPortionMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Term Loan, Hedged Portion [Member]",
        "label": "Term Loan, Hedged Portion [Member]",
        "terseLabel": "Term Loan, Hedged Portion [Member]"
       }
      }
     },
     "localname": "TermLoanHedgedPortionMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TermLoanMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Term Loan [Member]",
        "label": "Term Loan [Member]",
        "terseLabel": "Term Loan [Member]"
       }
      }
     },
     "localname": "TermLoanMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TermLoanUnhedgedPortionMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Term Loan, Unhedged Portion [Member]",
        "label": "Term Loan, Unhedged Portion [Member]",
        "terseLabel": "Term Loan, Unhedged Portion [Member]"
       }
      }
     },
     "localname": "TermLoanUnhedgedPortionMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TotalVailResortsIncStockholdersEquityMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total Stockholders Equity Parent [Member]",
        "label": "Total Vail Resorts, Inc. Stockholders' Equity [Member]",
        "terseLabel": "Total Vail Resorts, Inc. Stockholders' Equity [Member]"
       }
      }
     },
     "localname": "TotalVailResortsIncStockholdersEquityMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TrancheBMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tranche B",
        "label": "Tranche B [Member]",
        "terseLabel": "Tranche B [Member]"
       }
      }
     },
     "localname": "TrancheBMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TrancheOfDebtDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tranche of Debt",
        "label": "Tranche of Debt [Domain]",
        "terseLabel": "Tranche of Debt [Domain]"
       }
      }
     },
     "localname": "TrancheOfDebtDomain",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TrancheaMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tranche A [Member]",
        "label": "TrancheA [Member]",
        "terseLabel": "Tranche A [Member]"
       }
      }
     },
     "localname": "TrancheaMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TransportationMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Transportation [Member]",
        "label": "Transportation [Member]",
        "terseLabel": "Transportation"
       }
      }
     },
     "localname": "TransportationMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_TriplePeaksLLCMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Triple Peaks, LLC [Member]",
        "label": "Triple Peaks, LLC [Member]",
        "terseLabel": "Triple Peaks, LLC [Member]"
       }
      }
     },
     "localname": "TriplePeaksLLCMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_USRefundablePayrollTaxCredits": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "US Refundable Payroll Tax Credits",
        "label": "US Refundable Payroll Tax Credits",
        "terseLabel": "US Refundable Payroll Tax Credits"
       }
      }
     },
     "localname": "USRefundablePayrollTaxCredits",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_UnfavorableLeaseObligationNet": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails": {
       "order": 3.0,
       "parentTag": "mtn_OtherLongTermLiabilitiesNoncurrent",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount as of the balance sheet date of unfavorable lease obligations.",
        "label": "Unfavorable Lease Obligation Net",
        "terseLabel": "Unfavorable lease obligations, net"
       }
      }
     },
     "localname": "UnfavorableLeaseObligationNet",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_UnrecognizedCompensationExpenseAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Unrecognized Compensation Expense",
        "label": "Unrecognized Compensation Expense [Axis]",
        "terseLabel": "Unrecognized Compensation Expense [Axis]"
       }
      }
     },
     "localname": "UnrecognizedCompensationExpenseAxis",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "mtn_UnrecognizedCompensationExpenseDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Unrecognized Compensation Expense",
        "label": "Unrecognized Compensation Expense [Domain]",
        "terseLabel": "Unrecognized Compensation Expense [Domain]"
       }
      }
     },
     "localname": "UnrecognizedCompensationExpenseDomain",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit",
        "label": "VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit",
        "terseLabel": "VHI Credit Agreement Waiver Period Annual Capital Expenditure Limit"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodAnnualCapitalExpenditureLimit",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodMinimumLiquidity": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Minimum Liquidity",
        "label": "VHI Credit Agreement Waiver Period Minimum Liquidity",
        "terseLabel": "VHI Credit Agreement Waiver Period Minimum Liquidity"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodMinimumLiquidity",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Quarterly Distribution Limit",
        "label": "VHI Credit Agreement Waiver Period Quarterly Distribution Limit",
        "terseLabel": "VHI Credit Agreement Waiver Period Quarterly Distribution Limit"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodQuarterlyDistributionLimit",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Required Liquidity for Distribution",
        "label": "VHI Credit Agreement Waiver Period Required Liquidity for Distribution",
        "terseLabel": "VHI Credit Agreement Waiver Period Required Liquidity for Distribution"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodRequiredLiquidityforDistribution",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries",
        "label": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries",
        "terseLabel": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Nonsubsidiaries"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinNonsubsidiaries",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries",
        "label": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries",
        "terseLabel": "VHI Credit Agreement Waiver Period Required Liquidity for Investment in Unrestricted Subsidiaries"
       }
      }
     },
     "localname": "VHICreditAgreementWaiverPeriodRequiredLiquidityforInvestmentinUnrestrictedSubsidiaries",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_VehiclesGross": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross amount, as of the balance sheet date, of long-lived, depreciable assets that include automobiles and trucks.",
        "label": "Vehicles Gross",
        "terseLabel": "Vehicles"
       }
      }
     },
     "localname": "VehiclesGross",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "mtn_WeightedAverageNumberofSharesOutstandingCommon": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted Average Number of Shares Outstanding, Common",
        "label": "Weighted Average Number of Shares Outstanding, Common",
        "terseLabel": "Weighted Average Number of Shares Outstanding, Common"
       }
      }
     },
     "localname": "WeightedAverageNumberofSharesOutstandingCommon",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_WeightedAverageNumberofSharesOutstandingExchangeable": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted Average Number of Shares Outstanding, Exchangeable",
        "label": "Weighted Average Number of Shares Outstanding, Exchangeable",
        "terseLabel": "Weighted Average Number of Shares Outstanding, Exchangeable"
       }
      }
     },
     "localname": "WeightedAverageNumberofSharesOutstandingExchangeable",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "mtn_WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]",
        "label": "Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]",
        "terseLabel": "Weighted Average Remaining Lease Terms and Discount Rates [Table Text Block]"
       }
      }
     },
     "localname": "WeightedAverageRemainingLeaseTermsandDiscountRatesTableTextBlock",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "mtn_WhistlerCreditAgreementrevolverMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Whistler Credit Agreement revolver [Member]",
        "label": "Whistler Credit Agreement revolver [Member]",
        "terseLabel": "Whistler Credit Agreement revolver [Member]"
       }
      }
     },
     "localname": "WhistlerCreditAgreementrevolverMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "mtn_WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Workers Compensation and General Liability Related to Construction and Development Activities [Member]",
        "label": "Workers' Compensation and General Liability Related to Construction and Development Activities [Member]",
        "terseLabel": "Workers' Compensation and General Liability Related to Construction and Development Activities [Member]"
       }
      }
     },
     "localname": "WorkersCompensationAndGeneralLiabilityRelatedToConstructionAndDevelopmentActivitiesMember",
     "nsuri": "http://www.vailresorts.com/20200731",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_ConsolidationItemsAxis": {
     "auth_ref": [
      "r177",
      "r190",
      "r191",
      "r192",
      "r193",
      "r195",
      "r197",
      "r201"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Consolidation Items [Axis]",
        "terseLabel": "Consolidation Items [Axis]"
       }
      }
     },
     "localname": "ConsolidationItemsAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_ConsolidationItemsDomain": {
     "auth_ref": [
      "r177",
      "r190",
      "r191",
      "r192",
      "r193",
      "r195",
      "r197",
      "r201"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Consolidation Items [Domain]",
        "terseLabel": "Consolidation Items [Domain]"
       }
      }
     },
     "localname": "ConsolidationItemsDomain",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_CurrencyAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Currency [Axis]",
        "terseLabel": "Currency [Axis]"
       }
      }
     },
     "localname": "CurrencyAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_EquityMethodInvesteeNameDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Investment, Name [Domain]",
        "terseLabel": "Equity Method Investee, Name [Domain]"
       }
      }
     },
     "localname": "EquityMethodInvesteeNameDomain",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_MaximumMember": {
     "auth_ref": [
      "r343",
      "r346",
      "r543",
      "r544",
      "r545",
      "r546",
      "r547",
      "r548",
      "r550",
      "r613",
      "r616"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Maximum [Member]",
        "terseLabel": "Maximum [Member]"
       }
      }
     },
     "localname": "MaximumMember",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_MinimumMember": {
     "auth_ref": [
      "r343",
      "r346",
      "r543",
      "r544",
      "r545",
      "r546",
      "r547",
      "r548",
      "r550",
      "r613",
      "r616"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Minimum [Member]",
        "terseLabel": "Minimum [Member]"
       }
      }
     },
     "localname": "MinimumMember",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_ProductOrServiceAxis": {
     "auth_ref": [
      "r203",
      "r319",
      "r323",
      "r551",
      "r612",
      "r614"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Product and Service [Axis]",
        "terseLabel": "Product and Service [Axis]"
       }
      }
     },
     "localname": "ProductOrServiceAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_ProductsAndServicesDomain": {
     "auth_ref": [
      "r203",
      "r319",
      "r323",
      "r551",
      "r612",
      "r614"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Product and Service [Domain]",
        "terseLabel": "Product and Service [Domain]"
       }
      }
     },
     "localname": "ProductsAndServicesDomain",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_RangeAxis": {
     "auth_ref": [
      "r331",
      "r343",
      "r346",
      "r543",
      "r544",
      "r545",
      "r546",
      "r547",
      "r548",
      "r550",
      "r613",
      "r616"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statistical Measurement [Axis]",
        "terseLabel": "Statistical Measurement [Axis]"
       }
      }
     },
     "localname": "RangeAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_RangeMember": {
     "auth_ref": [
      "r331",
      "r343",
      "r346",
      "r543",
      "r544",
      "r545",
      "r546",
      "r547",
      "r548",
      "r550",
      "r613",
      "r616"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statistical Measurement [Domain]",
        "terseLabel": "Statistical Measurement [Domain]"
       }
      }
     },
     "localname": "RangeMember",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_ScenarioForecastMember": {
     "auth_ref": [
      "r344"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Forecast [Member]",
        "terseLabel": "Forecast [Member]"
       }
      }
     },
     "localname": "ScenarioForecastMember",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_ScenarioUnspecifiedDomain": {
     "auth_ref": [
      "r344"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Scenario [Domain]",
        "terseLabel": "Scenario [Domain]"
       }
      }
     },
     "localname": "ScenarioUnspecifiedDomain",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis": {
     "auth_ref": [
      "r221"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Investment, Name [Axis]",
        "terseLabel": "Schedule of Equity Method Investment, Equity Method Investee, Name [Axis]"
       }
      }
     },
     "localname": "ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_SegmentGeographicalDomain": {
     "auth_ref": [
      "r204",
      "r205",
      "r319",
      "r324",
      "r615",
      "r631",
      "r632",
      "r633",
      "r634",
      "r635",
      "r636",
      "r637",
      "r638"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Geographical [Domain]",
        "terseLabel": "All Countries [Domain]"
       }
      }
     },
     "localname": "SegmentGeographicalDomain",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "srt_StatementGeographicalAxis": {
     "auth_ref": [
      "r204",
      "r205",
      "r319",
      "r324",
      "r615",
      "r625",
      "r631",
      "r632",
      "r633",
      "r634",
      "r635",
      "r636",
      "r637",
      "r638",
      "r639"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Geographical [Axis]",
        "terseLabel": "Geographical [Axis]"
       }
      }
     },
     "localname": "StatementGeographicalAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "srt_StatementScenarioAxis": {
     "auth_ref": [
      "r280",
      "r344",
      "r539"
     ],
     "lang": {
      "en-US": {
       "role": {
        "label": "Scenario [Axis]",
        "terseLabel": "Scenario [Axis]"
       }
      }
     },
     "localname": "StatementScenarioAxis",
     "nsuri": "http://fasb.org/srt/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AcceleratedShareRepurchasesDateAxis": {
     "auth_ref": [
      "r304"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by date of execution of accelerated share repurchases.",
        "label": "Accelerated Share Repurchases, Date [Axis]",
        "terseLabel": "Accelerated Share Repurchases, Date [Axis]"
       }
      }
     },
     "localname": "AcceleratedShareRepurchasesDateAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AcceleratedShareRepurchasesDateDomain": {
     "auth_ref": [
      "r304"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date upon which the accelerated share repurchase agreement was executed.",
        "label": "Accelerated Share Repurchases, Date [Domain]",
        "terseLabel": "Accelerated Share Repurchases, Date [Domain]"
       }
      }
     },
     "localname": "AcceleratedShareRepurchasesDateDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_AcceleratedShareRepurchasesLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Accelerated Share Repurchases [Line Items]",
        "terseLabel": "Accelerated Share Repurchases [Line Items]"
       }
      }
     },
     "localname": "AcceleratedShareRepurchasesLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AcceleratedShareRepurchasesTable": {
     "auth_ref": [
      "r304"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A table reflecting activity in an accelerated share repurchase (ASR) program.",
        "label": "Accelerated Share Repurchases [Table]",
        "terseLabel": "Accelerated Share Repurchases [Table]"
       }
      }
     },
     "localname": "AcceleratedShareRepurchasesTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AccountingPoliciesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Accounting Policies [Abstract]"
       }
      }
     },
     "localname": "AccountingPoliciesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_AccountsPayableTradeCurrent": {
     "auth_ref": [
      "r11",
      "r40"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 1.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).",
        "label": "Accounts Payable, Trade, Current",
        "terseLabel": "Trade payables"
       }
      }
     },
     "localname": "AccountsPayableTradeCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccountsReceivableNetCurrent": {
     "auth_ref": [
      "r5",
      "r25",
      "r210",
      "r211"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 3.0,
       "parentTag": "us-gaap_AssetsCurrent",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.",
        "label": "Accounts Receivable, after Allowance for Credit Loss, Current",
        "terseLabel": "Accounts receivable, net of allowances of $2,484 and $724, respectively",
        "verboseLabel": "Accounts Receivable, after Allowance for Credit Loss, Current"
       }
      }
     },
     "localname": "AccountsReceivableNetCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/RevenuesContractBalancesDetails",
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccretionExpense": {
     "auth_ref": [
      "r272",
      "r273"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 7.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations.",
        "label": "Accretion Expense",
        "terseLabel": "Accretion Expense",
        "verboseLabel": "Canyons obligation accreted interest expense"
       }
      }
     },
     "localname": "AccretionExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccruedEmployeeBenefitsCurrent": {
     "auth_ref": [
      "r10",
      "r11",
      "r44"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 2.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).",
        "label": "Accrued Employee Benefits, Current",
        "terseLabel": "Accrued benefits"
       }
      }
     },
     "localname": "AccruedEmployeeBenefitsCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccruedIncomeTaxesCurrent": {
     "auth_ref": [
      "r18",
      "r571",
      "r595"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_LiabilitiesCurrent",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.",
        "label": "Accrued Income Taxes, Current",
        "terseLabel": "Income taxes payable"
       }
      }
     },
     "localname": "AccruedIncomeTaxesCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccruedSalariesCurrent": {
     "auth_ref": [
      "r10",
      "r11",
      "r44"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 3.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).",
        "label": "Accrued Salaries, Current",
        "terseLabel": "Accrued salaries, wages and deferred compensation"
       }
      }
     },
     "localname": "AccruedSalariesCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment": {
     "auth_ref": [
      "r38",
      "r266"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentNet",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.",
        "label": "Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment",
        "negatedLabel": "Accumulated depreciation"
       }
      }
     },
     "localname": "AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax": {
     "auth_ref": [
      "r28",
      "r62",
      "r64",
      "r65",
      "r598",
      "r621",
      "r622"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 4.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.",
        "label": "Accumulated Other Comprehensive Income (Loss), Net of Tax",
        "verboseLabel": "Accumulated other comprehensive loss"
       }
      }
     },
     "localname": "AccumulatedOtherComprehensiveIncomeLossNetOfTax",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AccumulatedOtherComprehensiveIncomeMember": {
     "auth_ref": [
      "r61",
      "r65",
      "r66",
      "r128",
      "r129",
      "r130",
      "r462",
      "r617",
      "r618"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Accumulated increase (decrease) in equity from transactions and other events and circumstances from non-owner sources, attributable to the parent. Excludes net income (loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners.",
        "label": "AOCI Attributable to Parent [Member]",
        "terseLabel": "Accumulated Other Comprehensive Loss [Member]"
       }
      }
     },
     "localname": "AccumulatedOtherComprehensiveIncomeMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_AdditionalPaidInCapitalCommonStock": {
     "auth_ref": [
      "r26"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 3.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.",
        "label": "Additional Paid in Capital, Common Stock",
        "terseLabel": "Additional paid-in capital"
       }
      }
     },
     "localname": "AdditionalPaidInCapitalCommonStock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AdditionalPaidInCapitalMember": {
     "auth_ref": [
      "r128",
      "r129",
      "r130",
      "r376",
      "r377",
      "r378"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders.",
        "label": "Additional Paid-in Capital [Member]",
        "terseLabel": "Additional Paid in Capital [Member]"
       }
      }
     },
     "localname": "AdditionalPaidInCapitalMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]",
        "terseLabel": "Adjustments to reconcile net income to net cash provided by operating activities:"
       }
      }
     },
     "localname": "AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AdvertisingCostsPolicyTextBlock": {
     "auth_ref": [
      "r386"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for advertising cost.",
        "label": "Advertising Cost [Policy Text Block]",
        "terseLabel": "Advertising Costs"
       }
      }
     },
     "localname": "AdvertisingCostsPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_AdvertisingExpense": {
     "auth_ref": [
      "r387"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.",
        "label": "Advertising Expense",
        "terseLabel": "Advertising expense"
       }
      }
     },
     "localname": "AdvertisingExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AllocatedShareBasedCompensationExpense": {
     "auth_ref": [
      "r349",
      "r372",
      "r381"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of expense for award under share-based payment arrangement. Excludes amount capitalized.",
        "label": "Share-based Payment Arrangement, Expense",
        "terseLabel": "Pre-tax stock-based compensation expense"
       }
      }
     },
     "localname": "AllocatedShareBasedCompensationExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after tax, of expense for award under share-based payment arrangement.",
        "label": "Share-based Payment Arrangement, Expense, after Tax",
        "totalLabel": "Net stock-based compensation expense"
       }
      }
     },
     "localname": "AllocatedShareBasedCompensationExpenseNetOfTax",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent": {
     "auth_ref": [
      "r32",
      "r216",
      "r227"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of allowance for credit loss on accounts receivable, classified as current.",
        "label": "Accounts Receivable, Allowance for Credit Loss, Current",
        "terseLabel": "Trade receivables, allowances"
       }
      }
     },
     "localname": "AllowanceForDoubtfulAccountsReceivableCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AmortizationOfFinancingCosts": {
     "auth_ref": [
      "r82",
      "r103",
      "r503"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization expense attributable to debt issuance costs.",
        "label": "Amortization of Debt Issuance Costs",
        "terseLabel": "Amortization of Financing Costs"
       }
      }
     },
     "localname": "AmortizationOfFinancingCosts",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AmortizationOfIntangibleAssets": {
     "auth_ref": [
      "r103",
      "r249",
      "r257"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.",
        "label": "Amortization of Intangible Assets",
        "terseLabel": "Amortization of Intangible Assets"
       }
      }
     },
     "localname": "AmortizationOfIntangibleAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount": {
     "auth_ref": [
      "r151"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.",
        "label": "Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount",
        "verboseLabel": "Anti-dilutive securities (in shares)"
       }
      }
     },
     "localname": "AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_AssetImpairmentCharges": {
     "auth_ref": [
      "r103",
      "r262"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 1.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 7.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.",
        "label": "Asset Impairment Charges",
        "negatedTerseLabel": "Asset impairments (Notes 2 &amp; 8)",
        "terseLabel": "Asset impairments"
       }
      }
     },
     "localname": "AssetImpairmentCharges",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_Assets": {
     "auth_ref": [
      "r117",
      "r185",
      "r192",
      "r199",
      "r223",
      "r455",
      "r463",
      "r486",
      "r569",
      "r594"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.",
        "label": "Assets",
        "totalLabel": "Total assets"
       }
      }
     },
     "localname": "Assets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AssetsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Assets [Abstract]",
        "terseLabel": "Assets"
       }
      }
     },
     "localname": "AssetsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_AssetsCurrent": {
     "auth_ref": [
      "r6",
      "r7",
      "r58",
      "r117",
      "r223",
      "r455",
      "r463",
      "r486"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.",
        "label": "Assets, Current",
        "totalLabel": "Total current assets"
       }
      }
     },
     "localname": "AssetsCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_AwardTypeAxis": {
     "auth_ref": [
      "r351",
      "r374"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of award under share-based payment arrangement.",
        "label": "Award Type [Axis]",
        "terseLabel": "Award Type [Axis]"
       }
      }
     },
     "localname": "AwardTypeAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_BalanceSheetLocationAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by location on balance sheet (statement of financial position).",
        "label": "Balance Sheet Location [Axis]",
        "terseLabel": "Balance Sheet Location [Axis]"
       }
      }
     },
     "localname": "BalanceSheetLocationAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_BalanceSheetLocationDomain": {
     "auth_ref": [
      "r469",
      "r471"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Location in the balance sheet (statement of financial position).",
        "label": "Balance Sheet Location [Domain]",
        "terseLabel": "Balance Sheet Location [Domain]"
       }
      }
     },
     "localname": "BalanceSheetLocationDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_BalanceSheetRelatedDisclosuresAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Balance Sheet Related Disclosures [Abstract]"
       }
      }
     },
     "localname": "BalanceSheetRelatedDisclosuresAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_BuildingAndBuildingImprovementsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Facility held for productive use including, but not limited to, office, production, storage and distribution facilities and any addition, improvement, or renovation to the structure, for example, but not limited to, interior masonry, interior flooring, electrical, and plumbing.",
        "label": "Building and Building Improvements [Member]",
        "terseLabel": "Buildings and Building Improvements [Member]"
       }
      }
     },
     "localname": "BuildingAndBuildingImprovementsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_BuildingsAndImprovementsGross": {
     "auth_ref": [
      "r9",
      "r265"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing.",
        "label": "Buildings and Improvements, Gross",
        "terseLabel": "Buildings and building improvements"
       }
      }
     },
     "localname": "BuildingsAndImprovementsGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessAcquisitionAcquireeDomain": {
     "auth_ref": [
      "r342",
      "r345"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Identification of the acquiree in a material business combination (or series of individually immaterial business combinations), which may include the name or other type of identification of the acquiree.",
        "label": "Business Acquisition, Acquiree [Domain]",
        "terseLabel": "Business Acquisition, Acquiree [Domain]"
       }
      }
     },
     "localname": "BusinessAcquisitionAcquireeDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_BusinessAcquisitionAxis": {
     "auth_ref": [
      "r342",
      "r345",
      "r438",
      "r439"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by business combination or series of individually immaterial business combinations.",
        "label": "Business Acquisition [Axis]",
        "terseLabel": "Business Acquisition [Axis]"
       }
      }
     },
     "localname": "BusinessAcquisitionAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition1": {
     "auth_ref": [
      "r432",
      "r433",
      "r434"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date when the acquirer obtains control of the acquiree, in CCYY-MM-DD format.",
        "label": "Business Acquisition, Effective Date of Acquisition",
        "terseLabel": "Business Acquisition, Effective Date of Acquisition"
       }
      }
     },
     "localname": "BusinessAcquisitionEffectiveDateOfAcquisition1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_BusinessAcquisitionLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Business Acquisition [Line Items]",
        "terseLabel": "Business Acquisition [Line Items]"
       }
      }
     },
     "localname": "BusinessAcquisitionLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_BusinessAcquisitionProFormaEarningsPerShareBasic": {
     "auth_ref": [
      "r436",
      "r437"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.",
        "label": "Business Acquisition, Pro Forma Earnings Per Share, Basic",
        "terseLabel": "Pro forma basic net income per share attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "BusinessAcquisitionProFormaEarningsPerShareBasic",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_BusinessAcquisitionProFormaEarningsPerShareDiluted": {
     "auth_ref": [
      "r436",
      "r437"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.",
        "label": "Business Acquisition, Pro Forma Earnings Per Share, Diluted",
        "terseLabel": "Pro forma diluted net income per share attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "BusinessAcquisitionProFormaEarningsPerShareDiluted",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_BusinessAcquisitionProFormaInformationTextBlock": {
     "auth_ref": [
      "r436",
      "r437"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.",
        "label": "Business Acquisition, Pro Forma Information [Table Text Block]",
        "terseLabel": "Business Acquisition, Pro Forma Information [Table Text Block]"
       }
      }
     },
     "localname": "BusinessAcquisitionProFormaInformationTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_BusinessAcquisitionSharePrice": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Price of a single share of a number of saleable stocks paid or offered to be paid in a business combination.",
        "label": "Business Acquisition, Share Price",
        "terseLabel": "Business Acquisition, Share Price"
       }
      }
     },
     "localname": "BusinessAcquisitionSharePrice",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss": {
     "auth_ref": [
      "r436",
      "r437"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.",
        "label": "Business Acquisition, Pro Forma Net Income (Loss)",
        "terseLabel": "Pro forma net income attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "BusinessAcquisitionsProFormaNetIncomeLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessAcquisitionsProFormaRevenue": {
     "auth_ref": [
      "r436",
      "r437"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period.",
        "label": "Business Acquisition, Pro Forma Revenue",
        "terseLabel": "Pro forma net revenue"
       }
      }
     },
     "localname": "BusinessAcquisitionsProFormaRevenue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryProFormaFinancialInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationConsiderationTransferred1": {
     "auth_ref": [
      "r443",
      "r444",
      "r445"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.",
        "label": "Business Combination, Consideration Transferred",
        "terseLabel": "Business Combination, Consideration Transferred"
       }
      }
     },
     "localname": "BusinessCombinationConsiderationTransferred1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationConsiderationTransferredOther1": {
     "auth_ref": [
      "r446"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of tangible or intangible assets, including a business or subsidiary of the acquirer transferred by the entity to the former owners of the acquiree. Excludes cash.",
        "label": "Business Combination, Consideration Transferred, Other",
        "terseLabel": "Business Combination, Consideration Transferred, Other"
       }
      }
     },
     "localname": "BusinessCombinationConsiderationTransferredOther1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1": {
     "auth_ref": [
      "r102",
      "r448"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) in the value of a contingent consideration liability, including, but not limited to, differences arising upon settlement.",
        "label": "Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability",
        "terseLabel": "Change in Fair Value of Contingent Consideration"
       }
      }
     },
     "localname": "BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationContingentConsiderationArrangementsDescription": {
     "auth_ref": [
      "r447"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "For contingent consideration arrangements recognized in connection with a business combination, this element represents a description of such arrangements.",
        "label": "Business Combination, Contingent Consideration Arrangements, Description",
        "terseLabel": "Business Combination, Contingent Consideration Arrangements, Description"
       }
      }
     },
     "localname": "BusinessCombinationContingentConsiderationArrangementsDescription",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_BusinessCombinationDisclosureTextBlock": {
     "auth_ref": [
      "r449"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).",
        "label": "Business Combination Disclosure [Text Block]",
        "terseLabel": "Acquisitions"
       }
      }
     },
     "localname": "BusinessCombinationDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount due from customers or clients for goods or services, including trade receivables, that have been delivered or sold in the normal course of business, and amounts due from others, including related parties expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer, acquired at the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax asset attributable to deductible temporary differences and carryforwards acquired at the acquisition date.",
        "label": "Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of intangible assets, excluding goodwill, acquired at the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of liabilities assumed at the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities",
        "negatedTerseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet": {
     "auth_ref": [
      "r440",
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt": {
     "auth_ref": [
      "r441"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt due after one year or the normal operating cycle, if longer, assumed at the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt",
        "negatedTerseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment": {
     "auth_ref": [
      "r440",
      "r441"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount of property, plant, and equipment recognized as of the acquisition date.",
        "label": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment",
        "terseLabel": "Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment"
       }
      }
     },
     "localname": "BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed": {
     "auth_ref": [
      "r435"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "For transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination, such as related to pre-existing relationships with the acquiree, this element represents the disclosure of the amount of acquisition related costs which have been expensed.",
        "label": "Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed",
        "terseLabel": "Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed"
       }
      }
     },
     "localname": "BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_BusinessCombinationsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Business Combinations [Abstract]"
       }
      }
     },
     "localname": "BusinessCombinationsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_CanadaRevenueAgencyMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Designated tax department of the government of Canada.",
        "label": "Canada Revenue Agency [Member]",
        "terseLabel": "Canadian [Member]"
       }
      }
     },
     "localname": "CanadaRevenueAgencyMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CapitalExpendituresIncurredButNotYetPaid": {
     "auth_ref": [
      "r108",
      "r109",
      "r110"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Future cash outflow to pay for purchases of fixed assets that have occurred.",
        "label": "Capital Expenditures Incurred but Not yet Paid",
        "terseLabel": "Accrued capital expenditures"
       }
      }
     },
     "localname": "CapitalExpendituresIncurredButNotYetPaid",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasedAssetsGross": {
     "auth_ref": [
      "r507"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails": {
       "order": 2.0,
       "parentTag": "mtn_CapitalLeasedAssetsNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services.",
        "label": "Capital Leased Assets, Gross",
        "terseLabel": "Capital Leased Assets, Gross",
        "totalLabel": "Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment Gross (under Capital Lease)"
       }
      }
     },
     "localname": "CapitalLeasedAssetsGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDue": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases.",
        "label": "Capital Leases, Future Minimum Payments Due",
        "terseLabel": "Capital Leases, Future Minimum Payments Due"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due, Next Twelve Months",
        "terseLabel": "Capital Leases, Future Minimum Payments Due, Next Twelve Months"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due in Five Years",
        "terseLabel": "Capital Leases, Future Minimum Payments Due in Five Years"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueInFiveYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due in Four Years",
        "terseLabel": "Capital Leases, Future Minimum Payments Due in Four Years"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueInFourYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due in Three Years",
        "terseLabel": "Capital Leases, Future Minimum Payments Due in Three Years"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueInThreeYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due in Two Years",
        "terseLabel": "Capital Leases, Future Minimum Payments Due in Two Years"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueInTwoYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of minimum lease payments for capital leases due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Capital Leases, Future Minimum Payments Due Thereafter",
        "terseLabel": "Capital Leases, Future Minimum Payments Due Thereafter"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsDueThereafter",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount necessary to reduce net minimum lease payments to present value for capital leases.",
        "label": "Capital Leases, Future Minimum Payments, Interest Included in Payments",
        "negatedTerseLabel": "Capital Leases, Future Minimum Payments, Interest Included in Payments"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments": {
     "auth_ref": [
      "r508"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes.",
        "label": "Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments",
        "terseLabel": "Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments"
       }
      }
     },
     "localname": "CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalizedComputerSoftwareGross": {
     "auth_ref": [
      "r640"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated amortization of capitalized costs for computer software, including but not limited to, acquired and internally developed computer software.",
        "label": "Capitalized Computer Software, Gross",
        "terseLabel": "Software"
       }
      }
     },
     "localname": "CapitalizedComputerSoftwareGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalizedContractCostAmortization": {
     "auth_ref": [
      "r235"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization expense for asset recognized from cost incurred to obtain or fulfill contract with customer.",
        "label": "Capitalized Contract Cost, Amortization",
        "terseLabel": "Capitalized Contract Cost, Amortization"
       }
      }
     },
     "localname": "CapitalizedContractCostAmortization",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CapitalizedContractCostNet": {
     "auth_ref": [
      "r234"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after accumulated amortization and accumulated impairment loss, of asset recognized from cost incurred to obtain or fulfill contract with customer.",
        "label": "Capitalized Contract Cost, Net",
        "terseLabel": "Capitalized Contract Cost, Net"
       }
      }
     },
     "localname": "CapitalizedContractCostNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesCostsToObtainContractsWithCustomersDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CashAndCashEquivalentsAtCarryingValue": {
     "auth_ref": [
      "r3",
      "r34",
      "r105"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_AssetsCurrent",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.",
        "label": "Cash and Cash Equivalents, at Carrying Value",
        "terseLabel": "Cash and cash equivalents"
       }
      }
     },
     "localname": "CashAndCashEquivalentsAtCarryingValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CashAndCashEquivalentsFairValueDisclosure": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Cash and Cash Equivalents, Fair Value Disclosure",
        "terseLabel": "Cash and Cash Equivalents, Fair Value Disclosure"
       }
      }
     },
     "localname": "CashAndCashEquivalentsFairValueDisclosure",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Cash and Cash Equivalents, Period Increase (Decrease) [Abstract]",
        "terseLabel": "Cash, cash equivalents and restricted cash:"
       }
      }
     },
     "localname": "CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_CashAndCashEquivalentsPolicyTextBlock": {
     "auth_ref": [
      "r14",
      "r106",
      "r113"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.",
        "label": "Cash and Cash Equivalents, Policy [Policy Text Block]",
        "terseLabel": "Cash and Cash Equivalents"
       }
      }
     },
     "localname": "CashAndCashEquivalentsPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents": {
     "auth_ref": [
      "r97",
      "r105",
      "r111"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents",
        "periodEndLabel": "End of period",
        "periodStartLabel": "Beginning of period"
       }
      }
     },
     "localname": "CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect": {
     "auth_ref": [
      "r97",
      "r491"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect",
        "totalLabel": "Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect"
       }
      }
     },
     "localname": "CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CashFlowSupplementalDisclosuresTextBlock": {
     "auth_ref": [
      "r112"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. \"Part noncash\" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.",
        "label": "Cash Flow, Supplemental Disclosures [Text Block]",
        "terseLabel": "Cash Flow, Supplemental Disclosures [Text Block]"
       }
      }
     },
     "localname": "CashFlowSupplementalDisclosuresTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_CertificatesOfDepositMember": {
     "auth_ref": [
      "r588"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Short to medium-term investment available at banks and savings and loan institutions where a customer agrees to lend money to the institution for a certain amount of time and is paid a predetermined rate of interest. Certificates of deposit (CD) are typically Federal Deposit Insurance Corporation (FDIC) insured.",
        "label": "Certificates of Deposit [Member]",
        "terseLabel": "Certificates of Deposit [Member]"
       }
      }
     },
     "localname": "CertificatesOfDepositMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1": {
     "auth_ref": [
      "r473"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement.",
        "label": "Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments",
        "terseLabel": "Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments"
       }
      }
     },
     "localname": "ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ClassOfStockDomain": {
     "auth_ref": [
      "r116",
      "r117",
      "r144",
      "r145",
      "r146",
      "r148",
      "r150",
      "r163",
      "r164",
      "r165",
      "r223",
      "r486"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Share of stock differentiated by the voting rights the holder receives. Examples include, but are not limited to, common stock, redeemable preferred stock, nonredeemable preferred stock, and convertible stock.",
        "label": "Class of Stock [Domain]",
        "terseLabel": "Class of Stock [Domain]"
       }
      }
     },
     "localname": "ClassOfStockDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommercialPaperMember": {
     "auth_ref": [
      "r289"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Unsecured promissory note (generally negotiable) that provides institutions with short-term funds.",
        "label": "Commercial Paper [Member]",
        "terseLabel": "Commercial Paper [Member]"
       }
      }
     },
     "localname": "CommercialPaperMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommitmentsAndContingencies": {
     "auth_ref": [
      "r51",
      "r279",
      "r577",
      "r603"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.",
        "label": "Commitments and Contingencies",
        "verboseLabel": "Commitments and contingencies (Note 13)"
       }
      }
     },
     "localname": "CommitmentsAndContingencies",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CommitmentsAndContingenciesDisclosureAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Commitments and Contingencies Disclosure [Abstract]"
       }
      }
     },
     "localname": "CommitmentsAndContingenciesDisclosureAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_CommitmentsAndContingenciesDisclosureTextBlock": {
     "auth_ref": [
      "r276",
      "r277",
      "r278",
      "r286"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for commitments and contingencies.",
        "label": "Commitments and Contingencies Disclosure [Text Block]",
        "terseLabel": "Commitments and Contingencies"
       }
      }
     },
     "localname": "CommitmentsAndContingenciesDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingencies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_CommonStockDividendsPerShareCashPaid": {
     "auth_ref": [
      "r303"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate dividends paid during the period for each share of common stock outstanding.",
        "label": "Common Stock, Dividends, Per Share, Cash Paid",
        "terseLabel": "Common Stock, Dividends, Per Share, Cash Paid"
       }
      }
     },
     "localname": "CommonStockDividendsPerShareCashPaid",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_CommonStockDividendsPerShareDeclared": {
     "auth_ref": [
      "r303"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate dividends declared during the period for each share of common stock outstanding.",
        "label": "Common Stock, Dividends, Per Share, Declared",
        "terseLabel": "Cash dividends declared per share",
        "verboseLabel": "Cash dividends declared per share (in dollars per share)"
       }
      }
     },
     "localname": "CommonStockDividendsPerShareDeclared",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_CommonStockMember": {
     "auth_ref": [
      "r128",
      "r129"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Stock that is subordinate to all other stock of the issuer.",
        "label": "Common Stock [Member]",
        "terseLabel": "Common Stock [Member]"
       }
      }
     },
     "localname": "CommonStockMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommonStockParOrStatedValuePerShare": {
     "auth_ref": [
      "r24"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Face amount or stated value per share of common stock.",
        "label": "Common Stock, Par or Stated Value Per Share",
        "terseLabel": "Common stock, par value (in dollars per share)"
       }
      }
     },
     "localname": "CommonStockParOrStatedValuePerShare",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_CommonStockSharesAuthorized": {
     "auth_ref": [
      "r24"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The maximum number of common shares permitted to be issued by an entity's charter and bylaws.",
        "label": "Common Stock, Shares Authorized",
        "terseLabel": "Common stock, shares authorized"
       }
      }
     },
     "localname": "CommonStockSharesAuthorized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_CommonStockSharesIssued": {
     "auth_ref": [
      "r24"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.",
        "label": "Common Stock, Shares, Issued",
        "terseLabel": "Common stock, shares issued"
       }
      }
     },
     "localname": "CommonStockSharesIssued",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_CommonStockValue": {
     "auth_ref": [
      "r24"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.",
        "label": "Common Stock, Value, Issued",
        "verboseLabel": "Common stock, $0.01 par value, 100,000 shares authorized and 46,350 and 46,190 shares issued, respectively"
       }
      }
     },
     "localname": "CommonStockValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CompensationAndRetirementDisclosureAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Retirement Benefits [Abstract]"
       }
      }
     },
     "localname": "CompensationAndRetirementDisclosureAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_ComprehensiveIncomeNetOfTax": {
     "auth_ref": [
      "r68",
      "r70",
      "r71",
      "r80",
      "r582",
      "r608"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.",
        "label": "Comprehensive Income (Loss), Net of Tax, Attributable to Parent",
        "terseLabel": "Comprehensive income",
        "totalLabel": "Comprehensive income attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "ComprehensiveIncomeNetOfTax",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest": {
     "auth_ref": [
      "r68",
      "r70",
      "r79",
      "r453",
      "r454",
      "r467",
      "r581",
      "r607"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": 2.0,
       "parentTag": "us-gaap_ComprehensiveIncomeNetOfTax",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.",
        "label": "Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest",
        "negatedTerseLabel": "Comprehensive income attributable to noncontrolling interests",
        "terseLabel": "Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest"
       }
      }
     },
     "localname": "ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest": {
     "auth_ref": [
      "r68",
      "r70",
      "r78",
      "r452",
      "r467",
      "r580",
      "r606"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": 1.0,
       "parentTag": "us-gaap_ComprehensiveIncomeNetOfTax",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.",
        "label": "Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest",
        "terseLabel": "Total comprehensive income",
        "totalLabel": "Comprehensive income"
       }
      }
     },
     "localname": "ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ConsolidationPolicyTextBlock": {
     "auth_ref": [
      "r113",
      "r457"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.",
        "label": "Consolidation, Policy [Policy Text Block]",
        "terseLabel": "Principles of Consolidation"
       }
      }
     },
     "localname": "ConsolidationPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ConstructionInProgressGross": {
     "auth_ref": [
      "r265"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.",
        "label": "Construction in Progress, Gross",
        "terseLabel": "Construction in progress"
       }
      }
     },
     "localname": "ConstructionInProgressGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ContractWithCustomerLiability": {
     "auth_ref": [
      "r309",
      "r310",
      "r320"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.",
        "label": "Contract with Customer, Liability",
        "terseLabel": "Contract with Customer, Liability"
       }
      }
     },
     "localname": "ContractWithCustomerLiability",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesContractBalancesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ContractWithCustomerLiabilityRevenueRecognized": {
     "auth_ref": [
      "r321"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.",
        "label": "Contract with Customer, Liability, Revenue Recognized",
        "terseLabel": "Recognition of Deferred Revenue"
       }
      }
     },
     "localname": "ContractWithCustomerLiabilityRevenueRecognized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesContractBalancesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CurrentFederalTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r414",
      "r421"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_CurrentIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Current Federal Tax Expense (Benefit)",
        "terseLabel": "Current federal"
       }
      }
     },
     "localname": "CurrentFederalTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CurrentForeignTaxExpenseBenefit": {
     "auth_ref": [
      "r123",
      "r414"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_CurrentIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Current Foreign Tax Expense (Benefit)",
        "terseLabel": "Current Foreign Tax Expense (Benefit)"
       }
      }
     },
     "localname": "CurrentForeignTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CurrentIncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r414",
      "r421",
      "r423"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_IncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.",
        "label": "Current Income Tax Expense (Benefit)",
        "totalLabel": "Total current"
       }
      }
     },
     "localname": "CurrentIncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_CurrentStateAndLocalTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r414",
      "r421"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_CurrentIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Current State and Local Tax Expense (Benefit)",
        "terseLabel": "Current state"
       }
      }
     },
     "localname": "CurrentStateAndLocalTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtDisclosureAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Debt Disclosure [Abstract]"
       }
      }
     },
     "localname": "DebtDisclosureAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_DebtDisclosureTextBlock": {
     "auth_ref": [
      "r297"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.",
        "label": "Debt Disclosure [Text Block]",
        "verboseLabel": "Long-Term Debt"
       }
      }
     },
     "localname": "DebtDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebt"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DebtInstrumentAxis": {
     "auth_ref": [
      "r17",
      "r18",
      "r19",
      "r570",
      "r573",
      "r593"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of debt instrument, including, but not limited to, draws against credit facilities.",
        "label": "Debt Instrument [Axis]",
        "terseLabel": "Debt Instrument [Axis]"
       }
      }
     },
     "localname": "DebtInstrumentAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DebtInstrumentBasisSpreadOnVariableRate1": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage points added to the reference rate to compute the variable rate on the debt instrument.",
        "label": "Debt Instrument, Basis Spread on Variable Rate",
        "terseLabel": "Basis spread on LIBOR rate"
       }
      }
     },
     "localname": "DebtInstrumentBasisSpreadOnVariableRate1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_DebtInstrumentCarryingAmount": {
     "auth_ref": [
      "r19",
      "r292",
      "r573",
      "r593"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.",
        "label": "Long-term Debt, Gross",
        "verboseLabel": "Long-term debt, outstanding amount"
       }
      }
     },
     "localname": "DebtInstrumentCarryingAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtInstrumentDescriptionOfVariableRateBasis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.",
        "label": "Debt Instrument, Description of Variable Rate Basis",
        "terseLabel": "Reference for interest rate determination"
       }
      }
     },
     "localname": "DebtInstrumentDescriptionOfVariableRateBasis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DebtInstrumentFaceAmount": {
     "auth_ref": [
      "r502",
      "r504"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Face (par) amount of debt instrument at time of issuance.",
        "label": "Debt Instrument, Face Amount",
        "terseLabel": "Debt Instrument, Face Amount"
       }
      }
     },
     "localname": "DebtInstrumentFaceAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtInstrumentFairValue": {
     "auth_ref": [
      "r485"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.",
        "label": "Debt Instrument, Fair Value Disclosure",
        "terseLabel": "Debt Instrument, Fair Value Disclosure"
       }
      }
     },
     "localname": "DebtInstrumentFairValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtInstrumentInterestRateDuringPeriod": {
     "auth_ref": [
      "r46",
      "r502"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The average effective interest rate during the reporting period.",
        "label": "Debt Instrument, Interest Rate During Period",
        "verboseLabel": "Long term debt interest rate"
       }
      }
     },
     "localname": "DebtInstrumentInterestRateDuringPeriod",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_DebtInstrumentInterestRateEffectivePercentage": {
     "auth_ref": [
      "r46",
      "r295",
      "r502"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.",
        "label": "Debt Instrument, Interest Rate, Effective Percentage",
        "terseLabel": "Talisker Canyons Obligation, Interest Rate"
       }
      }
     },
     "localname": "DebtInstrumentInterestRateEffectivePercentage",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_DebtInstrumentInterestRateStatedPercentage": {
     "auth_ref": [
      "r46"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Contractual interest rate for funds borrowed, under the debt agreement.",
        "label": "Debt Instrument, Interest Rate, Stated Percentage",
        "terseLabel": "Debt Instrument, Interest Rate, Stated Percentage"
       }
      }
     },
     "localname": "DebtInstrumentInterestRateStatedPercentage",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_DebtInstrumentMaturityDate": {
     "auth_ref": [
      "r47",
      "r479"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.",
        "label": "Debt Instrument, Maturity Date",
        "verboseLabel": "Long-term debt, maturity date"
       }
      }
     },
     "localname": "DebtInstrumentMaturityDate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_DebtInstrumentMaturityDateRangeEnd1": {
     "auth_ref": [
      "r47"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Latest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format.",
        "label": "Debt Instrument, Maturity Date Range, End",
        "verboseLabel": "Fiscal year maturity, end"
       }
      }
     },
     "localname": "DebtInstrumentMaturityDateRangeEnd1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_DebtInstrumentMaturityDateRangeStart1": {
     "auth_ref": [
      "r47"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Earliest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format.",
        "label": "Debt Instrument, Maturity Date Range, Start",
        "terseLabel": "Fiscal year maturity, start"
       }
      }
     },
     "localname": "DebtInstrumentMaturityDateRangeStart1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_DebtInstrumentNameDomain": {
     "auth_ref": [
      "r49"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The name for the particular debt instrument or borrowing that distinguishes it from other debt instruments or borrowings, including draws against credit facilities.",
        "label": "Debt Instrument, Name [Domain]",
        "terseLabel": "Debt Instrument, Name [Domain]"
       }
      }
     },
     "localname": "DebtInstrumentNameDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_DebtInstrumentPeriodicPayment": {
     "auth_ref": [
      "r49",
      "r589"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of the required periodic payments including both interest and principal payments.",
        "label": "Debt Instrument, Periodic Payment",
        "terseLabel": "Debt Instrument, Periodic Payment"
       }
      }
     },
     "localname": "DebtInstrumentPeriodicPayment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtInstrumentRedemptionDescription": {
     "auth_ref": [
      "r590"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of debt redemption features under terms of the debt agreement.",
        "label": "Debt Instrument, Redemption, Description",
        "terseLabel": "Debt Instrument, Redemption, Description"
       }
      }
     },
     "localname": "DebtInstrumentRedemptionDescription",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DebtInstrumentTable": {
     "auth_ref": [
      "r49",
      "r120",
      "r299",
      "r300",
      "r301",
      "r302",
      "r501",
      "r502",
      "r504",
      "r591"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A table or schedule providing information pertaining to long-term debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer.",
        "label": "Schedule of Long-term Debt Instruments [Table]",
        "terseLabel": "Schedule of Long-term Debt Instruments [Table]"
       }
      }
     },
     "localname": "DebtInstrumentTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet": {
     "auth_ref": [
      "r293",
      "r503"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of unamortized debt discount (premium) and debt issuance costs.",
        "label": "Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net",
        "terseLabel": "Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net"
       }
      }
     },
     "localname": "DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DebtInstrumentUnusedBorrowingCapacityFee": {
     "auth_ref": [
      "r48"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of commitment fees for the unused borrowing capacity under the long-term financing arrangement that is available to the entity.",
        "label": "Debt Instrument, Unused Borrowing Capacity, Fee",
        "terseLabel": "Debt Instrument, Unused Borrowing Capacity, Fee"
       }
      }
     },
     "localname": "DebtInstrumentUnusedBorrowingCapacityFee",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredChargesPolicyTextBlock": {
     "auth_ref": [
      "r39",
      "r113"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for deferral and amortization of significant deferred charges.",
        "label": "Deferred Charges, Policy [Policy Text Block]",
        "terseLabel": "Deferred Financing Costs"
       }
      }
     },
     "localname": "DeferredChargesPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DeferredFederalIncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r415",
      "r421"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Deferred Federal Income Tax Expense (Benefit)",
        "terseLabel": "Deferred federal"
       }
      }
     },
     "localname": "DeferredFederalIncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredForeignIncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r415",
      "r421"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_DeferredIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Deferred Foreign Income Tax Expense (Benefit)",
        "terseLabel": "Deferred Foreign Income Tax Expense (Benefit)"
       }
      }
     },
     "localname": "DeferredForeignIncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredIncomeTaxAssetsNet": {
     "auth_ref": [
      "r391",
      "r392"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredTaxLiabilities",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting.",
        "label": "Deferred Income Tax Assets, Net",
        "terseLabel": "Deferred Tax Assets, Net of Valuation Allowance, Noncurrent"
       }
      }
     },
     "localname": "DeferredIncomeTaxAssetsNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredIncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r103",
      "r118",
      "r415",
      "r421",
      "r422",
      "r423"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 6.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_IncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Deferred Income Tax Expense (Benefit)",
        "terseLabel": "Deferred income taxes, net",
        "totalLabel": "Deferred Income Tax Expense (Benefit)"
       }
      }
     },
     "localname": "DeferredIncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredIncomeTaxLiabilities": {
     "auth_ref": [
      "r20",
      "r21",
      "r405",
      "r572",
      "r592"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax liability attributable to taxable temporary differences.",
        "label": "Deferred Tax Liabilities, Gross",
        "totalLabel": "Deferred Tax Liabilities, Gross"
       }
      }
     },
     "localname": "DeferredIncomeTaxLiabilities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredIncomeTaxLiabilitiesNet": {
     "auth_ref": [
      "r391",
      "r392"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 6.0,
       "parentTag": "us-gaap_LiabilitiesAndStockholdersEquity",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences with jurisdictional netting.",
        "label": "Deferred Income Tax Liabilities, Net",
        "terseLabel": "Deferred income taxes, net (Note 11)",
        "verboseLabel": "Deferred Tax Liabilities, Net, Noncurrent"
       }
      }
     },
     "localname": "DeferredIncomeTaxLiabilitiesNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredRevenueCurrent": {
     "auth_ref": [
      "r33"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 4.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable, classified as current.",
        "label": "Deferred Revenue, Current",
        "terseLabel": "Deferred Revenue, Current"
       }
      }
     },
     "localname": "DeferredRevenueCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesContractBalancesDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r415",
      "r421"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredIncomeTaxExpenseBenefit",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.",
        "label": "Deferred State and Local Income Tax Expense (Benefit)",
        "terseLabel": "Deferred state"
       }
      }
     },
     "localname": "DeferredStateAndLocalIncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsGross": {
     "auth_ref": [
      "r406"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredTaxAssetsNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.",
        "label": "Deferred Tax Assets, Gross",
        "totalLabel": "Total"
       }
      }
     },
     "localname": "DeferredTaxAssetsGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsInvestments": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 8.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from investments (excludes investments in subsidiaries and equity method investments).",
        "label": "Deferred Tax Assets, Investments",
        "terseLabel": "Deferred Tax Assets, Investments"
       }
      }
     },
     "localname": "DeferredTaxAssetsInvestments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsNet": {
     "auth_ref": [
      "r408"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredTaxLiabilities",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.",
        "label": "Deferred Tax Assets, Net of Valuation Allowance",
        "totalLabel": "Deferred income tax assets, net of valuation allowance"
       }
      }
     },
     "localname": "DeferredTaxAssetsNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsOperatingLossCarryforwards": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 5.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.",
        "label": "Deferred Tax Assets, Operating Loss Carryforwards",
        "terseLabel": "Net operating loss carryforwards other tax credits"
       }
      }
     },
     "localname": "DeferredTaxAssetsOperatingLossCarryforwards",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsOther": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 6.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other.",
        "label": "Deferred Tax Assets, Other",
        "terseLabel": "Other, net"
       }
      }
     },
     "localname": "DeferredTaxAssetsOther",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsForeign": {
     "auth_ref": [
      "r411",
      "r412",
      "r413"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign tax credit carryforwards.",
        "label": "Deferred Tax Assets, Tax Credit Carryforwards, Foreign",
        "terseLabel": "Deferred Tax Assets, Tax Credit Carryforwards, Foreign"
       }
      }
     },
     "localname": "DeferredTaxAssetsTaxCreditCarryforwardsForeign",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from compensation and benefits costs.",
        "label": "Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits",
        "verboseLabel": "Deferred compensation and other accrued benefits"
       }
      }
     },
     "localname": "DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.",
        "label": "Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost",
        "terseLabel": "Stock-based compensation"
       }
      }
     },
     "localname": "DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 9.0,
       "parentTag": "us-gaap_DeferredTaxAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from contingent liabilities.",
        "label": "Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies",
        "terseLabel": "Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Contingencies"
       }
      }
     },
     "localname": "DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxAssetsValuationAllowance": {
     "auth_ref": [
      "r407"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredTaxAssetsNet",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.",
        "label": "Deferred Tax Assets, Valuation Allowance",
        "negatedLabel": "Valuation allowance for deferred income taxes"
       }
      }
     },
     "localname": "DeferredTaxAssetsValuationAllowance",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxLiabilities": {
     "auth_ref": [
      "r392",
      "r408"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      },
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting.",
        "label": "Deferred Tax Liabilities, Net",
        "totalLabel": "Deferred Tax Liabilities, Net"
       }
      }
     },
     "localname": "DeferredTaxLiabilities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails",
      "http://www.vailresorts.com/role/IncomeTaxesPresentationOfNetDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_DeferredIncomeTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill.",
        "label": "Deferred Tax Liabilities, Intangible Assets",
        "terseLabel": "Intangible assets"
       }
      }
     },
     "localname": "DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxLiabilitiesLeasingArrangements": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_DeferredIncomeTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax liability attributable to taxable temporary differences from leasing arrangements.",
        "label": "Deferred Tax Liabilities, Leasing Arrangements",
        "terseLabel": "Deferred Tax Liabilities, Leasing Arrangements"
       }
      }
     },
     "localname": "DeferredTaxLiabilitiesLeasingArrangements",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxLiabilitiesOther": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_DeferredIncomeTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax liability attributable to taxable temporary differences classified as other.",
        "label": "Deferred Tax Liabilities, Other",
        "terseLabel": "Deferred Tax Liabilities, Other"
       }
      }
     },
     "localname": "DeferredTaxLiabilitiesOther",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment": {
     "auth_ref": [
      "r412",
      "r413"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_DeferredIncomeTaxLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.",
        "label": "Deferred Tax Liabilities, Property, Plant and Equipment",
        "terseLabel": "Fixed assets"
       }
      }
     },
     "localname": "DeferredTaxLiabilitiesPropertyPlantAndEquipment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfDeferredTaxLiabilitiesAndAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DefinedContributionPlanCostRecognized": {
     "auth_ref": [
      "r341"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cost for defined contribution plan.",
        "label": "Defined Contribution Plan, Cost",
        "terseLabel": "Retirement plan expense"
       }
      }
     },
     "localname": "DefinedContributionPlanCostRecognized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DefinedContributionPlanEmployerMatchingContributionPercent": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of employees' gross pay for which the employer contributes a matching contribution to a defined contribution plan.",
        "label": "Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay",
        "terseLabel": "Company match amount equal to participant's contribution"
       }
      }
     },
     "localname": "DefinedContributionPlanEmployerMatchingContributionPercent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RetirementAndProfitSharingPlansDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_Deposits": {
     "auth_ref": [
      "r576"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 6.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The aggregate of all deposit liabilities held by the entity, including foreign and domestic, interest and noninterest bearing; may include demand deposits, saving deposits, Negotiable Order of Withdrawal (NOW) and time deposits among others.",
        "label": "Deposits",
        "terseLabel": "Deposits"
       }
      }
     },
     "localname": "Deposits",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_Depreciation": {
     "auth_ref": [
      "r103",
      "r264"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.",
        "label": "Depreciation",
        "terseLabel": "Depreciation",
        "verboseLabel": "Depreciation expense"
       }
      }
     },
     "localname": "Depreciation",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DepreciationAndAmortization": {
     "auth_ref": [
      "r103",
      "r264"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 4.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 3.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.",
        "label": "Depreciation, Depletion and Amortization, Nonproduction",
        "negatedLabel": "Depreciation and amortization",
        "terseLabel": "Depreciation and amortization"
       }
      }
     },
     "localname": "DepreciationAndAmortization",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_DerivativeFixedInterestRate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fixed interest rate related to the interest rate derivative.",
        "label": "Derivative, Fixed Interest Rate",
        "terseLabel": "Derivative, Fixed Interest Rate"
       }
      }
     },
     "localname": "DerivativeFixedInterestRate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock": {
     "auth_ref": [
      "r474"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.",
        "label": "Derivative Instruments and Hedging Activities Disclosure [Text Block]",
        "terseLabel": "Derivative Instruments and Hedging Activities Disclosure [Text Block]"
       }
      }
     },
     "localname": "DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DescriptionOfNewAccountingPronouncementsNotYetAdopted": {
     "auth_ref": [
      "r141"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted.",
        "label": "Description of New Accounting Pronouncements Not yet Adopted [Text Block]",
        "terseLabel": "New Accounting Standards"
       }
      }
     },
     "localname": "DescriptionOfNewAccountingPronouncementsNotYetAdopted",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DisaggregationOfRevenueLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Disaggregation of Revenue [Line Items]",
        "terseLabel": "Disaggregation of Revenue [Line Items]"
       }
      }
     },
     "localname": "DisaggregationOfRevenueLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DisaggregationOfRevenueTable": {
     "auth_ref": [
      "r319",
      "r323",
      "r324",
      "r325",
      "r326",
      "r327",
      "r328",
      "r329"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of information about disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.",
        "label": "Disaggregation of Revenue [Table]",
        "terseLabel": "Disaggregation of Revenue [Table]"
       }
      }
     },
     "localname": "DisaggregationOfRevenueTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_DisaggregationOfRevenueTableTextBlock": {
     "auth_ref": [
      "r319"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.",
        "label": "Disaggregation of Revenue [Table Text Block]",
        "terseLabel": "Disaggregation of Revenue [Table Text Block]"
       }
      }
     },
     "localname": "DisaggregationOfRevenueTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock": {
     "auth_ref": [
      "r385"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for share-based payment arrangement.",
        "label": "Share-based Payment Arrangement [Text Block]",
        "verboseLabel": "Stock Compensation Plan"
       }
      }
     },
     "localname": "DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlan"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Share-based Payment Arrangement [Abstract]"
       }
      }
     },
     "localname": "DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_DividendsCommonStock": {
     "auth_ref": [
      "r303",
      "r587"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK).",
        "label": "Dividends, Common Stock",
        "negatedLabel": "Dividends (Note 5)"
       }
      }
     },
     "localname": "DividendsCommonStock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EarningsPerShareAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Earnings Per Share [Abstract]",
        "terseLabel": "Per share amounts (Note 5):"
       }
      }
     },
     "localname": "EarningsPerShareAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_EarningsPerShareBasic": {
     "auth_ref": [
      "r81",
      "r133",
      "r134",
      "r135",
      "r136",
      "r137",
      "r142",
      "r144",
      "r148",
      "r149",
      "r150",
      "r154",
      "r155",
      "r583",
      "r609"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.",
        "label": "Earnings Per Share, Basic",
        "terseLabel": "Basic net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)",
        "verboseLabel": "Basic net income per share attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "EarningsPerShareBasic",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_EarningsPerShareDiluted": {
     "auth_ref": [
      "r81",
      "r133",
      "r134",
      "r135",
      "r136",
      "r137",
      "r144",
      "r148",
      "r149",
      "r150",
      "r154",
      "r155",
      "r583",
      "r609"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.",
        "label": "Earnings Per Share, Diluted",
        "terseLabel": "Diluted net income (loss) per share attributable to Vail Resorts, Inc. (in dollars per share)",
        "verboseLabel": "Diluted net income per share attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "EarningsPerShareDiluted",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_EarningsPerShareReconciliationAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Earnings Per Share Reconciliation [Abstract]"
       }
      }
     },
     "localname": "EarningsPerShareReconciliationAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_EarningsPerShareTextBlock": {
     "auth_ref": [
      "r151",
      "r152",
      "r153",
      "r156"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for earnings per share.",
        "label": "Earnings Per Share [Text Block]",
        "verboseLabel": "Net Income Per Common Share"
       }
      }
     },
     "localname": "EarningsPerShareTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShare"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents": {
     "auth_ref": [
      "r491"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 4.0,
       "parentTag": "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents",
        "terseLabel": "Effect of exchange rate changes on cash, cash equivalents and restricted cash"
       }
      }
     },
     "localname": "EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EffectOfFourthQuarterEventsByTypeAxis": {
     "auth_ref": [
      "r160"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of event or transaction that occurred during the fourth quarter.",
        "label": "Effect of Fourth Quarter Event Type [Axis]",
        "terseLabel": "Effect of Fourth Quarter Event Type [Axis]"
       }
      }
     },
     "localname": "EffectOfFourthQuarterEventsByTypeAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_EffectOfFourthQuarterEventsTypeDomain": {
     "auth_ref": [
      "r160"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The type of event or transaction having a material effect on fourth quarter and fiscal year results.",
        "label": "Effect of Fourth Quarter Events, Type [Domain]",
        "terseLabel": "Effect of Fourth Quarter Events, Type [Domain]"
       }
      }
     },
     "localname": "EffectOfFourthQuarterEventsTypeDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateContinuingOperations": {
     "auth_ref": [
      "r394"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.",
        "label": "Effective Income Tax Rate Reconciliation, Percent",
        "totalLabel": "Effective tax rate"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateContinuingOperations",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of domestic federal statutory tax rate applicable to pretax income (loss).",
        "label": "Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent",
        "terseLabel": "At U.S. federal income tax rate"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.",
        "label": "Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent",
        "terseLabel": "Change in valuation allowance"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 6.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile.",
        "label": "Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent",
        "terseLabel": "Foreign rate differential"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 5.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to noncontrolling interest income (loss) exempt from income taxes.",
        "label": "Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent",
        "terseLabel": "Noncontrolling interests"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.",
        "label": "Effective Income Tax Rate Reconciliation, Other Adjustments, Percent",
        "terseLabel": "Other"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationOtherAdjustments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent": {
     "auth_ref": [
      "r384",
      "r394"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 7.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying domestic federal statutory income tax rate to pretax income (loss) from continuing operation, attributable to expense for award under share-based payment arrangement. Excludes expense determined to be nondeductible upon grant or after for award under share-based payment arrangement.",
        "label": "Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent",
        "terseLabel": "Excess tax benefits related to stock-based compensation"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).",
        "label": "Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent",
        "terseLabel": "State income tax, net of federal benefit"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsOther": {
     "auth_ref": [
      "r394",
      "r425"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails": {
       "order": 9.0,
       "parentTag": "us-gaap_EffectiveIncomeTaxRateContinuingOperations",
       "weight": -1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other tax credits.",
        "label": "Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent",
        "negatedTerseLabel": "Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent"
       }
      }
     },
     "localname": "EffectiveIncomeTaxRateReconciliationTaxCreditsOther",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfEffectiveIncomeTaxRateAndEffectiveRateFromContinuingOperationDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized": {
     "auth_ref": [
      "r373"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cost not yet recognized for nonvested award under share-based payment arrangement.",
        "label": "Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount",
        "terseLabel": "Total unrecognized compensation expense"
       }
      }
     },
     "localname": "EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense": {
     "auth_ref": [
      "r372"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of tax benefit for recognition of expense of award under share-based payment arrangement.",
        "label": "Share-based Payment Arrangement, Expense, Tax Benefit",
        "terseLabel": "Less: benefit for income taxes"
       }
      }
     },
     "localname": "EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions": {
     "auth_ref": [
      "r375"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of tax benefit from exercise of option under share-based payment arrangement.",
        "label": "Share-based Payment Arrangement, Exercise of Option, Tax Benefit",
        "terseLabel": "Share-based Payment Arrangement, Exercise of Option, Tax Benefit"
       }
      }
     },
     "localname": "EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EquityComponentDomain": {
     "auth_ref": [
      "r128",
      "r129",
      "r130",
      "r132",
      "r138",
      "r140",
      "r162",
      "r226",
      "r298",
      "r303",
      "r376",
      "r377",
      "r378",
      "r417",
      "r418",
      "r492",
      "r493",
      "r494",
      "r495",
      "r496",
      "r497",
      "r617",
      "r618",
      "r619"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Components of equity are the parts of the total Equity balance including that which is allocated to common, preferred, treasury stock, retained earnings, etc.",
        "label": "Equity Component [Domain]",
        "terseLabel": "Equity Component [Domain]"
       }
      }
     },
     "localname": "EquityComponentDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_EquityMethodInvestmentDividendsOrDistributions": {
     "auth_ref": [
      "r76",
      "r96",
      "r103",
      "r604"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of distribution received from equity method investee for return on investment, classified as operating activities. Excludes distribution for return of investment, classified as investing activities.",
        "label": "Proceeds from Equity Method Investment, Distribution",
        "terseLabel": "Proceeds from Equity Method Investment, Distribution"
       }
      }
     },
     "localname": "EquityMethodInvestmentDividendsOrDistributions",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EquityMethodInvestmentOwnershipPercentage": {
     "auth_ref": [
      "r221"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.",
        "label": "Equity Method Investment, Ownership Percentage",
        "terseLabel": "Ownership interest"
       }
      }
     },
     "localname": "EquityMethodInvestmentOwnershipPercentage",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_EquityMethodInvestments": {
     "auth_ref": [
      "r35",
      "r186",
      "r220"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.",
        "label": "Equity Method Investments",
        "terseLabel": "Investments in equity method affiliates"
       }
      }
     },
     "localname": "EquityMethodInvestments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_EquityMethodInvestmentsDisclosureTextBlock": {
     "auth_ref": [
      "r225"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.",
        "label": "Equity Method Investments and Joint Ventures Disclosure [Text Block]",
        "terseLabel": "Investments in Affiliates"
       }
      }
     },
     "localname": "EquityMethodInvestmentsDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliates"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_EquityMethodInvestmentsTextBlock": {
     "auth_ref": [
      "r224"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.",
        "label": "Equity Method Investments [Table Text Block]",
        "terseLabel": "Disclosure Of Equity Method Investments In Affiliates"
       }
      }
     },
     "localname": "EquityMethodInvestmentsTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities": {
     "auth_ref": [
      "r382"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 16.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes.",
        "label": "Excess Tax Benefit from Share-based Compensation, Operating Activities",
        "negatedTerseLabel": "Income taxes payable - excess tax benefit from share award plans"
       }
      }
     },
     "localname": "ExcessTaxBenefitFromShareBasedCompensationOperatingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable": {
     "auth_ref": [
      "r475",
      "r476",
      "r477",
      "r482"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of information about asset and liability measured at fair value on recurring and nonrecurring basis.",
        "label": "Fair Value, Recurring and Nonrecurring [Table]",
        "terseLabel": "Fair Value, Assets Measured on Recurring Basis [Table]"
       }
      }
     },
     "localname": "FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock": {
     "auth_ref": [
      "r478"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.",
        "label": "Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]",
        "verboseLabel": "Summary Of Cash Equivalents Measured At Fair Value"
       }
      }
     },
     "localname": "FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_FairValueByFairValueHierarchyLevelAxis": {
     "auth_ref": [
      "r332",
      "r333",
      "r334",
      "r335",
      "r336",
      "r337",
      "r338",
      "r340",
      "r476",
      "r540",
      "r541",
      "r542"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by level within fair value hierarchy and fair value measured at net asset value per share as practical expedient.",
        "label": "Fair Value Hierarchy and NAV [Axis]",
        "terseLabel": "Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Axis]"
       }
      }
     },
     "localname": "FairValueByFairValueHierarchyLevelAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_FairValueDisclosuresAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Fair Value Disclosures [Abstract]"
       }
      }
     },
     "localname": "FairValueDisclosuresAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_FairValueDisclosuresTextBlock": {
     "auth_ref": [
      "r481"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.",
        "label": "Fair Value Disclosures [Text Block]",
        "terseLabel": "Fair Value Measurements"
       }
      }
     },
     "localname": "FairValueDisclosuresTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurements"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_FairValueInputsLevel1Member": {
     "auth_ref": [
      "r332",
      "r333",
      "r338",
      "r340",
      "r476",
      "r540"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Quoted prices in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.",
        "label": "Fair Value, Inputs, Level 1 [Member]",
        "terseLabel": "Level 1 [Member]"
       }
      }
     },
     "localname": "FairValueInputsLevel1Member",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FairValueInputsLevel2Member": {
     "auth_ref": [
      "r332",
      "r333",
      "r338",
      "r340",
      "r476",
      "r541"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Inputs other than quoted prices included within level 1 that are observable for an asset or liability, either directly or indirectly, including, but not limited to, quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in inactive markets.",
        "label": "Fair Value, Inputs, Level 2 [Member]",
        "terseLabel": "Level 2 [Member]"
       }
      }
     },
     "localname": "FairValueInputsLevel2Member",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FairValueInputsLevel3Member": {
     "auth_ref": [
      "r332",
      "r333",
      "r334",
      "r335",
      "r336",
      "r337",
      "r338",
      "r340",
      "r476",
      "r542"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.",
        "label": "Fair Value, Inputs, Level 3 [Member]",
        "terseLabel": "Level 3 [Member]"
       }
      }
     },
     "localname": "FairValueInputsLevel3Member",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock": {
     "auth_ref": [
      "r480",
      "r482"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.",
        "label": "Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]",
        "terseLabel": "Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]"
       }
      }
     },
     "localname": "FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_FairValueMeasurementsFairValueHierarchyDomain": {
     "auth_ref": [
      "r332",
      "r333",
      "r334",
      "r335",
      "r336",
      "r337",
      "r338",
      "r340",
      "r540",
      "r541",
      "r542"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Categories used to prioritize the inputs to valuation techniques to measure fair value.",
        "label": "Fair Value Hierarchy and NAV [Domain]",
        "terseLabel": "Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Domain]"
       }
      }
     },
     "localname": "FairValueMeasurementsFairValueHierarchyDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FairValueOfFinancialInstrumentsPolicy": {
     "auth_ref": [
      "r113",
      "r483",
      "r484"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for determining the fair value of financial instruments.",
        "label": "Fair Value of Financial Instruments, Policy [Policy Text Block]",
        "terseLabel": "Fair Value of Financial Instruments"
       }
      }
     },
     "localname": "FairValueOfFinancialInstrumentsPolicy",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_FinanceLeaseInterestExpense": {
     "auth_ref": [
      "r516",
      "r520",
      "r529"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of interest expense on finance lease liability.",
        "label": "Finance Lease, Interest Expense",
        "terseLabel": "Finance Lease, Interest Expense"
       }
      }
     },
     "localname": "FinanceLeaseInterestExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiability": {
     "auth_ref": [
      "r514",
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Present value of lessee's discounted obligation for lease payments from finance lease.",
        "label": "Finance Lease, Liability",
        "terseLabel": "Finance Lease, Liability"
       }
      }
     },
     "localname": "FinanceLeaseLiability",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDue": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payments for finance lease.",
        "label": "Finance Lease, Liability, Payment, Due",
        "terseLabel": "Finance Lease, Liability, Payment, Due"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finance Lease, Liability, to be Paid, after Year Five",
        "terseLabel": "Finance Lease, Liability, to be Paid, after Year Five"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueAfterYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payments for finance lease, due after fifth fiscal year following latest statement of financial position date. For interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date.",
        "label": "Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months",
        "terseLabel": "Finance Lease, Liability, Payments, Due in Next Rolling Twelve Months"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finance Lease, Liability, to be Paid, Year Five",
        "terseLabel": "Finance Lease, Liability, to be Paid, Year Five"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finance Lease, Liability, to be Paid, Year Four",
        "terseLabel": "Finance Lease, Liability, to be Paid, Year Four"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueYearFour",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finance Lease, Liability, to be Paid, Year Three",
        "terseLabel": "Finance Lease, Liability, to be Paid, Year Three"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueYearThree",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for finance lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finance Lease, Liability, to be Paid, Year Two",
        "terseLabel": "Finance Lease, Liability, to be Paid, Year Two"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityPaymentsDueYearTwo",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for finance lease.",
        "label": "Finance Lease, Liability, Undiscounted Excess Amount",
        "negatedTerseLabel": "Finance Lease, Liability, Undiscounted Excess Amount"
       }
      }
     },
     "localname": "FinanceLeaseLiabilityUndiscountedExcessAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseRightOfUseAsset": {
     "auth_ref": [
      "r513"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after accumulated amortization, of right-of-use asset from finance lease.",
        "label": "Finance Lease, Right-of-Use Asset, after Accumulated Amortization",
        "terseLabel": "Operating Lease, Right-of-Use Asset"
       }
      }
     },
     "localname": "FinanceLeaseRightOfUseAsset",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseRightOfUseAssetAccumulatedAmortization": {
     "auth_ref": [
      "r516",
      "r520"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of accumulated amortization of right-of-use asset from finance lease.",
        "label": "Finance Lease, Right-of-Use Asset, Accumulated Amortization",
        "terseLabel": "Finance Lease, Right-of-Use Asset, Accumulated Amortization"
       }
      }
     },
     "localname": "FinanceLeaseRightOfUseAssetAccumulatedAmortization",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseRightOfUseAssetAmortization": {
     "auth_ref": [
      "r516",
      "r520",
      "r529"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization expense attributable to right-of-use asset from finance lease.",
        "label": "Finance Lease, Right-of-Use Asset, Amortization",
        "terseLabel": "Finance Lease, Right-of-Use Asset, Amortization"
       }
      }
     },
     "localname": "FinanceLeaseRightOfUseAssetAmortization",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FinanceLeaseWeightedAverageDiscountRatePercent": {
     "auth_ref": [
      "r526",
      "r529"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted average discount rate for finance lease calculated at point in time.",
        "label": "Finance Lease, Weighted Average Discount Rate, Percent",
        "terseLabel": "Finance Lease, Weighted Average Discount Rate, Percent"
       }
      }
     },
     "localname": "FinanceLeaseWeightedAverageDiscountRatePercent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_FinanceLeaseWeightedAverageRemainingLeaseTerm1": {
     "auth_ref": [
      "r525",
      "r529"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted average remaining lease term for finance lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.",
        "label": "Finance Lease, Weighted Average Remaining Lease Term",
        "terseLabel": "Finance Lease, Weighted Average Remaining Lease Term"
       }
      }
     },
     "localname": "FinanceLeaseWeightedAverageRemainingLeaseTerm1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization": {
     "auth_ref": [
      "r256"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_FiniteLivedIntangibleAssetsNet",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.",
        "label": "Finite-Lived Intangible Assets, Accumulated Amortization",
        "negatedLabel": "Accumulated amortization"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAccumulatedAmortization",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths": {
     "auth_ref": [
      "r258"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finite-Lived Intangible Asset, Expected Amortization, Year One",
        "terseLabel": "Finite-Lived Intangible Asset, Expected Amortization, Year One"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive": {
     "auth_ref": [
      "r258"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finite-Lived Intangible Asset, Expected Amortization, Year Five",
        "terseLabel": "Finite-Lived Intangible Asset, Expected Amortization, Year Five"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAmortizationExpenseYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour": {
     "auth_ref": [
      "r258"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finite-Lived Intangible Asset, Expected Amortization, Year Four",
        "terseLabel": "Finite-Lived Intangible Asset, Expected Amortization, Year Four"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAmortizationExpenseYearFour",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree": {
     "auth_ref": [
      "r258"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finite-Lived Intangible Asset, Expected Amortization, Year Three",
        "terseLabel": "Finite-Lived Intangible Asset, Expected Amortization, Year Three"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAmortizationExpenseYearThree",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo": {
     "auth_ref": [
      "r258"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Finite-Lived Intangible Asset, Expected Amortization, Year Two",
        "terseLabel": "Finite-Lived Intangible Asset, Expected Amortization, Year Two"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis": {
     "auth_ref": [
      "r250",
      "r252",
      "r256",
      "r260",
      "r552",
      "r553"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by major type or class of finite-lived intangible assets.",
        "label": "Finite-Lived Intangible Assets by Major Class [Axis]",
        "terseLabel": "Finite-Lived Intangible Assets by Major Class [Axis]"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsByMajorClassAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsGross": {
     "auth_ref": [
      "r256",
      "r553"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_FiniteLivedIntangibleAssetsNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.",
        "label": "Finite-Lived Intangible Assets, Gross",
        "totalLabel": "Finite-Lived Intangible Assets, Gross"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain": {
     "auth_ref": [
      "r250",
      "r255"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The major class of finite-lived intangible asset (for example, patents, trademarks, copyrights, etc.) A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.",
        "label": "Finite-Lived Intangible Assets, Major Class Name [Domain]",
        "terseLabel": "Finite-Lived Intangible Assets, Major Class Name [Domain]"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsMajorClassNameDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Assets, excluding financial assets, that lack physical substance, having a limited useful life.",
        "label": "Finite-Lived Intangible Assets [Member]",
        "terseLabel": "Finite-Lived Intangible Assets [Member]"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_FiniteLivedIntangibleAssetsNet": {
     "auth_ref": [
      "r256",
      "r552"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.",
        "label": "Finite-Lived Intangible Assets, Net",
        "totalLabel": "Amortizable intangible assets, net"
       }
      }
     },
     "localname": "FiniteLivedIntangibleAssetsNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FiniteLivedTradeNamesGross": {
     "auth_ref": [
      "r256"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_FiniteLivedIntangibleAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Gross carrying amount before accumulated amortization as of the balance sheet date of the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a reasonably expected period of economic benefit.",
        "label": "Finite-Lived Trade Names, Gross",
        "terseLabel": "Gross amortizable intangible assets"
       }
      }
     },
     "localname": "FiniteLivedTradeNamesGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ForeignCountryMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Designated tax departments of governments entitled to levy and collect income taxes from the entity outside the entity's country of domicile.",
        "label": "Foreign Tax Authority [Member]",
        "terseLabel": "Foreign Tax Authority [Member]"
       }
      }
     },
     "localname": "ForeignCountryMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_ForeignCurrencyTransactionGainLossBeforeTax": {
     "auth_ref": [
      "r487",
      "r488",
      "r489",
      "r490"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 10.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 5.0,
       "parentTag": "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.",
        "label": "Foreign Currency Transaction Gain (Loss), before Tax",
        "negatedTerseLabel": "Foreign currency loss on intercompany loans",
        "terseLabel": "Foreign currency loss on intercompany loans (Note 6)"
       }
      }
     },
     "localname": "ForeignCurrencyTransactionGainLossBeforeTax",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock": {
     "auth_ref": [
      "r113",
      "r498"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.",
        "label": "Foreign Currency Transactions and Translations Policy [Policy Text Block]",
        "terseLabel": "Foreign Currency Transactions and Translations Policy [Policy Text Block]"
       }
      }
     },
     "localname": "ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_FurnitureAndFixturesGross": {
     "auth_ref": [
      "r265"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 5.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases.",
        "label": "Furniture and Fixtures, Gross",
        "terseLabel": "Furniture and fixtures"
       }
      }
     },
     "localname": "FurnitureAndFixturesGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_FurnitureAndFixturesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases.",
        "label": "Furniture and Fixtures [Member]",
        "terseLabel": "Furniture and Fixtures [Member]"
       }
      }
     },
     "localname": "FurnitureAndFixturesMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_GainLossOnDispositionOfAssets": {
     "auth_ref": [
      "r103",
      "r263",
      "r268"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 5.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property.",
        "label": "Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property",
        "negatedTerseLabel": "Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property",
        "verboseLabel": "Gain (loss) on disposal of fixed assets and other, net"
       }
      }
     },
     "localname": "GainLossOnDispositionOfAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GeographicDistributionDomesticMember": {
     "auth_ref": [
      "r228"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Allocation of business activity identified as domestic.",
        "label": "Geographic Distribution, Domestic [Member]",
        "terseLabel": "Geographic Distribution, Domestic [Member]"
       }
      }
     },
     "localname": "GeographicDistributionDomesticMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_GeographicDistributionForeignMember": {
     "auth_ref": [
      "r229",
      "r585",
      "r586"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Allocation of business activity identified as foreign.",
        "label": "Geographic Distribution, Foreign [Member]",
        "terseLabel": "Geographic Distribution, Foreign [Member]"
       }
      }
     },
     "localname": "GeographicDistributionForeignMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_Goodwill": {
     "auth_ref": [
      "r236",
      "r238",
      "r568"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 5.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill",
        "periodEndLabel": "Goodwill, ending balance",
        "periodStartLabel": "Goodwill, beginning balance",
        "totalLabel": "Goodwill, net",
        "verboseLabel": "Goodwill, net (Note 8)"
       }
      }
     },
     "localname": "Goodwill",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillAcquiredDuringPeriod": {
     "auth_ref": [
      "r240"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination.",
        "label": "Goodwill, Acquired During Period",
        "terseLabel": "Goodwill, Acquired During Period",
        "verboseLabel": "Acquisition"
       }
      }
     },
     "localname": "GoodwillAcquiredDuringPeriod",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillAndIntangibleAssetImpairment": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill.",
        "label": "Goodwill and Intangible Asset Impairment",
        "terseLabel": "Impairment to goodwill or intangible assets"
       }
      }
     },
     "localname": "GoodwillAndIntangibleAssetImpairment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock": {
     "auth_ref": [
      "r113",
      "r245",
      "r253"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.",
        "label": "Goodwill and Intangible Assets, Policy [Policy Text Block]",
        "terseLabel": "Goodwill and Intangible Assets"
       }
      }
     },
     "localname": "GoodwillAndIntangibleAssetsPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_GoodwillForeignCurrencyTranslationGainLoss": {
     "auth_ref": [
      "r242"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of foreign currency translation gain (loss) which increases (decreases) an asset representing future economic benefits from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill, Foreign Currency Translation Gain (Loss)",
        "terseLabel": "Goodwill, Translation Adjustments"
       }
      }
     },
     "localname": "GoodwillForeignCurrencyTranslationGainLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillGross": {
     "auth_ref": [
      "r239",
      "r244"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_Goodwill",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill, Gross",
        "terseLabel": "Goodwill"
       }
      }
     },
     "localname": "GoodwillGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillImpairedAccumulatedImpairmentLoss": {
     "auth_ref": [
      "r239",
      "r244"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_Goodwill",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of accumulated impairment loss for an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill, Impaired, Accumulated Impairment Loss",
        "negatedTerseLabel": "Goodwill, Impaired, Accumulated Impairment Loss"
       }
      }
     },
     "localname": "GoodwillImpairedAccumulatedImpairmentLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillImpairmentLoss": {
     "auth_ref": [
      "r103",
      "r237",
      "r241",
      "r246"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill, Impairment Loss",
        "negatedTerseLabel": "Goodwill, Impairment Loss"
       }
      }
     },
     "localname": "GoodwillImpairmentLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_GoodwillMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill [Member]",
        "terseLabel": "Goodwill [Member]"
       }
      }
     },
     "localname": "GoodwillMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_GoodwillPurchaseAccountingAdjustments": {
     "auth_ref": [
      "r243",
      "r431"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) from adjustments after acquisition date under purchase accounting of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.",
        "label": "Goodwill, Purchase Accounting Adjustments",
        "terseLabel": "Measurement period adjustment"
       }
      }
     },
     "localname": "GoodwillPurchaseAccountingAdjustments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock": {
     "auth_ref": [
      "r113",
      "r261",
      "r271"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.",
        "label": "Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]",
        "terseLabel": "Long-lived Assets"
       }
      }
     },
     "localname": "ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic": {
     "auth_ref": [
      "r122",
      "r424"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations.",
        "label": "Income (Loss) from Continuing Operations before Income Taxes, Domestic",
        "terseLabel": "Income (Loss) from Continuing Operations before Income Taxes, Domestic"
       }
      }
     },
     "localname": "IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest": {
     "auth_ref": [
      "r75",
      "r185",
      "r191",
      "r195",
      "r198",
      "r201",
      "r566",
      "r578",
      "r586",
      "r610"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "us-gaap_ProfitLoss",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.",
        "label": "Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest",
        "terseLabel": "Income before provision for income taxes",
        "totalLabel": "Income before (provision) benefit from income taxes"
       }
      }
     },
     "localname": "IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign": {
     "auth_ref": [
      "r122",
      "r424"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile.",
        "label": "Income (Loss) from Continuing Operations before Income Taxes, Foreign",
        "terseLabel": "Income (Loss) from Continuing Operations before Income Taxes, Foreign"
       }
      }
     },
     "localname": "IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments": {
     "auth_ref": [
      "r122",
      "r185",
      "r191",
      "r195",
      "r198",
      "r201"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.",
        "label": "Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest",
        "terseLabel": "Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest"
       }
      }
     },
     "localname": "IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfIncomeBeforeIncomeTaxesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeStatementAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Income Statement [Abstract]"
       }
      }
     },
     "localname": "IncomeStatementAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_IncomeStatementLocationAxis": {
     "auth_ref": [
      "r269"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by location in the income statement.",
        "label": "Income Statement Location [Axis]",
        "terseLabel": "Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]",
        "verboseLabel": "Income Statement Location [Axis]"
       }
      }
     },
     "localname": "IncomeStatementLocationAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_IncomeStatementLocationDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Location in the income statement.",
        "label": "Income Statement Location [Domain]",
        "terseLabel": "Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]",
        "verboseLabel": "Income Statement Location [Domain]"
       }
      }
     },
     "localname": "IncomeStatementLocationDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_IncomeTaxAuthorityAxis": {
     "auth_ref": [
      "r398"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by tax jurisdiction.",
        "label": "Income Tax Authority [Axis]",
        "terseLabel": "Operating Loss Carryforwards by Tax Authority [Axis]"
       }
      }
     },
     "localname": "IncomeTaxAuthorityAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_IncomeTaxAuthorityDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Agency, division or body classification that levies income taxes, examines tax returns for compliance, or grants exemptions from or makes other decisions pertaining to income taxes.",
        "label": "Income Tax Authority [Domain]",
        "terseLabel": "Income Tax Authority [Domain]"
       }
      }
     },
     "localname": "IncomeTaxAuthorityDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_IncomeTaxDisclosureAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Income Tax Disclosure [Abstract]"
       }
      }
     },
     "localname": "IncomeTaxDisclosureAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_IncomeTaxDisclosureTextBlock": {
     "auth_ref": [
      "r395",
      "r403",
      "r410",
      "r419",
      "r426",
      "r428",
      "r429",
      "r430"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.",
        "label": "Income Tax Disclosure [Text Block]",
        "terseLabel": "Income Taxes"
       }
      }
     },
     "localname": "IncomeTaxDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxes"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense": {
     "auth_ref": [
      "r396"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations.",
        "label": "Income Tax Examination, Penalties and Interest Expense",
        "negatedLabel": "Income tax examination, penalties and interest expense",
        "terseLabel": "Income Tax Examination, Penalties and Interest Expense"
       }
      }
     },
     "localname": "IncomeTaxExaminationPenaltiesAndInterestExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeTaxExpenseBenefit": {
     "auth_ref": [
      "r118",
      "r139",
      "r140",
      "r183",
      "r393",
      "r420",
      "r427",
      "r611"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "us-gaap_ProfitLoss",
       "weight": -1.0
      },
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.",
        "label": "Income Tax Expense (Benefit)",
        "negatedLabel": "(Provision) benefit from income taxes (Note 11)",
        "totalLabel": "Provision for income taxes"
       }
      }
     },
     "localname": "IncomeTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/IncomeTaxesComponentsOfProvisionBenefitForIncomeTaxesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncomeTaxPolicyTextBlock": {
     "auth_ref": [
      "r72",
      "r113",
      "r389",
      "r390",
      "r403",
      "r404",
      "r409",
      "r416",
      "r626"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.",
        "label": "Income Tax, Policy [Policy Text Block]",
        "terseLabel": "Income Taxes"
       }
      }
     },
     "localname": "IncomeTaxPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_IncomeTaxesPaid": {
     "auth_ref": [
      "r99",
      "r107"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.",
        "label": "Income Taxes Paid",
        "verboseLabel": "Taxes paid, net"
       }
      }
     },
     "localname": "IncomeTaxesPaid",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 14.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.",
        "label": "Increase (Decrease) in Accounts Payable and Accrued Liabilities",
        "terseLabel": "Accounts payable and accrued liabilities"
       }
      }
     },
     "localname": "IncreaseDecreaseInAccountsPayableAndAccruedLiabilities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInAccountsReceivable": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 12.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.",
        "label": "Increase (Decrease) in Accounts Receivable",
        "negatedLabel": "Accounts receivable, net"
       }
      }
     },
     "localname": "IncreaseDecreaseInAccountsReceivable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 17.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.",
        "label": "Increase (Decrease) in Income Taxes Payable",
        "terseLabel": "Income taxes payable - other"
       }
      }
     },
     "localname": "IncreaseDecreaseInAccruedIncomeTaxesPayable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInDeferredRevenue": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 15.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) in deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable.",
        "label": "Increase (Decrease) in Deferred Revenue",
        "terseLabel": "Increase (Decrease) in Deferred Revenue"
       }
      }
     },
     "localname": "IncreaseDecreaseInDeferredRevenue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInInventories": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 13.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.",
        "label": "Increase (Decrease) in Inventories",
        "negatedLabel": "Inventories, net"
       }
      }
     },
     "localname": "IncreaseDecreaseInInventories",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IncreaseDecreaseInOperatingCapitalAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Increase (Decrease) in Operating Capital [Abstract]",
        "terseLabel": "Changes in assets and liabilities, net of effects of acquisitions:"
       }
      }
     },
     "localname": "IncreaseDecreaseInOperatingCapitalAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 18.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) in operating assets after deduction of operating liabilities classified as other.",
        "label": "Increase (Decrease) in Other Operating Assets and Liabilities, Net",
        "negatedLabel": "Other assets and liabilities, net"
       }
      }
     },
     "localname": "IncreaseDecreaseInOtherOperatingCapitalNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis": {
     "auth_ref": [
      "r251",
      "r259"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type or class of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit.",
        "label": "Indefinite-lived Intangible Assets [Axis]",
        "terseLabel": "Indefinite-lived Intangible Assets [Axis]"
       }
      }
     },
     "localname": "IndefiniteLivedIntangibleAssetsByMajorClassAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill": {
     "auth_ref": [
      "r259"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 1.0,
       "parentTag": "mtn_IndefiniteLivedIntangibleAssetsExcludingGoodwillNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit.",
        "label": "Indefinite-lived Intangible Assets (Excluding Goodwill)",
        "terseLabel": "Gross indefinite-lived intangible assets"
       }
      }
     },
     "localname": "IndefiniteLivedIntangibleAssetsExcludingGoodwill",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain": {
     "auth_ref": [
      "r251",
      "r259"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The major class of indefinite-lived intangible asset (for example, trade names, etc. but not all-inclusive), excluding goodwill. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of the company.",
        "label": "Indefinite-lived Intangible Assets, Major Class Name [Domain]",
        "terseLabel": "Indefinite-lived Intangible Assets, Major Class Name [Domain]"
       }
      }
     },
     "localname": "IndefiniteLivedIntangibleAssetsMajorClassNameDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_IndefiniteLivedTradeNames": {
     "auth_ref": [
      "r259"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trade name to gain or protect exclusive use thereof for a projected indefinite period of benefit.",
        "label": "Indefinite-Lived Trade Names",
        "terseLabel": "Indefinite-lived Intangible Assets Acquired"
       }
      }
     },
     "localname": "IndefiniteLivedTradeNames",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IndefiniteLivedTrademarks": {
     "auth_ref": [
      "r259"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Carrying amount (original costs adjusted for previously recognized amortization and impairment) as of the balance sheet date for the rights acquired through registration of a trademark to gain or protect exclusive use of a business name, symbol or other device or style for a projected indefinite period of benefit.",
        "label": "Indefinite-Lived Trademarks",
        "terseLabel": "Indefinite-Lived Trademarks"
       }
      }
     },
     "localname": "IndefiniteLivedTrademarks",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IntangibleAssetsNetExcludingGoodwill": {
     "auth_ref": [
      "r248",
      "r254"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 6.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.",
        "label": "Intangible Assets, Net (Excluding Goodwill)",
        "terseLabel": "Intangible assets, net (Note 8)",
        "totalLabel": "Net Intangible Assets Excluding Goodwill"
       }
      }
     },
     "localname": "IntangibleAssetsNetExcludingGoodwill",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_IntercompanyForeignCurrencyBalanceAmount": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of an intercompany foreign currency transactions that is of a long-term-investment nature, that is, settlement is not planned of anticipated in the foreseeable future.",
        "label": "Intercompany Foreign Currency Balance, Amount",
        "terseLabel": "Intercompany Foreign Currency Balance, Amount"
       }
      }
     },
     "localname": "IntercompanyForeignCurrencyBalanceAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InterestExpense": {
     "auth_ref": [
      "r73",
      "r179",
      "r500",
      "r503",
      "r584"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 4.0,
       "parentTag": "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of the cost of borrowed funds accounted for as interest expense.",
        "label": "Interest Expense",
        "negatedLabel": "Interest expense, net",
        "terseLabel": "Interest Expense"
       }
      }
     },
     "localname": "InterestExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InterestExpenseDebt": {
     "auth_ref": [
      "r85",
      "r296"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of the cost of borrowed funds accounted for as interest expense for debt.",
        "label": "Interest Expense, Debt",
        "terseLabel": "Interest Expense, Debt"
       }
      }
     },
     "localname": "InterestExpenseDebt",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InterestExpenseMember": {
     "auth_ref": [
      "r472"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Primary financial statement caption encompassing interest expense.",
        "label": "Interest Expense [Member]",
        "terseLabel": "Interest Expense [Member]"
       }
      }
     },
     "localname": "InterestExpenseMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_InterestPaidNet": {
     "auth_ref": [
      "r94",
      "r98",
      "r107"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.",
        "label": "Interest Paid, Excluding Capitalized Interest, Operating Activities",
        "terseLabel": "Cash paid for interest"
       }
      }
     },
     "localname": "InterestPaidNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue": {
     "auth_ref": [
      "r470"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair value as of the balance sheet date of all interest rate derivative liabilities designated as cash flow hedging instruments.",
        "label": "Interest Rate Cash Flow Hedge Liability at Fair Value",
        "terseLabel": "Interest Rate Cash Flow Hedge Liability at Fair Value"
       }
      }
     },
     "localname": "InterestRateCashFlowHedgeLiabilityAtFairValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InventoryNet": {
     "auth_ref": [
      "r4",
      "r55"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 4.0,
       "parentTag": "us-gaap_AssetsCurrent",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.",
        "label": "Inventory, Net",
        "terseLabel": "Inventories, net of reserves of $4,447 and $2,031, respectively"
       }
      }
     },
     "localname": "InventoryNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InventoryPolicyTextBlock": {
     "auth_ref": [
      "r13",
      "r56",
      "r113",
      "r158",
      "r230",
      "r231",
      "r233"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.",
        "label": "Inventory, Policy [Policy Text Block]",
        "terseLabel": "Inventories"
       }
      }
     },
     "localname": "InventoryPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_InventoryRealEstate": {
     "auth_ref": [],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 3.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition.",
        "label": "Inventory, Real Estate",
        "terseLabel": "Real estate held for sale and investment"
       }
      }
     },
     "localname": "InventoryRealEstate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InventoryValuationReserves": {
     "auth_ref": [
      "r55",
      "r126",
      "r232"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of valuation reserve for inventory.",
        "label": "Inventory Valuation Reserves",
        "terseLabel": "Inventories, reserves"
       }
      }
     },
     "localname": "InventoryValuationReserves",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_InvestmentIncomeInterest": {
     "auth_ref": [
      "r84",
      "r178"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 3.0,
       "parentTag": "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.",
        "label": "Investment Income, Interest",
        "negatedTerseLabel": "Investment Income, Interest",
        "verboseLabel": "Investment income and other, net"
       }
      }
     },
     "localname": "InvestmentIncomeInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LandImprovementsMember": {
     "auth_ref": [
      "r8"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Additions or improvements to real estate held.",
        "label": "Land Improvements [Member]",
        "terseLabel": "Land Improvements [Member]"
       }
      }
     },
     "localname": "LandImprovementsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_LeaseAndRentalExpense": {
     "auth_ref": [],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.",
        "label": "Operating Leases, Rent Expense",
        "terseLabel": "Lease expense, excluding executory costs"
       }
      }
     },
     "localname": "LeaseAndRentalExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LeaseCostTableTextBlock": {
     "auth_ref": [
      "r527"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.",
        "label": "Lease, Cost [Table Text Block]",
        "terseLabel": "Lease, Cost [Table Text Block]"
       }
      }
     },
     "localname": "LeaseCostTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_LeaseExpirationDate1": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date which lease or group of leases is set to expire, in CCYY-MM-DD format.",
        "label": "Lease Expiration Date",
        "terseLabel": "Lease Expiration Date"
       }
      }
     },
     "localname": "LeaseExpirationDate1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_LeasesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Leases [Abstract]"
       }
      }
     },
     "localname": "LeasesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_LeasesOfLesseeDisclosureTextBlock": {
     "auth_ref": [
      "r512"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.",
        "label": "Leases of Lessee Disclosure [Text Block]",
        "terseLabel": "Leases of Lessee Disclosure [Text Block]"
       }
      }
     },
     "localname": "LeasesOfLesseeDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesNotes"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_LesseeLeasesPolicyTextBlock": {
     "auth_ref": [
      "r519"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for leasing arrangement entered into by lessee.",
        "label": "Lessee, Leases [Policy Text Block]",
        "terseLabel": "Lessee, Leases [Policy Text Block]"
       }
      }
     },
     "localname": "LesseeLeasesPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for operating lease.",
        "label": "Lessee, Operating Lease, Liability, to be Paid",
        "terseLabel": "Lessee, Operating Lease, Liability, to be Paid"
       }
      }
     },
     "localname": "LesseeOperatingLeaseLiabilityPaymentsDue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payment for operating lease due after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Lessee, Operating Lease, Liability, to be Paid, after Year Five",
        "terseLabel": "Lessee, Operating Lease, Liability, to be Paid, after Year Five"
       }
      }
     },
     "localname": "LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount": {
     "auth_ref": [
      "r528"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease.",
        "label": "Lessee, Operating Lease, Liability, Undiscounted Excess Amount",
        "negatedTerseLabel": "Lessee, Operating Lease, Liability, Undiscounted Excess Amount"
       }
      }
     },
     "localname": "LesseeOperatingLeaseLiabilityUndiscountedExcessAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LettersOfCreditOutstandingAmount": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The total amount of the contingent obligation under letters of credit outstanding as of the reporting date.",
        "label": "Letters of Credit Outstanding, Amount",
        "terseLabel": "Amount outstanding in letters of credit"
       }
      }
     },
     "localname": "LettersOfCreditOutstandingAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_Liabilities": {
     "auth_ref": [
      "r43",
      "r117",
      "r193",
      "r223",
      "r456",
      "r463",
      "r464",
      "r486"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.",
        "label": "Liabilities",
        "totalLabel": "Total liabilities"
       }
      }
     },
     "localname": "Liabilities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LiabilitiesAndStockholdersEquity": {
     "auth_ref": [
      "r31",
      "r117",
      "r223",
      "r486",
      "r575",
      "r601"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.",
        "label": "Liabilities and Equity",
        "totalLabel": "Total liabilities and stockholders\u2019 equity"
       }
      }
     },
     "localname": "LiabilitiesAndStockholdersEquity",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LiabilitiesAndStockholdersEquityAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Liabilities and Equity [Abstract]",
        "terseLabel": "Liabilities and Stockholders\u2019 Equity"
       }
      }
     },
     "localname": "LiabilitiesAndStockholdersEquityAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_LiabilitiesCurrent": {
     "auth_ref": [
      "r45",
      "r117",
      "r223",
      "r456",
      "r463",
      "r464",
      "r486"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_LiabilitiesAndStockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.",
        "label": "Liabilities, Current",
        "totalLabel": "Total current liabilities"
       }
      }
     },
     "localname": "LiabilitiesCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LiabilityReserveEstimatePolicy": {
     "auth_ref": [
      "r113",
      "r623"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for estimating its liability as of the balance sheet date for the ultimate cost of settling reported and unreported claims incurred and claims adjustment expenses (including effects of inflation and other societal and economic factors).",
        "label": "Liability Reserve Estimate, Policy [Policy Text Block]",
        "terseLabel": "Reserve Estimates"
       }
      }
     },
     "localname": "LiabilityReserveEstimatePolicy",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_LineOfCredit": {
     "auth_ref": [
      "r19",
      "r573",
      "r593"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.",
        "label": "Long-term Line of Credit",
        "terseLabel": "Long-term Line of Credit"
       }
      }
     },
     "localname": "LineOfCredit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LineOfCreditFacilityIncreaseDecreaseForPeriodNet": {
     "auth_ref": [
      "r121"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) of the credit facility.",
        "label": "Line of Credit Facility, Increase (Decrease), Net",
        "terseLabel": "Line of Credit Facility, Increase (Decrease), Net"
       }
      }
     },
     "localname": "LineOfCreditFacilityIncreaseDecreaseForPeriodNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LineOfCreditFacilityInitiationDate1": {
     "auth_ref": [
      "r41"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date the credit facility first became available, in CCYY-MM-DD format.",
        "label": "Line of Credit Facility, Initiation Date",
        "terseLabel": "Line of Credit Facility, Initiation Date"
       }
      }
     },
     "localname": "LineOfCreditFacilityInitiationDate1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "dateItemType"
    },
    "us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity": {
     "auth_ref": [
      "r41"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.",
        "label": "Line of Credit Facility, Maximum Borrowing Capacity",
        "terseLabel": "Line of Credit Facility, Maximum Borrowing Capacity"
       }
      }
     },
     "localname": "LineOfCreditFacilityMaximumBorrowingCapacity",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.",
        "label": "Line of Credit Facility, Unused Capacity, Commitment Fee Percentage",
        "terseLabel": "Line of Credit Facility, Unused Capacity, Commitment Fee Percentage"
       }
      }
     },
     "localname": "LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_LineOfCreditMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time, and under which borrowings outstanding may be either short-term or long-term, depending upon the particulars.",
        "label": "Line of Credit [Member]",
        "terseLabel": "Credit Facility Revolver [Member]"
       }
      }
     },
     "localname": "LineOfCreditMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_LongTermDebt": {
     "auth_ref": [
      "r19",
      "r294",
      "r573",
      "r596"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.",
        "label": "Long-term Debt",
        "terseLabel": "Long-term Debt",
        "totalLabel": "Long-term Debt"
       }
      }
     },
     "localname": "LongTermDebt",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtAndCapitalLeaseObligations": {
     "auth_ref": [
      "r19"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_LiabilitiesAndStockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt and lease obligation, classified as noncurrent.",
        "label": "Long-term Debt and Lease Obligation",
        "terseLabel": "Long-term debt, net (Note 6)"
       }
      }
     },
     "localname": "LongTermDebtAndCapitalLeaseObligations",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtAndCapitalLeaseObligationsCurrent": {
     "auth_ref": [
      "r44"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 3.0,
       "parentTag": "us-gaap_LiabilitiesCurrent",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt and lease obligation, classified as current.",
        "label": "Long-term Debt and Lease Obligation, Current",
        "terseLabel": "Long-term debt due within one year (Note 6)"
       }
      }
     },
     "localname": "LongTermDebtAndCapitalLeaseObligationsCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtCurrent": {
     "auth_ref": [
      "r42"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.",
        "label": "Long-term Debt, Current Maturities",
        "verboseLabel": "Less: Current maturities"
       }
      }
     },
     "localname": "LongTermDebtCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtDescription": {
     "auth_ref": [
      "r49",
      "r299"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of long-term debt arrangements, which are debt arrangements that originally require full repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer, and disclosures pertaining to the underlying arrangements, including repayment terms, conversion features, interest rates, restrictions on assets and activities, debt covenants, and other matters important to users of the financial statements. Types of long-term debt arrangements include borrowing under notes payable, bonds payable, debentures, term loans, and other contractual obligations for payment.",
        "label": "Long-term Debt, Description",
        "terseLabel": "Long-term Debt, Description"
       }
      }
     },
     "localname": "LongTermDebtDescription",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 3.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing after fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, after Year Five",
        "terseLabel": "Long-Term Debt, Maturity, after Year Five",
        "verboseLabel": "Thereafter"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, Year One",
        "terseLabel": "2021 (1)",
        "verboseLabel": "Long-Term Debt, Maturity, Year One"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 4.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fifth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, Year Five",
        "terseLabel": "2025",
        "verboseLabel": "Long-Term Debt, Maturity, Year Five"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 5.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, Year Four",
        "terseLabel": "2024",
        "verboseLabel": "Long-Term Debt, Maturity, Year Four"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 6.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, Year Three",
        "terseLabel": "2023",
        "verboseLabel": "Long-Term Debt, Maturity, Year Three"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo": {
     "auth_ref": [
      "r125",
      "r290"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_LongTermDebt",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).",
        "label": "Long-Term Debt, Maturity, Year Two",
        "terseLabel": "2022",
        "verboseLabel": "Long-Term Debt, Maturity, Year Two"
       }
      }
     },
     "localname": "LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtNoncurrent": {
     "auth_ref": [
      "r49"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.",
        "label": "Long-term Debt, Excluding Current Maturities",
        "verboseLabel": "Long-term debt, net"
       }
      }
     },
     "localname": "LongTermDebtNoncurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_LongTermDebtOtherDisclosuresAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Long-term Debt, Other Disclosures [Abstract]"
       }
      }
     },
     "localname": "LongTermDebtOtherDisclosuresAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_LongTermDebtPercentageBearingFixedInterestRate": {
     "auth_ref": [
      "r46"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate.",
        "label": "Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate",
        "terseLabel": "Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate"
       }
      }
     },
     "localname": "LongTermDebtPercentageBearingFixedInterestRate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_LongTermInvestmentsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Long-term Investments [Abstract]"
       }
      }
     },
     "localname": "LongTermInvestmentsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_LongtermDebtTypeAxis": {
     "auth_ref": [
      "r49"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of long-term debt.",
        "label": "Long-term Debt, Type [Axis]",
        "terseLabel": "Long-term Debt, Type [Axis]"
       }
      }
     },
     "localname": "LongtermDebtTypeAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_LongtermDebtTypeDomain": {
     "auth_ref": [
      "r49",
      "r291"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Type of long-term debt arrangement, such as notes, line of credit, commercial paper, asset-based financing, project financing, letter of credit financing. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer.",
        "label": "Long-term Debt, Type [Domain]",
        "terseLabel": "Long-term Debt, Type [Domain]"
       }
      }
     },
     "localname": "LongtermDebtTypeDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_LossContingenciesByNatureOfContingencyAxis": {
     "auth_ref": [
      "r279",
      "r280",
      "r281",
      "r282",
      "r283",
      "r284",
      "r285",
      "r287",
      "r288"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.",
        "label": "Loss Contingency Nature [Axis]",
        "terseLabel": "Loss Contingencies by Nature of Contingency [Axis]"
       }
      }
     },
     "localname": "LossContingenciesByNatureOfContingencyAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_LossContingenciesTable": {
     "auth_ref": [
      "r279",
      "r280",
      "r281",
      "r282",
      "r283",
      "r284",
      "r285",
      "r287",
      "r288"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Discloses the specific components (such as the nature, name, and date) of the loss contingency and gives an estimate of the possible loss or range of loss, or states that a reasonable estimate cannot be made. Excludes environmental contingencies, warranties and unconditional purchase obligations.",
        "label": "Loss Contingencies [Table]",
        "terseLabel": "Loss Contingencies [Table]"
       }
      }
     },
     "localname": "LossContingenciesTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_LossContingencyNatureDomain": {
     "auth_ref": [
      "r279",
      "r280",
      "r281",
      "r282",
      "r283",
      "r284",
      "r285",
      "r287",
      "r288"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "An existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur. Resolution of the uncertainty may confirm the incurrence of a loss or impairment of an asset or the incurrence of a liability.",
        "label": "Loss Contingency, Nature [Domain]",
        "terseLabel": "Loss Contingency, Nature [Domain]"
       }
      }
     },
     "localname": "LossContingencyNatureDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_MachineryAndEquipmentGross": {
     "auth_ref": [
      "r9",
      "r265"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 6.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation of tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment.",
        "label": "Machinery and Equipment, Gross",
        "terseLabel": "Machinery and equipment"
       }
      }
     },
     "localname": "MachineryAndEquipmentGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_MachineryAndEquipmentMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment.",
        "label": "Machinery and Equipment [Member]",
        "terseLabel": "Machinery and Equipment [Member]"
       }
      }
     },
     "localname": "MachineryAndEquipmentMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_MinorityInterest": {
     "auth_ref": [
      "r54",
      "r117",
      "r223",
      "r486",
      "r574",
      "r600"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).",
        "label": "Stockholders' Equity Attributable to Noncontrolling Interest",
        "terseLabel": "Noncontrolling interests"
       }
      }
     },
     "localname": "MinorityInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders": {
     "auth_ref": [
      "r303"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders.",
        "label": "Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders",
        "negatedTerseLabel": "Distributions to noncontrolling interests, net"
       }
      }
     },
     "localname": "MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_MoneyMarketFundsMember": {
     "auth_ref": [
      "r332"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fund that invests in short-term money-market instruments, for example, but not limited to, commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and other highly liquid securities.",
        "label": "Money Market Funds [Member]",
        "terseLabel": "Money Market Funds [Member]"
       }
      }
     },
     "localname": "MoneyMarketFundsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_NetCashProvidedByUsedInFinancingActivities": {
     "auth_ref": [
      "r97"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 3.0,
       "parentTag": "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.",
        "label": "Net Cash Provided by (Used in) Financing Activities",
        "totalLabel": "Net cash provided by (used in) financing activities"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInFinancingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Net Cash Provided by (Used in) Financing Activities [Abstract]",
        "terseLabel": "Cash flows from financing activities:"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInFinancingActivitiesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_NetCashProvidedByUsedInInvestingActivities": {
     "auth_ref": [
      "r97"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 2.0,
       "parentTag": "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.",
        "label": "Net Cash Provided by (Used in) Investing Activities",
        "totalLabel": "Net cash used in investing activities"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInInvestingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Net Cash Provided by (Used in) Investing Activities [Abstract]",
        "terseLabel": "Cash flows from investing activities:"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInInvestingActivitiesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_NetCashProvidedByUsedInOperatingActivities": {
     "auth_ref": [
      "r97",
      "r101",
      "r104"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 1.0,
       "parentTag": "us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.",
        "label": "Net Cash Provided by (Used in) Operating Activities",
        "totalLabel": "Net cash provided by operating activities"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInOperatingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Net Cash Provided by (Used in) Operating Activities [Abstract]",
        "terseLabel": "Cash flows from operating activities:"
       }
      }
     },
     "localname": "NetCashProvidedByUsedInOperatingActivitiesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_NetIncomeLoss": {
     "auth_ref": [
      "r1",
      "r67",
      "r69",
      "r77",
      "r104",
      "r117",
      "r131",
      "r133",
      "r134",
      "r135",
      "r136",
      "r139",
      "r140",
      "r147",
      "r185",
      "r191",
      "r195",
      "r198",
      "r201",
      "r223",
      "r486",
      "r579",
      "r605"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.",
        "label": "Net Income (Loss) Attributable to Parent",
        "terseLabel": "Net income",
        "totalLabel": "Net income attributable to Vail Resorts, Inc.",
        "verboseLabel": "Net income (loss) attributable to Vail Resorts, Inc."
       }
      }
     },
     "localname": "NetIncomeLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_NetIncomeLossAttributableToNoncontrollingInterest": {
     "auth_ref": [
      "r67",
      "r69",
      "r139",
      "r140",
      "r459",
      "r466"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 2.0,
       "parentTag": "us-gaap_NetIncomeLoss",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of Net Income (Loss) attributable to noncontrolling interest.",
        "label": "Net Income (Loss) Attributable to Noncontrolling Interest",
        "negatedLabel": "Net income attributable to noncontrolling interests",
        "terseLabel": "Net Income (Loss) Attributable to Noncontrolling Interest"
       }
      }
     },
     "localname": "NetIncomeLossAttributableToNoncontrollingInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.",
        "label": "New Accounting Pronouncements, Policy [Policy Text Block]",
        "terseLabel": "New Accounting Pronouncements, Policy [Policy Text Block]"
       }
      }
     },
     "localname": "NewAccountingPronouncementsPolicyPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_NoncontrollingInterestMember": {
     "auth_ref": [
      "r128",
      "r129",
      "r130",
      "r303",
      "r450"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "This element represents that portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to the parent. A noncontrolling interest is sometimes called a minority interest.",
        "label": "Noncontrolling Interest [Member]",
        "terseLabel": "Noncontrolling Interest [Member]"
       }
      }
     },
     "localname": "NoncontrollingInterestMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_NotesAndLoansPayable": {
     "auth_ref": [
      "r19",
      "r573",
      "r596"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Including the current and noncurrent portions, carrying value as of the balance sheet date of all notes and loans payable (with maturities initially due after one year or beyond the operating cycle if longer).",
        "label": "Notes and Loans Payable",
        "terseLabel": "Notes and Loans Payable"
       }
      }
     },
     "localname": "NotesAndLoansPayable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingExpensesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Operating Expenses [Abstract]",
        "terseLabel": "Total segment operating expense"
       }
      }
     },
     "localname": "OperatingExpensesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_OperatingIncomeLoss": {
     "auth_ref": [
      "r185",
      "r191",
      "r195",
      "r198",
      "r201"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The net result for the period of deducting operating expenses from operating revenues.",
        "label": "Operating Income (Loss)",
        "terseLabel": "Income (loss) from operations",
        "totalLabel": "Income from operations"
       }
      }
     },
     "localname": "OperatingIncomeLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseExpense": {
     "auth_ref": [
      "r517"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of operating lease expense. Excludes sublease income.",
        "label": "Operating Lease, Expense",
        "terseLabel": "Operating Lease, Expense"
       }
      }
     },
     "localname": "OperatingLeaseExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseLiability": {
     "auth_ref": [
      "r514"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Present value of lessee's discounted obligation for lease payments from operating lease.",
        "label": "Operating Lease, Liability",
        "terseLabel": "Operating Lease, Liability"
       }
      }
     },
     "localname": "OperatingLeaseLiability",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseLiabilityCurrent": {
     "auth_ref": [
      "r514"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 7.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.",
        "label": "Operating Lease, Liability, Current",
        "terseLabel": "Operating Lease, Liability, Current"
       }
      }
     },
     "localname": "OperatingLeaseLiabilityCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList": {
     "auth_ref": [
      "r515"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicates line item in statement of financial position that includes current operating lease liability.",
        "label": "Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]",
        "terseLabel": "Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]"
       }
      }
     },
     "localname": "OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "extensibleListItemType"
    },
    "us-gaap_OperatingLeaseLiabilityNoncurrent": {
     "auth_ref": [
      "r514"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 5.0,
       "parentTag": "us-gaap_LiabilitiesAndStockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.",
        "label": "Operating Lease, Liability, Noncurrent",
        "terseLabel": "Operating lease liabilities (Note 4)"
       }
      }
     },
     "localname": "OperatingLeaseLiabilityNoncurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasePayments": {
     "auth_ref": [
      "r518",
      "r523"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use.",
        "label": "Operating Lease, Payments",
        "terseLabel": "Operating Lease, Payments"
       }
      }
     },
     "localname": "OperatingLeasePayments",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseRightOfUseAsset": {
     "auth_ref": [
      "r513"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 7.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of lessee's right to use underlying asset under operating lease.",
        "label": "Operating Lease, Right-of-Use Asset",
        "terseLabel": "Operating right-of-use assets (Note 4)"
       }
      }
     },
     "localname": "OperatingLeaseRightOfUseAsset",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeaseWeightedAverageDiscountRatePercent": {
     "auth_ref": [
      "r526",
      "r529"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted average discount rate for operating lease calculated at point in time.",
        "label": "Operating Lease, Weighted Average Discount Rate, Percent",
        "terseLabel": "Operating Lease, Weighted Average Discount Rate, Percent"
       }
      }
     },
     "localname": "OperatingLeaseWeightedAverageDiscountRatePercent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1": {
     "auth_ref": [
      "r525",
      "r529"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.",
        "label": "Operating Lease, Weighted Average Remaining Lease Term",
        "terseLabel": "Operating Lease, Weighted Average Remaining Lease Term"
       }
      }
     },
     "localname": "OperatingLeaseWeightedAverageRemainingLeaseTerm1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDue": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.",
        "label": "Operating Leases, Future Minimum Payments Due",
        "terseLabel": "Operating Leases, Future Minimum Payments Due"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments Due, Next Twelve Months",
        "terseLabel": "Operating Leases, Future Minimum Payments Due, Next Twelve Months"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments, Due in Five Years",
        "terseLabel": "Operating Leases, Future Minimum Payments, Due in Five Years"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueInFiveYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments, Due in Four Years",
        "terseLabel": "Operating Leases, Future Minimum Payments, Due in Four Years"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueInFourYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments, Due in Three Years",
        "terseLabel": "Operating Leases, Future Minimum Payments, Due in Three Years"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueInThreeYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments, Due in Two Years",
        "terseLabel": "Operating Leases, Future Minimum Payments, Due in Two Years"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueInTwoYears",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter": {
     "auth_ref": [
      "r505",
      "r506"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.",
        "label": "Operating Leases, Future Minimum Payments, Due Thereafter",
        "terseLabel": "Operating Leases, Future Minimum Payments, Due Thereafter"
       }
      }
     },
     "localname": "OperatingLeasesFutureMinimumPaymentsDueThereafter",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLossCarryforwards": {
     "auth_ref": [
      "r411"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.",
        "label": "Operating Loss Carryforwards",
        "terseLabel": "Operating Loss Carryforwards"
       }
      }
     },
     "localname": "OperatingLossCarryforwards",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OperatingLossCarryforwardsValuationAllowance": {
     "auth_ref": [
      "r407"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized.",
        "label": "Operating Loss Carryforwards, Valuation Allowance",
        "verboseLabel": "Operating loss carryforwards, valuation allowance"
       }
      }
     },
     "localname": "OperatingLossCarryforwardsValuationAllowance",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Organization, Consolidation and Presentation of Financial Statements [Abstract]"
       }
      }
     },
     "localname": "OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock": {
     "auth_ref": [
      "r2",
      "r468"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.",
        "label": "Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]",
        "terseLabel": "Organization and Business"
       }
      }
     },
     "localname": "OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/OrganizationAndBusiness"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_OtherAccruedLiabilitiesCurrent": {
     "auth_ref": [
      "r10",
      "r11",
      "r12",
      "r44"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails": {
       "order": 5.0,
       "parentTag": "mtn_AccountsPayableAccruedLiabilities",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.",
        "label": "Other Accrued Liabilities, Current",
        "terseLabel": "Other accruals"
       }
      }
     },
     "localname": "OtherAccruedLiabilitiesCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherAssetsCurrent": {
     "auth_ref": [
      "r57"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 5.0,
       "parentTag": "us-gaap_AssetsCurrent",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of current assets classified as other.",
        "label": "Other Assets, Current",
        "terseLabel": "Other current assets"
       }
      }
     },
     "localname": "OtherAssetsCurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherAssetsNoncurrent": {
     "auth_ref": [
      "r39"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 4.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of noncurrent assets classified as other.",
        "label": "Other Assets, Noncurrent",
        "terseLabel": "Deferred charges and other assets"
       }
      }
     },
     "localname": "OtherAssetsNoncurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent": {
     "auth_ref": [
      "r452",
      "r453",
      "r461"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": 3.0,
       "parentTag": "us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss), attributable to parent entity.",
        "label": "Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Portion Attributable to Parent",
        "negatedTerseLabel": "Change in estimated fair value of hedging instruments"
       }
      }
     },
     "localname": "OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax": {
     "auth_ref": [
      "r60"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": 2.0,
       "parentTag": "us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.",
        "label": "Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax",
        "netLabel": "Foreign currency translation adjustments (net of tax of $0, $0 and $1,981, respectively)",
        "verboseLabel": "Foreign currency translation adjustments, net of tax"
       }
      }
     },
     "localname": "OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherFiniteLivedIntangibleAssetsGross": {
     "auth_ref": [
      "r256"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_FiniteLivedIntangibleAssetsGross",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated amortization of finite-lived intangible assets classified as other.",
        "label": "Other Finite-Lived Intangible Assets, Gross",
        "terseLabel": "Other Finite-Lived Intangible Assets, Gross"
       }
      }
     },
     "localname": "OtherFiniteLivedIntangibleAssetsGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherIndefiniteLivedIntangibleAssets": {
     "auth_ref": [
      "r259"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after impairment of indefinite-lived intangible assets classified as other. Excludes financial assets and goodwill.",
        "label": "Other Indefinite-lived Intangible Assets",
        "terseLabel": "Other Indefinite-lived Intangible Assets"
       }
      }
     },
     "localname": "OtherIndefiniteLivedIntangibleAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherLiabilitiesNoncurrent": {
     "auth_ref": [
      "r50"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails": {
       "order": 2.0,
       "parentTag": "mtn_OtherLongTermLiabilitiesNoncurrent",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer.",
        "label": "Other Liabilities, Noncurrent",
        "terseLabel": "Other long-term liabilities"
       }
      }
     },
     "localname": "OtherLiabilitiesNoncurrent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfOtherLongTermLiabilitiesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherLongTermDebt": {
     "auth_ref": [
      "r19",
      "r573",
      "r596"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of long-term debt classified as other.",
        "label": "Other Long-term Debt",
        "terseLabel": "Other long-term liabilities"
       }
      }
     },
     "localname": "OtherLongTermDebt",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_OtherNoncashIncome": {
     "auth_ref": [
      "r104"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 11.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of income or gain included in net income that result in no cash inflow (outflow), classified as other.",
        "label": "Other Noncash Income",
        "negatedLabel": "Other non-cash income, net"
       }
      }
     },
     "localname": "OtherNoncashIncome",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsForProceedsFromOtherInvestingActivities": {
     "auth_ref": [
      "r86",
      "r89",
      "r124"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 3.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInInvestingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash (inflow) outflow from investing activities classified as other.",
        "label": "Payments for (Proceeds from) Other Investing Activities",
        "negatedLabel": "Other investing activities, net"
       }
      }
     },
     "localname": "PaymentsForProceedsFromOtherInvestingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsForRent": {
     "auth_ref": [
      "r100"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Cash payments to lessor's for use of assets under operating leases.",
        "label": "Payments for Rent",
        "negatedTerseLabel": "Payments for Rent"
       }
      }
     },
     "localname": "PaymentsForRent",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsForRepurchaseOfCommonStock": {
     "auth_ref": [
      "r92"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 2.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash outflow to reacquire common stock during the period.",
        "label": "Payments for Repurchase of Common Stock",
        "negatedTerseLabel": "Repurchases of common stock",
        "terseLabel": "Repurchases of Common Stock"
       }
      }
     },
     "localname": "PaymentsForRepurchaseOfCommonStock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsForRepurchaseOfEquityAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Payments for Repurchase of Equity [Abstract]"
       }
      }
     },
     "localname": "PaymentsForRepurchaseOfEquityAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_PaymentsOfDividends": {
     "auth_ref": [
      "r92"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 8.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.",
        "label": "Payments of Dividends",
        "negatedTerseLabel": "Dividends paid",
        "terseLabel": "Dividends (Note 3)"
       }
      }
     },
     "localname": "PaymentsOfDividends",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation": {
     "auth_ref": [
      "r92"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 9.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash outflow to satisfy grantee's tax withholding obligation for award under share-based payment arrangement.",
        "label": "Payment, Tax Withholding, Share-based Payment Arrangement",
        "negatedLabel": "Employee taxes paid for share award exercises"
       }
      }
     },
     "localname": "PaymentsRelatedToTaxWithholdingForShareBasedCompensation",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired": {
     "auth_ref": [
      "r87"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 2.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInInvestingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.",
        "label": "Payments to Acquire Businesses, Net of Cash Acquired",
        "negatedLabel": "Acquisition of businesses, net of cash acquired",
        "terseLabel": "Payments to Acquire Businesses, Net of Cash Acquired"
       }
      }
     },
     "localname": "PaymentsToAcquireBusinessesNetOfCashAcquired",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PaymentsToAcquireProductiveAssets": {
     "auth_ref": [
      "r88"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 1.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInInvestingActivities",
       "weight": -1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets.",
        "label": "Payments to Acquire Productive Assets",
        "negatedLabel": "Capital expenditures"
       }
      }
     },
     "localname": "PaymentsToAcquireProductiveAssets",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PreferredStockParOrStatedValuePerShare": {
     "auth_ref": [
      "r23"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.",
        "label": "Preferred Stock, Par or Stated Value Per Share",
        "terseLabel": "Preferred stock, par value (in dollars per share)"
       }
      }
     },
     "localname": "PreferredStockParOrStatedValuePerShare",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_PreferredStockSharesAuthorized": {
     "auth_ref": [
      "r23"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.",
        "label": "Preferred Stock, Shares Authorized",
        "terseLabel": "Preferred stock, shares authorized"
       }
      }
     },
     "localname": "PreferredStockSharesAuthorized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_PreferredStockSharesIssued": {
     "auth_ref": [
      "r23"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.",
        "label": "Preferred Stock, Shares Issued",
        "terseLabel": "Preferred stock, shares issued"
       }
      }
     },
     "localname": "PreferredStockSharesIssued",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_PreferredStockSharesOutstanding": {
     "auth_ref": [
      "r23"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.",
        "label": "Preferred Stock, Shares Outstanding",
        "terseLabel": "Preferred stock, shares outstanding"
       }
      }
     },
     "localname": "PreferredStockSharesOutstanding",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_PreferredStockValue": {
     "auth_ref": [
      "r23"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.",
        "label": "Preferred Stock, Value, Issued",
        "terseLabel": "Preferred stock, $0.01 par value, 25,000 shares authorized, no shares issued and outstanding"
       }
      }
     },
     "localname": "PreferredStockValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromLinesOfCredit": {
     "auth_ref": [
      "r90",
      "r121"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 3.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.",
        "label": "Proceeds from Lines of Credit",
        "terseLabel": "Proceeds from borrowings under Vail Holdings Credit Agreement"
       }
      }
     },
     "localname": "ProceedsFromLinesOfCredit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromNotesPayable": {
     "auth_ref": [
      "r90"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 1.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash inflow from a borrowing supported by a written promise to pay an obligation.",
        "label": "Proceeds from Notes Payable",
        "terseLabel": "Proceeds from borrowings under 6.25% Notes"
       }
      }
     },
     "localname": "ProceedsFromNotesPayable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromPaymentsForOtherFinancingActivities": {
     "auth_ref": [
      "r91",
      "r93",
      "r124"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 7.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInFinancingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow (outflow) from financing activities classified as other.",
        "label": "Proceeds from (Payments for) Other Financing Activities",
        "terseLabel": "Other financing activities, net"
       }
      }
     },
     "localname": "ProceedsFromPaymentsForOtherFinancingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromRepaymentsOfDebt": {
     "auth_ref": [
      "r124"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.",
        "label": "Proceeds from (Repayments of) Debt",
        "terseLabel": "Proceeds from (Repayments of) Debt"
       }
      }
     },
     "localname": "ProceedsFromRepaymentsOfDebt",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromSaleOfOtherRealEstate": {
     "auth_ref": [
      "r86"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash inflow associated with the sale of other real estate not otherwise defined in the taxonomy.",
        "label": "Proceeds from Sale of Other Real Estate",
        "terseLabel": "Proceeds from Sale of Other Real Estate"
       }
      }
     },
     "localname": "ProceedsFromSaleOfOtherRealEstate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProceedsFromUnsecuredNotesPayable": {
     "auth_ref": [
      "r90"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cash inflow from borrowings supported by a written promise to pay an obligation that is uncollateralized (where debt is not backed by the pledge of collateral).",
        "label": "Proceeds from Unsecured Notes Payable",
        "terseLabel": "Proceeds from Unsecured Notes Payable"
       }
      }
     },
     "localname": "ProceedsFromUnsecuredNotesPayable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ProfitLoss": {
     "auth_ref": [
      "r1",
      "r67",
      "r69",
      "r95",
      "r117",
      "r131",
      "r139",
      "r140",
      "r185",
      "r191",
      "r195",
      "r198",
      "r201",
      "r223",
      "r452",
      "r458",
      "r460",
      "r466",
      "r467",
      "r486",
      "r586"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome": {
       "order": 1.0,
       "parentTag": "us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 2.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "us-gaap_NetIncomeLoss",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.",
        "label": "Net Income (Loss), Including Portion Attributable to Noncontrolling Interest",
        "terseLabel": "Net income",
        "totalLabel": "Net income",
        "verboseLabel": "Net income, including portion attributable to noncontrolling interest"
       }
      }
     },
     "localname": "ProfitLoss",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentByTypeAxis": {
     "auth_ref": [
      "r38",
      "r267"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of long-lived, physical assets used to produce goods and services and not intended for resale.",
        "label": "Long-Lived Tangible Asset [Axis]",
        "terseLabel": "Long-Lived Tangible Asset [Axis]",
        "verboseLabel": "Property, Plant and Equipment by Type [Axis]"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentByTypeAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentGross": {
     "auth_ref": [
      "r37",
      "r265"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_PropertyPlantAndEquipmentNet",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.",
        "label": "Property, Plant and Equipment, Gross",
        "totalLabel": "Gross property, plant and equipment"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentGross",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Property, Plant and Equipment [Line Items]",
        "terseLabel": "Property, Plant and Equipment [Line Items]"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentNet": {
     "auth_ref": [
      "r15",
      "r16",
      "r267",
      "r602"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_Assets",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.",
        "label": "Property, Plant and Equipment, Net",
        "terseLabel": "Property, Plant and Equipment, Net",
        "totalLabel": "Property, plant and equipment, net",
        "verboseLabel": "Property, plant and equipment, net (Note 8)"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentNet",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentPolicyTextBlock": {
     "auth_ref": [
      "r36",
      "r113",
      "r267",
      "r627",
      "r628"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.",
        "label": "Property, Plant and Equipment, Policy [Policy Text Block]",
        "terseLabel": "Property, Plant and Equipment"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentTextBlock": {
     "auth_ref": [
      "r15",
      "r267"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.",
        "label": "Property, Plant and Equipment [Table Text Block]",
        "terseLabel": "Composition Of Property, Plant And Equipment"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentTypeDomain": {
     "auth_ref": [
      "r15",
      "r265"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Listing of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.",
        "label": "Long-Lived Tangible Asset [Domain]",
        "terseLabel": "Long-Lived Tangible Asset [Domain]"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentTypeDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_PropertyPlantAndEquipmentUsefulLife": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.",
        "label": "Property, Plant and Equipment, Useful Life",
        "terseLabel": "Estimated life in years"
       }
      }
     },
     "localname": "PropertyPlantAndEquipmentUsefulLife",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_QuarterlyFinancialInformationDisclosureAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Quarterly Financial Information Disclosure [Abstract]"
       }
      }
     },
     "localname": "QuarterlyFinancialInformationDisclosureAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_QuarterlyFinancialInformationTextBlock": {
     "auth_ref": [
      "r161"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.",
        "label": "Quarterly Financial Information [Text Block]",
        "terseLabel": "Selected Quarterly Financial Data"
       }
      }
     },
     "localname": "QuarterlyFinancialInformationTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialData"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RealEstateHeldForDevelopmentAndSalePolicy": {
     "auth_ref": [
      "r113",
      "r630"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for real estate held for development or sale.",
        "label": "Real Estate Held for Development and Sale, Policy [Policy Text Block]",
        "terseLabel": "Real Estate Held for Sale and Investment"
       }
      }
     },
     "localname": "RealEstateHeldForDevelopmentAndSalePolicy",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RealEstateMember": {
     "auth_ref": [
      "r323"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Property consisting of land, land improvement and buildings.",
        "label": "Real Estate [Member]",
        "terseLabel": "Real Estate [Member]"
       }
      }
     },
     "localname": "RealEstateMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_RealEstatePolicyTextBlock": {
     "auth_ref": [
      "r113",
      "r499",
      "r629"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise.",
        "label": "Real Estate, Policy [Policy Text Block]",
        "terseLabel": "Real Estate Cost of Sales"
       }
      }
     },
     "localname": "RealEstatePolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RelatedPartyDomain": {
     "auth_ref": [
      "r339",
      "r532",
      "r533"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Related parties include affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.",
        "label": "Related Party [Domain]",
        "terseLabel": "Related Party [Domain]"
       }
      }
     },
     "localname": "RelatedPartyDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_RelatedPartyTransactionAmountsOfTransaction": {
     "auth_ref": [
      "r532",
      "r535"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of transactions with related party during the financial reporting period.",
        "label": "Related Party Transaction, Amounts of Transaction",
        "terseLabel": "Management fees and reimbursement of operating expenses"
       }
      }
     },
     "localname": "RelatedPartyTransactionAmountsOfTransaction",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RelatedPartyTransactionsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Related Party Transactions [Abstract]"
       }
      }
     },
     "localname": "RelatedPartyTransactionsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_RelatedPartyTransactionsByRelatedPartyAxis": {
     "auth_ref": [
      "r339",
      "r532",
      "r535",
      "r554",
      "r555",
      "r556",
      "r557",
      "r558",
      "r559",
      "r560",
      "r561",
      "r562",
      "r563",
      "r564",
      "r565"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of related party. Related parties include, but not limited to, affiliates; other entities for which investments are accounted for by the equity method by the entity; trusts for benefit of employees; and principal owners, management, and members of immediate families. It also may include other parties with which the entity may control or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests.",
        "label": "Related Party [Axis]",
        "terseLabel": "Related Party [Axis]"
       }
      }
     },
     "localname": "RelatedPartyTransactionsByRelatedPartyAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_RelatedPartyTransactionsDisclosureTextBlock": {
     "auth_ref": [
      "r530",
      "r531",
      "r533",
      "r536",
      "r537"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.",
        "label": "Related Party Transactions Disclosure [Text Block]",
        "terseLabel": "Related Party Transactions"
       }
      }
     },
     "localname": "RelatedPartyTransactionsDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactions"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue": {
     "auth_ref": [
      "r3",
      "r14",
      "r105",
      "r111"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 2.0,
       "parentTag": "us-gaap_AssetsCurrent",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Restricted Cash and Cash Equivalents, Current",
        "terseLabel": "Restricted cash"
       }
      }
     },
     "localname": "RestrictedCashAndCashEquivalentsAtCarryingValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis": {
     "auth_ref": [
      "r34"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by category of cash or cash equivalent items which are restricted as to withdrawal or usage.",
        "label": "Restricted Cash and Cash Equivalents [Axis]",
        "terseLabel": "Restricted Cash and Cash Equivalents [Axis]"
       }
      }
     },
     "localname": "RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Type of cash and cash equivalent. Cash is currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.",
        "label": "Cash and Cash Equivalents [Domain]",
        "terseLabel": "Cash and Cash Equivalents [Domain]"
       }
      }
     },
     "localname": "RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_RetainedEarningsAccumulatedDeficit": {
     "auth_ref": [
      "r27",
      "r303",
      "r379",
      "r599",
      "r620",
      "r622"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 5.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cumulative amount of the reporting entity's undistributed earnings or deficit.",
        "label": "Retained Earnings (Accumulated Deficit)",
        "terseLabel": "Retained earnings"
       }
      }
     },
     "localname": "RetainedEarningsAccumulatedDeficit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RetainedEarningsMember": {
     "auth_ref": [
      "r128",
      "r129",
      "r130",
      "r132",
      "r138",
      "r140",
      "r226",
      "r376",
      "r377",
      "r378",
      "r417",
      "r418",
      "r617",
      "r619"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The cumulative amount of the reporting entity's undistributed earnings or deficit.",
        "label": "Retained Earnings [Member]",
        "terseLabel": "Retained Earnings [Member]"
       }
      }
     },
     "localname": "RetainedEarningsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_RetainedEarningsUndistributedEarningsFromEquityMethodInvestees": {
     "auth_ref": [
      "r538"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of consolidated retained earnings that represent undistributed (not yet received) earnings from 50% or less owned persons accounted for by the equity method (equity method investees).",
        "label": "Retained Earnings, Undistributed Earnings from Equity Method Investees",
        "terseLabel": "Undistributed earnings of equity method affiliates"
       }
      }
     },
     "localname": "RetainedEarningsUndistributedEarningsFromEquityMethodInvestees",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RevenueFromContractWithCustomerTextBlock": {
     "auth_ref": [
      "r311",
      "r312",
      "r313",
      "r314",
      "r315",
      "r316",
      "r317",
      "r318",
      "r322",
      "r330"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.",
        "label": "Revenue from Contract with Customer [Text Block]",
        "terseLabel": "Revenue from Contract with Customer [Text Block]"
       }
      }
     },
     "localname": "RevenueFromContractWithCustomerTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RevenuesNotes"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock": {
     "auth_ref": [
      "r206"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.",
        "label": "Revenue from External Customers by Geographic Areas [Table Text Block]",
        "terseLabel": "Revenue and Properties, Plant and Equipment from External Customers by Geographic Areas [Table Text Block]"
       }
      }
     },
     "localname": "RevenueFromExternalCustomersByGeographicAreasTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_RevenueFromRelatedParties": {
     "auth_ref": [
      "r83",
      "r624"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.",
        "label": "Revenue from Related Parties",
        "terseLabel": "Real estate revenue from leases"
       }
      }
     },
     "localname": "RevenueFromRelatedParties",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RevenueRecognitionPolicyTextBlock": {
     "auth_ref": [
      "r114",
      "r115"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.",
        "label": "Revenue [Policy Text Block]",
        "terseLabel": "Revenue Recognition"
       }
      }
     },
     "localname": "RevenueRecognitionPolicyTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_Revenues": {
     "auth_ref": [
      "r74",
      "r117",
      "r176",
      "r177",
      "r190",
      "r196",
      "r197",
      "r203",
      "r204",
      "r208",
      "r223",
      "r486",
      "r586"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations": {
       "order": 1.0,
       "parentTag": "us-gaap_OperatingIncomeLoss",
       "weight": 1.0
      },
      "http://www.vailresorts.com/role/SegmentInformationDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).",
        "label": "Revenues",
        "terseLabel": "Revenues",
        "totalLabel": "Total net revenue"
       }
      }
     },
     "localname": "Revenues",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_RevenuesAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Revenues [Abstract]",
        "terseLabel": "Net revenue:"
       }
      }
     },
     "localname": "RevenuesAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability": {
     "auth_ref": [
      "r524",
      "r529"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase in right-of-use asset obtained in exchange for operating lease liability.",
        "label": "Right-of-Use Asset Obtained in Exchange for Operating Lease Liability",
        "terseLabel": "Right-of-Use Asset Obtained in Exchange for Operating Lease Liability"
       }
      }
     },
     "localname": "RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_SaleLeasebackTransactionNetProceedsFinancingActivities": {
     "auth_ref": [
      "r509",
      "r510",
      "r511"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of cash inflow after closing and debt issuance costs received by a seller-lessee in a sale-leaseback recognized in financing activities.",
        "label": "Sale Leaseback Transaction, Net Proceeds, Financing Activities",
        "terseLabel": "Sale Leaseback Transaction, Net Proceeds, Financing Activities"
       }
      }
     },
     "localname": "SaleLeasebackTransactionNetProceedsFinancingActivities",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfAggregateMaturitiesForDebtOutstandingDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.",
        "label": "Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]",
        "terseLabel": "Components Of Accounts Payable And Accrued Liabilities"
       }
      }
     },
     "localname": "ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable": {
     "auth_ref": [
      "r438",
      "r439"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule reflecting each material business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities.",
        "label": "Schedule of Business Acquisitions, by Acquisition [Table]",
        "terseLabel": "Schedule of Business Acquisitions, by Acquisition [Table]"
       }
      }
     },
     "localname": "ScheduleOfBusinessAcquisitionsByAcquisitionTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfChangeInAccountingEstimateTable": {
     "auth_ref": [
      "r136",
      "r157"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A summarization of the nature of changes in accounting estimates, including changes that occur in interim periods. Changes in accounting estimate have the effect of adjusting the carrying amounts of existing assets or liabilities or altering the subsequent accounting for existing or future assets or liabilities. Changes in accounting estimates are a necessary consequence of assessments, in conjunction with the periodic presentation of financial statements, of the present status and expected future benefits and obligations associated with assets and liabilities. Changes in accounting estimates result from new or better information. Examples of items for which estimates are necessary are uncollectible receivables, inventory obsolescence, service lives and salvage values of depreciable assets, warranty obligations, and regulatory reviews.",
        "label": "Schedule of Change in Accounting Estimate [Table]",
        "terseLabel": "Schedule of Change in Accounting Estimate [Table]"
       }
      }
     },
     "localname": "ScheduleOfChangeInAccountingEstimateTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock": {
     "auth_ref": [
      "r416"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.",
        "label": "Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]",
        "verboseLabel": "Components Of Provision (Benefit) For Income Taxes"
       }
      }
     },
     "localname": "ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfDebtInstrumentsTextBlock": {
     "auth_ref": [
      "r49",
      "r120",
      "r299",
      "r300",
      "r301",
      "r302",
      "r501",
      "r502",
      "r504",
      "r591"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.",
        "label": "Schedule of Long-term Debt Instruments [Table Text Block]",
        "terseLabel": "Schedule Of Long-Term Debt"
       }
      }
     },
     "localname": "ScheduleOfDebtInstrumentsTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock": {
     "auth_ref": [
      "r408"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.",
        "label": "Schedule of Deferred Tax Assets and Liabilities [Table Text Block]",
        "terseLabel": "Components Of Deferred Tax Liabilities And Assets"
       }
      }
     },
     "localname": "ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock": {
     "auth_ref": [
      "r150"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.",
        "label": "Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]",
        "terseLabel": "Summary Of Calculation On Basic And Diluted EPS"
       }
      }
     },
     "localname": "ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock": {
     "auth_ref": [
      "r394"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.",
        "label": "Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]",
        "terseLabel": "Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation"
       }
      }
     },
     "localname": "ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable": {
     "auth_ref": [
      "r349",
      "r371",
      "r381"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of information about amount recognized for award under share-based payment arrangement. Includes, but is not limited to, amount expensed in statement of income or comprehensive income, amount capitalized in statement of financial position, and corresponding reporting line item in financial statements.",
        "label": "Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table]",
        "terseLabel": "Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table]"
       }
      }
     },
     "localname": "ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock": {
     "auth_ref": [
      "r349",
      "r371",
      "r381"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.",
        "label": "Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]",
        "terseLabel": "Allocation Of Stock-Based Compensation Expense"
       }
      }
     },
     "localname": "ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfEquityMethodInvestmentsTable": {
     "auth_ref": [
      "r1",
      "r117",
      "r222",
      "r223",
      "r486"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Summarization of information required and determined to be disclosed concerning equity method investments in common stock. The summarized information includes: (a) the name of each investee or group of investees for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.",
        "label": "Schedule of Equity Method Investments [Table]",
        "terseLabel": "Schedule of Equity Method Investments [Table]"
       }
      }
     },
     "localname": "ScheduleOfEquityMethodInvestmentsTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfGoodwillTable": {
     "auth_ref": [
      "r245",
      "r247"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule of goodwill and the changes during the year due to acquisition, sale, impairment or for other reasons.",
        "label": "Schedule of Goodwill [Table]",
        "terseLabel": "Schedule of Goodwill [Table]"
       }
      }
     },
     "localname": "ScheduleOfGoodwillTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfGoodwillTextBlock": {
     "auth_ref": [
      "r245",
      "r247"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.",
        "label": "Schedule of Goodwill [Table Text Block]",
        "verboseLabel": "Changes In Goodwill Amount"
       }
      }
     },
     "localname": "ScheduleOfGoodwillTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock": {
     "auth_ref": [
      "r122"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of income before income tax between domestic and foreign jurisdictions.",
        "label": "Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]",
        "terseLabel": "Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]"
       }
      }
     },
     "localname": "ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock": {
     "auth_ref": [
      "r245"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.",
        "label": "Schedule of Intangible Assets and Goodwill [Table Text Block]",
        "terseLabel": "Composition Of Goodwill And Intangible Assets"
       }
      }
     },
     "localname": "ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock": {
     "auth_ref": [
      "r290"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of maturity and sinking fund requirement for long-term debt.",
        "label": "Schedule of Maturities of Long-term Debt [Table Text Block]",
        "terseLabel": "Schedule Of Aggregate Maturities For Debt Outstanding"
       }
      }
     },
     "localname": "ScheduleOfMaturitiesOfLongTermDebtTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock": {
     "auth_ref": [
      "r359"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the changes in outstanding nonvested restricted stock units.",
        "label": "Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]",
        "terseLabel": "Schedule Of Share Based Compensation Restricted Stock Units Activity"
       }
      }
     },
     "localname": "ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfPropertyPlantAndEquipmentTable": {
     "auth_ref": [
      "r38",
      "r267"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of information about physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.",
        "label": "Property, Plant and Equipment [Table]",
        "terseLabel": "Property, Plant and Equipment [Table]",
        "verboseLabel": "Schedule of Property, Plant and Equipment [Table]"
       }
      }
     },
     "localname": "ScheduleOfPropertyPlantAndEquipmentTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfPropertyPlantAndEquipmentUnderCapitalLeaseDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock": {
     "auth_ref": [
      "r159"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data.",
        "label": "Quarterly Financial Information [Table Text Block]",
        "terseLabel": "Selected Quarterly Financial Data"
       }
      }
     },
     "localname": "ScheduleOfQuarterlyFinancialInformationTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock": {
     "auth_ref": [
      "r442"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.",
        "label": "Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]",
        "terseLabel": "Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]"
       }
      }
     },
     "localname": "ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/Acquisitions",
      "http://www.vailresorts.com/role/AcquisitionsTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable": {
     "auth_ref": [
      "r119",
      "r534",
      "r535"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule of quantitative and qualitative information pertaining to related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.",
        "label": "Schedule of Related Party Transactions, by Related Party [Table]",
        "terseLabel": "Schedule of Related Party Transactions, by Related Party [Table]"
       }
      }
     },
     "localname": "ScheduleOfRelatedPartyTransactionsByRelatedPartyTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock": {
     "auth_ref": [
      "r14",
      "r111",
      "r567",
      "r597"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.",
        "label": "Restrictions on Cash and Cash Equivalents [Table Text Block]",
        "terseLabel": "Restrictions on Cash and Cash Equivalents [Table Text Block]"
       }
      }
     },
     "localname": "ScheduleOfRestrictedCashAndCashEquivalentsTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable": {
     "auth_ref": [
      "r185",
      "r188",
      "r194",
      "r245"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A table disclosing the profit or loss and total assets for each reportable segment of the entity. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.",
        "label": "Schedule of Segment Reporting Information, by Segment [Table]",
        "terseLabel": "Schedule of Segment Reporting Information, by Segment [Table]"
       }
      }
     },
     "localname": "ScheduleOfSegmentReportingInformationBySegmentTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock": {
     "auth_ref": [
      "r185",
      "r188",
      "r194",
      "r245"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.",
        "label": "Schedule of Segment Reporting Information, by Segment [Table Text Block]",
        "terseLabel": "Summary Of Financial Information By Reportable Segment"
       }
      }
     },
     "localname": "ScheduleOfSegmentReportingInformationBySegmentTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable": {
     "auth_ref": [
      "r351",
      "r374"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of information about share-based payment arrangement.",
        "label": "Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]",
        "terseLabel": "Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]"
       }
      }
     },
     "localname": "ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock": {
     "auth_ref": [
      "r357",
      "r361",
      "r364"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.",
        "label": "Share-based Payment Arrangement, Option, Activity [Table Text Block]",
        "terseLabel": "Schedule of Share Based Compensation SARs Activity"
       }
      }
     },
     "localname": "ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock": {
     "auth_ref": [
      "r357"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.",
        "label": "Share-based Payment Arrangement, Option and Stock Appreciation Rights, Activity [Table Text Block]",
        "terseLabel": "Schedule Of Share Based Compensation Option And SARs Award Activity"
       }
      }
     },
     "localname": "ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock": {
     "auth_ref": [
      "r367"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.",
        "label": "Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]",
        "terseLabel": "Schedule Of Share Based Compensation Valuation Model"
       }
      }
     },
     "localname": "ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ScheduleOfTreasuryStockByClassTextBlock": {
     "auth_ref": [
      "r305",
      "r306",
      "r307",
      "r308"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.",
        "label": "Class of Treasury Stock [Table Text Block]",
        "terseLabel": "Stock Repurchase Plan"
       }
      }
     },
     "localname": "ScheduleOfTreasuryStockByClassTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlan"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_SegmentDomain": {
     "auth_ref": [
      "r173",
      "r176",
      "r177",
      "r178",
      "r179",
      "r180",
      "r181",
      "r182",
      "r183",
      "r184",
      "r185",
      "r186",
      "r187",
      "r190",
      "r191",
      "r192",
      "r193",
      "r195",
      "r196",
      "r197",
      "r198",
      "r199",
      "r201",
      "r208",
      "r612"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Components of an entity that engage in business activities from which they may earn revenue and incur expenses, including transactions with other components of the same entity.",
        "label": "Segments [Domain]",
        "terseLabel": "Reporting Segment [Domain]"
       }
      }
     },
     "localname": "SegmentDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_SegmentReportingAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Segment Reporting [Abstract]"
       }
      }
     },
     "localname": "SegmentReportingAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_SegmentReportingDisclosureTextBlock": {
     "auth_ref": [
      "r173",
      "r174",
      "r175",
      "r185",
      "r189",
      "r195",
      "r199",
      "r200",
      "r201",
      "r202",
      "r203",
      "r207",
      "r208",
      "r209"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.",
        "label": "Segment Reporting Disclosure [Text Block]",
        "terseLabel": "Segment Information"
       }
      }
     },
     "localname": "SegmentReportingDisclosureTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformation"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_SegmentReportingInformationLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Segment Reporting Information [Line Items]",
        "terseLabel": "Segment Reporting Information [Line Items]"
       }
      }
     },
     "localname": "SegmentReportingInformationLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_SegmentsGeographicalAreasAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Segments, Geographical Areas [Abstract]"
       }
      }
     },
     "localname": "SegmentsGeographicalAreasAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription": {
     "auth_ref": [
      "r549"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of assumptions, classified as other, used in determining fair value of transferor's interests in transferred financial assets.",
        "label": "Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description",
        "terseLabel": "Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description"
       }
      }
     },
     "localname": "SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfAdverseChangeInOtherAssumptionDescription",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ShareBasedCompensation": {
     "auth_ref": [
      "r102"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows": {
       "order": 5.0,
       "parentTag": "us-gaap_NetCashProvidedByUsedInOperatingActivities",
       "weight": 1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of noncash expense for share-based payment arrangement.",
        "label": "Share-based Payment Arrangement, Noncash Expense",
        "terseLabel": "Stock-based compensation expense"
       }
      }
     },
     "localname": "ShareBasedCompensation",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1": {
     "auth_ref": [
      "r352"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period",
        "terseLabel": "Stock based compensation award vesting period"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod": {
     "auth_ref": [
      "r360"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period",
        "verboseLabel": "Stock based compensation, restricted shares vested (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue": {
     "auth_ref": [
      "r363"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value",
        "terseLabel": "Stock based compensation, total fair value of restricted shares"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate": {
     "auth_ref": [
      "r370"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate",
        "terseLabel": "Expected dividends"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate": {
     "auth_ref": [
      "r369"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate",
        "terseLabel": "Expected volatility"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The maximum risk-free interest rate assumption that is used in valuing an option on its own shares.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum",
        "terseLabel": "Risk-free rate, maximum"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The minimum risk-free interest rate assumption that is used in valuing an option on its own shares.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum",
        "terseLabel": "Risk-free rate, minimum"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "percentItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award [Line Items]",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award [Line Items]"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized": {
     "auth_ref": [
      "r353"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of shares authorized for issuance under share-based payment arrangement.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized",
        "terseLabel": "Shares issued for stock based compensation (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant": {
     "auth_ref": [
      "r374"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant",
        "terseLabel": "Stock based compensation, shares available for grant (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue": {
     "auth_ref": [
      "r363"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value",
        "terseLabel": "Intrinsic value of options and SARs exercised"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod": {
     "auth_ref": [
      "r358"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Net number of share options (or share units) granted during the period.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures",
        "verboseLabel": "Stock based compensation, restricted shares granted (in shares)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue": {
     "auth_ref": [
      "r362"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value",
        "verboseLabel": "Weighted-average grant-date fair value (in dollars per share)"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber": {
     "auth_ref": [
      "r366"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of fully vested and expected to vest exercisable options that may be converted into shares under option plan. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue": {
     "auth_ref": [
      "r364"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount by which current fair value of underlying stock exceeds exercise price of fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice": {
     "auth_ref": [
      "r365"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted-average exercise price, at which grantee can acquire shares reserved for issuance, for fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "perShareItemType"
    },
    "us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain": {
     "auth_ref": [
      "r348",
      "r354"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Award under share-based payment arrangement.",
        "label": "Award Type [Domain]",
        "terseLabel": "Award Type [Domain]"
       }
      }
     },
     "localname": "ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy": {
     "auth_ref": [
      "r113",
      "r351",
      "r355"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.",
        "label": "Share-based Payment Arrangement [Policy Text Block]",
        "terseLabel": "Stock-Based Compensation"
       }
      }
     },
     "localname": "ShareBasedCompensationOptionAndIncentivePlansPolicy",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1": {
     "auth_ref": [
      "r368",
      "r380"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Expected term of award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term",
        "terseLabel": "Expected term (average in years)"
       }
      }
     },
     "localname": "SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationValuationModelDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1": {
     "auth_ref": [
      "r365"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term"
       }
      }
     },
     "localname": "SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationOptionAndSarsAwardActivityDetails"
     ],
     "xbrltype": "durationItemType"
    },
    "us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1": {
     "auth_ref": [
      "r356"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value"
       }
      }
     },
     "localname": "SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of options vested.",
        "label": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares",
        "terseLabel": "Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares"
       }
      }
     },
     "localname": "SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_ShortTermLeaseCost": {
     "auth_ref": [
      "r521",
      "r529"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of short-term lease cost, excluding expense for lease with term of one month or less.",
        "label": "Short-term Lease, Cost",
        "terseLabel": "Short-term Lease, Cost"
       }
      }
     },
     "localname": "ShortTermLeaseCost",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_SignificantAccountingPoliciesTextBlock": {
     "auth_ref": [
      "r127"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for all significant accounting policies of the reporting entity.",
        "label": "Significant Accounting Policies [Text Block]",
        "terseLabel": "Summary of Significant Accounting Policies"
       }
      }
     },
     "localname": "SignificantAccountingPoliciesTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_SoftwareAndSoftwareDevelopmentCostsMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Purchased software applications and internally developed software for sale, licensing or long-term internal use.",
        "label": "Software and Software Development Costs [Member]",
        "terseLabel": "Software and Software Development Costs [Member]"
       }
      }
     },
     "localname": "SoftwareAndSoftwareDevelopmentCostsMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_StateAndLocalJurisdictionMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Designated tax department of a state or local government entitled to levy and collect income taxes from the entity.",
        "label": "State and Local Jurisdiction [Member]",
        "terseLabel": "State and Local Jurisdiction [Member]"
       }
      }
     },
     "localname": "StateAndLocalJurisdictionMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_StatementBusinessSegmentsAxis": {
     "auth_ref": [
      "r0",
      "r173",
      "r176",
      "r177",
      "r178",
      "r179",
      "r180",
      "r181",
      "r182",
      "r183",
      "r184",
      "r185",
      "r186",
      "r187",
      "r190",
      "r191",
      "r192",
      "r193",
      "r195",
      "r196",
      "r197",
      "r198",
      "r199",
      "r201",
      "r208",
      "r245",
      "r270",
      "r274",
      "r275",
      "r612"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by business segments.",
        "label": "Segments [Axis]",
        "terseLabel": "Segments [Axis]",
        "verboseLabel": "Segment Reporting Information, by Segment [Axis]"
       }
      }
     },
     "localname": "StatementBusinessSegmentsAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/RevenuesDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementClassOfStockAxis": {
     "auth_ref": [
      "r22",
      "r23",
      "r24",
      "r116",
      "r117",
      "r144",
      "r145",
      "r146",
      "r148",
      "r150",
      "r163",
      "r164",
      "r165",
      "r223",
      "r298",
      "r486"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by the different classes of stock of the entity.",
        "label": "Class of Stock [Axis]",
        "terseLabel": "Class of Stock [Axis]"
       }
      }
     },
     "localname": "StatementClassOfStockAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementEquityComponentsAxis": {
     "auth_ref": [
      "r53",
      "r128",
      "r129",
      "r130",
      "r132",
      "r138",
      "r140",
      "r162",
      "r226",
      "r298",
      "r303",
      "r376",
      "r377",
      "r378",
      "r417",
      "r418",
      "r492",
      "r493",
      "r494",
      "r495",
      "r496",
      "r497",
      "r617",
      "r618",
      "r619"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by component of equity.",
        "label": "Equity Components [Axis]",
        "terseLabel": "Equity Components [Axis]"
       }
      }
     },
     "localname": "StatementEquityComponentsAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/AcquisitionsSummaryOfEstimateOfFairValueOfIdentifiableAssetsAcquiredAndLiabilitiesAssumedDetails",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementLineItems": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Statement [Line Items]",
        "terseLabel": "Statement [Line Items]"
       }
      }
     },
     "localname": "StatementLineItems",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/AcquisitionsNarrativeDetails",
      "http://www.vailresorts.com/role/CommitmentsAndContingenciesNarrativeDetails",
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/FairValueMeasurementsDetails",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/InvestmentsInAffiliatesDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/RelatedPartyTransactionsDetails",
      "http://www.vailresorts.com/role/SegmentInformationDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationRestrictedStockUnitsActivityDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesAllocationOfStockBasedCompensationExpenseDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails",
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationChangesInGoodwillAmountDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementOfCashFlowsAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statement of Cash Flows [Abstract]"
       }
      }
     },
     "localname": "StatementOfCashFlowsAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementOfFinancialPositionAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statement of Financial Position [Abstract]"
       }
      }
     },
     "localname": "StatementOfFinancialPositionAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statement of Comprehensive Income [Abstract]"
       }
      }
     },
     "localname": "StatementOfIncomeAndComprehensiveIncomeAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementOfStockholdersEquityAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Statement of Stockholders' Equity [Abstract]"
       }
      }
     },
     "localname": "StatementOfStockholdersEquityAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementTable": {
     "auth_ref": [
      "r128",
      "r129",
      "r130",
      "r162",
      "r551"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Schedule reflecting a Statement of Income, Statement of Cash Flows, Statement of Financial Position, Statement of Shareholders' Equity and Other Comprehensive Income, or other statement as needed.",
        "label": "Statement [Table]",
        "terseLabel": "Statement [Table]"
       }
      }
     },
     "localname": "StatementTable",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/ConsolidatedStatementOfComprehensiveIncome",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfCashFlows",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfOperations",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity",
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/LeasesDetails",
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails",
      "http://www.vailresorts.com/role/SelectedQuarterlyFinancialDataDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationComponentsOfAccountsPayableAndAccruedLiabilitiesDetails",
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformationCompositionOfGoodwillAndIntangibleAssetsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StockAppreciationRightsSARSMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Right to receive cash or shares equal to appreciation of predetermined number of grantor's shares during predetermined time period.",
        "label": "Stock Appreciation Rights (SARs) [Member]",
        "terseLabel": "Stock Appreciation Rights (SARs) [Member]"
       }
      }
     },
     "localname": "StockAppreciationRightsSARSMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockCompensationPlanNarrativeDetails",
      "http://www.vailresorts.com/role/StockCompensationPlanScheduleOfShareBasedCompensationSarsActivityDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation": {
     "auth_ref": [
      "r347",
      "r383"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Value, after forfeiture, of shares granted under share-based payment arrangement. Excludes employee stock ownership plan (ESOP).",
        "label": "Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture",
        "verboseLabel": "Stock-based compensation (Note 17)"
       }
      }
     },
     "localname": "StockGrantedDuringPeriodValueSharebasedCompensation",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_StockIssuedDuringPeriodSharesNewIssues": {
     "auth_ref": [
      "r23",
      "r24",
      "r298",
      "r303"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of new stock issued during the period.",
        "label": "Stock Issued During Period, Shares, New Issues",
        "terseLabel": "Stock Issued During Period, Shares, New Issues"
       }
      }
     },
     "localname": "StockIssuedDuringPeriodSharesNewIssues",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation": {
     "auth_ref": [
      "r23",
      "r24",
      "r303",
      "r350",
      "r362"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Value, after forfeiture, of shares issued under share-based payment arrangement. Excludes employee stock ownership plan (ESOP).",
        "label": "Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture",
        "negatedTerseLabel": "Issuance of shares under share award plan, net of shares withheld for employee taxes (Note 17)"
       }
      }
     },
     "localname": "StockIssuedDuringPeriodValueShareBasedCompensation",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan.",
        "label": "Stock Repurchase Program, Number of Shares Authorized to be Repurchased",
        "verboseLabel": "Number of shares authorized to repurchase"
       }
      }
     },
     "localname": "StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The remaining number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan.",
        "label": "Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased",
        "verboseLabel": "Remaining shares available for repurchase under existing program"
       }
      }
     },
     "localname": "StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_StockRepurchasedDuringPeriodValue": {
     "auth_ref": [
      "r23",
      "r24",
      "r298",
      "r303"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.",
        "label": "Stock Repurchased During Period, Value",
        "negatedTerseLabel": "Repurchases of common stock (Note 16)"
       }
      }
     },
     "localname": "StockRepurchasedDuringPeriodValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_StockholdersEquity": {
     "auth_ref": [
      "r24",
      "r29",
      "r30",
      "r117",
      "r218",
      "r223",
      "r486"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 1.0,
       "parentTag": "us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.",
        "label": "Stockholders' Equity Attributable to Parent",
        "totalLabel": "Total Vail Resorts, Inc. stockholders\u2019 equity"
       }
      }
     },
     "localname": "StockholdersEquity",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest": {
     "auth_ref": [
      "r117",
      "r128",
      "r129",
      "r130",
      "r132",
      "r138",
      "r223",
      "r226",
      "r303",
      "r376",
      "r377",
      "r378",
      "r417",
      "r418",
      "r450",
      "r451",
      "r465",
      "r486",
      "r492",
      "r493",
      "r497",
      "r618",
      "r619"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 4.0,
       "parentTag": "us-gaap_LiabilitiesAndStockholdersEquity",
       "weight": 1.0
      }
     },
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.",
        "label": "Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest",
        "periodEndLabel": "Balance",
        "periodStartLabel": "Balance",
        "totalLabel": "Total stockholders\u2019 equity"
       }
      }
     },
     "localname": "StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "label": "Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]",
        "terseLabel": "Stockholders\u2019 equity:"
       }
      }
     },
     "localname": "StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_SubsegmentsAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by business subsegments.",
        "label": "Subsegments [Axis]",
        "terseLabel": "Subsegments [Axis]"
       }
      }
     },
     "localname": "SubsegmentsAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_SubsegmentsConsolidationItemsAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by subsegments, eliminations and reconciling items used in consolidating a reportable segment and its subsegments.",
        "label": "Subsegments Consolidation Items [Axis]",
        "terseLabel": "Subsegments Consolidation Items [Axis]"
       }
      }
     },
     "localname": "SubsegmentsConsolidationItemsAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_SubsegmentsConsolidationItemsDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Subsegments, eliminations and reconciling items used in consolidating a reportable segment and its subsegments.",
        "label": "Subsegments Consolidation Items [Domain]",
        "terseLabel": "Subsegments Consolidation Items [Domain]"
       }
      }
     },
     "localname": "SubsegmentsConsolidationItemsDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_SubsegmentsDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Divisions of a component of an entity that engage in business activities from which they may earn revenue and incur expenses, including transactions with other components of the same entity.",
        "label": "Subsegments [Domain]",
        "terseLabel": "Subsegments [Domain]"
       }
      }
     },
     "localname": "SubsegmentsDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SegmentInformationGeographicInformationDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_SummaryOfIncomeTaxContingenciesTextBlock": {
     "auth_ref": [
      "r397",
      "r402",
      "r404"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.",
        "label": "Summary of Income Tax Contingencies [Table Text Block]",
        "terseLabel": "Reconciliation Of Unrecognized Tax Benefits"
       }
      }
     },
     "localname": "SummaryOfIncomeTaxContingenciesTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesTables"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_SupplementalBalanceSheetDisclosuresTextBlock": {
     "auth_ref": [
      "r59"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.",
        "label": "Supplemental Balance Sheet Disclosures [Text Block]",
        "terseLabel": "Supplementary Balance Sheet Information"
       }
      }
     },
     "localname": "SupplementalBalanceSheetDisclosuresTextBlock",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SupplementaryBalanceSheetInformation"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_TradeAndOtherAccountsReceivablePolicy": {
     "auth_ref": [
      "r212",
      "r213",
      "r214",
      "r215",
      "r217",
      "r219"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for accounts receivable.",
        "label": "Accounts Receivable [Policy Text Block]",
        "terseLabel": "Accounts Receivable"
       }
      }
     },
     "localname": "TradeAndOtherAccountsReceivablePolicy",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit": {
     "auth_ref": [
      "r62",
      "r63",
      "r495"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of income tax expense (benefit) from translating foreign currency financial statements into the reporting currency.",
        "label": "Translation Adjustment Functional to Reporting Currency, Tax Expense (Benefit)",
        "terseLabel": "Translation Adjustment Functional to Reporting Currency, Tax Benefit (Expense)"
       }
      }
     },
     "localname": "TranslationAdjustmentFunctionalToReportingCurrencyTaxExpenseBenefit",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfComprehensiveIncomeConsolidatedStatementsOfComprehensiveIncomeParenthetical"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_TreasuryStockMember": {
     "auth_ref": [
      "r52",
      "r305"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Shares of an entity that have been repurchased by the entity. This stock has no voting rights and receives no dividends. Note that treasury stock may be recorded at its total cost or separately as par (or stated) value and additional paid in capital. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.",
        "label": "Treasury Stock [Member]",
        "terseLabel": "Treasury Stock [Member]"
       }
      }
     },
     "localname": "TreasuryStockMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedStatementsOfStockholdersEquity"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_TreasuryStockShares": {
     "auth_ref": [
      "r52",
      "r305"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.",
        "label": "Treasury Stock, Shares",
        "terseLabel": "Treasury stock, shares",
        "verboseLabel": "Number of shares repurchased since inception"
       }
      }
     },
     "localname": "TreasuryStockShares",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheetsParenthetical",
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_TreasuryStockSharesAcquired": {
     "auth_ref": [
      "r24",
      "r298",
      "r303"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of shares that have been repurchased during the period and are being held in treasury.",
        "label": "Treasury Stock, Shares, Acquired",
        "terseLabel": "Treasury Stock, Shares, Acquired"
       }
      }
     },
     "localname": "TreasuryStockSharesAcquired",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_TreasuryStockValue": {
     "auth_ref": [
      "r52",
      "r305",
      "r308"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets": {
       "order": 6.0,
       "parentTag": "us-gaap_StockholdersEquity",
       "weight": -1.0
      }
     },
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.",
        "label": "Treasury Stock, Value",
        "negatedTerseLabel": "Treasury stock, at cost; 6,161 and 5,905 shares, respectively (Note 16)",
        "terseLabel": "Value of stock repurchased since inception"
       }
      }
     },
     "localname": "TreasuryStockValue",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/ConsolidatedBalanceSheets",
      "http://www.vailresorts.com/role/StockRepurchasePlanDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UnrecognizedTaxBenefits": {
     "auth_ref": [
      "r388",
      "r399"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of unrecognized tax benefits.",
        "label": "Unrecognized Tax Benefits",
        "periodEndLabel": "Unrecognized tax benefits, ending balance",
        "periodStartLabel": "Unrecognized tax benefits, beginning balance"
       }
      }
     },
     "localname": "UnrecognizedTaxBenefits",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued": {
     "auth_ref": [
      "r396"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return.",
        "label": "Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued",
        "verboseLabel": "Unrecognized tax benefits, income tax penalties and interest accrued"
       }
      }
     },
     "localname": "UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense": {
     "auth_ref": [
      "r396"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of expense for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return.",
        "label": "Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense",
        "terseLabel": "Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense"
       }
      }
     },
     "localname": "UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions": {
     "auth_ref": [
      "r400"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.",
        "label": "Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions",
        "terseLabel": "Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions",
        "verboseLabel": "Additions for tax positions of prior years"
       }
      }
     },
     "localname": "UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations": {
     "auth_ref": [
      "r401"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations.",
        "label": "Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations",
        "negatedLabel": "Lapse of statute of limitations",
        "terseLabel": "Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations"
       }
      }
     },
     "localname": "UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails",
      "http://www.vailresorts.com/role/IncomeTaxesReconciliationOfUnrecognizedTaxBenefitsDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_UseOfEstimates": {
     "auth_ref": [
      "r166",
      "r167",
      "r168",
      "r169",
      "r170",
      "r171",
      "r172"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.",
        "label": "Use of Estimates, Policy [Policy Text Block]",
        "terseLabel": "Use of Estimates, Policy [Policy Text Block]"
       }
      }
     },
     "localname": "UseOfEstimates",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesPolicies"
     ],
     "xbrltype": "textBlockItemType"
    },
    "us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount": {
     "auth_ref": [
      "r408"
     ],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset.",
        "label": "Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount",
        "terseLabel": "Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount"
       }
      }
     },
     "localname": "ValuationAllowanceDeferredTaxAssetChangeInAmount",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/IncomeTaxesNarrativeDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_VariableLeaseCost": {
     "auth_ref": [
      "r522",
      "r529"
     ],
     "crdr": "debit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Amount of variable lease cost, excluded from lease liability, recognized when obligation for payment is incurred for finance and operating leases.",
        "label": "Variable Lease, Cost",
        "terseLabel": "Variable Lease, Cost"
       }
      }
     },
     "localname": "VariableLeaseCost",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LeasesDetails"
     ],
     "xbrltype": "monetaryItemType"
    },
    "us-gaap_VariableRateAxis": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Information by type of variable rate.",
        "label": "Variable Rate [Axis]",
        "terseLabel": "Variable Rate [Axis]"
       }
      }
     },
     "localname": "VariableRateAxis",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_VariableRateDomain": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Interest rate that fluctuates over time as a result of an underlying benchmark interest rate or index.",
        "label": "Variable Rate [Domain]",
        "terseLabel": "Variable Rate [Domain]"
       }
      }
     },
     "localname": "VariableRateDomain",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/LongTermDebtScheduleOfDebtInstrumentsDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_VehiclesMember": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Equipment used primarily for road transportation.",
        "label": "Vehicles [Member]",
        "terseLabel": "Vehicles [Member]"
       }
      }
     },
     "localname": "VehiclesMember",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/SummaryOfSignificantAccountingPoliciesSummaryOnEstimatedUsefulLifeOfPropertyPlantAndEquipmentDetails"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment": {
     "auth_ref": [
      "r150"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails": {
       "order": 2.0,
       "parentTag": "us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.",
        "label": "Weighted Average Number Diluted Shares Outstanding Adjustment",
        "verboseLabel": "Effect of dilutive securities, diluted (in shares)"
       }
      }
     },
     "localname": "WeightedAverageNumberDilutedSharesOutstandingAdjustment",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding": {
     "auth_ref": [
      "r143",
      "r150"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails": {
       "order": null,
       "parentTag": null,
       "root": true,
       "weight": null
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.",
        "label": "Weighted Average Number of Shares Outstanding, Diluted",
        "totalLabel": "Weighted-average shares outstanding, diluted (in shares)"
       }
      }
     },
     "localname": "WeightedAverageNumberOfDilutedSharesOutstanding",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    },
    "us-gaap_WeightedAverageNumberOfSharesOutstandingBasic": {
     "auth_ref": [
      "r142",
      "r150"
     ],
     "calculation": {
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails": {
       "order": 1.0,
       "parentTag": "us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding",
       "weight": 1.0
      }
     },
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.",
        "label": "Weighted Average Number of Shares Outstanding, Basic",
        "verboseLabel": "Weighted-average shares outstanding, basic (in shares)"
       }
      }
     },
     "localname": "WeightedAverageNumberOfSharesOutstandingBasic",
     "nsuri": "http://fasb.org/us-gaap/2020-01-31",
     "presentation": [
      "http://www.vailresorts.com/role/NetIncomePerCommonShareDetails"
     ],
     "xbrltype": "sharesItemType"
    }
   },
   "unitCount": 8
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)",
   "Topic": "205",
   "URI": "http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760"
  },
  "r1": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "205",
   "URI": "http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760"
  },
  "r10": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6911-107765"
  },
  "r100": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(g)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3536-108585"
  },
  "r101": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3536-108585"
  },
  "r102": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585"
  },
  "r103": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585"
  },
  "r104": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3602-108585"
  },
  "r105": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3044-108585"
  },
  "r106": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=d3e4273-108586"
  },
  "r107": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=d3e4297-108586"
  },
  "r108": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=d3e4304-108586"
  },
  "r109": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=d3e4313-108586"
  },
  "r11": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6935-107765"
  },
  "r110": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=d3e4332-108586"
  },
  "r111": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121583591&loc=SL98516268-108586"
  },
  "r112": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "230",
   "URI": "http://asc.fasb.org/topic&trid=2134446"
  },
  "r113": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790"
  },
  "r114": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790"
  },
  "r115": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790"
  },
  "r116": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08(d))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r117": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08(g)(1)(ii))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r118": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08(h))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r119": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08(k))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r12": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e7018-107765"
  },
  "r120": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08.(e),(f))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r121": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08.(f))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r122": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08.(h)(1)(i))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r123": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.4-08.(h))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690"
  },
  "r124": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.12-04(a))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690"
  },
  "r125": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.12-04.(a))",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690"
  },
  "r126": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.12-09)",
   "Topic": "235",
   "URI": "http://asc.fasb.org/extlink&oid=120395691&loc=d3e24092-122690"
  },
  "r127": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "235",
   "URI": "http://asc.fasb.org/topic&trid=2122369"
  },
  "r128": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "23",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=115929471&loc=d3e21914-107793"
  },
  "r129": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "24",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=115929471&loc=d3e21930-107793"
  },
  "r13": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766"
  },
  "r130": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=115929471&loc=d3e21711-107793"
  },
  "r131": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)(2)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794"
  },
  "r132": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)(3)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794"
  },
  "r133": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794"
  },
  "r134": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794"
  },
  "r135": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794"
  },
  "r136": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794"
  },
  "r137": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794"
  },
  "r138": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794"
  },
  "r139": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794"
  },
  "r14": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(1))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r140": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "250",
   "URI": "http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794"
  },
  "r141": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "250",
   "URI": "http://asc.fasb.org/topic&trid=2122394"
  },
  "r142": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256"
  },
  "r143": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "16",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e1505-109256"
  },
  "r144": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256"
  },
  "r145": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e1278-109256"
  },
  "r146": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "55",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e2626-109256"
  },
  "r147": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "60B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256"
  },
  "r148": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "60B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256"
  },
  "r149": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256"
  },
  "r15": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(13))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r150": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257"
  },
  "r151": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257"
  },
  "r152": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257"
  },
  "r153": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537"
  },
  "r154": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258"
  },
  "r155": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "52",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "260",
   "URI": "http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258"
  },
  "r156": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "260",
   "URI": "http://asc.fasb.org/topic&trid=2144383"
  },
  "r157": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "270",
   "URI": "http://asc.fasb.org/extlink&oid=116846552&loc=d3e777-108305"
  },
  "r158": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "270",
   "URI": "http://asc.fasb.org/extlink&oid=116846552&loc=d3e543-108305"
  },
  "r159": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "270",
   "URI": "http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306"
  },
  "r16": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(14))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r160": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "270",
   "URI": "http://asc.fasb.org/extlink&oid=121640914&loc=d3e1570-108306"
  },
  "r161": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "270",
   "URI": "http://asc.fasb.org/topic&trid=2126967"
  },
  "r162": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "272",
   "URI": "http://asc.fasb.org/extlink&oid=6828210&loc=d3e70191-108054"
  },
  "r163": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "272",
   "URI": "http://asc.fasb.org/extlink&oid=6828210&loc=d3e70229-108054"
  },
  "r164": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "272",
   "URI": "http://asc.fasb.org/extlink&oid=6373374&loc=d3e70434-108055"
  },
  "r165": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "272",
   "URI": "http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055"
  },
  "r166": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592"
  },
  "r167": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592"
  },
  "r168": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e6161-108592"
  },
  "r169": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e6191-108592"
  },
  "r17": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(19))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r170": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e6061-108592"
  },
  "r171": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e6132-108592"
  },
  "r172": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "275",
   "URI": "http://asc.fasb.org/extlink&oid=99393423&loc=d3e6143-108592"
  },
  "r173": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599"
  },
  "r174": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "21",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599"
  },
  "r175": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "21",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599"
  },
  "r176": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r177": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r178": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r179": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r18": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(20))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r180": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r181": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r182": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(g)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r183": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(h)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r184": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(j)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r185": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "22",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599"
  },
  "r186": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599"
  },
  "r187": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599"
  },
  "r188": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599"
  },
  "r189": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "26",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599"
  },
  "r19": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(22))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r190": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "30",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599"
  },
  "r191": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "30",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599"
  },
  "r192": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "30",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599"
  },
  "r193": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "30",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599"
  },
  "r194": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "30",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599"
  },
  "r195": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "31",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599"
  },
  "r196": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r197": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r198": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r199": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r2": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "205",
   "URI": "http://asc.fasb.org/topic&trid=2122149"
  },
  "r20": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(26)(a))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r200": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r201": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "32",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599"
  },
  "r202": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "34",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599"
  },
  "r203": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "40",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599"
  },
  "r204": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "41",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599"
  },
  "r205": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "41",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599"
  },
  "r206": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "41",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "a",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599"
  },
  "r207": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "41",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599"
  },
  "r208": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "42",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "280",
   "URI": "http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599"
  },
  "r209": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "280",
   "URI": "http://asc.fasb.org/topic&trid=2134510"
  },
  "r21": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(26)(b))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r210": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121593590&loc=d3e4428-111522"
  },
  "r211": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121593590&loc=d3e4531-111522"
  },
  "r212": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=d3e4975-111524"
  },
  "r213": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11B",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524"
  },
  "r214": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=d3e5212-111524"
  },
  "r215": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=d3e5033-111524"
  },
  "r216": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=d3e5074-111524"
  },
  "r217": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=121611835&loc=d3e5093-111524"
  },
  "r218": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 4.E)",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707"
  },
  "r219": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "310",
   "URI": "http://asc.fasb.org/extlink&oid=84159169&loc=d3e10133-111534"
  },
  "r22": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(27))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r220": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "323",
   "URI": "http://asc.fasb.org/extlink&oid=109237563&loc=d3e33749-111570"
  },
  "r221": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(1)",
   "Topic": "323",
   "URI": "http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571"
  },
  "r222": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(b)",
   "Topic": "323",
   "URI": "http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571"
  },
  "r223": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "323",
   "URI": "http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571"
  },
  "r224": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "323",
   "URI": "http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571"
  },
  "r225": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "323",
   "URI": "http://asc.fasb.org/topic&trid=2196965"
  },
  "r226": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "326",
   "URI": "http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437"
  },
  "r227": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "326",
   "URI": "http://asc.fasb.org/extlink&oid=121599878&loc=SL82895884-210446"
  },
  "r228": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "20",
   "Subparagraph": "(e)(1)",
   "Topic": "326",
   "URI": "http://asc.fasb.org/extlink&oid=121647567&loc=SL82921835-210448"
  },
  "r229": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "20",
   "Subparagraph": "(e)(2)",
   "Topic": "326",
   "URI": "http://asc.fasb.org/extlink&oid=121647567&loc=SL82921835-210448"
  },
  "r23": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(28))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r230": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "330",
   "URI": "http://asc.fasb.org/extlink&oid=116847112&loc=d3e4492-108314"
  },
  "r231": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "330",
   "URI": "http://asc.fasb.org/extlink&oid=116847112&loc=d3e4556-108314"
  },
  "r232": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB TOPIC 5.BB)",
   "Topic": "330",
   "URI": "http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729"
  },
  "r233": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "330",
   "URI": "http://asc.fasb.org/topic&trid=2126998"
  },
  "r234": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "40",
   "Subparagraph": "(a)",
   "Topic": "340",
   "URI": "http://asc.fasb.org/extlink&oid=68051541&loc=SL49131252-203054"
  },
  "r235": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "40",
   "Subparagraph": "(b)",
   "Topic": "340",
   "URI": "http://asc.fasb.org/extlink&oid=68051541&loc=SL49131252-203054"
  },
  "r236": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=99380562&loc=d3e13770-109266"
  },
  "r237": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=99380562&loc=d3e13777-109266"
  },
  "r238": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=120320667&loc=SL49117168-202975"
  },
  "r239": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r24": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(29))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r240": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r241": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(e)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r242": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(f)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r243": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(g)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r244": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(h)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r245": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267"
  },
  "r246": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267"
  },
  "r247": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267"
  },
  "r248": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=6388964&loc=d3e16212-109274"
  },
  "r249": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274"
  },
  "r25": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(3))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r250": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275"
  },
  "r251": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(b)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275"
  },
  "r252": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(d)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275"
  },
  "r253": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275"
  },
  "r254": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "((a)(1),(b))",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r255": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r256": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)(1)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r257": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)(2)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r258": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)(3)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r259": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(b)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r26": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(30)(a)(1))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r260": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(d)",
   "Topic": "350",
   "URI": "http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275"
  },
  "r261": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "05",
   "SubTopic": "10",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226317&loc=d3e202-110218"
  },
  "r262": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226348&loc=d3e2420-110228"
  },
  "r263": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226348&loc=d3e2443-110228"
  },
  "r264": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229"
  },
  "r265": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229"
  },
  "r266": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229"
  },
  "r267": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229"
  },
  "r268": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230"
  },
  "r269": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230"
  },
  "r27": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(30)(a)(3))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r270": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230"
  },
  "r271": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 5.CC)",
   "Topic": "360",
   "URI": "http://asc.fasb.org/extlink&oid=27011434&loc=d3e125687-122742"
  },
  "r272": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "410",
   "URI": "http://asc.fasb.org/extlink&oid=6392676&loc=d3e7480-110848"
  },
  "r273": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "35",
   "SubTopic": "10",
   "Topic": "420",
   "URI": "http://asc.fasb.org/extlink&oid=6394232&loc=d3e17558-110866"
  },
  "r274": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "420",
   "URI": "http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869"
  },
  "r275": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 5.P.4(d))",
   "Topic": "420",
   "URI": "http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747"
  },
  "r276": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "440",
   "URI": "http://asc.fasb.org/extlink&oid=121559207&loc=d3e25336-109308"
  },
  "r277": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "440",
   "URI": "http://asc.fasb.org/extlink&oid=121559207&loc=d3e25336-109308"
  },
  "r278": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "440",
   "URI": "http://asc.fasb.org/topic&trid=2144648"
  },
  "r279": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349"
  },
  "r28": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(30)(a)(4))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r280": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349"
  },
  "r281": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349"
  },
  "r282": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349"
  },
  "r283": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349"
  },
  "r284": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349"
  },
  "r285": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "450",
   "URI": "http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349"
  },
  "r286": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "450",
   "URI": "http://asc.fasb.org/topic&trid=2127136"
  },
  "r287": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "460",
   "URI": "http://asc.fasb.org/extlink&oid=121555522&loc=d3e12021-110248"
  },
  "r288": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "460",
   "URI": "http://asc.fasb.org/extlink&oid=121555522&loc=d3e12053-110248"
  },
  "r289": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=99376301&loc=SL5988623-112600"
  },
  "r29": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(30))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r290": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601"
  },
  "r291": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=6802200&loc=SL6230698-112601"
  },
  "r292": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(1)",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870"
  },
  "r293": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(2)",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870"
  },
  "r294": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(3)",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870"
  },
  "r295": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870"
  },
  "r296": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "470",
   "URI": "http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870"
  },
  "r297": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "470",
   "URI": "http://asc.fasb.org/topic&trid=2208564"
  },
  "r298": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644"
  },
  "r299": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644"
  },
  "r3": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6676-107765"
  },
  "r30": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(31))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r300": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644"
  },
  "r301": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644"
  },
  "r302": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644"
  },
  "r303": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.3-04)",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770"
  },
  "r304": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "25",
   "SubTopic": "30",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653"
  },
  "r305": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=6405813&loc=d3e23239-112655"
  },
  "r306": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656"
  },
  "r307": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=6405834&loc=d3e23309-112656"
  },
  "r308": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Topic": "505",
   "URI": "http://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656"
  },
  "r309": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121556615&loc=SL49130531-203044"
  },
  "r31": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(32))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r310": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121556615&loc=SL49130532-203044"
  },
  "r311": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045"
  },
  "r312": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045"
  },
  "r313": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045"
  },
  "r314": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045"
  },
  "r315": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045"
  },
  "r316": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045"
  },
  "r317": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)(2)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045"
  },
  "r318": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045"
  },
  "r319": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045"
  },
  "r32": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(4)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r320": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130549-203045"
  },
  "r321": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130549-203045"
  },
  "r322": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045"
  },
  "r323": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r324": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r325": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r326": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r327": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r328": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r329": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "91",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(g)",
   "Topic": "606",
   "URI": "http://asc.fasb.org/extlink&oid=121551570&loc=SL49130690-203046-203046"
  },
  "r33": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02(5))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r330": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "606",
   "URI": "http://asc.fasb.org/topic&trid=49130388"
  },
  "r331": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(i)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r332": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(ii)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r333": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(01)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r334": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(02)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r335": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(02)(A)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r336": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(02)(B)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r337": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(02)(C)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r338": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)(iv)(03)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r339": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(n)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920"
  },
  "r34": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.1)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r340": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "20",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921"
  },
  "r341": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "70",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942"
  },
  "r342": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "80",
   "Subparagraph": "(a)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947"
  },
  "r343": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "80",
   "Subparagraph": "(d)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947"
  },
  "r344": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "80",
   "Subparagraph": "(f)(3)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947"
  },
  "r345": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "80",
   "Subparagraph": "(a)",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=65877416&loc=SL14450673-114947"
  },
  "r346": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "80",
   "Topic": "715",
   "URI": "http://asc.fasb.org/extlink&oid=35742348&loc=SL14450788-114948"
  },
  "r347": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "30",
   "SubTopic": "10",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121321822&loc=d3e3913-113898"
  },
  "r348": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901"
  },
  "r349": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901"
  },
  "r35": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.12)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r350": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901"
  },
  "r351": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901"
  },
  "r352": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r353": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(3)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r354": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a),(g)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r355": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b),(f)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r356": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r357": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r358": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(1)(iv)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r359": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r36": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.13(a))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r360": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(2)(iii)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r361": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r362": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r363": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r364": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r365": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r366": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r367": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r368": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)(2)(i)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r369": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)(2)(ii)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r37": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.13)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r370": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)(2)(iii)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r371": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(h)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r372": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(h)(1)(i)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r373": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(i)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r374": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901"
  },
  "r375": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120381028&loc=SL79508275-113901"
  },
  "r376": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333"
  },
  "r377": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(f)(1)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333"
  },
  "r378": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(f)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333"
  },
  "r379": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(g)(2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333"
  },
  "r38": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.14)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r380": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 14.D.2)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809"
  },
  "r381": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 14.F)",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809"
  },
  "r382": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "24",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "20",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120383193&loc=d3e11374-113907"
  },
  "r383": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "35",
   "SubTopic": "30",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=121323062&loc=d3e15009-113911"
  },
  "r384": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "35",
   "SubTopic": "740",
   "Topic": "718",
   "URI": "http://asc.fasb.org/extlink&oid=120384911&loc=d3e23163-113944"
  },
  "r385": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "718",
   "URI": "http://asc.fasb.org/topic&trid=2228938"
  },
  "r386": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "35",
   "Subparagraph": "(a)",
   "Topic": "720",
   "URI": "http://asc.fasb.org/extlink&oid=6420018&loc=d3e36677-107848"
  },
  "r387": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "35",
   "Subparagraph": "(b)",
   "Topic": "720",
   "URI": "http://asc.fasb.org/extlink&oid=6420018&loc=d3e36677-107848"
  },
  "r388": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120406818&loc=SL37586934-109318"
  },
  "r389": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120406818&loc=d3e32247-109318"
  },
  "r39": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.17)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r390": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120406818&loc=d3e32280-109318"
  },
  "r391": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120406818&loc=d3e31917-109318"
  },
  "r392": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120406818&loc=d3e31931-109318"
  },
  "r393": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32672-109319"
  },
  "r394": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319"
  },
  "r395": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319"
  },
  "r396": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319"
  },
  "r397": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319"
  },
  "r398": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319"
  },
  "r399": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319"
  },
  "r4": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6676-107765"
  },
  "r40": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.19(a))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r400": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(1)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319"
  },
  "r401": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(4)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319"
  },
  "r402": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319"
  },
  "r403": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319"
  },
  "r404": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "19",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319"
  },
  "r405": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319"
  },
  "r406": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319"
  },
  "r407": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319"
  },
  "r408": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319"
  },
  "r409": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32847-109319"
  },
  "r41": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.19(b),22(b))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r410": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "21",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319"
  },
  "r411": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319"
  },
  "r412": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32621-109319"
  },
  "r413": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32632-109319"
  },
  "r414": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319"
  },
  "r415": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319"
  },
  "r416": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "9",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319"
  },
  "r417": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(d)(2)",
   "Topic": "740"
  },
  "r418": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "10",
   "Subparagraph": "(d)(3)",
   "Topic": "740"
  },
  "r419": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB TOPIC 6.I.5.Q1)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r42": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.19,20)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r420": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB TOPIC 6.I.7)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r421": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 6.I.7)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r422": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 6.I.Fact.1)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r423": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 6.I.Fact.2)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r424": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 6.I.Fact.3)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r425": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 6.I.Fact.4)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817"
  },
  "r426": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 11.C)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817"
  },
  "r427": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=120385591&loc=d3e38679-109324"
  },
  "r428": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "270",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338"
  },
  "r429": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)",
   "Topic": "740",
   "URI": "http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331"
  },
  "r43": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.19-26)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r430": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "740",
   "URI": "http://asc.fasb.org/topic&trid=2144680"
  },
  "r431": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "16",
   "Publisher": "FASB",
   "Section": "25",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=116868678&loc=d3e961-128460"
  },
  "r432": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "25",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=116868678&loc=d3e845-128460"
  },
  "r433": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "25",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=116868678&loc=d3e848-128460"
  },
  "r434": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463"
  },
  "r435": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463"
  },
  "r436": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(h)(2)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463"
  },
  "r437": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(h)(3)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463"
  },
  "r438": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463"
  },
  "r439": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463"
  },
  "r44": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.20)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r440": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "37",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=121600890&loc=d3e2207-128464"
  },
  "r441": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472"
  },
  "r442": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472"
  },
  "r443": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7",
   "Publisher": "FASB",
   "Section": "30",
   "SubTopic": "30",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=116859721&loc=d3e6578-128477"
  },
  "r444": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "30",
   "SubTopic": "30",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=116859721&loc=d3e6613-128477"
  },
  "r445": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(b)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479"
  },
  "r446": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(b)(2)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479"
  },
  "r447": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(c)(2)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479"
  },
  "r448": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(a)(1)",
   "Topic": "805",
   "URI": "http://asc.fasb.org/extlink&oid=120321790&loc=d3e7008-128479"
  },
  "r449": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "805",
   "URI": "http://asc.fasb.org/topic&trid=2303972"
  },
  "r45": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.21)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r450": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=108774443&loc=SL4568447-111683"
  },
  "r451": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "16",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=108774443&loc=SL4568740-111683"
  },
  "r452": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "19",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683"
  },
  "r453": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=108774443&loc=SL4569643-111683"
  },
  "r454": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "21",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=108774443&loc=SL4613674-111683"
  },
  "r455": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988"
  },
  "r456": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988"
  },
  "r457": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=d3e5614-111684"
  },
  "r458": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(1)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684"
  },
  "r459": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)(2)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684"
  },
  "r46": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.22(a)(1))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r460": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(1)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684"
  },
  "r461": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(3)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684"
  },
  "r462": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c),(3)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684"
  },
  "r463": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(bb)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685"
  },
  "r464": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685"
  },
  "r465": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4I",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686"
  },
  "r466": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4J",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686"
  },
  "r467": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4K",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Topic": "810",
   "URI": "http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686"
  },
  "r468": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "810",
   "URI": "http://asc.fasb.org/topic&trid=2197479"
  },
  "r469": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "815",
   "URI": "http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959"
  },
  "r47": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.22(a)(2))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r470": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4B",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)(1)",
   "Topic": "815",
   "URI": "http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959"
  },
  "r471": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4B",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "815",
   "URI": "http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959"
  },
  "r472": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4D",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "815",
   "URI": "http://asc.fasb.org/extlink&oid=121590274&loc=SL5624177-113959"
  },
  "r473": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "25",
   "Subparagraph": "(a)(1)",
   "Topic": "815",
   "URI": "http://asc.fasb.org/extlink&oid=121577467&loc=d3e76258-113986"
  },
  "r474": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "815",
   "URI": "http://asc.fasb.org/topic&trid=2229140"
  },
  "r475": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r476": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r477": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(bb)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r478": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(bbb)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r479": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(bbb)(2)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r48": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.22(b))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r480": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r481": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258"
  },
  "r482": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258"
  },
  "r483": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "60",
   "SubTopic": "10",
   "Topic": "820",
   "URI": "http://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260"
  },
  "r484": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "825",
   "URI": "http://asc.fasb.org/extlink&oid=121572278&loc=d3e13279-108611"
  },
  "r485": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "825",
   "URI": "http://asc.fasb.org/extlink&oid=121572278&loc=d3e13433-108611"
  },
  "r486": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "825",
   "URI": "http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612"
  },
  "r487": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=120253306&loc=d3e28228-110885"
  },
  "r488": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "35",
   "SubTopic": "20",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=121605123&loc=d3e30226-110892"
  },
  "r489": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=109240200&loc=d3e30690-110894"
  },
  "r49": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.22)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r490": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895"
  },
  "r491": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "230",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=98513438&loc=d3e33268-110906"
  },
  "r492": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900"
  },
  "r493": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Subparagraph": "(a)",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900"
  },
  "r494": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Subparagraph": "(b)",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900"
  },
  "r495": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Subparagraph": "(c)",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900"
  },
  "r496": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Subparagraph": "(d)",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900"
  },
  "r497": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Topic": "830",
   "URI": "http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901"
  },
  "r498": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "830",
   "URI": "http://asc.fasb.org/topic&trid=2175825"
  },
  "r499": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "15",
   "SubTopic": "20",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=6450852&loc=d3e24871-108386"
  },
  "r5": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6676-107765"
  },
  "r50": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.24)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r500": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391"
  },
  "r501": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399"
  },
  "r502": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399"
  },
  "r503": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=119993939&loc=d3e28555-108399"
  },
  "r504": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "30",
   "Topic": "835",
   "URI": "http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400"
  },
  "r505": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "40",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "10",
   "Subparagraph": "(Note 3)",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697"
  },
  "r506": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121573735&loc=d3e41502-112717"
  },
  "r507": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "30",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121569800&loc=d3e45014-112735"
  },
  "r508": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "30",
   "Subparagraph": "(b)",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121616839&loc=d3e45280-112737"
  },
  "r509": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "50",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121602674&loc=d3e51831-112757"
  },
  "r51": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.25)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r510": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "51",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121602674&loc=d3e51840-112757"
  },
  "r511": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "52",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Topic": "840",
   "URI": "http://asc.fasb.org/extlink&oid=121602674&loc=d3e51843-112757"
  },
  "r512": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "840",
   "URI": "http://asc.fasb.org/topic&trid=2208923"
  },
  "r513": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918627-209977"
  },
  "r514": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918627-209977"
  },
  "r515": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918631-209977"
  },
  "r516": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918638-209977"
  },
  "r517": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918638-209977"
  },
  "r518": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "20",
   "Subparagraph": "(c)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121603541&loc=SL77918643-209977"
  },
  "r519": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918666-209980"
  },
  "r52": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.29,30)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r520": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(a)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r521": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r522": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(d)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r523": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(g)(1)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r524": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(g)(2)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r525": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(g)(3)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r526": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(g)(4)",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r527": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980"
  },
  "r528": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980"
  },
  "r529": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "53",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "20",
   "Topic": "842",
   "URI": "http://asc.fasb.org/extlink&oid=121568110&loc=SL77918982-209971"
  },
  "r53": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.29-31)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r530": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864"
  },
  "r531": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864"
  },
  "r532": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864"
  },
  "r533": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864"
  },
  "r534": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864"
  },
  "r535": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864"
  },
  "r536": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "850",
   "URI": "http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864"
  },
  "r537": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "850",
   "URI": "http://asc.fasb.org/topic&trid=2122745"
  },
  "r538": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "852",
   "URI": "http://asc.fasb.org/extlink&oid=6462270&loc=d3e57205-112772"
  },
  "r539": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "855",
   "URI": "http://asc.fasb.org/extlink&oid=6842918&loc=SL6314020-165662"
  },
  "r54": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.31)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r540": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(bb)(1)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r541": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(bb)(2)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r542": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(bb)(3)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r543": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)(1)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r544": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)(2)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r545": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)(3)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107207-111719"
  },
  "r546": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(1)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719"
  },
  "r547": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(2)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719"
  },
  "r548": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(b)(3)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719"
  },
  "r549": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Subparagraph": "(c)",
   "Topic": "860",
   "URI": "http://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719"
  },
  "r55": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.6(a))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r550": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "910",
   "URI": "http://asc.fasb.org/extlink&oid=119991564&loc=SL119991595-234733"
  },
  "r551": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SAB Topic 11.L)",
   "Topic": "924",
   "URI": "http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856"
  },
  "r552": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "926",
   "URI": "http://asc.fasb.org/extlink&oid=120154696&loc=d3e54445-107959"
  },
  "r553": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "340",
   "Topic": "928",
   "URI": "http://asc.fasb.org/extlink&oid=6473545&loc=d3e61844-108004"
  },
  "r554": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(a)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e61929-109447"
  },
  "r555": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(b)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e61929-109447"
  },
  "r556": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(a)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62059-109447"
  },
  "r557": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "20",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(b)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62059-109447"
  },
  "r558": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(a)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62395-109447"
  },
  "r559": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "28",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(b)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62395-109447"
  },
  "r56": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.6(b))",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r560": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "33",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(a)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62479-109447"
  },
  "r561": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "33",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(b)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e62479-109447"
  },
  "r562": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "35A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(a)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=SL6807758-109447"
  },
  "r563": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "35A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(b)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=SL6807758-109447"
  },
  "r564": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(c)(1)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e61872-109447"
  },
  "r565": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "8",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "235",
   "Subparagraph": "(c)(2)",
   "Topic": "932",
   "URI": "http://asc.fasb.org/extlink&oid=68064819&loc=d3e61872-109447"
  },
  "r566": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "25",
   "SubTopic": "20",
   "Topic": "940",
   "URI": "http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953"
  },
  "r567": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(1)(a))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r568": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(10)(1))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r569": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(11))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r57": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.8)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r570": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(13))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r571": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(15)(1))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r572": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(15)(2))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r573": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(16))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r574": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(22))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r575": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03(23))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r576": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03.12)",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r577": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.9-03.17)",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878"
  },
  "r578": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(15))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r579": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(22))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r58": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-02.9)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682"
  },
  "r580": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(24))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r581": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(25))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r582": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(26))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r583": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04(27))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r584": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.9-04.9)",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260"
  },
  "r585": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "235",
   "Subparagraph": "(SX 210.9-05(b)(1))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884"
  },
  "r586": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "235",
   "Subparagraph": "(SX 210.9-05(b)(2))",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884"
  },
  "r587": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "405",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=6957935&loc=d3e64057-112817"
  },
  "r588": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "405",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818"
  },
  "r589": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "470",
   "Subparagraph": "(c)",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823"
  },
  "r59": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "Topic": "210",
   "URI": "http://asc.fasb.org/topic&trid=2122208"
  },
  "r590": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "470",
   "Subparagraph": "e",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823"
  },
  "r591": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "470",
   "Topic": "942",
   "URI": "http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823"
  },
  "r592": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(15)(b)(2))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r593": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(16))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r594": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(12))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r595": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(15)(b)(1))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r596": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(16))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r597": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(2))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r598": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(23)(a)(3))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r599": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(23)(a)(4))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r6": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6676-107765"
  },
  "r60": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669646-108580"
  },
  "r600": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(24))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r601": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(25))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r602": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03(a)(8))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r603": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "210",
   "Subparagraph": "(SX 210.7-03.(a),19)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910"
  },
  "r604": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(10))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r605": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(18))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r606": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(20))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r607": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(21))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r608": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(22))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r609": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(23))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r61": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "10A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669646-108580"
  },
  "r610": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(8))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r611": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.7-04(9))",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263"
  },
  "r612": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4H",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "40",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=116884468&loc=SL65671331-158438"
  },
  "r613": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "7A",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "40",
   "Subparagraph": "(d)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121643868&loc=SL117782755-158439"
  },
  "r614": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13H",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Subparagraph": "(a)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121639165&loc=SL117783719-158441"
  },
  "r615": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13H",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Subparagraph": "(b)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121639165&loc=SL117783719-158441"
  },
  "r616": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "29F",
   "Publisher": "FASB",
   "Section": "55",
   "SubTopic": "40",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121639165&loc=SL117819544-158441"
  },
  "r617": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(e)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r618": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(f)(1)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r619": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(f)(2)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r62": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "11",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=d3e637-108580"
  },
  "r620": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(g)(2)(i)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r621": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(g)(2)(ii)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r622": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "65",
   "SubTopic": "40",
   "Subparagraph": "(h)(2)",
   "Topic": "944",
   "URI": "http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641"
  },
  "r623": {
   "Name": "Accounting Standards Codification",
   "Publisher": "FASB",
   "SubTopic": "40",
   "Topic": "944",
   "URI": "http://asc.fasb.org/subtopic&trid=2560295"
  },
  "r624": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "220",
   "Subparagraph": "(SX 210.6-07.1(c))",
   "Topic": "946",
   "URI": "http://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272"
  },
  "r625": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "310",
   "Subparagraph": "(SX 210.12-29(Footnote 4))",
   "Topic": "948",
   "URI": "http://asc.fasb.org/extlink&oid=120402547&loc=d3e617274-123014"
  },
  "r626": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "740",
   "Topic": "954",
   "URI": "http://asc.fasb.org/extlink&oid=6491622&loc=d3e9504-115650"
  },
  "r627": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "360",
   "Subparagraph": "(d)",
   "Topic": "958",
   "URI": "http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916"
  },
  "r628": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "6",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "360",
   "Topic": "958",
   "URI": "http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916"
  },
  "r629": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "05",
   "SubTopic": "10",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=121604013&loc=d3e24546-110282"
  },
  "r63": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=d3e640-108580"
  },
  "r630": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "35",
   "SubTopic": "360",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=6496927&loc=d3e30448-110314"
  },
  "r631": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column B))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r632": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column C))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r633": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column D))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r634": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column E))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r635": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column F))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r636": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column G))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r637": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column H))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r638": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Column I))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r639": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "360",
   "Subparagraph": "(SX 210.12-28(Footnote 2))",
   "Topic": "970",
   "URI": "http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024"
  },
  "r64": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=d3e681-108580"
  },
  "r640": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "20",
   "Topic": "985",
   "URI": "http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756"
  },
  "r641": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r642": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r643": {
   "Name": "Form 10-K",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "310"
  },
  "r644": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r645": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r646": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r647": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r648": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r65": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580"
  },
  "r66": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL34724394-108580"
  },
  "r67": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580"
  },
  "r68": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1A",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580"
  },
  "r69": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580"
  },
  "r7": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "3",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6801-107765"
  },
  "r70": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1B",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580"
  },
  "r71": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "5",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=121641772&loc=d3e557-108580"
  },
  "r72": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "1",
   "Publisher": "FASB",
   "Section": "50",
   "SubTopic": "10",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=116657188&loc=SL116659661-227067"
  },
  "r73": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(210.5-03(11))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r74": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(1))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r75": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(10))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r76": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(12))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r77": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(20))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r78": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(22))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r79": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(23))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r8": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6812-107765"
  },
  "r80": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(24))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r81": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(25))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r82": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03(8))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r83": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03.1(e))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r84": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03.7(b))",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r85": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "S99",
   "SubTopic": "10",
   "Subparagraph": "(SX 210.5-03.8)",
   "Topic": "220",
   "URI": "http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227"
  },
  "r86": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "12",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3179-108585"
  },
  "r87": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3213-108585"
  },
  "r88": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(c)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3213-108585"
  },
  "r89": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "13",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3213-108585"
  },
  "r9": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "4",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "210",
   "URI": "http://asc.fasb.org/extlink&oid=121566466&loc=d3e6812-107765"
  },
  "r90": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(b)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3255-108585"
  },
  "r91": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "14",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3255-108585"
  },
  "r92": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(a)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3291-108585"
  },
  "r93": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "15",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3291-108585"
  },
  "r94": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "17",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(d)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3367-108585"
  },
  "r95": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "2",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3000-108585"
  },
  "r96": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "21D",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=SL94080555-108585"
  },
  "r97": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "24",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3521-108585"
  },
  "r98": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(e)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3536-108585"
  },
  "r99": {
   "Name": "Accounting Standards Codification",
   "Paragraph": "25",
   "Publisher": "FASB",
   "Section": "45",
   "SubTopic": "10",
   "Subparagraph": "(f)",
   "Topic": "230",
   "URI": "http://asc.fasb.org/extlink&oid=121586364&loc=d3e3536-108585"
  }
 },
 "version": "2.1"
}</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>104
<FILENAME>0000812011-20-000059-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0000812011-20-000059-xbrl.zip
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MS+=%C8&8J4'64-;1BWJ4M"AQSK:1KY35/')RQ6[86TN0IU@9""\[H20Z?;%
MO4@*@.^(!*0Q#4@OO 6F%!A?-[6B<* 5\V?P&XS'XHM HA@_CUQTF.FZQAA4
M@R8\T\^_^V;X<G 42P =M"YX%76D!V.6#$BK! W4.>(:H%1]B)EJ)":69AH)
MVF8C?*P"3"M55<\1P! C*6A1XADH8:)X-%!#@(]=8F5,-@8FH6AG+&$WG@OU
M/XR4O".ILB:5.-=8?X!!2O _ &9A5D,>J)0ZP8>G18H^#%=(K@G4/P# M.@%
M[D<<B,/#I3502L)S[-I8ZN;DPX"0Y:XO0L*>Z2Z_"5MA9!;KTLX_;M)T3J;)
M"0WO 'E;V)?*CLZV+GP"7DYE:13%AXL$D\RJ"MDD 96+&&0=Y%U&-&SXS:20
MJ6'Y '2>H$S#W/%4@_C"#RR[$TI;5X0I8XI8PR%@K</!X%M2#5E- )NF\')J
M_#+N,.#.1KN9,P4FG.0+60YR!2NT>P[JSPKED0<..X-8&E:>0= ,+&KJ0&T!
M5DO6HO9)ZP: Y!&"85C#6.D6_2/?E@O%1SB!AV0@/H>$VT:R((O&$\PE_& C
MG <:2Q^<L?U+N@8P\3:&]A0'TWG#ID0&AG:Y<8V60E$61%F6Z7PQD )(4'GS
M9[V G;5H,!RK;M'\X,I!!"'(0WVW=JTE!RD"^RC'8YUJT">STOHWE;,OP[WM
M##Z=HL)I-(:>[)4K"\%/8&#NMRG\RC_7K'QZJ[+CL\0H$38+T(_JP;%I<(Q(
MA0WPA?7O1F8^Z$<#90>+P\'@4?LQ.^)PGC!+@%O'*6F&R9@V;%)TM%'KL:4'
M-0YB=#9D["2]S9HC6'8XW2:C"53DXL2).?SNU5R.C+)#>5/;3DHOVD\I!:(=
M1NH^&/'ON/.6F<@DQ#>LVE*G344*B.3!1MM51*QP('6FR"EY"@O+516Q@B<-
M94TIH6I(*DC^P^]T!M*$BTH1$VID4K%4A9^Y*"-BHR9A*E(55,"DB=W":' (
M4$J5&S8MDLR"&H]1YY;.1[Q>F)$9 ;#,83O'AG;]EK.TE B03 IV*9!B&]\S
MVP!"(H 1--2M+E)K^$#$*](BRUUG'9?+5BM:1H/CD*&($7/OD!O8+9(2(@0H
MN9\0?"(O\FWB9ZTY(8X?F"(%U%7+]I-$FS@M#/('Q'=W+3*?Z5NF3F*:S5,#
M4TR+'"P#O3*2%LDN&-6[QX:A<4-Q=6E<3-'()U4S,8N<)?^(BFK]"LNV%;_D
M%E P2I$DP3*\:;.BN@E5G''KK=6C&!&YH:BGRV-89R3@JT2AWJ%ZH^FI,-5;
MJ7&J&+\W^5C>0IPS@EF;LF!;452+ZYVW"]X1U^@7/.SW<0)O>ALJ\-N8F5;$
M!%J.]\.@0SY82?IOC5N3N<0L@\\ PP-JBE9MI-GJCVV<!+%#61A;6:%(8$?\
M9)<$:]6)LY-)T8QJ!S0J-2EPE !B]+P/SA7N6=\$X:,5^HF*9)+#&5LTW!_\
M<.(2UQ=8S$7B+Q&Z-+CF1*V'7/^I0!7EK!C!-+)3.7!"XC>X%0LG#"3+UD\Y
M9-=Y^<O(%_4:9OZVWIUIY88IY41MHU&_V99C$.1#F<[DW&Q],;U%GUFF[6!3
MA88@"KIBDWN$9A Q+SI4^/CWW$)B3KH<B3- ^M-U"A+]TE8_'.N!D$6W3386
M3.<5N$D-F*I"/-?!5%3VZU<W/#KB/+*Q6)]M>^.6Z=)EUA"$\50(X48JR#A8
MGTI^AG/4MA[+2;.>35E(2W9\"V&EA[!@UP:A'2YX7XGQ-@%DA&^>JPGN'2TX
MB!9I1LI0IJ"QR=S%0&PTG7-Z$7$,Z%)<&(_V"ZWH+G&&+\-L?BG*_W(3RG^F
M4@U <KY._T$%PEBG\S !,^4(VA:65E03RU[CPM*XG[/5/B+%D,J,9>QT$Y4
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MSZFMZ&IU7>4H2YQ%[>2&VZ3R'>]C3(ZY?J[1VUBTO4?"CNLNR+ACY4?NSH=
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MO#X0_S&UF,IY3XQ*,Q45G%U1&?I_#\0&LVG@;2L)IR=L/?PO,'=Z+7!8Y(W
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MKHY-@"603@\L"4F_CEAB\SDV'1NCUSE51=P7MC6PK0&B!*5?'T1I847*FSH
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M.(7("? D$)Y(D?-8BPR  D !H'P?)ETG4"AO"X3WE3O^/G5=(S[X;/YA^!'
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MG[S"?;7:[ZL!1.X=Q4(2\R@1**72^J<40B7 $F )L.2_P1* "< $8 (P^6_
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MPBZC;@<A32)P 9KL L#FHO;-!>#COOB0"$>O<ZJH#8<#1YQQQ(SP;C:?CH=
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M+0>?[JWG4J".D$6K5-$EJ=AD&GB5;6]9KD\=_CM7V*?3@)R+4_9]N/O8WH-
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M;C7:! B+P/($<7<^P9Z(HB%=$43C0+HT:K8$'GX,C:/_[V( I%(5@D^%=$0
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M74_' 0RM%Z!2S.^.)'[[0/U-8FW@@>!_ 7)_?O= -=M#=INN_1%ZKSZ_ <T
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MU<UM/?W\?69LNW5^V+,BDHOHL4$V\(1(3""T+#,KH169E:F#O!]V.Y=>\X[
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M]:K6?2L<M68J@5H3?4 D1V&J:%>,S:@5O$LUOC(W .=V33PD^N5B:KZGN%5
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M/4#C0 [YOF<5N8$Y4HNBQ1*!F<&0H@DF'HTP3:%RTJ'T?O'8Y!+9Z\?!5OR
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M^>JI?2E_;?9@#!>?8VVOXMO%C8LU<,)HO,AODF829P]</SNDS($C5<SQ9$3
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M$EV=EG48E$I+I?P6]:B.X<$,EK_*%TVOV^WSO6-4!*PPFVQ")'&!:(@8*:F
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M9W.,?IK $JX4Y29#Y7P*4A4O$;>?I+T%S5:+GO]P .:__=/_!U!+ P04
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MA^PA+0-&LZ>OF^WS%S34=+IF5CJS^:+*[5Z5V7/3HGJ48%NW\)"8]?SEQ&M
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MD)">[<P6#EQ\RDEOQ;A[,?0[PJ>[+5U-)JO[U2Q=5G63'LILDJ^%LOFFOF>
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M%F$ML12\JMMM4>WW4$;;5)894-BZC!:< ]81A)6?9V\U$,,31TJ<%4(B+#%
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M+SG7"H/+X>&H?+IA63<<RWY/OU0G]0>9]DV;!"N(+$+" R YE580O+6IJKO
MP[+ML"*,1KWH9NZ]\FV387&8;\_;5,K>(^RM=<&\0@PCHVA-NU-M"L6/DF\M
MYC[<H=@+C:Z?WJ55^LS5S==?[RM">?H@B2;6$U6]1>0#%HPQ*76- G ,1TO
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M#+60UP]E-GPJ\KNVB0>($B<]9B)L4<Q)5"<*!A5(0'S":V_I71TNU;9PQ$9
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M3HWVT&&@78VKQW+(DG[CD=7A !TLM/7]).NE%7Z:K:JK!*_.ZETQKQRTP*!
MT^V;X*J5V>*0D';\I40R!K4PBD&F@ TV")6^QE-Y%)\[.N1=@%@!/2^8(Q#.
M_H2Q$5X"8 R4#$K'FV 7$24<K?%RB,0_*SKDE80>A*\'\$8@;'&"E!!#B1,4
M:2"E90I"Q]%VGI 0&Y]A.>1UA1Z$Y$1@AH[Z[T"H;D6FBSL_*SY?;F*<H PJ
M8I1U%D-=/>8*-R<LPGHA\ 4FQE5O C!AC!(*<$HE5HAM9Z2IUD.&84X-M#=F
MQN% ^VD(_("!=F9@F"]G F&.,0N*!/(: ,P&?=6[3:"],1^/!MI/ ^1"PJT(
M@K!2J+'6!J7 /9=R.R<'I!EQ/?*6/&H6=XU"Y\?@_(4$VH=E^(B,IN]-OQ.:
MGCO/8E'=RLPVEVPOV.R35A.L@VL%*8;5,U@>;DQL# 4RC1YW&Y?9IXVC4%CH
ME.><0&0$W88H,"" #OG8V<EF7U-F'#;[3D/@!S3[, B3ES*@I[3@TE?7P6H
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M^/[=T]OL,9L=,1J:#9!8JQ7UPC!,.&' >B1=/7L+7CXW?X),G)[G>6$V1"\
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MU(APPN(5#QQS>'T@N"+/4#95LHJ;*@1;W=R^+^95*';/Z<F>UHD7BDAI'7+
M<$P@]L35I%KOXFU3..9H=G>(1#)ON]6<?@IVO&/B%:?2&A#L9@>UE!HS7D\
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M9CME6Q>@Q)[O%[.B3*?%O]*P?YMBOLC*Q_5],%VDY9J<9U6]#F<!G#Y2XC"
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M<4RXU$JJ>LY,4XBBV0=[>[FI6].T(V2&BM-5-6&7VYJP'\.7CX3H7VN>2,P
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M)9L>\08;]$J4$9Y8CY2BG"$@H=5UB-L)V^:%N,L(ZG6%S% 2\+XL)EDV7?@
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M8??'D9VQ'SXC%)G+B,HYI5:U,(PCYJ1CEE&NE74-!1 !,*(."D6"VC)QN>H
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MIS_)U_/J5FWN7]M,#]YYQK64R MDH+)&82&P9)9#(21NY0<N3OVIB]-34X,
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M(W)J/GV[J.:K#]6W$[DT^X8'I@AD4$(,2>H.3!4E?B>JN%T!XXMG3^8FT/2
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M<L( !:/^;"DPUFO0A'-0IEF'!J%C]F]>!+QQBMH_ZFKY^;=%;Q*V?5Z@7'G
MN;:0N7AN4R-UDY7#1-RE\P7KRIRD@V$V8GF*KS^6Q)_YQ! !%Q1B"16)O)!
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M0;9>5WO:^.Q?Y=GZ*[BC:YIB7=QEY>ZJ[1)?LP;L\OJ6_N_7; >:NWQ=7#^
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M+E=.$(/DH1^:[.4<T,.7?J]+;_-PBMX"6D90$T_?XGJFCR>HVZ.)X2>Z)[<
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M7CQ][%4+*RJ:PWY9Y\/)OD/US",I-4+C(\]*L!=X@]TH)4*W\M6MS:!#5V#
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M+7VZJ_-L\[X\A4"#U##T/3<);"LA3D+2-'3<P7P01[&\>BH8-:R<+3+0M-
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MK;!ESJ@I^R5VSBB\-E+G5WI]KE0&.AV_\L/-_]TW[6O&S>?JU'!GL3??K)S
MAEX,H9LXOF>Y?AC;Z6%O)0FY[B;JM&=X'CB!"7;5$P'KH XZQEFT3RO9EV>%
M.7@6FQP63C'_5#$'U7(SAA;*>>8'3DK.3!.Z"9U_MM#N466N^^E*#COLU!]+
MCJ]:6U% ERN)[;($#60[/08G1+'"L\VJE@W/)Y^S;='\2=?<*"L?JK(![[]L
MBYNL._Y2>O5.*_TR&153,B\VPXRGD)T>.Q[A+B65[ 4FI3+*5%ID&6>-AGSC
MSB]39Y"[VEM7DCOK;F"1HLS*-7M2FI7@7CFN16P8H!!:<8CLP'."0;X=E%A"
M+^XI&3(=>9]@8VO: [JN\KU@33@E1OG4<#(R!</K)SR^\(K Q-7C1G@:D38M
M]"Y#R?2X\K3"G#Y^A.K;KJO;.QK+D*K.BYNR*Y*\?DBR+>M??;(;(6GL4[,H
M31".2 B]\& >DM 2+GJKPZCQW(DC3M #!0-2T$.]$GI?73_O?,HV"^6BB1<Z
MV#9789>#O1'MT]X R]!!_6Z]5*!7/V^\^OC$Y.<Z*YMLS03ZKUE1OJF:)LFO
MZ<]\SKZO M]*XRB$$7%A#'V/''/6G-3SN0ITFK!K6"6'H;H>ANJ6HF/7KHO3
M ;VMJ ?@)_8R+ A^%A-+K8W IY=S\2\FF<]4\@0G8$#!3PSJSU?@2XL64+C3
M*J< CR/B::(UEJ&?1CRKS/=E_E.I(?$75;=?^N) *&N^HJIL"DIN^P<MI.N<
MXMNL[-2.X\#U"4P=V\=V8(?!83WN$:[' 4W8-:RBAVSZ$[Q7@"$&CR"#$\S\
M1RG:&^'RJ=6<_(NIZ ]&/?]IUIQ-('>JI;4I>$ZW!"DZ<\IEBNCY3[N,>5:9
M[Z9R]^Y.49Q!\'[W-:]9'4(+NV'@APXF, E<R\9#W1C'P:E0C6?]UN>9K\X-
MTBO0PI:[@*>Q2?BB_WE;0\OL)=L01F_B<?,YLA8PUS;+6!$8]._,E3Q33!I0
M7GOE><B-B!6AT$^P3WSZW^'2M6O[GM#9F5;#R]);8T++T0+:-58O^4;E=;&Z
MJDE2^9OBAU-3 =?DA524/UX-_5!7ZSS?-(0R\#'OD\>;]]?M@W88LCJ&)(JQ
MGSJQ31SB#*G&;N ZB8AF*ADRK)$#-L#Z ?CI" ]4US]+O&*I1BJ?#$[&IYCL
M*5!I1.G&:!I1-BWL+D/)]+A2&>A]HAD'F_RZ*(M=_J:XSS=4&S?YN^PV;U9N
M@E,:4 ;L"AS!'L(QM@=[%O:Y+J:I6S&>4S  >[5ER%@B(_W[@I4GADV3[_IZ
M*L(QG *OO"D$4U JFC-P8+,%!5I4H(4U=8K &79&<P)4&5V&-&GPX]FIOQYF
M^ K#/+)%)?$NKW</;[,RN\G;LE]5N:NS]:Y9199E!6E*X[4@2"%,;2<=7E=R
M"7*Y<MXUFYQ,KD WP :LX @6'-"*5$C11_KELZB9^);5LN52+5*?9A;*94O6
M:*&>KXP-+R]GSIH,$#O_,9,)IRJCG5$LZ&450EF]!Q97]V6^B[PYC;@_U$6Y
M+NZR[>N2/6/Z^5NUPLA&KAVYQ(6!$\+4#5 \0$EL&XE5HS4"061HRE>I_7PL
MK?KV\,Q>^R0OQ2@6)9MI"+X >O86$)N/%*@W$F'+T#<2?!MMC67$Y69=K";L
MW:;5EO;3?.4E.(*0!)'OA;$5(V@?ZOFZ5/L%JW\; C&[XC*4IC67KSE,J:[V
M=M"KNZ,-L!#E91BU:J]0F_RHZBOFI++^2G!J3($)'0TKVW=\@HB?1#%)$A)&
M03"\>>/&,(*&!9@+P]SZRT :EE^^MC"DOMH;0:OXCK*_#.UE$'5*KU"#_*#*
M*^:CJO!*,&I.=XO[?&4C"UH42I*$(2*>CVTT8/%\S[%-ZRX/AMEUEX(TK;M<
M;6%*=W4W@E[='6-_(;I+(6K579$&^5%U5\A'9=T59]2 [L+K75X?X'A!X$'?
M#OW$@L@-HBB$X0 GP:[04]C&0!@^8SP_]C,&<P+]%6P3[1)LKCETJ3!O2\RM
MQ8^8U"/'<HWSPRFRI)ORHJS"JTA)0UPTZVW5[.L<?FG:4[Z5A2T<>X[C!<B#
M!'J!'3D^]E/+Q;'O1I>>4U#\NKGQVQ:&.B("?PR8_L_TM?">$S,R'!697,9@
M4W7BA3)VRISP#I1/ZZ_Y9K_-N]3/8_6\YG/^?9=0+_]<15'J0<NB1D,[<((H
MQ6E\,!RG0J&*!G.&@Y(!(7A_#1Y/BV)1B YB^=1H8D[%E.E 9]73N1OH/*GJ
MV8 _/F<L$98A!BWDB87K,H<C(J:Q 98A:#H=JHQU5EFA.X8G[Z]/PY:V"QYA
M.(A *KAI''J1%]J$^"D:8!#+2N5D3Y/Q"440WMS4^0U[T_.(G95IZP;Q^^/K
MT;+ZJ*L]1-5RAJ:0U\X3[I\KZ7+4DX]3+BW5W#Q+4U;=[IW562,\\JKN^_HF
M*_O*INQJ9+4M-NUO8+GY0+O^D+%[J'J:;3_1/VES,YM#Z(L1IM- XI P=1,W
MM-,$=J&O1R!R'-Y:F-. ,:<'I_B[J\@'#P"58'#JPTG9Y6P+CF[,MC340OZ(
M<$S;N,M0DXE]KN8<3A/JSG'Q?93'((!1$,'0M>*$QJ#033Q_@!EYA.L9T]G
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M7C!$J9CBC"; 78$.(V @%Y+%<&1-)HM!@O-EB)96CWBS&*39XI6W?]MG-96
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M_:,T\J$3AH$5)BZ* H(P&FR0%'%?,Q/_LG&=S+:@0R2B L+\\"BD26I$)?+
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MOH-*B.K4 9X;I6E8<KG)B2(Z\A3578%4?UF^\!>+<27[I'K.UX,9^AO6#"'
MF>N&"? R'P;0Q23I5?(B-U'+&2TH,D;RN.4[57GNV.OO= 8T.61GPK!XI4I^
M-APERXX3^TB=/M\Y9WG<.3.B5WFLA?C7H@OG1M V33W)X-;Q%=EQ>%#G>O>0
M5Y_*[?U-7CV>5@%$:>0&68(!CET_Q5'$-]TT*J0@#H3;4!@7/"J%-SH[7.E?
MN=;RK&T'^_,L/3GLZJP\P'OW!F\9(A[!!>*[.2=UA=HN3@LN$=F]*8O4B5V;
MU@"??K>F/=/*$5Y8F0WR@XKY<E Q;^Z5P\NG@B^Z\R[7^RVB$8U2DH81=;W
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M_5"L\N_EYGM>+6(:$QKR%K^4()?$;I3TB^>1G\)$](8=DS*GY;!>>T7Z,NZ
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MT&G7I$VK1D&GYAHJ'Y]0QEF.96UCJW](XJ!>L\^BQ?;;66QM'XHX@9@ 3QJ
M>UZ,:,*@TZ<=S& ERW+7=Z3@F]BVZWKAQ2Z!@";LP2 *4 +=N%^#BQ,/$@U:
MDQ$S#H_M]6D22C7JD@)/CJN, Z9'3HR-]OI,0T4#0 2X1P6^>9&-D@4GV$4=
M#96%]@&G-:>VCFR+7028)E&"$Y<2A G%L9OVVV%C/\JDMO^;EFUY6;X]^'AL
MQ[_*&533N,LOT8\-N<[*_8=AMM6?03VVYW^Z57T!. 47^TTZ9B;<:,NZ,UL#
MS*-H_E35 D0A(@E.4^@S>F?Y8@#P/D<,8&S@#*J*6"DF-=2>],-S?Y;G&,7:
M.E-UV0-BQ#H1^'*<JG"&:JX'I\Y0J057S(-%;1BF?$!*$COAZZ/N[O+5[OHN
M^\%FU-O[_"N;)5YON4[\_[/_?"Z^+S=MT;'>5<6*S2&;;BW;]>L/!M]<L-EW
M&@ 0XBQS/1BX%.R7A^(X 4 F9YU"/\MY;6L2GRGFG5%.Q:QRVK^S*>2V(>NK
MEK+S@^)-+_AJ;U;S<\F;IJ;PMABAS]W1<LQ_\'%OC\,-XK[%C6^;L##0]<HY
MF-'^D#O[[6>#7QCYQBKSWCD34:9\%^81>B9%X.V=5Y-[0S28:>GT):^*<OW^
MKH75YIFOK@VM;Q%9@(RD*0T@!=CW/3?,8$9[(SP/8)G)Q,Q4MSPA,<2!5TYK
MN7/D2I4K9V__&PYN(9 +G#-SCV!,G9G6]L+MG-\G*_%X7,^>"=4S?<7F$<7G
M"D[Y4]"$?.QG>@II=^A!'P=,8)#1- ,D"L+ I_V<.F$3;*EKWZTH8'DJBH7G
MF9)-ENQX0SSJ3>H(^=C5("X3C29KM:0"[H7P8<U7\PD"]DP\0N66\1QE,K8@
MF0?3@$T/@P#$'J%^$O?=2I,$N^[BJ;'IVVY9[4:885W41X8?WJHN3!4HOR^V
M6YZ!EG=.^Y01IS&7?3+"K,2H(R:99/Q$$P5;>;^P$^?#X"/8:C(KET1X'$X/
M/.@Q#?P4X]A#(<!HW]HOB5)".T[/MH(G=>QJ(\_HO>+BJP2,*2XS^?^'>$'4
M)_\5>$'85J.\((>P^.WJ;/+)9'Y9%FM^#7&,*(@QA0D"),M0B/WLD%%"-Y29
M5\L^>X0I\^%H7=$I)WLQNB1<8HF53:3D4J5>$X>K<L7KI5WEM+N+KOA'SJ>U
M[9>N9G!C[QOHSA"<*LCSH"QE[=]=2:Z#@CBMK,K'_(:?9N6"%CA%Q =)G+J)
MB_P0Q5G<=[](2.*FB^]Y=5N*$XO<TV6&RU 1X5%SLS^VJ[#!61HK44ZQ!Y(L
MIW!-G!:D+^>.HEABB%= G&4(-<CFPA"*VK]C"!T4Q"<D33S)!E>;,L'/596O
MT?/N<[G[OWG#48L,)0CAS(?0CQDWN0'=BP=IBJ3.41@3:CE5@:M5]=S4[W4O
M@#4'LVB): *$9:M!+:A#'9U>2>?V><>['SHO^6X"KA*%[^P\SK 'YL%NYLUZ
M-SNS@IM()R]<UKMZ5U[?[I;%%I?;IKA?_U7L'O S^_R1$<B^Y(\A@ @"XD8Q
MBFD:1C0%$8DRUP]AZ%.1]M4FQ5D<IEQ+?D%IJZ>S5]3AFCI[5446U.PB+MX]
M:BKDU;I'F?2 2 ,I"72.\)\M?*=O(&7%JM+N6ZF4#/+B0B^?*]7,3R,W= %R
M 48@COT XS3N!09!)M7&6D.,]=K4H;K2J^9PW9J[F)52/B4PI9(\VS@JI76R
M$-I,XXX =#EQTT%U5JF:EB''DS-];#09"3Z6U:[X1QOI/>2F"89>$D'/3PCT
M0HHZR0AC$AF@)BEYTW'44$TC9"6'LQ9K68/8&'T)H3LFCPT5DB<T)<!GS6QJ
M%HE1G 9:(E//;VQ.T/0N+'E'IJ<J?\BW=?$];XN 7Y85^]%#OBM6R\TA!PQQ
M0JB+/92X.,%9&."6<1,?(I(B@2FH#;'VQN9>VZYEV4%?IZMM?WBELM FSW%<
M(3XWG=HE:G-4*ZX1F:PJP'5BTFH3^.DGKU:M*\=Y?>52QYMJN:TWS6L,U__!
M9M!<*_J\7?%/EIN;\FO^Q#E]>X]Y=7&[>KE9_FC*CG6.\FU^Q^\H#!(FG\+$
M8RP?Q"Y)4-1IABCPD4QJ.88^EE//@0G.P0;G8 2O4NW-<'H[V@Z^G0W.A\ZF
M7^0RU%'<*9;!SLV3<E%4RXF=%<Z'SH[33K22"!M _DRB/*9?YY%(CVIQ.=TH
MDHL<^QAV?=?UD5ENOI1UT:BZ/_/A(^0%+L49X8?P,8@I0K[G43892.*+V;=1
M62.EW'L%G5[#R4Y1B<!V9J0;17T>0]FL2:7%MU1N,,+-IOR+2<QI69'R^79W
M][R!JU7YW&S;7>7%=WZ57DL1NP4(24;89)S-RJ,4>02&D=_KX+N)5.<DLY+M
MIV;KW*GV:M57SK+77W*OBF'$Q7AP.K#E"+'7R3DH=>7LE6^V-'?7^GPJ:^:$
M3N-QV5$*S#,T:<<I\^!+2[:58[S6LIN O_/Y>/7RM^7FN<FWON9U7GWG+?$2
M"B*/R8NS*/(PBD)$6X&1FT4PD3MFH"S&,C?VFC6-CZM.*=G-P>H8BA'@2/#)
ML=U>*6>OE?/U$H"6=@^?@N?L1F)M3.=!5B8,>;>]V! VXHW;\[N<;^-K+IOX
MLJRNJR:M7',%\B]Y>_?.(L@@R!*8H20E81RZ &1>+YPB0.3ZM1L1:9F>]EJV
M=]M<.4_+ROG.-70^%%MG76XVRZKFAQS;B\@D"V>F<!>CL0D@EZ.T ]K?6K29
MCFP .ZV6#<_EO&^(TR@Z=G=V$?#.$)YA].=!?J:->M>"W0)F:J382*KA\^Z!
M)2O_R->+@$1N[*(,QZ''H(N"S,UZH01Y4NL/FJ+&)L&&ZFIGN==0A_7D@55A
M.ZN8:K)<JYL#+\,Y K.]!4J8T901GB.3J1MSEL$T,=)AKH]U_<P$AH&?>7Z2
MTB2%J0L#+_&37J!+L-3A=0TQ$S%6T6BGSU:B8*HSE04<S;#4Q_,0CL90K1Z2
M["2)ZGR92=80 592PD:'D:Z?=_5NN>6M$Q8>21(_3,(D)BDBKL?;=O120QAK
MTY*,K(FXJ3RHJ$]04MBJLY0M6,U0U;4 HJ/QU4 92=)2 7F^S*5DC0!]J:,D
M?-[A<!WKR9FH[T/LQZX?H @$01+C%.WS.1S25.J\@P%YEKD,#^Y]-ET;,P*W
M&+6-C;0<O0TO@)Y524P MC-49Q+T>="=48O>'GTPCI8"[;V;OH+$]ZD?A 'U
M4Y0R<8/I*X")W/$N#3FCTIQF]4L+3VD^LPJE#H]-7/0Z Y$89RD#.SNN4K?D
M-$=IHJ/,3=TD-@I(ZOEAF/DQ13!P29#!?5DM#CPM7A*4,04GJ=2WE#%4Y"(+
M\.GST-4D=:T3V,@0D"2:,R4?62LN$8\2*B)G0?L;7_C.L%84R\9>9V%A&/FQ
M%P(O2;,$I"D!D GU@S3U@>NZ0ONV#(FR3$%##?MXSJ<GHI,2*^B>9Z4)@)4C
MIUEB*GY"=F1LU0[$ZF(L<O;U,A!'6-XP@M.?;#5I3&GE+=.A_E>QAGAQBM,H
M2VE&B1<&,<'!/L%EGZC3OI28\2E?.(4RCJ@*U5L#4YOFI\-1A]ZMX6F,VE53
M?$%:OY"X&T1MCG2N9LA9*M? 1KS]0+ZLGZN7P8QAP>8(Q,>I[_L129 'DA <
MUHSB2.JV1)7G6R;N7J77!0/98_X*L(E5"6PC)L?.>[!>U0C&/D[_#I$S=0$=
M_.91$]"RX-WQ=5TT1)D$/=?%-J]K7#[>%MONJ,:JO-_RHN?'-8M?Q5W!N0W6
M=;ZKX>H_GXLJ7\/M^A/[N-@TMX&PG[%0M^Y.FK7?_%+E_*Z$[DP]^_[U[B&O
MVI\MD@#Z.,)!B/P,L;0V<3%N;'$9/U)/JKPY3PLLLV%OM#.PFM]UU]OM# UW
M6IV=WO3F#KR!\4YG_?Y :?<+5TX'P;XS!__%!H7N&W+T.T]/"1+\/)6W%T+F
M_H99B5F3./E,5)SW2S>/N#MSC,J?B49D6]FP[*2=YY#GJMC>MS<9M_G*Y_RO
MYD?U N,X!%GD1=3W$$R\(/!0+YS"6*IMAB&1EJ-SHV4W6W=:/;O;P@]S>:9L
M^PW)(&H*=+&H-P'><F'*$-26^@B)@'>&_@VC/P^^-FW4NVY"%C 39<3/^:[M
M1<G[LRQ@',$@]E//BP'Q@@PF!/8R0H*D-I?)/=DROS%EG*+19MP!]0J$,^-&
M#:QY# ]%W4L3KXOX6M*_Y\7]PX[E)=_S:GF??WY^O,VK\N[=3O9V8\,"Q(E'
M:9*XB4=(Y*>^E[J= AER?:$4P()8R\.DU];IU'5:?7FWN_<'/*Z<5FGQ51/3
M/KB\&C4A_')9P4^&O/CZU80>4%O/,NL)D14N.8A.K'A9PGGZ%3!;AI76WU'S
MP6FX=+=(XP"'01B'F0NQYQ/7SZ)>C2Q.A X^61,^KT U5-T\:<IYQ5S0LN80
MJZ%K3KXP'\:L^6248";D&Y,A;2A0,[ I(?_SA#<U\Q2"G :.HD6'HZI<OU<%
M+>MBM<AP%"4 TS!+0>!F* MI7_C(TL"/%NPIMZ5H6<*L;)D1/%13>@#_NNP&
M<'?LI!P.VUNN:W,"N/VIY+%?P^X0J]-.YP>KT:U1=]P:DQ229VI0=CPRCQJ5
M)=O*,=YI ]Q*BLTS^^R=(H>;)A:$ I"Y%$,0I]B+<$ )Z+6)   &6-: %M;Y
M-KN[RU?-]0YKKBV_L:O.5\]5LXIYU7[(R, LUYIPCP;KCNP7,_S;*7V$A ?7
M^,R B"^#*TO)!MTU8W(V::4(31M'53,9/J7/(@HC%$$48HI]PN9<61+UU2=*
M,B]>[,K=<J.5#"O+EJKZ[-4TFPS;H6@=AV@EQ*/XPFI*W%DP RX^C:9\6JSM
MEQESKPGKQ%)C0RB*<FVVK+;LZ75_9K%-Q"%&(>\$B_TT]GV4)EE,#[) )I?Z
MJLFPGM@V:CC;_3Z(0Y,P9[G;5<7M\Z[9%[LKG;\MBXWSE3VJXOM=/VY7OXT[
M=H\B>&:$ZB$^CW&H:4-I\AW4&U/=D%YD41A WT-\4@M(Z".<]MD2!03'>J-*
M5(KU<=7/0W[*D=4I+S&V9'&?Y^B2MN+"^%)#1?C.O^VNZ*L1W_;%B.S':O.\
MSM>46<OOEGYNEX:N[]XJ!Q_Y_5J+B$ 20NQGJ1MD&4YAE/2E? HA#>7&XS@Z
M61^]W(Q?CU1ZU&</(SE+;$XQ/R_)S32&^CL' YS> H</=6=@ Y^#]%8<VHI<
M.:TE(U\[: +\,]0\KG/G0>0CV_SV^L()$%?HRT>*[\4ZWZ[W@O&R?OBR+-8+
MSXW2$!$O!$P)0!,ZF%5%*):ZX-"(0,O;A%[WG=NK>36D!JZKPY55[N&G@;<8
MC8\.M1Q+FT'9=KN_D\B=H5BCP,^#0<V:=+HKH"F\3/ ?R5<;]L=Z$?DIDQJF
MF(81!'Y*8C_H16,O@'(YL!&1UE/<9N2M>_V<=:?88)9JN'6\!OSZ=&@%=_-T
MV*LY'S;L-5)D0VG<Y\^&\B9)L*$B7L*7_RQ?^))ES2OLG>0%=0,/P=#'V ]P
M1EW -YPTDA*7Y:)2IYI5GF\YU]LKXGSX7.YR)SC-8'9NH'D/R9FQI /@/(:.
ME@5O;Y?11F.*[D&?&5!M0X/!SSZ5V_N;O'HD^>UN$2#@!LP.+_6Q&^(PB]V@
MMX&-;3Q5UR!]S2T/9DN]7 YV#W]^Y7#3?V5J/CK<^.EZ!!EXH\12J'DI;2\7
MF^=[-/M.0!==>B:RS?/5FD?,G"DV%CO^F/;@%'%^\,DB1CC 09P2G^4G;IKR
M9*37%B6^5(>,J73\.6/WX,/I K34JS!^*+;U%LPBZ(J\ +./K(-/1HJA*N_$
M?[UHJ82"Q;BH[I5)9KKY;N$AC-W4 QZ+T"D*4A(%A_EX .!D<UD!W7[.B,<L
MFW J*N+R"2:;AKT]B\AVSM&SCVA,^;%F@Q*^_Z\7P:2LMSFCD_:"<'?6YZ>G
M3=XTN=B@)1MXJ_S;0Y[O2%&O-F7]S ;F3?YCAQC"?U^$Q'7#F&9Q# %-XRR!
M"8U(E+DQ#GSVVDOU:#4IV'*L&>A:O3B=MDZCKO-Q>U=6CXU[)5NT&D5>+"I,
M!KH<Y0_5? /W0%/G3ZZKTRC[_XS<LU4"QS-$;<4=\V!A.Z:][>)J#S]1_J3+
MHKV2;2 3WM:[:KG:+0C) -]FF)(TPED<P("&*8RR *9A$$2BN9R6#'NCE*O5
M72;X:E3VJHT\)L^A=&8,&@%W'F/.C"FEA9=/<4QUF=&KC.B/YLZ;?'W-LZGG
MBO=N9E_X7&ZK_I_\X%5]T[12(L!+H0L2+PZAEY D\Q'I]4MBL4MJQ]?*<C9S
M&+=7_72I5]\IM\[>@*:O#H^R7.G3@WEJ%TIRZ*R\ITJX5P,O\1GN4-6+#K/+
MOKKXBE#U:#Z<&:^/9_>I(# R\J(1XVO. E*QVN5KOO.62>=_9&Q"_7VYX7N<
MCG\*?Q3U(J(QI3#S/=^/ @R1CT#<*121D$C-:2VJ83DF'#1O3PUP4FG^,M"3
M979,4\E 8-,S8LP_$Z?(4;T)?UCA>74TSQ#[""Z:!Y./86@Y^NL_!E?_D?/F
M)0LO(#2"P*,!@7&*?!QCOU<I#5)DGZT%%;',UV=(@92/RV(["DV+.L4F45OP
MAQQ5:[AB1@S=PFB<HR6]\S.SM*RI1GA:"5]1IOZCW.8O?RRKO^<[^KQ=]\(@
M"H'K04 I!1ED_P%,>V$A@5(9LZ((R^S::.6T:CF-7LZ?K6:2M*J*H!AAC@">
M'!6JX&:% X\C<X;=-*&<!V_I&E$:?;WDCQ+GU:I8;KXLG_*JD^6R_Z +4]^#
M$4"ABU+2UY?CS).C&C4)MO.XO5).HY4BSRBB)T8S]H&33+BD,;-VL/<=+&<H
M1@_&>3",I@U'SNKJ(B+,+WG%]]LP^')^XC%_*NMBUTF,<)B%+O9<0 AO!@-C
MZ/42W225VF6I(\<VUPQ4XSV;.N54*4<'4$'B&0E+2?I1A=$."YW&Z!P7&4!V
M)HQDPI*WO&0,'>D5;_2R_^N_%GG%?O_AY5/^G8')"W*$(!A1@.,@3,+8)=1/
MLTYX0MS(55K.UA,YJ[7JJ\%&%.?C+G]46[,PY0W)E>GQ'*&\SV>O5[OJ#/\V
MR1J$&&(B"\EF()\'$YHVZM02L$G,I/FQ&_Q-XXKW:K3UUH5+_"A#*,YP0-EL
MU4,Q[=>8DP F@1)-&I$\>[946CPP[!U)VAS=,2;9<Y(5 BGH1&C4J MFQJ9F
M;3M%JA80E.;6C]NGYUW=4+G79;O ]X( 1&$&< H3-\-N 'J)-'*E9L8Z<BSS
M9J.+XRG.A+4 E"0[R]BI4AOOJ\\5NW*$H;3+;.]Q$N$Q#71GQEHZEISB*&UT
M=!C)[R2B),F2(/73F,1I$.#0H_U*)PB")--E)%$YHS"2;Y"1A %49R0;V)EB
M) $H1V,D7XF19-&=+R-)6R+ 2&KHZ#!2T$GT@4\2X-*827$A"2(_ZRN" (9
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M81XCU8PI;Z=HYO 1[R3XG3V\K%Z8I$7&[SST($G3,(-^2'#FN;T(-\6Q7*-
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MB7F0HR7;WM8Q+"*H4-WM!84@9(\-PBR*PH"$G*II+\B-7*FS>PJ/'V7UIC_
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M<S*Y7\J*%RKA;E<5M\^[YA;VDL]1F%H,*/;0^X_=ML[]QG:4^DD01X0D"?8
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MN60U F:2<TIYN(P5K8Z#<:)BI8G<].4J70-*8V^1#H-T-3$W!C2E:4Q#+XN
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ML)X-P][=SF$).Q7VZ^I9"!&0)FD4N)A0DD1N@/:"8AI*K0\J/'Y<-E,JD*N
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M],M<UT6[AO7[LCY\GW]P4_!SY?O/Y,*5IK/$ LX(#E(*&3-PBI4X<A;O,Y'
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MZTI3$OB!R^LI_C[A0@C*$HG4P\<BD58I90*1 TR</*QAI5RI%H'))&D,$;A
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M':&:"Y#@ ^=^ D&@Q_>XRKZVJR?F5DQD4)F4Q*E44IU,J>S^]0?@(S/U2 H
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MI]ZW^JY$V2-[&:IET1_U7:=&3*EJVZ_5H:C);O.QRG?UY_Q'4T:,"((1Q#"
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MJ?&HKUC](J_$$*-6+E\ :>X?K(O]4[DN:O$OS;4976M9\3@&,0DC&L4L2B)
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MQ3%?>GJB296;FQ)>$3(@)2/86X:.C''@Y04&8[E059!_Y/M2WH)PLI/&@,<
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M54TM=+@8E@9'-.CI@!H#;_3]NN_\=;'^M]OJZ?_NW&G[?O>7E]W^Y/(;?=R
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M,F9:T[CZZE#^9/PJ;^XJZKHH/HKDZ/4E 1%F+$)A&D0D#3&"+//EG<1<_#5
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M/^C]+D%Z#<K_FE@8QW$ZI*$316LA<CN5MR^5>5*6544\?:S+75'7 M%UN>L
MK:O;G7S#^<-&0"AOFB=AV]&$K/_Y6(KAA>PV9RL2XGN/]\6K^VR;FN*WNWS7
MWWF[2F*,,4JAGV2<(A_Q!$/B,QR'(0A@H'5:85G(':]1],YZ9][*S>^]O]ZY
MPUU.Y_4N-WOCSYSV.J_?N.>ZJ^C+AW]W7N^\WA"TK+@H#EC+ NUN>%MF.W(R
M7DX:TH'1=9E-:QEC\4*YJ?X*XJ#YO%B?3U0=O-ZI0LX014:2UW<]\%6 <8JR
M"+(DPWY&:9*"H(= *-!Z_,BJ8<>C;(]5WFW68?).<(\U$@GY*(H3/TBFP>:
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M#(PHRVH6RQB:%L9)M>2.;#A8#D-N,/ZVJZ[E7:,25].+9;Z]6XO?ZI#W4'V
M(Q"E!  4ASZ*LM /!%0.89JE,-!ZFGH6@(XSWY,R7CV;F1^'0*&(1\^\QK4K
M[]RY5D2]Y^[I*.>"VH+F8+G49F Z-L[5 MR.G1:CI#)4SM$H%C8RSD+!I8%P
MOGBHCGO-82?R\"!&X=;@E_+V[E!_)5^^_E+<7\M7TQ,,<< !(WX,0X8"&B5A
M%F:<!Q3%"=,9Q,9;<SPBM6>_SA%Z+43O)P&R_IOW>XM3<T2QP++:\# MP7I:
M/YY;)UK]+F4#PFN/[F6HJ$5_*E<-4U/?WGR_\.P@8?KCU5DO(N\0_?51HOIT
MTWRW)H^'NVHO*^JK@#*2)#B(0Z'%8MX1(.!W.+. H%A+#R='YUH_&SQ>6=?R
MX2YYWTG=]/K7;]]Z/Y4[KVY^_&^:8CI]2!7%=]'1U!3K2V_7GI_!O?[AO7E,
M5_ITY;5>R7WZ7:LX.3:QPMN.R]"(,%L;6,@(,I__+T><F2.A<JFT,<;F?SZ6
M-\4JYED8ID",F5A><T-3'!U!4> K'1&:",HDN?L;(TTN$7I; 5']*N0I(C,\
MJBPP*),/(<T?WL?%14[]<NN%1=#LTNMI(JER(_9X.M\8NR>.T_PW:$_I;#5+
M7YAHDMC\SS^*^G#<RP%7C/D)C#G&*> 1XRG#).L@LA!AK:LU)@4V[_#\U(+U
M'H;W/"T@?HXG@ZY#-],@WGDTRYXVF[%P,?<;$_*_^+1OE.NV9GSC^9^Z'/F4
MEUNY8L2K_=_%[QY6?NI#!&@H0"<"G9^").SA)BS(YJA*:H.<:02ZZNJ07MXC
M;BJ7MQ+S_&5*_5!/6ZUT&N4%%"V?M8G&P[_(X/5.G"8H8AHWC;_XH&:-!D<E
MS9%Q<3[8?7IH#J(WV.H/NW9(_H]"KA@6&_)4[//;HOFF/#-ZW&RQ(F)6&+"8
M^9&?Q"%F@*2L]R(5_ZRW%7UIZ)UO2N\A_IRW&-L!\.>-0.G=R'U:3\T>9CD@
M;JKM-M_7<K+6#HY3C8VN6H;C(7,!36+RD;3S^:H=,VM/-)O6[RNO]]SK7&]_
MI#G!KW+D85G#K%EL78R^CEO97WQ0=LV.K;%ZDBA.-82S[\5^7=;%T9'F):X/
MN\.^W-7ENH6>0,Y]!GB69BRA <7$/V8?48*T7C9<!&#'\]@CFFY$%I.5JD7?
MG":2F^F\HO-CJDJJU7A/,QI/'NKYAN"CJ^>C\*D9_06'6Y7@.1QCK;:=_S,&
M5KN46!Y-'<1+:PB]?A_Z]07HLBY=O)C!KZ(8,X(C%*08)CX* 6/=:(_".,+Z
MY=ZI 4ZQ#]62>+;^O2X-&HRLDS<#C9%TR2U@OI%3._CN1DO+ 7IO=)RK/?SO
M]KZMN7%=.?<]OP)O9Z?*L\,[B9=4 02XSU3-[<PX>U=J54I%2[#-+%ETD91G
MO'_] 7B1Y(LD@ 1(:I)4LN+Q1?CZZT9WH]$ 9A0-)Z/@O>@WK3[&C79=E-XM
M;^V%[R$_")(8!F% K=C%.+$[N(X;*EV%/QG(BXMZA^N%OI>13&<28T8_P]8P
M=014-(091\&WBC(>"0?8QN\4#8?08"0B#M;+-#NAB\BS7)@@VW5L*XQCVT\B
MMP,9$Q)/N=%Y%ISQ?<SC;3[\C_B"?RG<6=OQ4V]Q\G^.W^734[-3;%1J5>F<
M]B';9X22O+AE6;6=9EFG34VC;2E*V\.,@M<$PAO=$%34@?% )6XPK)X_;KB#
MK0\8[=]3>S?B+B!Q \1#;!1%V$L<.XRL_>J36'2D$*8;]JR"VU.3N8\?V[0;
M@^&H-Z45C!X/&V'!@;2'3X0>7?9=2&145*6)F&G*FBX\FAJC15><-:NWN47@
M>@-TWS[$38'P%2Y$/G*BT(5^&,)6F,"&@=+;)3,58;+3)97 >=A"R]<<;Z+U
M/$.SJI7,*U ;-)!+"=L35VM'5_(, GI/J_N?%=[[DC11L!^D4]G03Q\>U_DS
M8S]8\90MV?NR?<DWS;JN%J.L@1W^7+S.^"6O_I-5^U=@%H@X,42!10BB7A(D
M/NH.LWJ!1Z&M$MVG0VDX@-<@P59<2-Z])_7BG@+6O'FI%J@GU*E<++X,=?8/
MM[LPNO<)5V G3Q==ZQ=\N03@F36723<R7 'TD&_'/O%I3"4G@N/T9C"/^#<#
M'O*Y35 #4>PZ_879AMUF5<)5T'7G?KVM%U%M!%[$'G%"B,*(X#BT8^3[MM_A
M"R*H]'S">*A&[/%YU[=UL,4JL\%\!;A@H)7,0/C2HTR-X6IT/6H.3WU5.%TT
MDF%\:/31JM4+BC9ZY>X370PP+UT.3=>L?BCZ)EW^>?!*_1=6?2OR)6.K,LDV
MZ68IWA/B/WFJ'UM86#2./80"Z,<(.11'/K'%(T&)Y2"($Z7080B"Z3C!48,=
M;'" N^E[Z*!?@1UXL$>O6(TTI"3):N+T^E'T_V948Z:*UXO<4U4XL]J:AU\W
M+>3K*M@8G,IZ[-V(G!4![.MM75K[SM(U+:NT8@O/BL/$=F(?0I?XG@^3*&['
MQ8%C)RK.>?AHAOUP!Q (*P'UU!=975VZ%RA! U/-X6K@6,ZWCDNOFAL=RJP1
M?WF6L!.N41_9\_""&N7)39FEFF_[E&_NKEGQ0-A-]3FMMD7M2+^SQV855WZ]
M_59DW,T^BK/%7]BOZOHG6S^QS_FFNB\7"?(=Y#@\(T8V]B,K\&.OPQ1;GI+?
M,XO$L$_D<\<&?[&/MZ,9F9J#*#LQ;<=1Q3RF]$BRYE,8NT%7\)\L+:Y_Y@N7
M1MPEN9%KNY0BU\68ACNO9&''F >0!6!^XCLSGO0M2[KFNBKI%SC%E44<,K/[
M\6EN0G,[90L?^="*(A\2&"9.Q%$1U(&Q(R\R.Z6E()B?U.[<)[7@2>NT5B+^
M4B>VFI"#IW8/3HU-[H1;^R(D,0WM$"$WPG'B) BCI,42XPB:2]BE$9B?VM[,
MI[:@2>?,5J+]0B>VFHQ#YW4/1LU-Z^R)+?B0GD4B2MS(@1B'L45HAX7#<\U.
M:QD$YJ>U/_=IS6G2.JU5:+_4::TDX^!IK<ZH@6F-;KG][^ 0"P=!&$'?B6@<
M!;%KV3LXCNM[:J=*C<%0F=Z]3HE>W[."I0+3;*?Y"\;TS/1^2KBXR=Y3S/[S
M?0BOQH^]?<HV[&/%'LH%#F'@VI!X?IP$2>!#&%EU PH)?8N&XSR\)P]GQ#[!
M7D>.P!]"%E +\U\CG4Y34*9D;\B\]-B_3]"@"N=U^FM'_*D>DO&T.H_H,*;
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M\A,ING_X_]DIL)O7^\DL<H+-3M/']VS%YN_/^VQY7^<"K'D36NP' QZ^1%;
M@:V?07ZSSNJ\'51YO5G,?[?II\TV955LF^UA_K-TTWT(AW>?@_NTY#@J\,PJ
M($@O;S.!IWES&BP+'FR*+ 4;MF1E*3H"^6?<I=S35%FU9N)? E>]H[Q^%MZH
MW;WFL+>;;)3ZL[Q9#$EC#!C?A>0W)B1737R,L6]H]_8\3-N#_'_#R(U@%,0A
M]K"+.I@XB6*#V[O#P1G>_Y7-AP[WAXUG/MH5;&0O>5S=CK79/$TJI%WC1C>M
MQ]6\F:0HK9HY#9JISI,(F1RISG=6;S?&1]_[-IJ F-+VA60AQL0?MKVN6P^&
M]M_/P_1(Y+D$QR[V;91X8>*&?@<3VI;4&QV3@9M)/G*PNV\\'=&N7R.= ..J
M=JQ6@6G2$>T:-]IR,*[F#:4CY:[YKLE(^&RNTJRNNE:Y=-6F6::PNFXB*C1B
M4T?\WJE=GBMQZJ<IR#1EE;8B4XBR3M&T^U\)$ 43B%Z7741#/DB72QZWZ]KP
MSZQJL(C+/7>-_.E>@:.W4QC-E4R9XH7D2L;$']:QH5L/YEHZSB/U0Q<%_'^B
M.+!LVT)6&.^0VDDB=1_4E/AFDC&];!@QGC294+2IYI)Q=3QB]\DTV9,)U9ON
M8AG7!$SF4+LTJ,FC3C7$'/3#B(TI]HL5RTP8&L]M'K<53VQXUL-N;]GR9 (E
M!D[%(<KMNNH0Y,OEMBB82(CX=](Z&<HV:?U7[$G8;/G(T=1;8&*+B_^)V&4K
MTF6U3=?[@Y;=YXGCDU.TXQC-G0Q:X86D3R89&-SQHUL;4[0$N0FQPP@13!V7
M)(B*&[<[A%Z2Q&U+$-WH:IG5B$V](:@3PV@[$&N[@OKU OV^>_&RZKP0UV1"
M<H-[\6KLR][:]7&SS!_8#YZHU)@^":4)F+^R<A%[?)WH.!:&,7;M.'%M"B'R
MJ8N2Q(-)HO;._)"15!Q%KZ?D&W!@APYT\, ? N#(%T:=H.J=J:Z3X'E<#:5%
MDER_^6F96B1_2+/-PB)V[".;!E;B!CB$,0R=;LS0<GPMDTMRK"FG5P-Q'A.L
MP:(^Q11IGO4D4Y5%;IKU8DA^HJW8;;;AF?VG[(FMKHMTQ1[2XL]RX9'8<>/0
M\2.,7.QY=NQ&]7B8YV,)]E4NF^P_BN'ZX![8AQH9V$-3NU!R (^G"W?C4JA6
M?NO#GB&?=(2<D_YH**%S\46#Y7CCA_0P(^N#\+;,-JPL>:Y_4Y?!\LUWMLSO
M-MD_V>KCBKO"[#835R^CLF15B9;UUN,*\?4L_[9X(3EC97U-.5\OU(6UJOE-
M_BDL>Q)_62YH0ATGQA:!&-($QPC[5@<=QY'21>&S &S8,W8R@@,AK\!>3' H
M)VC@@T[2^K:U UE!*^P5:,5M_Z#^P$YB-8<["QU(^NY98#47!F9D*D:BRQCJ
M.Q&H9F4]\XAY\Z(DG_%LER^NQ^EC5J7K3TR4W9H!/_&YN0@3!UGBSD&;4+[.
M" @.PW8DV[*0+;?8'C*"\27VSH'5NBBSQH%]X[]]SZ&";X7H>$+K=;L@NP("
M]J B]A$JCA2CAQ(W?5%YL 2Y/C,:/"4^/CP6^5/3^[;P P]CZ"0TC*(@H$',
M\^!N5!P%X>#IH33:/*<*.)3!Q+PY_'RU.=2+W=G.IW[2G)]; UCJ.<_P-EN+
MG<22C]Y]_0)%' 11A*+0<6'@^A#;86)W* )N-K*-;R;&'FMI)CL'=P+5R7;W
M+Z.S\AR'\K-4FS9F.6OU27=Z%FMFL>>L_IPN[[GI%L\<A7AJZ5&,O2"197E6
MXON$4ASXOH,0ZH;F/Y-^G$/;@'.;OSLIZOF[DT/WG'V7+/F).HSK6<[.@2*=
MGI(Z^)(ML;XS_-^*O"P7-K*2P(O\Q/$]!SD13()=TAQ:E"RJ7/R=5)FK]R!*
M\VV'Q]Q\^U;DXH3-,_]J+7I%7\PZ4,L$_M*\7M'*#&JAI1N;]-2ECO%]HI8T
M6$7SJ/\,%R/7;+J#PB):+K</V[6X-X>P?2/R@CH1M8@30BO""75M-W"ZF.PX
M01)T%WI>]XZ/?4>6FK$O;_*\'B%0'H@##N71'2F/T"8?*X?R/LMH.5BHT_%2
M#V<]I^@75BW<V"4D")&-'0Q]/TJP3;N!(AA)Q<H!'W]949)+-"Q&RLY%/I#\
MO%/A>99S3$F T_-)G8LI-O0)NV4%_^%U^JOY[05&,'1#;"4(TSB.O9AZ08<Y
MC*#4C57S0'J96_B=G( +VOW5%V[,S5;5=+OX/2QE_.U[LT8R?-_>B'E<[G;]
M&W6-M$_?WTSFL4";"1<&=^:':FB*6'KPG46 :)+X46CQ]:UC>:&%DKA%ZT+;
M\176EE-#'7DQJC>:'GSS<MWDP7=&<I!][./W<XV]6##H%/MK1>KX;Y4^/))M
M]4Q_B3.!;!$[&$?4QWYBVQ!C)R)NUP3E.B20O[M6]8,-)^XU'B  @1:1PB44
MRB2=3H*-\Z.6LXY+C<+%&B8IZG<CA@)54N>N7TEXI.C2FXCIRRW]H><:#&&Z
MM'"_>#_XV:=\<\>SI ?";JH%)A'/:),()1 Y5D "*^HV);W8B?#$R>)P 2XZ
MA=R+?_ASGEIR!CZ(NV6 X.!RL\NSZATIY]1G9K]?)JJ1&X/YJ6X-RGKK'\M[
MMMJNV=?;_<T6W])G$=/K)PM_B$NHOCX*V4IQ8T5SO%Y@;KYW+>2[9K\JS/7W
MYX**BW2<P.:1Q8H"SR51B.OK+&Q,81 E*A7PD:&9SIQ;:<#76W#T<KB=&.!S
MOF)KM8KUV*J4*U'/6(N*^7VGP+Q5X(>;6H&M,*"6Y@K4\H!6H*L#C1[(!/ZH
MI0)"+%#+-?)-"7J5<B+(3:3]>42QJ83/9S$#A\>A0]=X")('T/J?Z.!JQ._U
MS8BU/&A994]9]?P*-_1#!U&/$ \&)''MF$0[W![TE39GIT<[AVC5" BX@,U-
MIK4\H!-H>/ :6?_]X]E\5:\8XMX+:_NKS:XZC8OU7A/G#B4#W]OG>CNY9AGF
MM.I*,?)-8R?S#883\2$1'Z?4E)&0^3ZPF%J.ATA":!A;Q/5]RZ(ML(0$2.JH
MVHAPQ@IZ^8F@UT0Z\S&NI\(,!#'SNC(2I2XU#AD--,-T>8&19*# 0T*%#J[5
M8\'N[MGO_+]%MN1?U:C^0SQZ<P23$T44.6'$EW4((L]'T/<[3 '%4;\P8 +)
M')8]>W':)+@6:'!,,*(XU7 PM<[ZE^3VC\*?T<^,HD$/MJ4"@4DMSBT&&)7U
MJ/LWS["LY_]_V[2HQ-/R2;9)-WQ)LOZXN<V+A]I7[0='7N [81@B$E,8)32.
M:5P/[EJ4 U*Z,U73D*9].5NSV@GLX((=7O&23JKFJ'7Q+.>1)Z!8S?6^1^H!
M1.YDIW*O<M2=\*.:N9^'P]0M5&[47C4^O(*?W]_U."CHI$7Y=?]0R)?MPPTK
M%B'UK3!P71)%2&R[>Z[M-0\S0.3CQ&I?8/E1<<$E^CBG@JGB 5Y+).T,:J3E
MR^=6;MA=MMF\?G&E>833\#,K/;D\UC8XM>IFT'XX.04J+[",HP]MKT+5C\+L
M7Z]:V!X.+8H@I!3Y06(YH6-W,*B% _EK^XP,K^)0>MWCUSF3YDW@E93;&(GY
MT[G;+"CO44J5>J6RQ;Q_HW)J76A^6=*D3OH_&[FI/=/NB>T2/*0K=OBF8_N2
M(]?8T=<B1WA^\15Y?0/I$#U<0) <))[J$V3#>)0[\\0-[F-9;MF*U ;9C%2C
M*U_OF7)$M'NF=&$3# /LT<BC?N1$.+:L]OE%B$.7DJYG7R+"&</0H^V^7YC;
MO][:+]"9TX)$M)N6_I['M(2?;$"#!G7WZG*#^V4'Y[Z[:0=^%LI1.?\U!R7U
MBX%?=O&OGA@@;Y4B&I"./X^\GU('D;([A])$S(%!L2^E1T^FF5;1#,*C>1GS
M,8U^]!)5^\[QE@O OT-_/69%_4'E+L9;;DPCEU!NKCA"(;1ID+308R>Q;(6X
M.A?(HX7AV^X5:?&(.A-(C2T]1U.WAN7JK/1L;HF+GU]L][\XTO$V$S@0M_[F
M@<!&UL>C&8S&-?4<#:=?#L(Q IYCE-T?ECR=2"NPK _],2!.L;:'_[@;J5XL
MVAO? 9J[!N5RE_JS?S)NBDM1-%^O7V8Q!7O,BTK\JUWYI_P#^7?+[;H2(^;+
M)L]9UCT1Z1Z=> #]2=AT^<B'O,WXQW+GQN-V5:3+:INN07I7L.;&=?'959K5
MQ?LJ;^H,G!+A&6MXK7LT7%C09$%FJ_KZ#'@&&=KL*-%?]=>MKTFW*-TX)A%)
MB =1@FP4QC1T.ZA>Z#OM%B7=C)?QJ8-4WZ#LY!FT/<G:7<K_W9L<I+7?QFL-
MH&",O4DU?8SHE=J%L^AT:Z$23$,8$VJC&(8V)1&*HA8JB1R()_!*ZB!']$IL
M#ZZ/5YJ18D=;;YK5Y^3KRP/Q0"/?)6A_],6C62O0L6G;KO^R#5]%_;S/EO?@
M=KM>/XN%U&/*EW&I^$?;M=XL">46B8>)#%\ \I'$&JWS&N4]8Q58I56]A@0W
MN]HW'VPI^I8+,5ZS*.W6=K-8R[U1J-FLI[_]_#99SP *]&<]0_4QS5KL'TS,
M2;9"?%ZE=ZS;2*@?I5A0[#I1F, 089L@FSINW&TFD)"$<.HFTD'@1VDM[1!^
M2!N(N\T]\"A RO2<KO+UFHLMJEJ-1QX_F=)F+Z.E6%,8R>2)UX'0H),:M&+O
M]O^;]V8NUX1&S].F,*7^V=O/3N^=PZG]S&&:M7,R[3>>65H 4;6O,[RF;95G
M?2+W2ILK_^I?:Y-!L9-0//'/O^598%:6V]I/O<S&ZI])I8*SR-LD%3Q:#4N+
ME?TV.9YV8HS6NS3J;L1\\%6WY4DA$IA 1"CR"/9"& 2A[<-.""NF6&-___C@
MC9\..)L/'AX;F$'FI]4R1LO^IC*)R3/ -\<<9I<':C6HT7/!J0S+9#[XMNPV
M,!G<G>:0JP:F@N8W%;U372.SR!H53,%LYFC")G^;[-$(.?HS2',Z''\OE952
M8A O]$,7!G8241QA&O"O.C&@XUJCYY%ZX4^?2;X\F3.#7%*S?8R]73N!84R>
M3^Y$GW%&J=FLIMH'GL"\]&>57>*8[R]:/I;X@?M\S?.'LLLK5UU2^?.>;;J-
MWC8#S(I7&65>G$@HZ_WJ%[W+%Y-4*MG"*-O+FLWRMTDL#=%C;%O:B![G='SL
MI%@N=&)H0<^Q<40]-W0BU/4?TM"*T>C)IEEQID\^CYY'FT$>:MB4YG-L;30;
MFCQ/E3K2-KO,U; ASN\XW&@&V3^S;<_%K=ZFN"]='$C+,A>)I_C5K+I7*GF^
MO0&G/IAVSX<"G,![[AO7Z6/9>,\;QC9[?SJ+-'60HB<^T:;%!G^;-'8DNB8X
M":=1SS/LS SM@$0Q"0/7]VSLP<BF79Y.+8B\:<_.#8(^PMD5I:[,=PZU*"2Q
M_]O'-,P*?AM/JYV8Z?J8U'0WS6F^DP) [+FN[2<Q]6PKCKP@\+O&?.J0.)IJ
M[VDP\.D7_F>. \Y@^:_-2*8X+SB:=4R^I#\\13BWA;LV$YKRT.%HIC1\FVGG
M;49I7FI/--;;0_5FTVV?<XW\-_?G%@^]XKQ/+DZ^X:3--'^;S%$[,4;//FK4
MW2S6W=_90W.75+R_;.J:%0\+BCUD)8E-H4-#)TPBF'3=_-3W0JDGB>8M@8J3
M[_'"T9M<LNB OKC82]P!=G9%+@XQ37#+A FSF<$9R5$LID^&>2.98=X,/BZY
MHP <<  $";^%D<WH%.4HQJ:SU:G9L;EAU4^Q,W,L#>56QG95Z3K'3-?KIMF]
M9TKY,G&\:M/<A_19W)'!Q^*"E,V]B"E8\0]ZX ;[E*ZWK!Y]?ZU'[2MGD7>J
M&\54Q<O!1OK;9*,F.1JSI*E)H[.H;AZ5Q0FA14EDD<!)(A<AZL;=60'JA8$U
M<HYJ0((YY:AG:I\3Y:@FS&8&I<]1+&;>5= 9Y:@FC&Q&Q=%1C&TN.:KA^N=?
M^#!=>S__][_^AGFMNB%-55H=;-B_35YKDJ,Q"ZZ:-#I-[?4CAYQMRFSY=S&_
M%W&"$0DP<MU0/&GC^J';MFDA"SK^Q%U.BF!'Z&M"=W=%_8J,. /58&L\Y:GZ
MZ93U+%5]3U$;-:CFR=/+PQ+H3DY0"WI)9C%E-=.@>?1/"*N\XDE2TVP#5MGM
M+6L>5>D2PMLT*QK/L-M*K[.P];.PA),;Y$W2>-CT\_K!E:&5S9/[^[/([XZJ
M?[3R9$^K^VVR-0U4&"TV#M+/N=QK6WZX2]/'P;#_7B_TFO9YMN1?7N?B6V\O
M,@Y]@E <)33@D.W0COB_=O"A'\B4$6<'VG#EL!;BPYD-RYLV6G]X9\/RJ@O7
M5Z"1N7:HG=3"T8IO7QV6B*Z4[MN?G4;.I'>SPVLXU9N;\;P*L*V\M:RW:7E3
M"]SJZ-]$Y/TWMJ[*[CMU+/Y@V1_::#RV,M^)S+.UIVFC]'QIR6?N!V81O64/
M<41N["0^=8(@@9;GTH00V@GE0'L.,5V7*+]+I#_@XTI/3_R%*'#:Q& *,YQI
MNJ#% B\IC^A_IG(>P*2-\K?..;23-4XF8D;'2OG)S7FA;G0)=6SGREZ@""(;
M1LCR<1+XV",QL5L!;8+]6#E7N0RQ_F?D+4.[6"Y0L2KYS&5(]-OG-CVLU%R>
M,PN;.)?SS *DM.'.*/^Y,.+>RX4N3(29U6UV;1RO=I$2CMVUH LMU_43'$34
M#3IY8@S5TZ!92O%;9CW[SIQ>;1;SU]IL2C1CF-TE9##J%G>A=9DC"I^T)#/4
M"&>4C<R;I]$+,7HT.\VIL5>0J1U":..0^@2B 'N(0-A!YO]P)NBN[0]VVN[:
MXR>_ICR)HZKO*4YU&51SG^[:,U%:[8*!P\-;4W?7#C"+*<]A&32/B^FNY1\Q
MVI54[<,ME]&&>]1.1CM-U=,\?YLV7 U4&#T;-4@_L@6A3WE9BMH3GV/<#62L
MO!9#+V@0N=0CK@,]*TP<$E*20,2S1.02E/A0I5K3<PC#I12!"KR !?ZH@?V7
M6E6C+X%R)8<1N%/+-'K09F1I_CXQ)];- YF<QZ)VJ!"Y5NN27PY^X;'_GL?R
MXC.KFQ*)6&(BZM@H@:&-O! E<3L"I:$G??V<ZN<:]BD[.."/!I"D+^E%T?D%
MCTEVU+S&J,3(I_PF">J7H2L0)9.KOA+P2&K9EX;I,\'>R//A1B#O_9)TO2[C
M@K$_VR%LFZ=PQ$81#&@8)=2U*!\B),0/;"]RL:S[4_Y@P_ZOQ@-J0#TFNCI-
MYUV@48;4?.#8Y,B[0:,D]?.#2F3)>,+7,AYQA;VIF-X7]H>>:S %>6_X?_/J
M/GUH/]X1'QP%%DQ\*[ B&,6VWWP\]FT;27M"I0\U[ 4;+#WFN!HSYYV?,5+4
M'-](?,C[.V.\]/-ULOS(N+E#T8ZXN%[23^_>^L'.!VI]8#$-/W])Q3-O7V_W
MWWY&O[)R@3V2>"CD7C5Q$Q($ 82XR3(]RZ*!.ZC UG_8\8MN-\^@ 2OJ]0=P
MP1\"\-!BW  %]"S0C</]H*+=CO$S%(]3N#M*F$HQ;SCK,RWP:1#L7-%/%W?]
MO&0[.,E%(^PB2&SJ)"B*PB"FD*^_W1#N1K2=I+];5!MG7#_X?+6;D0V^06Y/
MD=$^?LX<F<,<FSR/(_BV%R1).[-^U,[1>_64Y*2[&L*.S.+T'WGQ)Y_.+[9P
M-ZN_L0TKTO6G++W)UEGU_)VMT[J_C@,KJV*[;'^/L">VSA_KK5W^O:>LXNZU
MRS@)"FP8.Q&-$P_Z,5]66RU6&\44R:YTIT-HV">V@OV?EPU,HN^C%0[LI .M
M>*)[^%# ^K</1 1[&7LL/R>TA?-K^\LP S5O_K\6L+< ^6K&95A"O])(*]M4
M!B%3<3%&_Y'RS?3JGKX6- ,.\CE-0+G\9L6RQ2=VEZXISZ:J9H7GT22T'>PD
M<>*[!'NV[=-N!.A:4F^L]/E<T^LK 0<T>)0*2;TX.AVM3=.CN&)28.:=-5+9
M+9)*MOSK7?[T;URZ9GW$OWB]+'I'\G><VA!^IG5%@Y#GPZU#?MHW']ZNFAS7
M]MP(0XNXU($DI-3N5DUV&+M2*Q'E#S4\X3N#5BJ?J#-S?J8;(T5MFLORH6.*
M'XI\9'[W8F7ZR=T/=C[0&E2VTM=<ZZMVO[XJ\L><IQKIAF0\P\B65;>'#RTG
MP4Z('9OZ40@#-_)W ^/(EM]DUS*<\>WW&F7;/'*($W1 >^U%ZZ%:9M=^=)95
M]_/G3+!*&\#H1/=M$-! N%SW@ PC1_L*M-(Y_2I3MT"Y,=.3CQC?V>K'G\_?
MT\WR_L2XR$<D<;$;0<H'Q[8+4;?OYU@(2=W5HF\TP_&"@P0<):AA:G-GFH@^
M'R[&YU@M6LR:7OE@,3[-_6*%%KIE8H44(4="A5XRIX\4FN7)39F=?)P@[*;Z
M6-<IA0E>WV?%ZEM:5,\\8JVRBF[NQ9%J\:-R@6(2082P91,<<!-QPOW@Q+*D
M6W@U#FDX8C2(/K &T@K<Y)M561^#%[<;/>3;327OR70R?3Y:3$2R6L@0(,$>
MY16H<8(:*&B0@D.HTY M'SLF(KU? -%&ODP0D6?F2"0Q0.WTX<2$4+E1<U1L
M &25\+I?;YL1#R^HJIWG EHA=:CEHB3!<0!C+W3L;ECD!Z%2%^#0P0P'DP;%
MB[M.L@U8-ZA%3_2RQJW8$#B8X=.A9!)R53>Z=@RV7NOE#8.GP[29]L S;)WJ
M$=1%]$P:!;6)\[I;4"]/4E?=;0M6/6.1 QX,MR 0BB(-%@>(71@$,0R[VHWK
M>$2JDWG QQOV6@TJ4,,ZG%@*5X/UI.U\CCL"8VJN:#JR%&X_,T]:OWQ4F3RI
M.[S>E?9(CCF0FNGSR:$"Y-K,1"U/_%K=L^)3OKD3-Z*+K'616([O49BX0<2S
MTH!"QW>Z<2+/DKHWIO^G&_:I-2"PYH@^\+]^ .NV=2QCDBO< ;S)I7MF*5-S
MJ@U;GW9L"3CCIG-OV#B1O_5G;AX)VP#\N2X;DD_):%EE#Z+;,F9ETY!)^+]X
M4I@^9E6Z_OCP6.1/]1(W8:R]BZ]<6+X;.[X-P\#R8@<&+O9V3@S9H=2JT]SH
MIANH.M!@V:&N[\JL5Z -<)#MD8-;QL!C>X-L?K/.[NH_D<]H#*GH?'8XO7;4
M_-Q>,3O 0" &7_G"ME7, 6C 47=7^RH41@VI0S[_G%XM_=)3(^J126%[$78D
MPS5+_O0)L&'Y\K',6.'"Q?KQYZ^WS>6RZ?H32TOVG6W8S^9]H7)!B1-%A%"'
M(IZWNY&XUF<W9HBEFP*'CV0XLC4 ][=.\PE9-/" 2!P5G*0&4L_'IW'Y5(M%
M+97<M77H0 T/M/CJ)^7&)53ALL=1B>UY_6-?6Y6Z#/(< 4>B@S[BIH\$&F7)
M39B6ZD8:'P=M5M^%H:W%LR^;DBUHXD,K1H1 )P[LV$V\L-NT\T)J*^Z>]1G!
ML$=O? YKP(CW2Y;K;;UQQGZQY9:;UC-8YJ5L^CN03-F-,M,\*E9/'EF1BCL5
M&@=>7@D77H$6V-C;8N]P<W(O; B7\ZBG#)3AS:[7<$;DNL+*99'53BZ__<:X
M:?'QQ".6FXI[N-"V?,Q'"&,4$2L05ZRUH]E8;L]^Z!BF"[0G)\W5_B*:"C2:
M4.I,&D#M^:QR+%;5O- !*I'S[''5_(U$GDH?US@D]FW<ZD6F7)O64<&/]F4-
MIVKZ;%&+%+E> U++$+^S)[;9LH2+U;TP_(^LNH^W994_L.*:_:HPE_;/A>W:
M?H"=R(T#BDD00-=WZM=E'-^-?5?J(@#M@QKVYRU.()2^>QD=_.1008<5_"'0
M@AJNXJ5L^JB72S$G85W-WVLCW$@>*DO@B=14NP[FD:WJ%RLW;+MJ7O+C9LF'
MN4Y_T5_I0[:IX^XWQA?R8N^=Y]4?-]R[L++J,NL0<M_L66'D(M]QPS!V*8Q<
M&)"09]B>K]2&H'MLPSZS@0LX7G  ^ KL(-<7+G6@IUE0*E)Z8CZ;4LX\IK4Q
MZ?)Q3%QMDO_'IF#+_&Z3_9.M.!;,-NPVJ\J%33T/1RBA?,@DH+8#?:L;S7=L
MOWU)^$>5%I7<E.X[DLK4?0U*>@(?@@,5G\8W+;PK_M5=MMDHO_\[F&"Y_&8,
M5M72F1=4"H_881K7W1TAYH1;&TKE/-S78"ERO0:FQ1UQ7UG4Q:7OK-RN13E)
M)$7?^&0OOM53GO_NM[S,ZC=#%U[L8\NWL.='%DG<F!#J[J!1.UX\L>(FETU%
M1H&D,AT/T4O/2K1:-5#JQXF%AWOLP(FZR*/ #9Y96LQCFBJQJSZGS2AOU@[
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M?<XWU;VXQ9U&L85L# GQK9@DV.HN=/(#R4?/1X)BN$IPLC)W5;\#N7P=3Z_
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M5=?HV]Q0EY&VFC!N;=OT4'XK#[-N2\NFAU%+5]N:-CB0<G+[*9_>V_SS_-!
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M4RVH%"+,0A:!:MP(T@NIKG"BKEYJ^B3,VM3UKX.O<2MSK[:_:9-A!9%%2'@
M)*?2"H+7;D<\@G]Q^CY68V4SN+6J\]7V]7Z=/V\3YS2/L+?6!0\$,8R,HM78
MG4J[X>+"=)Z 6W=[0R^F+_WXVR#F-5S=//UZ5SW9XQ^2:6(]4?'2.!^P8(Q)
MJ2L4@&/XLM8"C>\YMH3S>=BV'GR-[<B=O3+FH4->"<'C'?620\SE1DZ(+NS(
M;QL$V,NQ%+!/7'.Z^X=Q^9CG?ROC\NI6EY/1_MC2[@X9)IQK%7"&QK.X0&9H
MO?XB8;@\)=#4>W:<J+JR!6!/9,(_RND? 313WL=[1U8*F(Q^R2?Y=#"N\N ?
M/^3CY3439;PN<CY=#-?M;/XE'Y</,6M(A=]]6:;,[R52:^_+D%4L!@*$,YY(
M:JQ4H((K9F1?AL_4%@_[HI=ZL^2KDNVCO%C-D.$/+R?&\*OL?7X[&+L UWR7
MG[6E54:<YQ!IY(V/B2<$0EHM(:#$("4?HX>AMH8<J70@6^+ :CP[/:&733*$
M(<%"2V"Q0S+([6#U&4%N<-*-P_W1?I*ZRD:@.SEP/AX/)J-UP'X^+1_*8*,&
M$UL$TU0,YP="ZG4Z9U "Y#7B&D%'1?#TL* ;0;1(V2_M&0=.TU_9,J(G4N-#
M/OKXQ^.'P61X=S0S:O7-%%768XV%=$$6#;%4E>N/@%(7$J%IA!AM -K9J>&@
MG3RZ->]KG$1_W3B3#@?')Y8&5UH;H[%UHI(*.Y6R3\/Z0Y.60C')>)YH/6)"
MZKNE?QM?_NFNF(ZN!]/Y8S!MHV+N)G>!RLMQ[2K"7O\!F3(V"* T@%:S, K$
MGVAO ;BP\P$I&BT[P+>S&%T^CV!?W:Q&?+68SX)%'(7O1MV7B\F^4UJ'NF82
M<(?B_;O>:\.D(1S!2F)%V87<$]0@HUI"]M1*26$=/W]<QH&>C6"'H=G>.+-2
M1F=*Q\1#+!DS<0-L-5",B$T)V/8P.Z AH]((EET9D.7EP#6OQWW5-O, 4>*D
MQTP$T\B<1%7*8G#N"$A)^>WA!E&#)B(5RE/#];-Y<1\#;R:?K6)S-OP4#-7@
M(7C2XW?W#]/RRU)$GU<'I'?Y)B<]*P,4&T2AY"S>E1L6;9ILO@(%><JDTL-(
M6$,6I0NHN_-8!K/<?7THIAM!X%XOY77S#(9EOW+2" BTI)YIK#>2"6M2#E3W
M<#'4J&>2C.:I1TH6<7%^=7/U$%\\&"]'\B&?Y'\.QM$&[K(R!_MESB(AK T.
M5<!"81$S:S<TYTE74/&+)$,;L)[(BEVOWT&&7<TS[@#77'@KM7*"06S,^J0O
M(2[,J@D<$!?+@8;0['3B4)/1AZBD<3!B^62VMQC'MO:9\U0"HZR5R#!HL">\
M6L83[F"*_R$ODBE-PGER&&TVG!9+MI8WU_ET&(=P&RF[;;5RH$<P;!P"JL,P
MN5'" A;3]M=#ACHIK '!15*@642[+*118U'[S2*,$1\KF#* ,(#<("*?+)\U
M/JE2SV5&41N \8D0;5<'F\S*<3&*"RD]&,?0[L>[/)^?K^#6!O^KF\VM4]?E
M^G#2X3I;=;IGTD#O("0\F%3)( +"J^4M4A(YPMD9RP=NAG_PNJ)O&F;0,@48
M-]IH2F&\KM+3M43> 'YAY;2:5?*NC;%3D&WSI,-F8!_#1#.8%N6>PVQ;VV;<
M:@"#U0'<&V48M=JZ2A:M>4K-]SZSY$A%ELW"V"HEUL/Z?3)[R(?+>LL[4[#V
MML^8!,P!Y0&1VEJ*L*2FDDGZI&(W/:)& SHMFT>S\WP+,Q[,9E<W'^?E\(\#
M)V-V]LDH%A:+N&?CB4=$6VQ0)2-D,"5_L\];H:<9DZ;A[(HRSX=Y\)C+Z\89
M"M @"XB"3ADMN,=T_5D%+QA>VC53#6CW90GB5$C?2BZ7-40! "" %AC(B0;K
MBUV#5$R:E%W3/N^J-V1-3L6Q*W:L+X$XO'S[MF'F*3!&&N"%-@P0ZP'?2$,-
MN[!C)ZTN:Y*0[6RZ&<SN8H'D\!_WST7Q93".N[9J;@;3Z6,QN?W[8+S8MRJN
MU3_C@BJAF9002N%PK"2UD5T'?"]K4CI5\2]GHA:@[8I6'_)5-G0^2B78D4_*
M&-=:0*RT\ $/[24AJL+#>'MA3G)#5&L7Y,[FO.$P)C;./N3#/(P\S/._Y7.S
MF$ZW;]'4Z99)!3T*_U*$2NOCS:*X0A0:D[1/TT,OJ2$Z-8AH5]QY-_D2!E=.
M'\-(]W#E>;/,84,@5#&ETBE$K'$05)( :5)N,NMAWF%#W$A L--LU)6XAZW'
MZ\99W#9F5AL+!-(&*6Z9K:32BJ3XT#W,+FR(%\DX=KNRJC&M?",+ EIH2X#T
M$A.,.2)*5K((CE+<DN.3!<OY8/P6.)$"85=TN)Z6#_ET_G@]'DSFP7.*7M.R
M<L#^B61?MXQSC!$-5A$ +I&W\:;<2E**4,JNT=')A%_RZ>?R;9B0!C'MW.WX
MD _&;A;#$76\CZ?6&0,8,Z!@S-J'C$MBT&8*Q3XI\;2'28=-.R$G WD&7^2W
M<C(\QAUY:I_%:51KIH6 3EF,'8$53BC>3W-9^8;->R0G0]D537XIR]&?Q7B\
MAQE5DPP20*@/0&C#C<$"^(TE1-2AI$(@1Z<>OJ'IY40 NYM*YH/);1$6VVO.
MYG/W=3A>Q&-_->A1IWL&A>#"^N"+,PT5H%Z*C>0!N23J7&X@MP5H.YM^@D,U
MB 405NGYQ>W=_.KF]]E*D'W3T+Y^&44**,&,MAHH0[ 0N H?(JE<4O+SY09I
MF\2TV\7RP55R%IQQ1PD-_X8"AMD5Z4U &1$KDNI&'!]G?5OKXR/!ZRSS?5UE
MK\CC#:S+?(J[<AQ4,HOKLOECC;WINH_(A(%82&X-,I![YBS@8$-^06T*?2XW
M%-L2O">>KZDV#:X'CW''(/PX703$G\:XA2BU^F7!3P>>X'BQD0S@$$IA]7U@
MZ9-R&GKHM#2OU;(]L#O<&HP#?3<9EO?YI\'7O$X =U>?C&OM >50QT*DCFCF
MD:AD]-ZGU CNH?O2&J&:!OH<9[J6>^7+^@=+K^SIRM8:!#OJ.9DV3E%%+)$0
MBO A6<ATA47 -Z5$7P]WHELG79O@G\'%JL&V5XTS(DB0 1-'*<&6Q&_+5U(!
MFE00^'BOJ76GNWU*I2+<+P.6;+DRZZ1%6'@<2Z,:"0D1J)*>^8LK.-T/DW4D
MZN>))&U*L-?;U#C4-\,H9G(#2PR$G!@GI*RB9Q@)>&&U>%IG6M. GUJ8Y7E]
MLF="[R5-O8X9%":6"L"*$:.=1DP[O!: < M3%H6]W&-O=5G8.-Y=626[5M-F
M[?%\\'LCW =Z9A13X(3SS&BD$8D1_6KF)X2SE"W7'N[+MVZ1FH7[# YZ/<\\
M UQ ABPU1(=A4TDAJ,Z:$2N2SG@>OU-_42[YD=!V=@"GO+\OYLM:B=&G>UYN
M? ]E]O3*J&:>N_ A& @(TDK:IT_!8YURL*^?^_NMLZ@YM+L['/H2A& X5SO.
MU^5TJ=7Y?%I\7LQC&/=3&2?J(%8 /0SE]MTDS!CY;%ZK^DN3+\JT1!PS:BWG
M!@JMB38;+T% E'+78Q\3#%IG[EG5TUT*[EJK2VD/'2C;TCH3!'-HM7:2JB":
MI?)I:H":7MCYQ'.1XE6Z;JHBNIRCRTDM=KULFAE(8@$RH8Q1""NL+8)KB2CA
M*N60T-%[15U,QCTA5Z(>3@Q8N*_#NW@#=!3MXUW :[9\^;O9;)&/MK#F8)],
M8X5B^K%R2C)LK'"<5,-6B*<DQO1PU^?,Y&E:'9WM;H]&Q:J*[O6@"$OD=63X
MV3>P;YO[8.>,:>($=\:96*/)*\5=994I)2 E7Z^'V34]L6"-ZZ7#7(O%_6)Y
ML^HR+A@O89WF=_ED5GS)5_&;>+/6;_G\ZN;3X.O^#(QCGI01(8"""D-NN>;:
M:5#5_,$T+LZZW&_ZCN;:=M747<F*^:"8Y",WF$X".K-G4MG\IA@6^Y;!ASMG
M'$L-8E$JPA3RRDNY.>O,O*<I]?YZN$75$VHVKI>NV/AIF@]FB^ECK47'Z\89
MEQY[:[$+,P1#FF&@JX059@ EG6QOR17;)OGM\IKM[X5TR>HX7Y3PJ$A?IH@@
M"!#F''>$,4#\9DW%G+(I)#M^CZOUS8J>L"M9#UVQZ]=B4DZ7**TDW\.METTS
M 8'3AD!.I::>2!0<VHU$0G6[#?:]V*U$+;RMO8W6]S0R 2041ED&PW?I/;0&
MF@H]#M).N1U_Q<?W:QX[4%Y?SE352S+8VC7C""&G!54*("HT).&?2F)!DNY$
M/&'K[7NA:\-J>2+BF6XQN5Z"?Y?/B^%@_.W8+NQ*$XBTAAAXXRPQSAG!O-8(
M0@^)YTS6"C:U%( ;C\L_HTI\.;7EXO/\9C%^79*OQ@&H8YZ3"6*=]9HB;H.[
M *TB%%5X(,!3#D7U<@^U28J\#*BU"'SGE8WB GBIT ]!M],O>].:=G?*!/>"
MPB D<Y1"HRG1?B4E!8ZJ2[T'O@UZ-8;R>1(\PA1S-5T"-%H&5Z[SZ7*CKG;.
MQZX'9-@IX;ARFDM+& %".%A)[[5(.4;>R\W6%CG6"N+GX=MJ%U@MYG=A=?Q?
M6_?QZW7,L*6  >T,(S HC&(7UM=K::V&*?M3O=Q'[8Q?B4B?DU<[<T,.=\H(
M1@XB+CV72H*XH89X)26P)B7^VL/S=9WSZ224S\FEJ\5\-A],XAKV2$(]ZYG!
ML(9%A!,>UIC: AA/W%?R$L526-7+C<J.674ZU&=(=SS!UZK1.T-(&10O9M54
M8,R9D7ICG@U)NN'VZ,-W;YQBS<-]!IH=X6+MZ156+PAYA GV2&H9A'PVZPO%
M4TZ^]/#,75>T2H3Y;'0ZZ%GMZ)%1;"5$A#@4P%(8V+!*V3B/#*><!NCEYF.7
M-#H)XL:RL8.%/#2-U>N8$4(1@T1 +AT74EJA@@ (2XD$ $DIL2=L[KU-DK0"
M=6-<.6!$#G?*+&322.JD=]Y"@IDU>&,GPV^ZW5&[)(XDP'R6!+[5>.MF\*U:
M9\$V6F0D0HA:KJ'@1#PM#EA2PF@?J^2V.@^EXWN.G=5GD&S)J>[#[NIJ),M#
MT:_&=]Q&:YTG9<QYYH'E# *'-#:>6R6 A@IY1P"K=3RX94R6]\O6$7EU$6V@
M8*PHAPSVV!.@&9%F+9&7,JFJ7[^GB&;UO>N:WE- /G&&F$WGS^@2?GI)E>4%
M]M7 JIOL=UP&O[-MAH.#K(CWVD&(I'%8,5#)8CQ,J2O39\(<J<BR61A;I<1Z
M6+]/9@_YL+@I\M'.>]_WML^@15J:\)U0'"1RC&%#*ID(!>XRJ-& 3LOFT>PN
M^37MUG<%#!8,4^NQ#@MOP9$22ZDP !*!E (;??8I3S,?C>'8W:90>5/,XV&[
MO?L_5:-,& *<UH0(A9'0B%@H*RF$(Y>:LW6"&E]?-7<:AETQ8=]!3%].\^)V
MLLH?&SY^F@XFL^!M1?U-1LN?QBMMCO[?8C9?7Z!WZ*QN.R_,-,$(,Z*UC0E)
M%G- 3(4NM[2;Z[PWY]CF;X6?O=#&N;EN\VGQ)8CR)9_]YV(P+F[B!>9J]K=\
M=)O/@CA;\[Q7"<PG$#WA;9GUB$GL@K=!C?;08:!=A:O',L5SJY]XUOUIS=;I
MWIU..MSE>BED]74V? JJX3=EDC&HA5$,,@5L<*VI]!6>RJ.4:'@/B\TW2.[S
M*J('Q&Z/R#6/@F$,E QSGC?!H2-*.%KAY1!)J>!5/\ON#1OG;O'O 5]/XV)&
M#"5.4*2!E)8I"!U':SDA(39E2[F'5\1W0[ C03WK)L_LZL8,9G=^7/XY^W98
MY]G;V0SFN(V<5]V")R6-Q4XHB:DV7&,&Y/((H[#: US+@/9KUP9[19DP1@D%
M.*42*\0JB:C6%Q)I;5:Y^[=HCD.TWULTS,3J&YP)A#G&+,Q;D%>R8,92'(8^
ML^-(11[<HCD.QC>R18,@4-918ZT-LP_W7%9?BP/27,AV;P,ZK;=%<Q2:;V6+
M1E &%3%!,(NAAM8#Z-92>2%P2A9S_[=HCC4?C>'8%3N"9QHGT>MI^:4(+IU^
M_'T6;S79W+BDAO/BRZH>Q&&WZ_B'95RXL/@7%$OM"39.2Z$J5+@'*4<O^LRN
M)EV7UE'O[78AP XA11S TAH&A%C?0A"D@ Y=F&/3IIKW;"<>A7%73'G:"YI]
M*C_DPW(R+,9QE?VTK?2I;,ZNM?&ZS$N+M7(4.RP)48!):%?(!JQUO67HV[%\
M';*W!]KJZCNP>=#SL!BL=TO5?8R[_]?RQSUTWM,K5D! T%"%@D]"-%/ $%/)
MR;!-V>#NH4T]+U5>W2G7E%HZ,\.S68#J_F%03".&YFXPO=U[KF![ATQH2:71
M3$J@:7" '(.HDDY(D9)$VD-3V"O2-:*1$P\Y?<@'8S>++K$I9_/RYN-@O)4]
M.]MF&@*H$.)$4Z1B)AU$&ZF]8BD)8SVLD-,+XC2EC,["'_%TC1X$'.*^3#Z9
M'9H=MW?(F/06B+A5;3D&B(1%.WSZ(DB*C>IAL9Q>4*U1C73GDKVX&=9]C4/.
M=3[);_9>VG"@9^:#7!(; U#<@L88, \J>0FP*;L\/2ROTRL&-JN:SMRSX7":
M1TVO1[O/,7O1-+,<00T@]X8#:BEWC*ZCE0Y*J5)JSQV]^]_%W36]HENB-DYT
MQ\SR5',Q\<$77!YY+V\V=\O.8XI $'NZ:_8\[@&90 $03"0$B((@DR?K:VJC
M0,"GE)[K8<6=7I"K50UU9=)V)XO_,B@F$4B=WX0V^].>CGA*QB@6F$,"L7;:
M&044W'QZD+@4OZ]^$9^NT^UZ0=CVM76BH8ROO9K$1<_535P*!1""V%O+W>]K
MGE$:\UN5#T.TUB*CI*#58$U:?:CZA7V^2VHUJ)9.3Y7$E-0 S;<%%W8="OFF
M<0:P=%Q++#WC&&$9%N2BDHIKD[+1>D2%H&_9=OE$:TPA7=$L#"[6)LEMOOKO
M,SC6-W[6V"^K_Y ,0VFPE]0&9#V6@#,+-Q\;LTD92/_:<-A/RM;4=#ZROKZ6
MX"B:ONZ><6HDE HI"1FSE#H,\5IR9)U+LIM]-)MMD.(@[Y)Q/Q_CJML+B@,W
M2>SIERG/A;"> *JP%YH"(JK=%J0M3@FVG'"J^$(Y=CK@YS=GUX/'^%'$7>'A
M<+H(ZGFZI^DD [?O@9E!VO#@CB )6%CY4.%I-9\@%U91E[6K=E:#UZ >SL?2
M*CK^(0]?V-Z;@0_VS1#FSE& "*0NWB=&)=U\F<BAE"J#/=QF.POWTB#OBF;N
MZS"?Q4/QZST6'\#;OA&XQ37>0\&DYV92>0LTCE<M*,L1M9*M\\$==B1I%=W?
MP[<=L+1+K9QU.H\V?K.+F%?V_]@Y?/M3LN#4>. %08(#B:R'L,J8=-@*D)*\
MU\.K,LXU<3<"_AGC.3$4]1*IW_(CXSD['I(!JQ $S# E#:?8,XVJ91M6G*E.
M-O8N?2G3$/K].V/4R-FBC!BL(($ 6T4<)QQ 4T56,= V95_E^/5+=Y4+SG.F
MZ$BTS\RY& 28-76N;<_#,N@4 YYCZ9&*GSG5EE2H"(I3[& /US%=<K YU#L[
MUS9X7$?\U?"?BV*:!Y%&BSCZ?)E^O?>XVZ&^&=%"4H=,6+59RH&!U//-]\=<
M2O"PEP'J-FGQ\AQ<P^"?C7!Z,2LF88&5SY:5:")^Z[_9>]7C$8_)-)>.(@@9
MDL'S -X[NO[*'5&$=E/)]SNA87-ZZ)J1OIP&Q(9Y/IK%)?[2D=T"60U2UGQ2
MIJPSV ;'F''+N/!4Z"J;@UCM4NK\G5K+\M)XV8XJ^N<I-N(A9LX"Q(4@.#@_
M7C/L"*^.\A$#5,J9I1X6GNR0CJWIX,Q,7%\_U,R:9<_#,LRI)9P!("AG5,>K
MJ:N5'*&.I(0/>WC I,LU2W.H=UB+8V/0WT=G(Z 4=+?W -/./EDP]@80RK3D
M%EEFK#).8",%@<X[?V&WQ+1)@M>5.AJ!_,1,Z.KU$8-_W!6S^3B?KMZO;J?Y
M\NN:YE_*\9=\NB,Y^H@G9,PSZTG,R?56 \L Y=7$0)%4*15)>WA,O ,6M:N
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M%'N%N(S7IGB XY6"L!(',Y-TF<S16: 70973T6TU'O(AOXT;0(/)_+?!_?X
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M<0"7U;AIG# YC&KZ_O'M<RH;Z(L1[$-QUHU!+!X\U5@:Q;75"J:(TT94(Z-
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MMNQCA'4TC0,UXEH$/$7.@TC;E&%,6^:K,4*+<A2+L_74N)Y^*SN>K+FB+KN
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M"ATHLFY5!N@W.#!V-I# 8/EY(JIZH_8"M\9QR)7"0AN/O-+*[[ Q6LB<[7V
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MAPR@52<9U3D.;P/T0FI+W/E(-A3W[XME,2UO%K/_+JY,>9N,%I/M\_^-_>*
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M&[ V/>'>WLW+7T6QL]'K<G%UPH!ZL$)P1$*N8V<A5RYEM_.Z,O@*3%'.=C!
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M/&X+=CZ:?;%$3:?+(@EGU]4C%'E>-'A-"<8 <ZH089!X@.A^1 KFO(G$X[9
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ML77(+[P.'AK/^2OAH98")513I8GQ!MFH&CA.*S7#6P=S#/WG1Y$M4XCRMTS
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M@7+NF9*,0BX$$!ZEP <5%B0KROX UY+VJ%'V!?FE5X!+!U'M<B'P5D%HB;*
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MVYD&K;A'"ENT0Y)DV44C.BWHATW=XWM:7B4XBN5J>M626,^;1Z'!IV7?:1;
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M%V6=*HE5^MU. IKG1.;B$6;]&7@2C5R<9SZAVGOAQM&QJ*@C@7LB1-"(41\
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MB7*6!D1=-41,:,YB>R[1FKVQ*0OJ/MG468CFJR^+#H/"2I19305BTI;!J=5
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MH1P(SJF97C^T\9>9,&.0X5DN-!^GRW^'15&6>RH2VU:EAMCNQX=:;PYT(:*
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M,, XXYH3P,[IM)'70*QW:!3WQ-VW,JO<F]GC,-+V8GJ7F%?_M.7(.Z+!,D@
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MS!O7E==>$QR<)P2L%IRK0'9]#Q1RLFZ-R(72B<PS<#OY!4W[HT:5WAJM(R9
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MI[.TVS!7J;<;'7&D1,:>%A'2EI>!%T0KIXPTDE*W'1_6_M**HW8O]I^.4[J
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M[+N?_N%'8S)]1P6FS/.R*>N2I7N\[7B29;N")8J2"5QM&AI?@;EJ(H!YR5<
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MUB37MN0R5R^!Q$VUSJJ)R%_*/F'KJ]\;0)R;3NKS=H$R2=950[<DL):\)4(
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M$QFBC%>K -X#7+F"8(N6@<DJ3U!UW@/5SU!@FIXLU7;T5TQDN#H>\6,FO)[
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M\Q\IOC&B7=7J7\5:[1Q+DS\CRV*[5;YZZ72L]@!AS>1F#J7-CM064'VO_*'
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M"7IW!;5>+-8IJ-,D?!>\'#2)U]D#[#:)CFE?<"VI[K9]#U6BUPHGN@JH4ZR
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MTQ\D]\8'TZ5AEX9*V#M/JIDF!^I*O5(P<4H<NH:OO\<,L&M?NHLFNVCRL-R
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MXPS"P6Q)WGGGW9GWJOG1NRB@#KX.OGV&[[!,B-N<BML3@NZCV5"GYX@EQ5'
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MJ:<PBLJ?$ M9"/CVTT6\X"6!O6B,[MY4B=";"/PL&P]'-.M]R9E1/J#]_Y]
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MJX]7.],7BV';_/YN8^!8OA353/6RI>J%VO$^J^D'8]'#OH,T@3@J[@TL_%J
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MFG_C1/9?A66==B$M;B5GA0E4@XFX*8Z%3:!2QEB 0W_5J5ZKTES5AH0@ES4
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M@&J9HM0R9N"1U;L5I&=I;4KSE!R^8P@W@*4#F]=P!6D9%QU'UUR\BR.OF_I
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M2_2C&;:\[&9MP?"&=A,?K&U^*F;::8-N*3QIK1AQOA23!& U<&9"K$KF@2-
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M\C<P<NUFP?6AGK9<(G,ENX/9Z72;ZA86CC(A_5/:,IXTAJ?SS/EN'&<B LR
MS-6"IEY.#=T:2!SI_HF[@OGAK0O?7VFU;FDM=\P!@7AMNM[81H3MVK =XG*T
M?)\N,&^N1QIWL-!MKS-])IMZ#5ME0]#:^"J$ECH;OCD(U!3@4ZR%W$)X"55]
MSFTJ?@%8=0K5QV"[F,N"J>?>K5ZLIW;627Y5%]0JB.LA'88F?7]!C749*7N%
MAKFHF_>K12?^X(8,7CU=0]:S5(996+#Y-)^]#0LE4<'NC 8M\+ FC$[\6OD,
M !6KI*F5UA5V0(W]I /=&T@>F!>6R<A8EFH"ZK&YD?(QSZ9Q,NK1D\@HA.YD
MW@[T4NO)NB\K:?<HNZT':J1#<-VIK^'SR):Q=-1?$O,7BX5Q1;)ET_9J)]O5
M];S^;G.=MZ' 'QH**#,A]X3\KWRY>BHD],_RC7SV2MW"SS$@")Y?8GVV"-6B
MQEM4@L0&3B<B_L*HE=5T6[NU\'&W1:3@[YMK.GPZ(>=NUCT@GHSU%-J^1/3
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M2/)&,\.6RRU^AG007>P]Y UWCCZD3V-FY_TNPO1,.6/XV3-B?4#-YY[)<'_
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M&1'IA5SPB:+]5+_0'^A.O?/"%DW32X)D"G)*L"*^419$NV+DS [4HN%"!;T
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MPU82SC\U&YY]PV:@O$K7Q^_"D,8676*9PAZF3]>M,J+/UI7\XRHG2V+>2'P
M21>'$U;F[B4Y-9Q_M\4RW*Y;7XK[UU<C]1N>TU=RYYH#YHC3%*,L"^W\T9WO
M$+>\4D6"U;H%,B055P=*2S_W59D/?2&1&QCVI+EF_+1_=F"F#4A#UP^6/5=W
M4KP<*Q#$Y#M]?<?#;CTKN>1D8=D/O7?$/;N/E?\^-R=3(.K(C6]7W<BY*!LN
MTY]H\4QK!?X11*1!GV/K(0S53:/!Y%; TO>3P2FF52$4"B5&&)*T/3BDR"*
MNZP<%I/IM"MQ]66A[,L:5N@*'-[-#T;]:G'=@<K[X!F;+-8MPUC2.8KOT-[@
ML*Y"OK"9S7Q",7BY7"^MB,BN;AL0;_(B&-4'G[MC.*+[4L#3(RBA*5BW-7_$
M?]3[=-%9'I8B;4*3DB02 2BBF(0-.S"TRENI<+*!T-\)C">HYXAV=WQ?(Z-/
M!KQ_)\,+6BB=(Y7_EIXP7R90$MUYZA6EVX[^-J+,0E'2^&4%7JB)V0!1X3V.
M0E9>TYMBW3O8\,('5A]1]<[A8NZ\ECMU=\V_>/QK[_27OT.CYFX6CR(H5*_B
M.<2A]Q)Q**VO65&Q+5_0IP"*;MDYG3#UD1F.)\J-SW?JI7SD:3(O6)%C=R)W
MN$W6DT>_<;*2<_#T]4OOR3D7E:9$&HNXAEWGBC=.J]4423;B:S@_S?1?DDQ[
M)X;!GW)D+\I.Q<!97J2N>=WM]C-RF1U7!1=CJ$_A_-"YWSTVFV?-4I6VV&P
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M,R,3.%D@8E;D--_5>*"4F8LB$+[?+ =-*XYO(Q2;%T+0(:0>\539=H.4/<!
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MY6W,![A O-ALGFKV'XV",- %(J=?+[RO!3( )_1I8?\448[]O^UF^X#+#GC
MWHA:(!.@VU;S/74L)Q*D!$W)*^ "2$N0V,-Z,.Y,%UQK((!_)0N3B4BQ*(Q?
MV'S.3S/P[/:UPWB0\RZ4UV)A?<&BKD!-I-\P2ALG4SUM]:T"Q-%?ZN&29O+3
MLOU# BRH3I7_T./-<ZQMPV!9N[G?J6Y9&GSW]I9M6%_5!*)0J9\-;<B/F0H(
M&T4H7D+%/'KKTH((/W^]Y%;5HDBCFIMKL6 ;9+'UX;YOT6$XUQ.Z D3Q\VZ
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MPZ9BC2Y<]#$(U=3C&3SOLSETM8Y*=;]"*[ <(;PI<((U3?F3C5)3O'?Q,=R
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MS2[]65K,BD64_"?^_)<@ \(8U!WG^N0I'TY04YROPZ"1E3&+#Z6O"FUQ5=6
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ML(Y_+5O:$?@CIH& JD,8C*(M$O1:(<C*4YP4QLD$ZT]!UQAK"P'1TB&GE.%
M3[@NPJ1X=#B%J=^>]$$J70V@,*@:I;MI7%";?"T_BPF-"Q:+@<S%;0O@3/I2
MH:F5A?4D^$[*4M"P$_K89+HY LV& V'=P4;DI%#,,_SJ_4J0# AD3?AP9"Z0
M0<Y>H&V3(Z:A=0_X)46Y>09ED%2$?65"%S[R"BXYSM6M_QE?4_C:>XM?*>&#
MOX#/C#ZFD5T1(8BB:7\B!S0=5\WY:AU8FH)]KNLD%@S(7=&;"L7&3/] 4:#!
M256]O 8!U'O&**5F:Q0),N&9 6_B>UE]:A]+'9/&>IO OHP5<'CA1>A-P6T(
M4IMZE!ETDP=<^E]G[[#P9,_K"MT#Q-0[D>C+\>QZ_/9<U]%=L$?E75KCS)F5
MM%7U'HZ=Q#U;/.7".@O2;9&"3<&1 BYG8Y1PVHW92Q>EM15X-2"S3@[B%5\B
M[Y-(X S:!WJN'?C_-P0DK-F"X3(3\.9N@P3D4C\8^G#882!'K!%/M8"[5)F#
M!:X[[E^<7I;XCB>A\R!==8 )W9(Z"RIE<&9$;)QG%*EDHC=W]3$(@-8'"^XQ
MV_*J>BOE!Z5$T7;U6"*QQ(?R%U,Q3V(<U(CU.CB0F">) E_JNF\%$XE>TU!J
MU$2=*<'KU4BF2&;6W!?&S >/?WZ-O0XXKH84N@B5BWQ;3-\IGJW>#'XW 3Y!
M"6.&!^-NX",T-C6\Y##G$B9[HBL)#VS[5YI&PT'S/>!!0TECFUFR*#N#XB;%
M!&*KJ\>&\M2%T#-9*OY#,4RCA:WQS9E]1@7W5AC4K[=3ZI&A666 "P-_SZD<
MD3!/-5AV.-?@/J9)5<E0O;6D@_FTK .V*$23G'YO)R<L>XG0IBL='WSR!?82
M12=P?E=:-J;,? BE59;J#>TWGU]<&G%1OI,5;J!O>$+;A,<VLVY1(UEO-#PL
M-7'P.)S@&PB:<1P/-?Z3UB9JMD0!T&ZAMUFK3'DP!\=!U&A5FJ0Q,$BVAIYX
M@#8J=!)9B=1S,*+8&F\A#&];\RT6GTOHJO7ZL1B^4U3A)ABB(ZA7U295#M[H
M=V5S(YY)&L@^8GQ>#JK2-.WO>N"0#K1:S3\\'F3H5]QLPZ^^)0LUE_,PD'3L
MC<)X5@OIKFW4+6"]4I:SU]51Q( &-/WRGCYYCB#B!=4O7UC:#CV#8S'%/C1P
M8U2#Q?JO;8,"M[C#:1:CGD\"GJRLQDC?$JY_N ;SK]%L4M6'_))Z_C&]]^(;
MLZ-3"/P96C^E[ $#9$ZQR)G<"A4=L2N,1F!:Q3/JI"E#3:)*N9;SV*"D4R/.
M:EB15 CQ4BW?#I=@.ZI>0&DGH!*1X(4:RU$SYU%IKK6K@G-4\4RPD LV"P5S
M;A$"V?@4-DH"CV_7N$@@,T4X3PT6 F<L'/GL"OFHH#]%<E4$-*T.'0(3/:1^
M=K#*QS+DFH54A YM;;>HQ 3+:>XB1J 2<8O#6&_0[;M!F/:4;'8]GB:40<I-
MFD.LE'$P;.M/,4_9$E 034G_< "!G' .ZULI;P;ZX5%?UE!S\X,BN7@]OU^+
M>1K.QR0.5!B7,DKY_=2X;O6XA^M1!>KJ<5__B?7UN$Y\;HWX1.043!AR]03)
M*SU'CU&. M,&_D@E3!Z G8_'4 8F0?P*@ +.LHK-7X3K+&^" =7'1CRE'3[_
M3QS 37"P*U9!X2@Q#MS!FTZ"3*6:$'>>IY*DJ J*(74XJIW2]+0ZY\=N&L4_
M=1<ID<&0TO945 >T^DW."RQP1Q [0A#*.$0_TV!067C.#KIW1^@ 1Q[K<NC;
M.,PGY9B^DP<[0@>J$AW;E'3>!L>Y!>D@3[&Q"1/6041]P$XV[!1-Y#@_1*;8
MIH75&0O].RNW_S[5:ZY%5<PE94TYGUJ4"F.U)!<Z@?O.@9H$(0D)#";#W@N5
M>UTB?AM8DH<96OO#TL!%C2-3%!,O@Y*Q&G@&"C-4)DD,+#_QO0D6WF)2 T<2
MAP&Y$+K"CA%XT8T1-U2-#%(!RTK(W\!1:M)Z8%$UCZ!KA".;IJH=PU2J)6H$
MHVE)6^A$TS.6%P;,9W=EK5>K$GDE.GS5MK(J<JBI/RH-T9Q2AQC^@DH0N8QH
M*@("<8;?Z>],T:,!&J6!TVG&N*C9V,,65R UI$\<)A.N0V]8I/%NV\U6B^N6
MN%L+2.HDP#))TH)3JGW4==N3B511 V8+55?F%>EC*F@R.Z,J'/'".%*U%03*
M#O\748,=\<+(^ZG9V&^B(^:E8U'I3BEN/I0#>)JJ>:<*CF)*;/%0_A67L7--
M[YZ"$L8:=R6<5%T7/KK5.-@O'MWP8/GJT*DN8Z0G?B=4[FDJMC@#:M=IBEL1
MA*S]\4?P^#$USN"(U!B$S8PB$06L>")Q*#O\H29ZZY++4SS\L==7L.)X_06G
MR(;8_XS5F_V;1/(YV-7%?R"F_6] YO2@ZD]U#2%OG;67/-U&K[E<'8]W1SLH
MD7:IW"*E< $T7$O5MQP$QV8H('K<$$[PA6)&F-%RJF9.F@UCC$',_0UQQE=P
MG7/5G"7K=21)]65JQ,)J%W9QN#[R*T&EJWTMU@@+NY;$RYH>E$=('#R4.+?,
MRZ=89VOA;BK3L)K"K#]VW[,G/= WD90D2%2&J[9,T%X9:QV0!T-=BI'**$#-
MP2<+[T-8NKSHNP^?,4#5*I=MI:]_8$)I="2F$:9<L5@Z';:6M/%, A#(7%(S
MH[S%2" 01#WI-+S2&(<EDHBZS+CJ-J7CH;9*5<!<(F U]8'ZT( " JQOQB$;
M7(G%->), .KLKU$K:_5<%#XST#[3-7Q,TFL,^ROQE4L=-W##/NCCT&OIWH%*
M,9C01>?BFXRJ7^JB?J[B5I'98='.7K,9:@\DEXM9 E++0*I>I0X\6%HV,T(4
MN<4TJ",RK,(_I\VDHGRC RMM8=1 (R?8N .&TI\"9S\24 -<\O:R:&I\8,$E
M]:VV/US8Y!Y,&$9"U45CB:Z%$(ZSV.20.EEX; ;9XSPZ!42.G?0S+2\4&6X4
M$QC4LH"\Q\$UB2D2XD!&' 6P%#Z#9G^C'J^QPIO(09D(0D?(HQ#O__;[.RQ@
M'LJ1H"Z-Q (1UA]2S[4M]N]F5**WM_-W!F'85/F3Q-1G^E.WV6PTT7(-65 J
MCA W<*,;:A0R&JY8$TD\JF2L+@G6"I809P(LFEAVXG@"!.OP?0!"S?NITVNT
M]<M0'RP*&[8O%.51S3:L2>%!5(PK[I&V+-J2R3 !NX=,$>K4D JN0R=BJ8,%
M#*3_(4H%PJHH$-M _XBV%3ZFC3?# ,ZC 6K"("WN3#T@:F4QCF,QJ.7J/<2<
MT#VP/<LTCI@"%S>YY<$V>!\Q^5 84L>PU73"?@Y27ZXKXBU&'X)4F:,WIKJ)
M1P:RGIL,4]7T0DI5U0&4Q?9KG]#74G\-$3K&.JBUB1:$K8_<':F[?*[GV/OI
M5UISN%_R&ND:IP04X &LB(46)PJ[K'2M99>=P([.4!2@:4;&:O'=2 [)N29Y
M0?:;#;;!^!DIG!'.QO35V: $5.<EO(E,;M!RTD@/2XY-'<YB'%X#JY,I 5QW
M"]MRC<7C#$UN+8HH9;5RZ>=E/Q<,W(Y@(%&WZH0L$WE1Y&C&9XP4?!39CRZ'
ML"LD8H2A=QTH9[8BS] S0=*9!/E$@654 GJ.6G:$6AX2VBVL^MO8H#;I5!6\
MG'%5EVK0#R"K'$7M!D6!]RP55KZ>L70?>521><PXKPW&N%U#;^=+-7ZQ)+NS
MI'>X;G06AYUE!3^ /6&.UU3*ZCE%10:Z"J=@P=[<9P24<(1Q3VKVN@[5B&L[
M9/$Y)EP;Q*H0',9C,81K*F%%#C%(P"M9&BCG,"_Z+CIQ\MI^V2 .X^27O[1;
M[;WVX8=B#J0H(6-9 15X>8W9HG#DTE+5H\GUL?,%3ETP%:&UWO[BH$,U4\H
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M((6,G@+QIJ/YDN ;?5I$4"CRM'8Y(D<[SR892J/D;_,0VQV**+!N?]# G26
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MZ:?#F4AP3M.6"N[5 IH;L;3^D  P$982Y_7<$[S4 %4/Q#M]%4#>SGK P#I
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ML,[ Q Z5*P[&-FB++ :3S7L;C[S9.!B,O0KF0+NI?R)P<%">X"W@"_+>85^
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MXRY2N;8\ZB*53QRI5)Q.[?D+;/[:Q>;+3.T'%YR^^!YMNJS:I,4[*G!4X*C
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MD0:PM=-$XNO@P]1<;3B/J4PF08:RA0>-@XBG]PW%3)&Y945/>!B\T;#PBS"
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M)]8[] =D;;8..QU/J2[S2O"=KV-):3X8FSMA0" 8J8"A]2):I53VH_1V:-L
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M7\_O[3DF<TSFF.SYF.R@Y[?<W#G'9([)GC.P?N!W5AK_XIC,,9ECL@>M:/_
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MP^V+8,<"^#H>Y,A^VTOQW=4IOH]F%!#I+=I@<,I $REI(8&T2^J$92<2H/#
M6O\&U T*+\_ AOH??TK"$VA*#.@0Q5U&'%Z[8,*1"@6A!'=*-/EZ0S'7E"]
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M0R92>">P,Z@EE[)=JS&F[)G/L*=B(08\")5EH$J[)CU>^?6W[*ZI[#0->EU
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M)R<6I;U^_>>7J[? +4#R&5^Z4]NZ6[C3A1P<S!FH&L%RN7/L/ 8JP3B3*?Q
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M2+DW[PGNF?T0\^>"I^&^D,\]4$R+[NZM86M4[$?#3$$1@:,>;$?V=F$-4C$
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MM0O:/@M]E[2,6J0FT>,X="<)G5[211DIC[>!ERPYY=3+Y/E4)..S]_I<1.:
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M5'/$$!Z?PK&PESU44U]#["6*E=<3YB/';G?W<0RFOCK$BV1H-L00:R1FQWW
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MU,Q/1X2#G^4'"W/$/KZQ\,:Z=.-U2:N@E:+;J61Z3J;UT/1&K?Z39T<NK6F
MLI;V!C%;G$@[\XSFEG0!:-><7W(&N79@GA\Y"-002<9O!!UBZR\_?[MLB;C5
MUYP#39O3L-7.+UFO'*8%LI9II;)U^WX"E"QC2H9RL'<R8P,(8TV2"*1 A+..
M>1@F*ZG=@O[$<#\#_1/UXYQ^QJPI*%CP-XXFMN9LZGJX^D@X>/Z&^Z$[NQ;[
ME9HFD15:A)Z%14<3J9]LJNBUR#  7#IZLV'1O]VPZ+4WG(?Y6K@%\MHIK;)=
M6&*E9^U%6BEIV2UEK3OQCEKOHK:.<$7YO@0!+Q]U03='\Q04];N%.UT(5[*+
M :\I8A*ZP[<68,<&(8;QBPW(OAYE^F8$'\.6JH@LY<$V:[!@,N77V2GQBFPW
M)NYCRH$N-_2 ;5Y.I"914$3I)KESC/=T=C,FBS%9ZFRR_/G_998[^].KZ%/_
M:G#E=-N.T[OH=S]]&G_\^+'3&8X'HXO^\-/5 ",.K#8;S*9A0]_<B7%, F]&
M (65^H0)*=SZP:]Q20[-,[5@W*\ $)TV/H\S)4QWW,TXZ#)+RM.1+!*[2X05
ML BJ+O!GE++WTOV%WX?8,!<-1[ .0E]96]>PA_@RIP>U=8!KB-(A7J^$S@S\
M]@?':#4A>I8^H+, / .;ON20Z /V&W*P CE)>\$P6?>NCWI5 &H2CFVZ0(Y%
M]WEL38%BU_!H#).4GB^=()$ BTX8>W.OL*UK!I,#CHN8Q].YIVE!.&"]U>KN
M@Y,-QW;J$00TX=C#]UB7<&R9G,A$@TCSB)Z4849:P@K>1+8B28LV[#7*+88M
M@5%[%UEG9$4$201O1^?O*PD/R;B;5-#>SR4HM]7V[8(&Y(O/>@=^$"Z9E]_R
MVR)5-Q8A'5# Y:]_>M5^19]AX%/UN83R/]TE; B_\SOK>P *7W&T0O:+X;$D
M#M07(I68OKES9_$"GH;)RPSE*1"1K2+^7OWQH9@^_"H]W9W6.'-&K[8?_A9]
M=)TW']1#Q=_N^ZGB:R?96>= +3Y\XG^/)2>V9[>/GBJW1@^>=#CH-=TO.M,7
MGUU=:[.:E30K:5;R95>ROX>5W+IN6U6]*HZ6O%OE&P^Q=;"$*M7).1;<9GJB
M\U QW#T<FC_$PO\;0Q>??/11_BWQUE;7L0U+G\3*?Y%!D'=G5S)C[?PYO+\/
MLCP$D9U#XB :^"$H]S(00S=)30J2U%7:U ,<LA?R]6QT<1CD%$\OU@@Y3Z"6
M@57=8+6/LB'')) >O 7BJ'>K=[46/ 8AAT:(,WZW18:\:#'9?9O6E0'T,\#D
MKBV)"#7A*U.;[N6*$/7L4:5[($QI.E-V:Q\L7DTC/5;^KT:-G0F'H=-Y28(<
M=NV-W#!RP\B-G9"C:X]'+UK]TTB.DY(<#2OTV1^U33'<Y]PO9!BE#H39/Z.<
MC3JF).ZS[D)JB!=*]S]M'/%X_\S0R;$S_1',SZSE\<S/K.7QS._1(:0CF.NQ
MS^]DUO*1@;VFWP)YB8?\L= Z\SB=3%.%/<07TV"Y=".LSA^5I0D^*3[<+*NA
M:X^[E?S4S0M1';&=>ZSH=+H&F@::M80F",Y.I=B_06>-T'E4B&S;3F_0VNEN
M7D\?WS.<X0;+C<#RV7C<VJETK2>0=^:LKJ_E157T;$R4/("E_0+A2;O3KW(*
MJ+:[_1$(PH/F<K\$Y/KCP1X"?0:2!I)5M^ON:!^AYYINVJ<)X09NSF?5K*&:
MPJZ*O6-P=Q"WI=T?C"IEK=43>MOM[9V&CZK"\[ )K)N'PC:2<NKD&3UP=O/8
M=D8[]5 U-'NY-AQ16T7XB$#?MP?M2N>N#>@-Z)L*^J[=[U5R4QC0'P7H3P;H
M@VX-0A6'98[:!N0,>QR</?JC&H2DZ\H>QQ7K^\M]MXL<9?BOTZXB^FNKK!R!
MN[#A@.J/3#39 &J7@'+Z!E"U E0#070VZ+6JI&+7,YQA(FF- 9[3:57Q(=43
M=\\.H^72)3HO7<GAL#;4/?<2/COS9).4E>SL>CHNGU]>J0+2ZNN...O93N?Y
M!64JT*1!#HLJ*4[-D4YUVG:-(#IA0=1UGE\]U@@B(XB,(#*"Z!DI6?T7E4(-
M#>,;H5)WJAV8C7JMGMG,7Z2&I>&^&E+MT-ITO^_LH/SE<3/@]N/&[V(V\7CZ
M/?VKC<5S??YV(6Z+<3KM-_IE]'\D4>S.UWO:G.\;1(&^F!>QCW&)C_CX>S>&
MMJ?BF_SE.9_="*!E;=X)6(,)O/KS51)"/Y8V2-NZX];4"R(^PXR->,'3K UF
MS?@M]X+5DONQY3%_9JU8..6>-0]"ZW6OY5C0F^?":W<+=[JP[EADA7R*T)Y9
M=VZ\</UME^38]#MT 4^'/%H%/A( /F7EN>ZKSG6.#[WNML9J!*W'$WL_E,V.
MMV\>^\#!/OWNS2+F_"!<,B^'.?D56#+]5E>1HF)/K_Y,Z[<*W24+X3FD-GP@
M7,RM:^[#I#P+0<!F2]=WHQ@G><MIS2+;BA)  #3@,9!M]!S]]3;D'D,7_01:
MF+OXY"H,YIR6$1J,>'CK3F%QJ67/"Z;T-,!B%81TB ;$]8*SF>BG91UZH8]!
M-A4O?WMY*OXK)W3N B%>!)O/A)!"400B))Q9_TE8&/,0<:A-04@0\03(I7BM
MQ!4/ 4VQ]7]\'<6!#W+D*_SS': :6M\3&*8;\W."VT<05C?<#]W9-3SUB8'L
M^<;9C362SZ"8 [#"-C^+2""NX-,OX(^8 W^\=@:MMF(ZV\J$%4C&42H9610%
M4Y<P+<>;"5C0"Z&C-?6#W^?&H]+E6M9/^$F7OH)*=SSD%IM.02/!QK$-X+ZY
MZS-_BJ-@8<C\:XZR.\)?&(C>*/%(O&)GE\#>S%__[_^,.L[P PI7'V16@J^Z
M_FW@W=*KV:!!\>&AMZ:FHXA#H_$"J$S# /5EIE-@DL26'\">X2Y='%P<V-1&
M, $<@=3 -0]@/*LDG"X8",@Y"I0%\?URR4,@&$QSQ:;P2Q@LZ5U]+P+:_,&G
M,(0$-@X25!['5EO61391T24'R"Z)_->4E$C;QN#>Y2D"@;"2;PN@&\FV.O>V
MM0D]^,WS0!K"A.8<]KX94#9V/7U-@';0 RQ>:"UAT#'\_[;U@1F#?(E)EGIK
MNW1EYTF<A)6([PJ% /E3$AF>4L2W$55W'"8#_PUP^[.4K)^R%4HA:(73OFZ+
M24L 8JMT5C*CIWJ!-DR8#XR7Z)NL<*P%OANW^BG-H2TYO;F0#&O.PNC@VL 3
M-XE&J22D;0Q.1-NX)]L WH\"*?3@2R8%S):LY^<1O+T+@JMM1HU/VU,:QS'U
M5*M&AZ9BT;YS1EOLNTCH'Z7F723LNZXF9J5]AWO]RQAX4?TLO/K+]%06X2KC
M.EW[I!H(8QZD=K:@4CY:9W[@OYVR:*'V>FC4#6;GZ5:.VZ_E\6L2GG'L":T0
M'LXPUB>\"(A04ZG.K ##07+/2.;"EL] #R%U@Y12SV43UU-:<*81R%T]A/YF
MKM!:2"2+N8 R!#M",J7O-1B#.@1ZQHT?W(%J$/-E.@31"K2;&_D(QV1;$R:Y
M0^I8\&$9 .F"D'0773.#)U(:@_:+/_E<JM_S))1:4#9F%STBRR#F144M>-1"
MFHUP8R/L[WXC9+KTVY0SBO.+++]Y&_>K^T7"#OB_WWV\!-I3E)3^782JG16[
MYF\GL,0W;]D<B/">>7=L'<&[[Q:AI!^SW-F?7D7C;O?SH-,?7GYT1OWVJ'W1
MOKJX'(_'E\/A<-SN?,1W6([P+S^]4^CQ061O5;<H7C$XI+)%&Z#U!67[T[7%
MO0[_U9^_^!:30A[WS8A?TV:9R7=A $=B2YD'(';OR)ZGG0HWG]"=)'+7#9*0
MA# (9^7502D:1*)]%%BR.11AL@_8%E&K@O:#)()'HO-J:I.49YLTT=[/!0?;
MBJBN/X-WZ;/>@?14YQ:B+7+M*>)D@>3UY*]_>M5^19_1":$^EZS#3W<)&]CO
M_,[Z'BS91H@5#,MKUQ?#8TD<J"]$G(Z^N7-G\0*>ALG+@-P4%H6M(OY>_?&A
M&'Y[E2;HIP?"G-&K[?G[HH^>\^:#>JCXVST_C2N]=8I]M0_4XL,G-H[GW% &
M>*=.U4NW"JLJ^T]^M_DW9Z'UR4>U]F^)M[:ZCGV:1\;2I>^?R,I_XR&V#LJM
M]<6?@GH;\7=G5US\59:-_&A!L \*U14M#]UF> A:O Q^-A- =EH)V8!C5[2H
MEHFU5^04P_,U0DY],R -K!Z$U?-/.QZW0#I$3?[Z[%;O:BUX#$+J+5O&[[8(
MF,?KQ2]Y)=<>DJJO^"KD4QGWH;#*,H!Y_I>^>"&K\7"7"E8Z2_>,LW(O<)*@
MTQO;_>'A:Q;6\W#MJ5Z@9]CRT&SIC&RGVH%YPY:&+0U;[HDMVSV[-S"[I6'+
MO4U\_RAV*A[>;A:":UNEW>!X5U<1U. F@@/"^*!!^3W,] (/7%GN<L7<D YT
M';JNYR'UH%HPV%EG9'<K^0;JR4OF+E/#,?OE&#J.V*FR#GNGJ:E!;AC ,(!A
M@(;40O>7!D,&0Z>$H9.)(5\NL&8'534 4\^Z95Y")]3$P<1K/$V"1Q_=F3SM
M81SEC7.4=^SQ8*<^QMI*]I-U%AH6.[!SIF]W!R?@ #61*,.4C6%*QQ[US;YW
MU"S6L""9T^_7X$9B$^TU0'ZNOM,=C5M5;O=L&)*WEZT^HECO%\S2YU&LB@&)
M&D&'=CR=O/?^S&D/[&&G2F7YFC*3\=4:EMDORPS'=F]\/->V&HXQ'+/OZ[6[
M=J=C.,9PS$LCK]NK9 K7$W;5+5X#OH.$Q/J5TI6;!KZ3B6)_#D(.[5G3) RY
M/UW+ZQ*P6C_8ME-92M<+F/]2B<S&D;]+;Y/=Z5:J;=0P;].A'8?'OK$8IMSE
M>81=A]<,4QJF-$SY/*8<V>-!%6O>,.7Q,F7#8HM.U\3(#8Z;C^.SP>@4@'P2
M(?*S;V%PZXI[@-5%1G1/I.M/@R6W8O:+FR/2!^>XH=T=5BDY6E/.,NYDPS![
M9IB^W3,U!0S'&(YY;)D;QW:Z5;:8VN:.&_P?1/*.VT<4_BZU 0SPZ@B\3J=;
MJ>!</8&WB]#W P74FQX:_S2?\RG=WPI&JD4WK9ZM-JS9/5>A;YSKIM6MXKEY
M+A7JQ5R5I'JMV*FIES8TC5V<46L?]W@8?C'\<HS\ NRRCYO:&L8NAEMV&1L[
M+@XY<SJM@;6*HTJ!_JJTJ*V/QL"^#H1Y@3,1@]8847\2H"<+_1W=Q9Y^3_]J
MP]FX,5Y?)F>P^J5?EOY'$L7N?/W\,8N/^/A[-X:VIQ\>>=?6DVG3LNYM5YW(
MMN9!:'UV(UAU"R_.HP?3S\X8P]!T3?#,0NZTX@6WV&H%(Z>;[E>A"^_/Q?-K
MO& :OEFR$(9FS1)NQ8'%L-YW9+'I?Q(WA&9<GQKYQMF-]9U',"3Y8^32P,[T
M)[61G=O0E'7'/0__>W_CGYGG1=9ER/F-;?TUB!=L:5L_0W?EB8XCFN:/F-\"
M#:QOT(H^A,@ZXVRZL$H'XHS/Z>49?!%R?)R%:VO*5KB>,/O@#SZ%$>'! (_'
M\#*+K2 )K5!.%=JBQC6:M0HGXFN)THVR[:V\:'TR0/_%@293E"U (U^LI-8^
M5@H$H(7!+\!3S+VUZ.YU9]3J6="R!Y077\V2$"B2!S&L)U(\\:@=A 0G9U6D
M/EY^_>>7J[> ;QCVC"_=*1[IP'6Z1!'&9H%<,$M(-BL.F1^MX O!/?+<AVW=
MN?$"/H7P]"KP<6G@Q5DR%3@"A%X'P>P.ABM*'P1S-8U^:YB?!H+*]6/F7[O(
M60+9XBW\"2BQ O$,7:X\YHOO..!SA<0J-IZUW;)^<&[]'L2<1D-3AY&A &>(
MSL^NSWP0$AYP WQ!*TLR 7%&Z/9@5/#%DB;>>CQ2]R/?[^OQI5CAJ84M6Y5Y
MQ,HQB77-H$_HZ'6WU58+;)7 /Y/!(?=HF>72<Z#*DKZXS,9ZJ8\5^&&=@6#K
MQM!Q6H6QB6-1"H']AY@4.>_YH\P/TAD7!R4))@?E@ IT_Z!&Y8-BUHR+75!M
M,)6'.&I9/W/O/PY"EAM9$[$+DZA,EBLA8;#U3Q^__+RZP->_L?#&NG3C-8$S
MB9,0MFB 5C"+:/>$04P3,2T0:G([]VABT.[=PH6-:<50"717# >2P8%!4S/8
MT,(EL-W,)CC<L4B1=M@:I8C$GUYWAJU.0<"1\/U; K3M.G8&*EPX&\7M2D03
MO/43I,S!]L/2TC;/X/3R4CE%)LRT,=J!0H'/<JZ2*M*,3V!KF !%F( ,P>=A
M1>R#!8I_&-P!=2.)%MP?!ZU._PU\CO@TP>XGL.O!NLXYL9* T!W3%2! Q-_9
MVNJ))?\@YH"@@B$CGNCPY&9G.+9_,M<#_<V;T?>@S\&>9%U<@UZG5(37W6X?
M['D)-%L- $AI)9&@SISV[_M43J#$#[Z"W6\"_2(5/UAB-\X&6CJ\D-\&'FK%
M.-G )SZ!,2&9'A@Y-O^OA1O%'KQ=_#4W"^8M T0%R 602+"J(;OSK7*Y3VH/
M*OTL48KI$M""4@#E8$CC#E(0T4"G+ *>#R0E<%SS5"68>_R7.W$]*5 \9#NE
M0&5/ =QN.,FKF52?A>:%HZ-,UG)]BP0(SC!*)A%H,C!#F!ZH?Z!;!W>PE"2(
M0)%?([Q0.9RL"Y+X%H!.9HBKF >#D%'K,<R4,VW*F6FTR4QNH6%DI@!M+'B7
M5,'=@KLST,"]L>(H-N_#>]Z^@2_S%I!N\  Q+Y)KD)=BWF0=Z1PQR@OHG"G&
M_ Q1]RQ* V3Z$\YZ9S;;/D^45Y#_9)MR]501\E(PEV&]Q&:Z9#Z;N3"]6>!Y
M8-O//3!L$J$8D'I$L7^AM/VC]:,EGTN5@PWN8"63%#(BQPPV,/"TA2VG,O*C
MQZ8W\-I$;5M!Z%Z[:)VP)1AHDEV<MJ88@]4?TRB0(5!EX6F^@E!%?@]N!<!)
M&W$&-K8-8LSG9+Z)(9/#0]LKX+W-0:%2YT:;<U/\N6!DXP9)'(&!1U;BA($9
M-^4;9J[UVND.6TZF3&UJ3<B+Y)D@?.2QA,*')#[)$*!@80V!MB2]$W\JK;OT
M5<1*V=0N,F#8FQVFF)"J16Z]2;W$-4;M,=7+\2?75UX1:%;LFBNIZS9"5#SJ
MV,8SU,&O0!R^F5]#3%6698,4Q-R2-^>V14'S-\)-A0'!-P5/FKTA,#0Y4-#$
M:2#8?5F?Y(/8'"29"B%\Y6L;*&S>9RZ.21H7'%T:_"V^- F"&T4W!*$ *&PN
MFH\,9,H,%U3*-!>VIDAPN#!,R.4"N\X[/_#?9A]%>]#'*@E!R>$H9V$P&P!3
MKH8BX#0X33ER=\&IO0^O1_'H^\L[6<2_BU"ULV+7_.T$MI2;MVP.1'C/O#NV
MCN#==XM0TJ]>KJ!CZ?%!@!Y&(H+\<UN\9:-S8<G0\!$<>?X!F!RXG/^:<M!I
MB+F%K(B$=.1@% 9K#DK_ OF6W;%P)G13[K,IN5O@'8]?NY%'FX':0?'I20!;
M2N;=B90/GHO.J6_H'%J0^B=)E&L80$CR!D10%). \F?I1O8'*-71S%4.6Y0H
MJ,'R*+-=IKK#M$1H@<1U;\^%II J(VAPR!&P. [=24+Q*-R2042AGR>$#1DU
M :4G"SJ<04OY>0F/T88':E/NIA*ZS#;<IB_BCK)AYG@!6!1"!LN@CIAT-JF\
M!0!2%1YP\>MT$-#!ZZ[F%5*;AN97^_WK;V!_AN$:0XC:\)7Z>?']TP_K8AH_
MQA9\(N2$<HAF$_\%.IN+RO)9% <P#E3'TK@9!6 CL9<*<'#:A,YPQ4*7("M?
MHX;/=< 6-9ZR/71#:; "7[KI28^DF_:&'Z*\VUYSU@.QOF:J$V%%-\>>C!7
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MN_19[\#''!LOORQMD1LJ2#(%35;^^J=7[5?T&08^59]+5N4G<%YD_0[BY'L
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M>6#L AH38-HH';NS!.4';!*V@2)@LAPOC"K.>+YTF8R3](8)J")#R8' )5&
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M$^ZFX!8L&4;YG/C9Q((;5%S'2L@K2]X?EEQSDRA=;8.UTJPH:=$C*T9")5.
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M8[$!NV##0. )CMB&B^$"6M4$H DK@V_+)&.%\_"*[4D!-SDI^*CP:8:(T+H
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M]3HIGD^9S.(TQT- A00$$<HX?G:BNXX2Z*A:IRC+@9%Z%E-3N$9-LLEP?C&
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M0>&7@(EL_5C60*D42]*NYU@],=:53B8R+HSACQ@C.?0:S0=;<[QJ1EY)B2
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M57HTF*<J8N0&D F>21KE4H^]BSTW<EE%_AX^$>P&_IZJ'K9&SQFLF^P-5@>
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M4]WR%IT5X@G:%FQ-38N#?\NZM:L<&FT7IMXL6$Y)%[%/:0J+%8GLT%K++VX
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M-XX)SX+%,YWJCMIE@?4Y@T]9@8HRMEV]*HM;T,BG,1JT,NL&48UI/.BH%Y$
M@O6%,5)P3RMMN<N*)U(4<X(5&.LXC-E0YLFLF"096#(ZKVODKGQ/[M@JY^Q
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M>3B'F#QT_\UFR'"$XONVYS\,XF3&WRSZSTZ0>W.//O04?*TV';4%)ENCRE,
MY&6@4N<94.D^R/T<Y%JU(T_ T8!C1SL1'-J!E_'X^U4)*L?D':_;&(^39#I]
M:GCL,29?AT:7"IT?BRP_$RKH/<=Q,.^OTPDH1?LP+O;#3EXJ$+:CC*,@ #!]
M1 8@X?W[1Y[YL1_M:]KK/AF\?< (CN.R,$9"<[,P_^0FSC#DV7[\>S_RM0!\
M\IV_W6&']Q[W+F8#G?9>G%YL/^D/,/3S4<E:RI 3<N*Y=A"&81*ZP;O;[^]&
M\-N[SL@?!*YO!8.18W=';K\;#3SXO\BV\ \@\#R>P;N7U;NK.)Z_1U3IYA/\
MGZ'"D^ZB'Y<EQEJI-OD-Q:UA<U^2Z:]O1A]1M_Q_[AMCF:?LJV4U>6-,DG$Z
MB[/JUS?OD(\ G!/B*)3]O/CU3?IC\3Y?SB;%@E_YYK=.9)E1"'IJ?7O*L[*_
MPWQRU&OS3IX([&40F&]+ G,'4;?CN-;(=WJC;M#U;-\G K-&_:$3>7LB,#O:
M"X'95FB&WLLFL!UTTP.6W5^2:E&F-%$%I?<]"IOS! K;89!<X$N2\P++]IQN
M:/5['<NR^JX;CKA,ZW2#OMLD.07"YY5NMFW:EK]'VGM.&?8*4"ZR),H-ANYH
M,/*LH3NP GO@6EZGSU$N'%G=8.\HMR=^'YE>)WH)&/=*++6NZ)Y$31EO,%YG
M4@\)S+?.P"JF\1#4 ,4QW= EJ^YM@(E"?.A2>I-D=X\DV;VZK0Z"EH%.)2U;
M/;\']!Q9=B?H=3Q[-+ ZG):]@=_I-6E9G,D7>21_)@ON,WHZ66'YIN^[+UI1
M>^4HZ;C*B' 'P^$H['F#(/"[=A0$?6%$#$>#:/ XE-R3+'$"RPRC?>HOAX>2
M+\MV^)AC2]2B3+'?+Y<BV(NHO.$RQ#5=-V RQ#$MK,C;HQ0Y7LIT%65ZSB@<
M]I$*_:%OV_:P-^#^,]L/W+[3I$P!\CL@R"<4#C98\2=+XF@0R@LE0CG18!3Y
M?< BQPG[H=\9C;K">.WU_16'[&:$VI>9X+\R.^&>3(:CMR,^4=G-N!;8?*P&
MMA>8'179!HIL1Y'MVX.>;?5[(R_LV]U0D*W=\SS?;Y(M'0!+I'AJ4\$#*1XZ
M^U3+=CWIHY BKQ"/(T?B<=2Q^[[C!!UG:'DA&!JC8<0MC9'?<U=\I]O@\9Z$
MD.N8H%2]:CS>):TF/%@A]*U88..#?0JAHZ5!4-D5$5IVU^J-?! B4;<3>$$0
MN"-.A)$?]5>\R3]'COB^9UIA^!*TP%>"4HZ*B;D]?P"XU(OZO:[= W/5'=G<
MK' CI[-B5OP<ENXY@1FY^PPW'SAK/NY<X#>_?:XW+*KW*V(^I#-J(!6>GQRZ
M*_3H*GKTW8[E#P=.V 5+P0I"L/I%D&'8#X.P28\"\-3$K)M/9 >SI_0C@<(5
M.:8?[-/R/SREZK5CI:^%OES7ZUM@ D3=P![:_;#ONQPKK5X4=A^'E?O*43)#
M, 4\ZY2E=#09]%\2G'Y'K92,ZR2;4">@*LX2WIGE!GY#M'F]JEJH,@9!Y^^-
MG([O.F''[=FAXW6$]C^*['Y_K0<8H3PD(#^91(A\(+Y]1IV/@NL?,5Y%GL*K
MGMWM=OI6OV=''0?4C5Z'FP!VT ^'PYWP:F]YI[9I.?9+0*S780C\5U%,;M,L
M.^G\FPG0MA4!C@:=H#\,!_W!<! .NFXTZ@KMJ@M\?<6M(V#\='%B,[ BDPI_
M7[ F]=HQT(DD!MI#+_ "U[5Z73N(.H%O#RR&@4['"P;6]ABX-UW>MT+3V6O6
M\^%AX(O2Y3_FBSB_2OFP[611[54$'#&=N8K.!L#I@][ L4?>*'(]V_%=4577
MMX9VM*IJ"9@RORN8S\,?O%_FDTN!CNV:07#*%CH>3/,[RH\XZ'='T3 (?<<>
MC"Q0*0:\UL5Q.B-GQ6.S&Z;MB=MW+-^T@\Y+P+37H>5_8I,[\RN#7OJNF+Y;
M5H+O<Y;OGK3^50H-%86&KC>,W)X'.K_C=7P'%+!.,/*BKC\<>4YG1>>2,/\]
MB:OD"R[[T_0?%:/7IW/U.YX9[-6S<WAJV&M'RDB5_7MVK]<9N:-N$ ZM3B_H
MN[V((25(#[^_$@Y^(%+N*B_^DY3%)*ZNL25'Z-C.AQ>-C_O)13T243)(IDF)
M'>W'UW%YQ6<X\)ER/R/]]'CIUK$5W3JA'?:&P[#?C8)ASP?C8L3K3.U.WW56
MN@EHZ7E_%OGXB3.$7,NTPGTZ<>\[U.,0)2\7,SLJ:N4XEN4.AQW?LGM1V+/[
MG:Y(:(@BN[N2T+ E9NXK=]0RG4[P&C!S%Z'B[)KD?.BYI9LDRP..=Q4^KZ )
MSV,QY/"YEZ?2L3J]" 2J#6IP)QP&0=</^R(]TN\-O968.V-<3U>R83JN"QSK
MZ:HV'G"@SRED3T3ZVHDT4-EIGM\915TK&@:>W?<Z?:<_#+GR.P*#=L63LHY(
M]Z53F*[CFU;P=&K%,1#I"XIMT<=ZJ^/?T_@2YXJGW&#]NBC&WZ_AMZ2L^$PA
M&B:\N*\8_J5W2GU->WT=OG_1]3A3)/#8UL<OMMWU"0@OKC>*[+0UC^]H+ Z?
M,5HNDXE.$_<D/OR\$/1SZJ%'HTYV?%5EV1VY0>0/O,AU!G:W$[I.W^/JI!TZ
M'5GJ/%ODLJ'29X8,788'FG;P=#[5*#)MZZ5479[(X;#(0>N:&O3#3J\/Z._9
M=J\3#4:]D>ADY(3V,'PD.>S)Z/*MP R]?9I<!VXY'7VKF8_YN)@EQB+^D4AA
M>@K.KU!BI$(I [\;#GPO&G8CSPDCMX,N2$:)72L8KM9J,_)C@/Z&<'[J5@"N
M9?HOOPW_:\9'UU)U"\/A,!R$P=#M>WX4^F&_Z_9$"_NN%;4U1-T6'_<E%1PS
M\%\V/CY!LL@!"XW?"UQ24LX &RX7QF29&+?IXCK-C2)/C+LD+KG=Y3\Z^_#%
M1N==1Y&P'7FN/QI:G>' 1<(==#J.;#?@C5;B6PC_;P#^ 4"?NI//TT6<4?+7
MITO82HSO>_J.,QW3?T+W^@%%[4\82QC;T4LH>MUH-/*C4=AS_.&H&_8\+G2Z
M@1.,]HRQ^XH)A:;W4WN4';H\>AEY).-57_A)95RA7JV1")#NL.MV[1"LF)$7
M6%&G9XD>^JA'KE"O NR3"Q6K8[J^]Z*5Q=>.B8%JT-WO1FXXZ%N@_72[@_[0
M"2U/3&:Q.RUR9 M,W).P".S(M#O[+(<Z/$Q\0>D!3:M$KWM]M!ERQ,06N9J9
M,?2"D6TY(ZL_&@R<CNMYHAK1[]LKGH+ME+8G[&_6"0,3UO82W,FO ]L\2_7<
M#H=NV!T!7Q]UG;X;^2Z9M&0BH)6[,A5E5VS;6Z\#;'>YWR*[ ^?KQYX#H^I?
M,\22EKC_J?JUA48=1:-^/^@X=L^S@U'?ZP] +MB#8.1UG4[/]YW!2M.I>J&A
M4,;N?D+QDF,'IN?N->/ZX+2QUXZ8KLK^\"W?]X-^I]>UW6&OUXNBP9 CIC6R
MP]5&]P]'S%,5[*NS$-A<E4S:"=LGBKT&W4U+ONIU7=]VAF''\>V1;X4CSQ<=
M<D(K<CT]VX2 *I0WS3[_&4(AL$S'W:>SZ"AX_Q'CF);1Y'>'_2!R![THL'L#
MVXM&LL>VU>^KWCB[XMB^YB:&'=.W7E/ORY\Y8><Y6QVD6NJ3[BVR[:>.6K]$
MY2U2E&W;;L=R^U;/&3I^MV,/O8%HD0SZ7+0R;4N<B$Q)T2G\*;OJ=%S3CGYF
M1X3#T^].:+T1K7UM\O30[M@1-H8=NJ/ P=$_3B0:Q'9=9Z5MX(/1>E^>+#\T
M V^O4R&.#JU?XBBN_86WCY@>.XH>'7MHN9;=\4' C!S/"T(K%&T\X?]7? 0_
MHQZD8P:V8WI[#6 ?A6PX8I32YD7WG$&_XX"9,ACV;,>-(ML?BDGN_6BT&B'[
M"345CNE'T9[[XQPX7SYV$Z-?S&8IC4QA=>F(&;"$)!\K3Y/=.<4F5FG1UU)#
MHDX_L$"U\ARKT[<]=VCWA7\@Z*S2H@9T#!_J(-^.W?^HTO=YFL'NRV4BB=-J
M$&=!C\H7L*%U]+AKPY2#TZ)>.S8&JK4?#MAR7= Q.O#UT U'W5 ,?G?LD;,2
M*7L0-K9)BA,VONA01%NKDH1:E3RVC<.Q-RIX37M])46FGTOA<ZT0[4WCK75A
MV<8\+HV;.%LFIN%XIF591G4=E]C+9[FX+DIXP,0T\D)\FU85=G>@SK3+1;6
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MSVR'EOMI2,7-L)1%<2<1"Y\)I'B3N(-8>\HL9A8R$/P#@FDU4$<:!KI,[\]
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M.+G2!/8-V$G39AAB<&(0M,81BH7BUJ.ZS=!@1#H[UZO ?H!:9!2YK2:!_=3
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M #5N*L1,*FZ]D 0"98R4S&_T@',NT<YN:EP]V#_%F/0@0H(1]-?-O%>\&V6
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M0Q$VP&+/&)"&X>H0$G@3?./'8_O&.>GZPK'R^Q\61;Z\77S;X]3Q&;]9T R
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M&;MS#]I[G'7MO=L>NCD99 A%:=],F.\EYDF+@4]BRS$'B',F,$4XN):;>MF
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M,?XT64_Z6*X6M^L<YCD=**1#_+1(:9'2(IW)(NWD"['V 2J!7-O@^$HC.#7
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M-SC*,$YD!Z>*RU9@0@F'!&*))10$8R&YJ@,3@#WI)+OVP&7$8D*),H#/<13
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M3H0+_<AAAN%'H/Y;ENX#I,N,63].G95""H\"],-+;Z:M#USVE)VZG@NDOXK
ML60\SH?4_3O_,;S)IM>Y5F?S7.-_-QJ /DIS R[3Y?]9%-\!NC Y,IN.M#IO
MYG4QG(-PA[^?4EB#@$)\XAYBPE.*=WXGWAFQ 6J?BS4+70?K9#+9;\F(7=U=
M,9/P6_LX3L2=?88K^SA%LH+_GW2W]+F](&I<.QWUOU">/*8<: \,^Z!2X"9
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M4SDC?D-MBA"'X',(,%,T-W IY0+X13;0HFR:C3+MMIC?B#.#0Y<@A!N&-RJ
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M[Q.Y>#]^NV)'/XAQU5B^FJW.7 RW_.6!=O O,$ Q1MEN'@R'B#.PFT\5J!D
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MH"LH&^L7UE92NO-U^Y=]5K$'13X!&OS+7_^S@"'G=Y*6(1$LY@LB<7V"-*J
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MAQ\_MU%3Y'^1VH$<C6S5G-P41-B%6X'<XQ2(+L+NX/,P$RD72Z^3F7XBA$O
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MB6OLAU#QHM9MQ1IR#\%0:! 0GJ4-X1A=:*0H#PMR*[[%/UUJ'P5Z9-,^C*]
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M:YHP/:@LTBD=UDFYG,Y-]%Y\$SW?[@2^B)E>[!L@!#JIX=INQ$*9]1(&H?G
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M!MZN!"3*BV)NHLG .N9Y?F;3?EYD]2'.95ID<)?;=#K 1TYGSFTVQ0/[P_D
M?KF:CF_,J4!W_?DP-5Q8O0_\/EH5R+[,^ND<[M)= OB43_'@(;PX7.5V/!\.
MG&MX0S@A&\'KSO+W]3K-L%X3'VTRF8Y_ N?,LN&=4Y'"8<2)WY3#N(1P&FA.
MM$L]D"%:2SLQ@_(@D<&2. G@X:MG_UIO<5PN8P*K&!K", OXZ6I1^@0WX_FV
MK5UDTYA1#\3!.L'SZ(7M'7I/FL(-+Y*:\S!,E.]*V [7#VV#'24B\/A2N.!
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M95+76KZ1,08CQP7QML;SL#*Z;,,U5K^4U*(QFX+;-"HE\%<&:U5@172A3O0
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M6!5FKW@\X[ZUOO<"9&Q7QB!_3/;V%6[\%EY=F78X.F(=@U5T9BF&WE)SS23
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MY<J'$M*P;BFV 0N]J[N%?A+RDUDM46"/<HC )E==1&H8,A3^MN/[W*@MLDK
M=7NRB7,Y*VM5#UMBD8$].MM6L]@D-EQYYUQ*$'QR@S$FGFV)%!!Q;;80U9_!
MMAWE6/^"K98*A(S:]HS$R^EL-OVVF;YJUYSQV@%?' -ONKP><E9+;8F(,??[
M3/V."T[PEGJJ5U/5"[.W#[V[LZ^T3=#[:N)7-B2LG%H:F1QY5%6S/.=IFH';
M1FP0A?+-=Z%^,PJ$^R%HHI#7WSP'&*PKE'V51_BXEGVM'RR4&*E%L5"13IVD
MWSS3K3SQ66%+"WC4'Z.?0U(]^C29?@O*\W>_;D^'GZ*_AT*R6?YM4'3^_P-L
MT?^=SO[X*5*+A0]CYC?5U_GN#J+_'8VOAMXY7WT1UFMFTT4 &-NZV]^3V[OY
MC5_73]&'D6>)Q?WV'7\+]:(^VMGQK(#]OZC&MPVB_Y/X:,*S;X![]\_5HR^1
MGB['V<'2Q/L2D\G\?OPUF8P2_P[C.\^O?F?'X]1; >U_%(:I>M;Q5-9>I5W=
M?PL7A!O]G%Q%OXV^;M#CX\UHZ@DUNKH* TVS^V179[3T/)+^$:[Z>>1W:SD;
M_91]]VLR'8\RKR:S5>\G(66?K">^Z[-5/]VEV7G:/SP?>*_]-CME*V? _./B
MTT44<FO^?3^ELZ\A" JJJ-R>07USP],W=V?%3JOGC5=LEQ^[56^^L?I\R77V
M6P'NAOO<EG3:G@H[*Z.\VH"<;#3N+$VB^1^C$ CD+S./OK^>3G,LXLO4+R+Y
MD@:QR?8\1VGV#QD/HO'H>A$M1L,_,A#?Z^RGX7M_M_R_G@"7V62 ^?!F.AU'
MU\EP-,XZ4'[(BB&_I>-Q^.]X>I7-!JBMVI.K-/;%RO=+B'4(>A+OGUYHJ9RZ
MAY[LR!-?"CVY1YKMH"P=WA>Y\A!_XR',R]]6)XWO Q+@Z'KDWR'#!5>%V523
MJP^CY++0&2I7F$]#8AH'--( QTQY]TQ9;BG7" H@O <6:U/+X"K'O$^.E1+$
M&$21=^9LN)02Q:B$YC!(S(8*E'.\QBQQM[R]36;^Z_EZ@<*P'AA42/W>-1G=
M^MAA=K^9M/-F<SI<S4#;#?A?&(Y1L3D9^&(Q=&WEUV1VJ]JBE5$K!FIF0PXV
MXL"-L_@7@U ^DI)]4Z"44EXP(#&GK4-3TI=!4^+3AZ8,H/^AH>''F\SM;$*P
M>[#)1P\$:_8E"J.^HGBEHUS04;\''?66X2K*J0FY1GYMW,=N-L,>T.SZVOVL
M>5J)5J=>A'$AK'5(ATZ*4%[K0M:;(<L=H&RK\W]'^G#;X0JV:P^7J^"U_,K?
MLH&FX9</8#RVDIO:&^4CP LTVEW;0WRT_)Z_SD+<O[@?1'?C9)+GD,)Q4S:\
MZ@VB?N2BSZI22&BL43YNP9II 9332KM,]&--G5&T3=$O-^?7L#7^BKC<F [*
M/D%\P.5V3?]98XN<N!OSM^GTZMMHO M7_,TB;^4*0%0*0&.L!(<B5@#&7$LN
MC @*  , J=T^.BR)6DKV?A,O7]5L8SH0?+M2M[?;W17=NB4)5;5AP&^5(WJK
MAEN 6@^#P0Y: !7 !G-LA!?<3&XAB2$E6VW/31KN]ZL-R2_.2EL^WR234CET
MT(![YQVA[4'%O?WNKA+X6!OGV=OP35V *EW <8P0A\!!@6+)I-<)R.L"3G2,
MA*#F:/'[KZ$ 8G150"OXZ[,MS+_KHDY@ P2:].E[QZ#M]RRX;F,F\1D[!-\_
MK@5(I048-C$!2FG-)*(H9@$2Q6L!'L<"8;%/&\N+M< OTWRL\V11^^YIU+O7
ME7Y!!HPUF<_;EH=#&*DID?FA]R%JQ\AOT9%X0H?P&H*,(#Z2 -)2%FL)K%<F
M(1W(-=(0(K0%P]VD#JE]TD%M(7W\P)N<0?,D)YV3%GD6LBYX!33B!BCT2[K8
MK&'I"@CQV6$-GSJD<*YX:QT<L18 "VY,+( 6D,9(ZZ!X8\Z0<?$63FJCSEO:
M1?<,8S+@N,F,S9-@QJ>"6=R17OOO_MM6. :+,&TJ"IT&-P_ &2QN=N"AUB%O
M<C"H*+D**US!%ARQU4:""NS((26M9=(+J0^K8H( 8PK%VG_$%74/GHO\6A1#
MJARYUY-'5>]SW .2?7MN1)L=-W>S42@K'=^OFED6TQS'R*NM<0VQ[&Z6OJLW
M'Q3<L$C^#/T!R]DD;U]8;RO/6[3\F\Q"@\-5!7LVF@RGMVGX=>HOFWC3_/VJ
MFR'T,&R&!5&!:I277&;XR3\48&A^SV8!>V-:]@3F#POO\:78].P)W4<D?OQ4
MI:J\+6E1+ZQ-9^D#>SE+KM),&/(.C;OB5#^Z329)CDZ=<7W@K-6.W23KC4Y9
M,>^#I<+'5 &PABP++>!$V5AI@0%Q5CKJ;;(QA!!AQ58P]-YK/<_5HT7Z8?0U
MO?H<"/-+H,L1K>O>^(3T8COS<1+81<4V5=!%3#*EB%?.Q@(D74PX"JY3# 3G
MV%!:[_'?V**R N7G%:N:DE.[J:KQQ;9#U ZL9-X-EB'6SS,A+*2SM/>5B);%
M_%>I5^'#7+G<K===#=8+K\K&LKS38)FCH)<M6:46F%>=;'=YWU9-Z<Q2?]]A
MJ5SFBWRUZ9_E8G= +(8ZZ[QC\\N76?KE48637;9G.T(.85"X,_[OI4W(EU3^
MJXY]-PHM:(O9Z'*Y*(A5JM70+U$B]<_O)^GLRR@M8/_"<F[]U?Z!T]D?GD6&
MZ4;[78[0F1FV:\\:TUG16^H?-YDN-D< ^-4N_5:'YP>S6MG+0+>[Z:K9=+.%
M\:M?:<!ZR+I;ZWWZ6Y O!3IB6L</S'LW/*TK5GM@%Y)J(S;MQ&.]N>N+'N59
MZ;:5$8*5,B*4(1 S#&!LF>&6N#@H(X.$CJG;)X'V*;U+9IFIJR*Z&K[:7!7X
M&\FX0IVJ*Z& ;5N<P!VY(J<+6BSS%QYIH=X)=+GFZ>Q@VP+V<JT%^L-Z8ZG_
M6SG2(?02+QZ"8MN8IU$'<-\5-N7\7#VCAK*Y!J22HW0&D-EUE,Z=2YZG7_+P
MRJOI2N-77<B9E*W3L7NXO)G"?]!CW%-Y%U3: //=HFR]VRVS2OZSRRS@6 '_
MY>R>-;W=>"V7(8)\34;CHK7M(66VKJ\N_6/2KYE=S#3E:+YV9[]=7T?9-)\P
M,&;N54"XN5_(*&>D!TWT<VCR4W0S_19:L]<C=O^(Z67@I&SRS$H%K:UOD@;[
M&X@4$!+R^"YD!KPUV;U5V=O/,J#(P59;82TU4'= -C;;_WJ<V[6P*?/EY;_\
MOS*LF)LP'&>=OKD-G&\L+\WN5?4WKJ',/-0'634Y3J914#%!CCT+3R>%,*^D
M:6O+3ZW9G.PO^VVV./?-YJ__Q-::S?%AS>:DJY"0SBN*>0$=$G3+W[V#GMQV
M&"12^6AD'!V.#QF .JY'Z7B%/9*C>^3.F#<:LR0 XPP77L.'"# +2W(WQ^O=
M;],:JDWT^RA$,Z-D$"G_JC/_UIOP*N5#5]]/2C"8."A)_TIA!2NTGU\7/KS]
ML,A-8)(%9_FZO+L7T.Q":.AY,;.*F25>+<P_]($=+=>;J?T/HZ^9F0P^5SH*
M5JQ:6O0W3\0[3ZD:W8)Y^SF=^5W/%QSL;&;W<B"J))]\M@6.N9$84_]H-\S!
M5<>@Q3[($58)9&,6QU@:5$P^04I"L$_'X)Z 8S7H[KUBEFQ[LMWQU,_W9BMN
M298O3)IQT2;B]_<M;U\%BZGCH$@!-/Y_1 JKJ=>H^?9A90%J#!:SC=U[^$#Q
MB=U#_(*TMGL!=2CX(FO'5T%XR[Q6$K#%KMXM[T*(D,YNU^"2LKD?Q;E"$9-L
M2'NX514&!M#Q[-"BR&^4861Q:)(I(>N]\1SM5V;:7*ST=P'/^3+ ITN_*\]#
M?-H#LVDG!E28"3/[6OGENTX6JK7]L.%7-X<]\PA3'AU_AFK!&)3<&6,L4]9Y
MA5MX0C'B@M?P9YR#6E&NB:3.&881)B6DOZ7$ZL/P9]H+ZE\,2=/#T/0P-#T,
M30]#T\/0G$?M=@]#<_XP-+)6 ZFU UP)S+QSPK54@@5W)7-8&*"XU9;6_6%H
M0CASA%CF\>)(-I!BNVBK;USKKC+KD6AV2#\$L#HZ]X(N?4@C,1-(2.F\*HA+
M\1?&M=K%^@PHFD[(/R4#(9J$M.B^G)^Z-].CT3RH!'"E!#0P4G'  476 H&M
M*C.3D%'&W6%P-,=+13XNOAP.*.Z1Y$[)?C]5.[VJO7O;$#5A@F@%+B=Y *>!
MG !KB(:&X)4PQYQL#8Q^98R:;ECV@< ]S-PI&?8/?7/Y8_J 5_K &,I5'$NH
MM*:"(TJT6^D#K<FK=9=W0O(A' BY?4#9=YCW'>9]AWG?8?XR;TQ6?5)$.>*
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M(A9*:*RDL'3L"8GEIMR9O%[(/_ JH,@N%^FLI'/+[CT@ X3.>\[9&V?+VGP
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MP+1/;'4W^\!Z,>[%>"7&L-8Z0 @U $,C%8<Q-,*PPO4'0$NA#A/CQEP;0="
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M +U1 R4G1 D$J"$^+HFA0UIK7E0L&"'A4Q7J#R*%O([>0'Q Z5&11;HI%,^
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MOI#5.D$@)( :XUP&& XY)*J *B2.2K)5;E1N=,LCRP><H@%@358@=#:YWPO
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MI[RS./#*Z>V6)O4<_0A'$U*#?4 H!I)J1("@7#C#91'[<&'X5GGIJ]DS".2
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ME]D^(9VH2HG'FEMLM44:*BJ1<P3&1:>[X52YAZ0SH_DLO;++F7_'7S/J/GA
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M8/ *RCL6%B*CI1)8,X8THIH4>00 8M8D[EW3>80>RKO7"[U>>(,VZ+R.Y!H
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MO-$= =%Y']VQCLC*JO)HMMW2*\F>F$^.(E DX08!&@5(XO[Z-Z\Z<!$'"R1
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M30\&FGEIH>F/__A@>($T4LZH:_>#GH>?P_E;6^(Y<O9</O)(.LQO!T5PHQH
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M 0A2F49 JXB6#@DM]%+OX59)MKU^PABP+D;X)6CV.'OH7 CZG E:UB6Y))%
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MTCC&ACY%$FM($4E%F> 1*[K<\WY_=>U@$D)V)7SS(V?.&E\;#?<P4 P"A;G
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MS)C8G*H124T81R2E"BC;38!A5J9JX)2R1JH&!XGD@ ,J".$04B9TZ PB&($
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MM@6N-4N?QPAV2!=\=</RK[/,H.748/V?/]CD.9]6%O)DCLNZ/-)6C*XFI2Q
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MHV(VL>KY^S)?N6YANZ! &C",G9"PWGUC:7O_Q\$9$&XTLS%,'@ML':&18?=
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M0)*@TOP@+(6'\7H=']8CR;J$L3>-]=OK>KMD3!^QRO?1ENT_E_Q?LI#E9;E
M8R*51DG*< HI@%Q&,8*(R, %(&,T/8C&YXYGX6D[<X/U#VG#T..\"VFK&N &
M=#H-D?AV:4+6_F1 $8FM&12G$I,H304H4U419\G.T?ZM],'CIPD$:-= XD(3
MYT(31EVLT[<3%D,B68J)0D(C&L6JE!-$L\,X_8Z?)J D74%;S8LY5IHXF^*R
MKV,[1&I5^Z"+0;G$(A!M=-H &C,4)=JF36@.(U8.NS1JI=HY"W;SC)GM,\$Y
M!%U"6I5=1V?EG3LJXMJ/+6(I#.+%#$H613 A. VH&"O$--A3@VL%%25E7?/$
M"RJ^852DM7,9QQ+AE%"@-0=<:(.'.G!%":'8W9C8.*1H!ZZ(4%>B-L.9QX>*
M9^?["LT$+U;-.N+D-7%JB(VH0% "EB).N8916;@3J0C/R8D UY?16! 170+;
MK%P[6KOB@I4.*T7MDQ5*B$1(&BLWHC'6:1*5(H.)>?_3%EC9GO*"(>DRUJJ\
MN&#E,6.E09XZ75'R2(I4$D%QI%@$@0J*3)P2$LM=L;(U/08)@Y7MVG;'BI5G
MYH/QDTTN'I@G2135) I3K=.4*898@C1&<83"L-\X$21-FB3J8?M2_A=)15?0
M2V[)6T9$7+L"$9$PBA3E',!("*TD+"-H/((LV@T1VU-@4->F]HE6"R8NB'AL
MB$AJ1R "&A&$64JQK:\@$4A"HVA!$$K9CHC8GL[2!8!W*:-O&A'?7,U=8Y#"
MV9:"& [::.JEF4B!5BJ6"LL8IU'HBQ 3#*6>)Z]LZ$$72.R0&@?I"G(I+SH=
MG!)U[ZH8:4HBJR<H'3,6Q:)DV5(A".(=<:H]Y8'#-U'X<R88)>OV3!&D1OX3
ME?(T1<R.7I#!+-(21T#LBE&M:0&X*X5X"SBU9Y %+7E6#NRW"*]WDQI>WJOC
MG1H;O1D[N*:6 ;@/G-8"_77!M4_WN&?CUU-@V@L:+\KU,&KTK$HD)E1+D7)C
M\$J-H4C+,MT$B'1Q/$_@=\6!'4$,=SDX7&!KAR-_7>S>M]'CA0%<&, 3# #7
M8400)1!1C+C0*I*$(P%\P 9&)&6QWIX!M.N @UW*6_5[7!C A0%<&$!@ +01
M#L)12EF,60P9,"8/P90&2UHS '9A &TZ/J%A /1PX=J39P#[>4V/UVGZ9=VX
M\>>.;CG$_H]U.,EEKZ>SU_-IK5,F++]0P_K7BW#MI8D\0],X#F6"(%0W21'&
MDDBXD,*H%# 14"6^I (J&^I/5N6Q)V%"^,'32Q T>D6[.L71!5,O!/4&" JS
M.BH!J&:I8C1BB$&<"AD!8Z''DN.(8+2R1NE)@FJS2 EQV:5OOQ?0A:!.G:!H
M(QDA343"=&HDBS9F,$,RB1U!11QB':WLI_HT0;58:@4QZ@IR:;%]*;4ZH_(!
MPAK=CE,4(2@I PE54.A(TJ _TB1.H%I1/O!"ZB,BM&L8R3G4#US0TJ$EKQ-$
M-<4H=@G*@$J$24*H]EH822.HTUW1LL50B6!&!;L46YT/6LHZ>$^8%AQ(;307
MH9GMJZ%2K\M$$DH6[XR6[3GPJ>RR5ENW'RU:GF>UU9*;_E)AL$BI%#::!Y-$
M,$THE8PFE#&&2%D6B0SMJN4*@Q?SBA'*NU"VF6!X?#;'N6,B:I2-IYH@J40D
M%!8PA@2*D#BM(=4ZWA$3VW0G&;KH0G1IJ/Z6,9'4B0=Q# 2&2<(I)D0CE4B-
M0N913)/%%/[-F-BB'P9+U"7\;3LVWW+95=?F3Y]M50-M3"U,H18D)BF$R+:Q
MD0PK' )R/)6$KJYJ"(1V2,5#=J&X5,J<#D[QVDG'$Y5*%5$F$I$F"4X,:O&4
M)II%%$4,[HA3[:D0M,M F^K#!:<.BU.B48*-9!(1JI,$ L1%I%+*@C+@1@SM
MBE,M5E]1TN;<A^.7]Y?JJTZQ+AGQDHE]R<1NE0<R6-<T,PPE390 6AN5C0*.
M9!1X(%=&R#9YX,<2,_6XF!:E8:1&??OYX\T7P]D.7*-%C+6.1:NQZK>5H7UA
M#!?&\ S&@.K2=,JUDE@0# 2,DC2-(.&!,40B(N#YC*%5-QZ'78Y;=2A?&,.%
M,5P80V ,I$ZW1C "F"<T!2Q!D#!(R[E<L=80IRTPAE:]JJP+T*6FZVQJNOYJ
M)Z,8!"X,>G3&-YV)]= ^3*Q5-7U\H5S;HV1A)^.B8:QF-H(ED5 QESJ-$!(B
M@:)D-DBS9"Z&;4_^X\CRE(\WUEWS*1SZ03/TP%OIY74A@N,B E[78P!JL!Y2
M(#74TM  43@.JCB6%"?[$4&++O!6+?(+$5R(H"0"6==02-O'$5"=<(4TCR36
M*&1I2Z:EQ'L206NJ)H5MYFD?OSIXZIF%U12]_-^SP?2Q,QA]RXNI\\ /1KWQ
M_5/Q_-;9Q*4XZV49"X<U8U$X25.&!)448*9@G$9E,R+),> KB[,<SGRH4.:#
MPYC?QL7A4R<-3WS3*4(7\GH#Y(6: 2:D$H6E!A'F)$ID7+J+="H3&K5 7JW.
M0&07\KJ0UY&3%VZ$:0@10B8J8IH@2GDJ$?32BT=)RE<.<=R5O%ITQ])V7;%'
M1UYOS9OZ.7\83Z9YOY-$'[[&ZM(7Z[+7M[C72U^LBVKP)E0#T3!L1:)B) '3
MB$I)I(@I38/'C J0S(U%3++)R&PHRHWTSC\8^3\QNL'7[$=>Q/G#Q,COS+Y,
MC?KJWLB#P?]S']<:NO\,?3O_^<4FS%H5(YH5@U%>%*'C8J%^#(I_FA?_L\3'
MO^7WU_FD#3\< %W0;HK8T6D9%TI] Y3:M)&%YBE.*,0XXA%5 HO$U=1KFG(2
M\P-0:K"97Y-2&1==*EMMN'^AU NEMD^I#7-;8LR54B2*4Q5I!A&3W'>_T#2*
M870(2A6O3JE4PBX#EXF EQ9A9]3T1M!&*PW,!4*"1)RFD+!(21(JQ216"ZTT
M7DV5#@?:&M7CKN%NY]!-YX+O#M]9W;"#48A@PE6:0"I3C0EDOO=8E(I$XN-0
M2-O&=R2Z$!RNMNB"\,>&\*)N64 P3FDJ8X&U2 602J%@@<$$&BOL*/2ZUA&>
M=@%HL\[X:!'^;+*:?,^:2P^@15J7 #:4.<)BP@!1 F,(M/[_V7OWYK9Q-%_X
MJ["R.UM)E:+&_9)^=ZH $)CQV>XDDZ1[S_XUQ<ATK&U9\HA2)SZ?_@5X$2E+
MMFR)DB6;LSL9ZT82P/-[[I>8EAT,N4/2F*-0YHJ#;-$KBGN8=&VNGC.)P[I;
M2FP-IT *J9&-B21:F$)_,\PB9H]#?VN9Q#E@/?;\W8DOFL11HSVRP88I:6(+
M('7>"#>8ENV1L87[\9D_6F-KF<09]"0.X;,F\>?<(NX9=UUZO0&YI$:N%@AJ
M;#GV'!M0JB5S17LXX)!#F#RY_E5]J^[Y]#@$9WY__7OW0IGT(&JS7<$J81]#
M==*;%TSQK([O(F4,= @:X CD%"*EBODO!ELL[3XLCL>I8X>A> S;+);M*/[(
ME+/&[ K'(>!820RTD][RX, 4$\2,1MQA]N3*V:X$?U^34?HL2L*[UGT/V;UJ
M/L%2EG37?J=KO],F:T4 -'0)H86(>6RM<5P@;;B@90:*$ER)_6G/+?!&(F4/
MH58-V.?5C:?C$QV?V(%/P#I332AN0P-VX6UL#135PJ*"3T@88[0/*[N].DP.
M4 ^W.PNAXQ,=G^CX1,DG<-UA2UG!8,PU\SH%=U8#&1?ZA$$,6+3'C-96'.*\
M1UG7]O,%U:-Z<RO-#?;H,AV=!^(H6OTEX_-&#Y>NO=/Q>XP0H#4;D@IKAS C
M2&"BH4 4NS(HX"2LDS)*Q\V[4+T^GDVF-[4'YQ:C.2L,ES8\.JPG2)N!Y:-5
M&SH,'!P#K.[S)S54"AM@-)08.4PU+GLY0&Z$M5MA("CE;;1N + '6K7<.Q!T
M(*A (.JJ90RA<!8:K!3G@NH86%;HHY(S ,1V(!#M" +9PZ)K\W=:";&>%@;#
M46&:A(;0X[3J\!<EL]ET^'4^2[YZ!7(VB7Y/AM6PX:P7G8T'_?#N6A__KIU0
MCF1?Q6.W5;37-*3;@N>Z!<_-ZGS_&);1:1PGH'% VJ@'8(IY==MY[1O9X![7
MD)<]YJ&!'-S6.#PUU!W3]CJN5/0$;K-?6J=R=P"H ,#J:@&B%8R%\UJW-S@)
M"#,R537J"2DB'PF ]L) V!N=D'4(Z!"P#P0T\M5BJ7&,L=& D!@S@&-2MLH2
M(9$-/Q8![4V"Y;(G9)L!CA,P.3=4D1Z)TKP/;=(?<:"EZ60T\@_EOU6$V+(]
MUW _OU(A!"5IR#>#"9.44D(ALE8#48TRQ XP?B^Z5>.(ODS>+QU0%0+=:\=W
MT$.HS:'U6Q/#:52]O3Q21Z#9#MH031S7#@BIM3 QJAK5&&G%2ABM!5)O3]U#
MJ(?Q(1MP=*1^:J2.ZHBQ=BRVAL7&Q4H8@#'%I"1URR&^WVK9DM1;T^L0]*3^
MLKGZLROTK/6ZEUH#A%!C3BR5. XUGHAS)C!%&->C&X&'[FU\?IQ.+H:S??O4
M() ]0)]%#.^%D!2M$R0$]/8P<%(ZB:TE%E-05 Y#I6E,5A3Y^TBJ12\5PCTB
MGXN7ZB60%*_3#:!EU#G*D/.ZA<$\9C$KN1032*QH$?>25&OJ 0&PAUI5A8]?
MS#]WMX^GG#^'6:#&UU_3<>JIZ$UT,9U<5;Z@6<BC[DR"1X.Y,2.4:!UKIZ#!
M@!)+F+-Q-?& 4 _RU=RAL/-?DA_E9'I=G,L^]0_>PWQ_^>JGH/=W]'PO/>-&
MK:>,0_,N(YTB',:,4&Q,.3M/,*]-;TW/+59JT1[A+]N0??$$?7\G%(0;58E(
M&H$<,PXQIXF.D94E1<>22KVBP3^<HA^G>SVD80F#/8B/@E>?3JN39^?4*0@P
M^IJ7O$77!]#ACAGI&X!.:E5,8\Z%9L H)0&-K586E*++QE2LJ66H7+/.[Z?Q
MMQ^.YWZ5'Z[3:9ZZFU55AR5#2#/[8S9-/*2&XV1Z<S9+K[(GB,Y!UB//)D?K
M)= H;:A7VFCCS05' $5&(X40*N/"#N!UI08'I-$6_5-2]"3K7)ZG0Z.L5IC"
ME&RD,  .4<L!8P)6_BGJ^5C\M#3:7IX3 3T@V[0C3L#A=>(.K6;-?UY^G32J
M_KOFQ2NH%C6J'2&"6HPP=D 2:(%THLPWU$J0E93S)VK7A(CLT7:M^].VWI\?
M51)01VP-UP +Y@C6R'++=6Q9I0\IX^!.5-EBFA 4/=AJ*]&.*H^-*F$=]"5"
M&$]\!F@J%"6QHD"605_+&5RQ))^H%0T"I$?8\^:5SZVN3V59R-FYNDZ&T[PW
M[(LU.0BN 6>M@0YB&"/_-J9.(^:XHPX3J9"I.T)5@,MW\6RQB>8RF7Y+]YK$
M@T0/MZJ6G 2?/V'JHJ!1:A,C02BV%/!8&@-C# KJ4@S+>"7AXJ'4M8-^\?_2
MZ>0\R2Y#1;- $/W<4=;)4%:CR[YS3 !FC,!4Q%P 3C M^9;CB*NM*6M['>%9
M4M:+<7"\_ELR'+^)1I,LBSSEG0^SZTF6C$(3D8OAC_0\2@(%9;GO8S+S%^F%
MYB(O49O?$ $FHD8IL(PCK[XK2'!,H*1 E#DZ&E(M5R+ X0R"._/#.,[W?QBN
M_^$B!^]>E0S1;NSW]&.[SYZ*-Q"QK.N%D=7,6L1PS"6C%"M:CC""0@IL=R7B
M1^HR#TIF8-UDO&=,G!36P^JA5HXSB!V# #DL&==E893R+%>N.)<?2YSM9]J0
M'D.MUOT='7D^-\^)5Y;'W])H.(XNO/H<_9F,YFG0BP9YP/&;5Z?#G]GPO(PZ
M/F,#98/N0S%NE$0AQ$ LO#F"*).&(54VN8VQ@V*IUW:QP\.Q\_O[>]C>R859
M;*YI[NW.2M!#((IZLE4)\CS5GF.FTPUD2NKH)-88*Y9757E"M3(&5)=D:JB4
MMBTR;2\D1'N8/8NI6\^%V#8Q159'':T2A&GH]12+(80&& -*@Y!#IT5KU-:^
MW@)[@KY,IOAB?$!GBY$"BYX]G;=G [A%K?%H3@7@U'J0(Z_CQ)!K6)57,F;7
MI*]5VUTDJ!TDA[>'09O9D9VKY_1)6-;:$ ?4<&,P< HA+ %09<D*U,BZU5RM
MAY-PBRF^/2!81\(="=<DS!H>(4T(!3%@D#,%. & X3*QBX=NGRL1_4>0<&OY
M,[ G6YVQ\@Q(^+DYC=QDFOKK18/Y=)J.!S>+R%K>Y] 3FK]@>#,9O]Q$'(:;
M]2D28*(=D$(IH:7!IFQ,;13E>*7\M]Q?4V[OEZG?R.(FE8NWR/W_DOPXB,\(
M/Y<>%B^$]!HN(.@-6X-@;"RA6"@>.U1Y*@U&9$5B[$1Z>PAWH98M\X[T]DMZ
M#7\0AL+S-X.T5A@KQ"U493=RR9 SJ%W2:]\I%(KMVM3%CS]F=?H^GD*]C=*B
MR<"+=>QL *EH@#0VSGFC6#,!A.$8Q*A,RA?*8K[2,+W:XK*-PWX[_+$>;W?&
M_-&%DU\Z)<HZ6]T9SI&#FG.*M9:44$6JYM[&D34]GS908HN]<62/R(.X93I"
M?!I"Y+!.;*>(04Z%(8Y3RQ0 _G6I,L>Q4BO5<YL)L;TQV=X20\^;$+=L,XA6
MFO"TU)CF:<>!KQU9N'/'H@V;]<"]>MJ=V6:DS4-WH?5%'Y:7X7HB%!):B)C'
MUAK'!=*&"YH/8=5&":Z68O(VF8[]:JNV$@53RQM+/%'5.I'2L[M6%< -!/"T
M)+WMR*D.W"\(W*1.7A>*6PB1$0Q0#135PJ("W!+&&)$]@+M%G1J@'N:M%O]W
MX.[ ?=K@9G6H5UG!8,PU\]*;.ZN!C O);1 #%NE]@+L].P7R'F7[:[EY*N#.
MC9F?\N$TU?MM7+NQF-%PG+Z]3'-S!2+PEY\;JQND@13VM3Y_M$61P#PIS[8X
M[/?S*W^10?Z4U0]O/_7J0[ZZ?U4MK $"\?!=W-.>Y?]>3JOK7"??TK=?IVGR
MQ]ODPN_"NV3T/;G)_&]_NIR6&WCXIWP)=US<=XE"EPCX;L-FV?WS*?TS'<_3
MT*7/_O"'.$Y&9IYY+I5.,WWSMW3R;9I<7PX'RI]S]B6?4^6OJD>3P1^O<OX?
M7GY.1VG.(M]"#&(L#4"Q=M*AV!(6%VY0BYF-V=O:4:6(BRW$'&"*'$;44%PF
M7$MGA52OHM1SZ^N M^D\?96OKPG9-7<7G!A)_(6%$IKYNSOHJKM#"?%;L@&H
M34$,F1>[#:C_K]^6X<7-[D>:7],+FTF1(OYN/O:\/SR*OU:]X='9N!!1*V5+
M#UV V-/S%R.FI@7AY'G(U]/)M9=[-[WH>I2,9_E[Z;_FP^N0NY6'L:*O-]&W
M>FW3]%O>K6_J?Y]Y43P:3;YGT>OA.)I=3N:9_WWVYMUVJR;+J[Y3BC2NMZ2$
M@NKW0W\LX^)U\X;C<"BC94H!A2>XF)\Z2$>C\M/_? 5>Y:_]0@;5ZS4;_65X
ME6;1^_1[]&ERE8QO/^U5,OTV'!>/E\QGD^J-PLV7O_-]>#Z[?"=EGT "&*)_
MJ52*@=_;Y#I+WU5__'Q;@7BU<%@N7.@0O+K;GUG<BJ*__/QJ1?LI/H/W?$2V
M^]D17G&SJW>'?(A-X>>)O]6%!\V[R^&Y)],V0/T?_P89^'E#<$7N.%B@U1A+
M6QIB_O)[ >^OD]&YO\3_I,DTLIX#G$?_9SZZB3#L[7.HT$ED**S9IH8@V$ X
M^ D(IZUPR![I+.AEW<YMMW-0=CNWY<Z)G9C9B>=9_=;_W-^A*O)1KLJ[MNH$
M?9B;3OVTG9<2B49O0,AP++WI:!7#H>=P:.EF8@UBH"U?27@O;>B[VT#],YO.
M_OEYELS28!#5-EXR4C^&V3_+Z_RS_B >9L5@:/^@L;?%O>4V^#6]^II.6REQ
M893V)#M(;MIQ>C8[K+]HK#?&0T-,)*<:(H1C:YQ1DN$"ZXI+M=K6^6ZLE\'%
M8\.Z8+0'#M,0NL-ZA_6CPWIC;K?S>';04HH 9AH**)$LL*XQM_%*2<<]6!='
MB74&00^C-L> '2FAOY3^9GDT?)S' ))15"UX"Z#,K^_8#[_>G^^)6O'KV:N_
MOH:A+'A^O6OF]>DF6$M>IS;$&!!G&484Q(@ZC$&1E*B!T1#:E?[.^[4.RK*S
MUI@(!KS'23=)\'1(4_"Z'(HA+)"SD NK*3+"4%X:KM++A;N"OWM29MLF30)8
MC\*.-$^%-#$ L&XB@)@R4@II%-/.<<8 *$G344U7AESN5_=JGS3A<VDRT%H%
MRP/=Q."42UO&F^)?AT^./4Z%?1]9L\_;<L4 -2Q7*S&A1@K'!</28"BJ/AC2
M N$>K7.VTRF)X1X'K79+VO;(C],<[1A QP!V8 "-.?9 6X@H1EP8I27AH5*F
M+"\GCL7FT9I]&^//>HC#'N6M-JWL&$#' #H&4#( 2AIQ*NTHBS&+(0.24X(I
M+;.EC3>E'L, VILUV@/0,P#:JL/Y>3& HTH2+5V\R._/P1)&-^5@=>ONUGVJ
MZSXJ<+^D S[46MD+R7;O4MSOWIN/&VN;3B(+^3@ =1Q[<809V5T50*M5 %TN
M^R,HYY!;<&#&TR7^O=3$/XQ('7S&6 *$E> B)D J;34I4W:DDHZMY$54,O]C
MD/AJ?&XK>?\^O3U\XJP(J1Q;)B"GLL=DE_7;@?]E@I_2QO@*C"'$#''#&078
M$8'*S!,*)5Z9(? X\(=PRK&!'PO_7WZ0L?''"?XN#?@ITX!?DH?H^2;OH49>
MJ67*0@R EL92HB"7-"X+)X2!<J6Y^8'UI]:S^3#J2=$-\CT96L6-1%.'M%0$
M&",A-<09%)I!%;0:(\!7$DT/+.Y;IU4&>Q"UJ>@?O]3N,D]'#VBYU:I#<>M-
M/L >'Y-/J4OHZ1)Z[I%3#9\4(Q@P&Z,P4]%YN21CAXN$'F"-V%5.!9VJE0P?
M*%&/<=EE^'0I?AU'V -':#BJ "'4  R-5!Q::(1AY0BI8'F)E<+2QVNN[324
M(*A'09NU3L^,(ZQIF_VX%J9W=9Y=9A6DG>RFU_!-].4RC2;CT4TT'/MG')[/
MO8(Y7/(Y#?SNSZ8WT>MA/^U'Z8]!>CV+9OYG(0#Y)II-HF20?R?03G3EC1S_
MJ7\2"/X232[R;YIBL/)__)M D/^<K6T@>W?_V.])%IEDG)PG_?)_JSNFY_D]
M=_"*A=_]^P:<LCH5UW"H%1#,*>608=AXX I@*64QTHR2?16 %\LNKZ:^A2FC
MCS CV?V"'N'^:AIOY'=NU.P_O.46]_9^.G7S+@Y#CK0EPBIFB#$:$U0F2L=2
MX4>42CVN!GJ?IX.!Z*]VZVKO= +>]GQ"O&ZYI '&0#HLK3$Q45I(6D[655 J
M^YB62X\J!=[K"2'87Q6);9U08*$5NPR\+K#3FS299E&:MZC=^L)5XE_4S$ Z
M)+R;^3N/WY:=Z+;9!G.+)4_3[#JTG?\S'=T4"#J %!*RX9,G"CA-'8R1,\!(
MX U)+X4THAPIO8*BO?GD]RJ6).RO^N%;@]4!^)ZL&\=XL22,00):+6+,':"H
MFBA.0 QVS$)YA&=ZKXP0ROYJ17";C/ !PP:\KNB_^,1<<6?NM#UC7.9.MQ,$
M'S;Z)LDI.1- 0RR\>(L1IYA8134$QEH-!28:4X^#GY*M#)Q]I(-"VB]<MZO_
M;C<>Y1_S9.KMH-&-&XZ3\6"8C!IC.>Z=A$(5!U01CW:@**36F_:+22@ $-&8
MA&)H:"=ED8*,,<2%P :6"A%FU)H"[/Z\TG,U>_1]X.U!*L5OO=JP6%RT6%T4
M)[,D>OW;.)F?#_UWWJP0QQ(M;;6GGP>7Z?E\E'ZXN']W-PZ;H<X2 HR.,3 8
M$,EC2ZNE.V1Y8XLA-@3'S#! C:0BUA3I<HM)K(S>8MC, S;^L;.!&M]>LO6/
M<"9).0X#@!TGC;!7=T?_BGM@NMT4CRV'?W17W.J*3UH+UWK$[^$_%P_/%8+T
MA923K1F>$MU1XO)@LCFN\C+YV*TJ?K TX*I7N5&]-AMEE_DLK*O@T,S>G$0M
MT,,I:ZO=6D-7;CX:13EQ=1NT?H,F\^GL\M;N'/@92IVN.Z&UN_/E<C@][P[H
M> _H<^K5_NZ$#ET1VAH''$ZSV;&>WF9E)Z3AGWI):AN=,5M-BCG.O)<=\EJ>
M.'6% B9(*@%^>>TIGXS$CJ+,L0/27H $ZT(;S:2$R"$.L#48.,4P*X!D#6?F
M$1-* I#^T0J0..\AT&H":(>B#D6MHP@W2H L ['&6BFBI> .*UC$4X#C,#8K
M%;_WH@BW@R(F20^T6E/6P:B#4?LP(G73<:HD ]1R3)B)*4082%S"B"+S2!BA
M=F D$>DQ?)#2]@Y&'8RVAA&K0\_$"@HQ0M@Z"(E@(L9QI=,!HU>*I^^%$6P'
M1HCQ'N>MYO ?'8P>YFTY$:?*V7@PN4JCUZ-)EKV)+J:3JRAD0>6Y"=F!>,A1
MLHJ3X0@"-!(!K1868>.(9PD(0:++O!4-A++\-D?X4)ST^%M!!;]X&MBGY\2S
MJAX6;5I\STJ4=C"X'P:O[\>!K MI;*PP,@(SJ*04T!DGRE(-Q6(N5TI@'XR#
M1PC)S.^ ?^]^5R('/4!8BX!8E2#'0'AWY!UT"#HF00(!J(L   !84TT(HLAB
MH2!VMD00 %2 ;1'4DM,#0=%#^%DT)^EP<'0X0+4D<=!QR3!R"!,H14R0JG!
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M^52%UG8EV&Z3Z=@O*ON83C\'*LK)[(%>C^HW3=:%%IP+W"^\^Z1+8^F ]=3
MVJ $H$8K!DDUQ;&!6%I"5"R4DJ!0 HP@$M,=D+6B#&Q$UD-T MP7;=8K/(/@
M18?)4\#D!D@VVCI AAFAD*J0T"*,1AA562T:Q_%*+/[AD%QUTNPB['"_W;&3
MG;#K@-4^L%@MZS2D.(@X*J33WN!%VI0S!G281+[B\WDXL%9]/[L B_;A041<
M!ZP.6#MHD9PV6JAXM=$8JTT8MH&U\0!;($N %5?2PY&UZE)J18M$?7:0OI.G
MHT4^T-]T5%W^M]Z >#B:AP$[!W<\'72"Q/&,C;Y[H4? YS:PN8;''#G@L$0Q
M%1P)#JUAN/28QSIF!&YB<R79'<81U:H*L>$TCU:3Z/!V?'C;H%=@6#=B$L!(
M;6@,8V4$TW&L&*OR%"B#*P4>CP+<:?BG'GBNQZ]@=% ]/:AN0"JJ+0!I&!!.
M&DMBZ@R5F,,RHT@PHXW9!:FMNZU:5?T[T=CA[4!X([5DY)HJ2+03$%.)&%;(
MB=+BYESLAK>VO5GMCGCH\-;A[5"J*"6-=',+8TX@B$,?-P.LJ*;)2N/1MS$%
MX3[ G8B3Z]FHHKFOZZ?<L[-X__PQ\['%];KQV(U?+X&YFPZ\0F''.R?W95ZQ
MFP[<30>^?SHPE%L%#0Z@$W2C?Q\>0.E&_S[UZ-]@/9S2_-##[U0Y@K?;J$T;
M58W"[79J(_B*J;/W;]3+J+CHIK\^E_R<^WT7E-6^"Z M1!0C+D*W-,*1 *9T
M%A+'XA5GX=T3CJ!L;8A)#W'8HZU6=W69;AV2]H D7K==<5H1%G.BD<',Q(B;
M*H54"<'D2KG$_4AJJ6*8D!X ;=;,=SCJ<+0''$G4F  +I(@-C($5A#$;,U)U
MSP72V94F:??BJ*7>$S*TS.TFP'8X.G(<,5 7QL8*$R&4#L/(#9%$8BW*C$1*
M+5F)2MV+HY8Z6 @BO5[7=>WL<'3D.$*-,E@N0!P+C!GG"FM@M"[U.FD%LRL%
M#/?BZ#%M,.X=\PB\7G>0,H4GP]&S:KS9S8 ]_OXX&U@"J5F"8L09RQB7L6<'
MG#EE62E:8Z^C;C>RK#W_">&LAU@W!+;#P3XRGQAMI/9R8!1'0B.!+&54$U2V
MFG6 .("W!D+;W:*\O*2M)M^?3D93!Z&C$R6\3M;%S%H-)>=2,:RLM5+J"D$"
MT>WFB;?G^" (]:ALTV#K1$F'@PH'HB%)A!6(.(JHL$9BKE75=E9I[.!*_>1#
M<=#6%%@ >X)T..APL!>52M9S&)5QWH( GG9Y+"6F"JMJ"BS1F*RT^'DH$![C
M>7B82L6]9.@:<#[?=)!N"NS+<'9RU*BJAIA[U5-Z%H2M)193@"LQ3&.RHH[>
M-Z&H/8<&1KA'9)N30X[/W=DAZ120M$&0<UQG5BD*E 90 &(I080IYA8#E6UL
M5C3:35!J67Y+U/-*;=?HJ,/@J6%P P1)K4M[\"E.!5' *4B95LI61B6!1C\6
M@BWY5# 0/8K;'./02;,.27M 4B--6%K"$:- Q!#Z+T M;)DFK+@0;B6Y<0.2
M6AP"*V6'I Y)3XVD37IA(T]8*8"00,(0:237E!-#RWP2%3/N'@FEUOTZ$/0\
MU#O%\-GFHG1#8$_6C[R!RS3<R$0K& OG+-08$@"ID*JLZ]%(D944E0T3G%KT
MY0#8@ZR; MLA8!^"5D!<ZZPJAHPY)+B)$2),>_6UU%F]^86V@4#+LE;('D4O
M,X328>?8I(=726OH,&0IQ4YHZ3@S&,=XD?.LE%:/ATY+OA,D40_B-A.?.^G1
M(:!" *F%A_/$CIE%)":,4J]:$56.E=/2OUYI+[P9 6T.@25=<F^'@+WH3[0N
M(,.6PABZ&' .L>-6A8%PA1! @C'T> BT[JL O,>[')0=W2]'[J[HYL"^8+_J
M!FZUU'Y!ZMAJ&=*IF90(&0?*+N,(",2VG#.TUO&Q2\]CWB==/X8.6$\-K$UZ
M0+,A Z;>%H04( ?]WX"3JMK-6JE7_2B/0-:^FANC;@YLA\F3P^3]D)3-W@X
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M#_+GH14EA&C'Z:)5,M1\M;GD%NC9W';GH>@1M+\J]0Z*'O%4Z&FT7L.6<"&
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M-G/'UZ*K/%4ANYN!W.*(;V[!WO.7V9$8Q:VZ1.Y7.B1OF,C F9@@'ANN&1!
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M53.%8@4D>J)S;IVE[W#.3.[GG'/S:G:9S/+RA,[ .C(#ZY:X+3;2R]PLC9)
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MF65 011+8C4""ML8E&Q><6R8?>75CD%R'3(BIO/TU5&D$:@HFU]=)=.; ),
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MFKGH?^TE2;#$\^3.W%HN3-:BN,(S]''DGSX49&2-_.?<?1I$U&0^]5_-EL3
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MZ@D]#DZVT"R3QZBEDTZR935:R+!#LB4AC&IZ5:OH)L"H=@9SM7F1+HPNY>%
MX8Y*-&'CJ03<8;][<F_1O:0%!E#*I GKX1.9>W4%G]J>X+/XF*WALVL/2&7_
M_%+LWY;[ZH^3^:&R?1#<GMJ+,C]DY(G),C]06"2%15)8)(5%9E-Q4ECDZ8QM
M7$>1;XI,--N8:(Q4C;JML</?@WT97 PRN*0-B@KYB<C@DM!/9.!_-;-R_@;#
M,5Q]C'R!"6 LSWV."Y@OT8TB<&  ;R4Z=6C9Q;T &_3A_#KB/G=E"DR7]]6Q
MX3++#?[T6_FQS%K<?65WLM&XPYI!X%EV>#@T#]B3#TTOQ): JJ!1YGFG>.2P
M.H6.H]&U6 S*-6H*3A3] O]_T3@7/W0-O[DX^[,2ER,P'D&>L$?AO]DP8+^Y
MZ@C9>TR,I])5?1;\3>#AI<&KC=MY>42<YL"'\6LTI,_7( &Q>O0:GW;+UD(B
M@D3$<K")5!&&&06;-!H&W]^(_TV,@Z'GBJ41/UDUX$XAO='8VB/3:,AQD%;D
MOV8471,8GSIQJ))K>! C%AG1262^D"$E., ,F<-K=VSL1(=.QNF0$S%BD1@A
M,9)&Y*M9C4"C:Z:5#FC,/8,&1H#)8 C,DN9#2T1(FM5'.VM54B!=4B"D0#:
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M:@<)(@4OZHCANQ#N*F9(5PS^".Y>9K_QX7]VP)*.($+B^ *N'J868E;XK2\
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M\9=W\0M^P2_X!;_@%_S?!DYV3G9!=GY!3G8J#@Y!3@%!3OY_]1S2#P$L #O
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MM44&SCY4NMK@ DT+_)43'$!Y$&G1=GR]' &\-T$ -X8S?;G:%BF&P1NW#!&
M;Q^< -PADHD /E-W(@"46!B35 @PB.S<7I+(=UTR"(Y*#U5& -=/0Y'-'(H/
MPU \*"%E^,7_%_]?_'_Q_PM_G1OO"!B!PBP Q1>=A0#0< L&KVB/@[8'#:Z
MB7!S]R"X9*HJO!EI&#[C A;#DDB4'RT#TIJ\0P"]H@87L$8$,'RHA!%.H"R&
M_KM"\H>618<;4$92_7.+^AB/D CC%\5\A?+'6@Q&6'W'RYOR#^:BDF7UXO,+
MXW5* C-!G^WNI[R,N=5.LR484B<A+\0NS^-,H"QY/^"GQ_\WEQ^593'Q>U5^
M_HM6S"W A_@)\#;6MF/ON*P?32Y2NTH&^A)YEF=WZ^1KL2V2M(EQ%M5N*ZXP
MA1],M"Q=N:E63.H^J8GLN"BI-IN?U?=WLLT6*NDLBT=AS:52DG$](8NP0&W(
MK$< !.YU>@<#$>^*^A;SS8>=3W&Y_56PG2'7^'JC/4RO S&H,MD!.S($C75A
M^UD0L\0,J)M<]1C=&#-MF_;>?M(T3[BVE*A6-FWJUV,"E,GAI_-52Z%M>%#7
MZ77U44,?G</5Y[O<ETQ9U/)",30&/-'L]62)(; ,CD[C^$T*QN;D+A6HTP=!
M$U+7K%.#6ETRZRH'W _B?K4DT==-C3AS/&^*B_@*6B%=3*X?7,KAXMT?S220
M&<+PYY6D$6I"O*V<"(([8>GB3W.+TZ@G72R=+]5MN!1>EY^!NAA.3R[P/YR6
M/.Q,W=H)6Q>5S&QBA<9^N*OS_//FA7KLG,$LZP;<($[*(1V\.5^\V6CSZ8)Q
M!OJVTX>+PQ7'M_ "+U5:>"*UV<"\-H1\ES[^I5M#/R\&IV*)K/S8$T8. ]%,
M)=NG(V#60/7(0.=43@2P&\_K1U(;U^M*A3KIYZ!]]P7)I%%S_+H,!*=H3< !
MM_M)J:+"\G%I98A#"?>^U\467AAI3<GFN]""^6U!LSBKTPFY@J>^Z#WQ#H,"
M5%[I"$"=3QQ"L\UW>V8H=_;+P&U;0P8ASV42*B>HQBI!PW*_.;E79,S32971
MBCB;)1^BO4=15AJK56%<-D.C_$.+.C6A7HNX>.>A WG=I0IRCY^8'V9/'#.E
M/F(RS-V*W>R>O9G)Z5J^3-).$2>O8N-8VP+^>CM5+9U3<12.52=I9%';N!O&
M1Z/9'(@ 4*_NL>$H"M]Y.1FITZ](LD54Q:S3$[27T6_L+58.4A" ;:B9/AAC
MWL&K-HJ-3Q"\8 PX;<C=K'MH!_:X=[NW*<Y@--=INF1FMMWE;J(UMY,4.((7
M!\2AS=_'5&V10[232$>@K*+T;QT'_H3!#+UHDX5Z=,]D+(F@2B:QE/3K2])N
ME%FM--YE@2'B,K;FD3TXL94H>63[Q=SX1&3!5O14ZK63KHYB1S!A\RN/X I?
M+3]M>T>'A?%4(IDI6J6-]X$:)&B>I.O>?%\I<:$*IZ='CT=V;?;L'GB0JM6%
MD_(\:VM\5'BCY]"_;O*!+[NWH1-;!(^L,%:F %&($M3O7/&FF,<E9_KY-M7R
M55R?0"]A2P%4M3-IH@%UEB1K;(<%S>$J5"5M0BO#E1]-DCHUN]LA#4MU4T7/
M';O];-)Q3A^J^KB^/K&_G[O1F?600X!9JU26OJ&@3)A\,5R*S,(%'\^23UE'
MBKI6=L?()0#S((/I,-*P"_#@J2WQ$(U>3)56:4U0'N&.))&SM"N<+7]@K50I
M03!X1;9NDV;NR.GQH,GKDX&WQ\C$#)YSR^W%O42/0]@FS:V"8WKC*!%T5\?-
M4]7-DKPA2[1:><HW$T,W.=YT\\;1$/<0;RIM"E+$9LR(M ;E3&V6"^V[%^^.
M$)J])PM60N$'S*=]V=3EWIX\2.9-<*V0CFQB*1(8&I-I^U@R+$9,*BQ841'[
ML:52^;0H++#*:2CE'+0M33)$WG(QOD^O@P#2+_%A*&"XD-1/5@<E=67;X @!
M?#.D; B@Q^+0I>P< 7PSM7<1P')-EB1@[B$X"4, 7\!?L1$ 9%HXU1H.W@$=
MH", Z*[%L!C)O$(- @"=4D*O(0"8:^3ON>EP*V&XQ9: AZZ"X$ ; B#/ZIMH
M6X<CS31@@  B)L()?O'_W\U_S.WNS6G=YC-.9F6J?J$4%*G%"KD?>(R+>WF?
MC6BU%VTZZE,3L8?R]5[ ST(LQZ1#G.6R#ZYF9@3;$M8K;VTHB&9!"KCQ<;0M
M;L6'<NGQ?TC '[O$%]=UE'IXM#\#^^2Q^J"!=\](?%'/3GDL<]RE":JQ1,(G
M:6O,26T</9QP[\)\OE'Q1]G5Q@H8(W;R5<.( O]0"82)[_ZG6\$_W^*N8#[E
M]&W+V#ABG G\>GRC!P/BQHM>+9P?UV;DVVIJ==.;-ZWOFRZ3J)CQ4S?J,([+
MYO3[7+</=:O-H[-[YYZGV!"Y,PUS8[<EZQHAXK]P!$,63W*W/8="G)-+RJ=T
MYV=VT88(BR!;[+0\D\,Z7K:6^I:@SD.:*<?NSS8O0(F#%A>E>46;)1ZG1;KJ
MT@P=7IA/;T7 W12L922*HZ/SM?XJ=KK*:,F)C:B<4!<+P=O!43]VQ^O%>G<Z
MI^.#"M!"U;@VO13WZ$A,12IF#GM&$IAIDQ6&ZF"WYATL>< @*$;Z_U\'XTP&
MQ)M\I*]J57I/8[M7.>R;4&]Z44*Z[-2>W Z,T6#E"H,3_7$+*"G_3[?AG\V_
M^JZ]<K/?EY67OO+_>T,2QSI1MJ0C#3U0IX;?R7B;#]>*5);PT168>2(J[R&,
M5B';L"&O%!K?*1YZ=;^Y/Y"2KMF["NQ[5GB6Q*W/5%E>/R8YD)D_/]%4D7)J
MU[\]9-5V%9!';E@C5:O1]$S4E789E00U@Y_<^E%1&KOLZ$+#O9AD*R]7ZIH:
MOX]3++O46D;B 8^)K^5DAG35GIC-/$<&-L#?*^9627B)Q?GPSS6RQ,X.A^4P
M:1YI/1O/SIW#C9M=(L4/:^6,.'LH4B\\G4Y*+IADQJPFQUG#!M5&6ZI]AN/>
M;1MKCLXO66LS)]%/4<N_Q_R2-EZ()R6I,>8,Y9$7U64J_XW3E\RR_>O*B\SR
M:CN\K22*_"*[0H\+#;QGR70)$1PS9;FB<1JO8BUG^N%8?"DZ\@9#<)1192TE
M]T[9!+6D#@^*"?=L#@20S3INA&\,YR^9?OU("1J=;4[BS<R0&>+G%\*0<>WG
M4M4L@0"H!PL0@+XC MC J+86^@ Z9-Y*/UEG@_M:H$I]1_JC0,27VR*SH0E$
MZ6Z+ +J=W/6'U&J250*I5E66.$DJ%S.5R!RB'YM4+J^BF?D*/F%B7._2IZB:
MN"/;/.G<R_.01)DYISG<S.RY#0K6K&SO^QZ!@A,]NR>?;32VGX[M',^X.9#V
M>]B79W&@!: 'D[RGI^CV95-6OZ,^NC("KE&!3U7O,PR=MG.^]2[G-'CA4(<J
M,,@H0J\_PK-!88.M7CF6&5XK'.^&Q5EDS$\GV]X%&"!#'50AI,11WFTGYRX(
M(&NEA/2GB7S?&]]F]_^CI23?0#)W\TC_*09'1]-;JCX>:8.QLIWC8QNBOC+S
MQ-.'RG&*IQ&@*W7*(.Z6)]TDN1-V\UMK*X$6_:;4V^]AEPXZ^704'J $57K>
MU3["HX<6@A$M)5M&<(N)?MGI1X_ZXQ,B\#POUU^>E(9,#TX/:-NP++_4KF,/
MO[9R 5%5?N*TYLETO^->D:8KLKN:6?Q;^O3/_3NY.(,TH+"W,]M_U1 :8151
M=]60)VTU3QY(4I(A7ZE;WG]3T/C@>'U;]U@C.G^\K%"/)*4@S\OB,HM>?!)4
M^]PDS5K[^4I [9.8, #I6I<\<^1DK'UGB)&7UV_NC!5BVFG#+UKCGP7UTOA\
M(C,RHWHI%3>X83:XNNPKY'+<,U(4?T<^SXX-2OM7PX"I*&DDN;3[ !E5B6HG
M3;N;<,"O7(MN;8![".M2CHM7L:27I*)33 _*,T,8G_S0$(,0?%BH8-Z5![+?
M9I .%^_?1 YX587@R92V"Y0,7-*__PDG7;7:Z^K!WN##Z:D]*O=X4Q*.>!54
M?(>4R61W79W8]D9PD/#]Y7U<UK3/,O$ZMB5VE5X/U]2FRYH"0Z3[GW'ZR1JG
MU1_/])K65Z2162?4),E,T=1+:EB\#<-$>8GF/WB=)L+ZM7^G*!V$Y9CR('5^
M*IF<1N4N4?PID=D=]^%=#GD:DNR./6;O<I1>M!3O:I2[76]&)]_SM5+45/C9
MR'VHO$H:'.$?(RDE]E]G[WG\WM5IU*)O4RH96Q'2*E.V>OE;$BB(2L[UA?WA
MQR5MS"SV<!11_]GQ2.BC9DG*\'V8'&9P=4,IZ]V^&MTY"EGY-R1#"22Z;^Z=
MF'5K73IHEL'H"_K+M-V#Y,9WF4_J=^!='C1?N&O/'-;=+LIXM&6\XT0-W]/>
M6_,5'E%37NKSYC@,)U4DE^J>0>VGV6FSX%C.'670F!D%J>J-;_E$+D_$TI7>
MW!*D^S@70+F-IB)E;'9&]@5U0Z: <C%;?G&A"@%8R?"T[;+M1N[:T=YF [>M
MKE/HBRJR@9S"UI/&AF%L;IBO<R%W@WD87,CE2P)2*,UJ> ]F.IL<;@3,[IFM
M5-B^%$.]Y^L<I[*NZC=AQZJUEUB1TF7)['^D3OT] !*ML"$/>YG90COWE*_?
MF,LE<<AD>TAA#E<?/EN- -(TD3:6+1T!!&?]-#  @S\C7#J.PCV01OUK*QA.
M_7TN<K=?\7P5C #\D/8<&@*J8P&MQR$ ./8Z ECZ/MGXB\0_%(G*50A1,E$%
M4<+Z>8(*>9,QF1_E::15?K?*U)V'#'O=3Z'I<E5ALNYG&AL*J'*FG&%73S3P
M@]E<<,VVA(0PFFI&YE#B7<I3JBY]/BT3GXK6N#1330<VL,#;W.UH-!_,SYI0
ME[ICPC#USTLS@,)K82CO46NLW4<LV^?@&!IQC\?B$I8,+?E(;2-SNTPMB3*-
M(X5;7JW$*,A>QCG])$BQKJ.;61]M<=C?4XD$5]L/IQA^TM#W^>P?B$?^2/'[
ME/DO$O_K2*2.:TI,&'>_,W3?$93A/N^,_$"_J7:B9ZY4'M@GS&?J('RSM"=0
MEZ3S)H :DU77XC+V@[U>4$65A9B0!C1QGVK6'DG-F(3;F+Q!/5$'E?Z+8;&$
ME-%DU"VDDO%ACMF>.=A6!SS$A Q"[@XA@ _*5PV6"$"X# $<&( 0P"UD9/WF
M[Z(@PZ73U3S8(3)6:O=&HDE:,&$H=?+3T-!@'N;\*:9[^*?I[3_?YPO<VL-F
M,J]OBC-\C:$]^_5&/P3S=8GS]7%R':\&Z;T,A9(9VE.27%UM^241#!Z(9,R'
M-0,.0RG3]^1<@^(K$)U"&SJ!'9.M![/&]7-<^I$?$(!M;57@&K;IHU"/45I(
MSSMR<$?>9QB78<8[W@V3>KLVX92*TU/" O1FC7):WN%B9:J.3!P4%67&Y&[2
M![?RJM**D1Y^[QCR%_!?49A^'Q182_T<-'P+ ;XA_9&2&?X22ORNX/SX/</Z
MY]O_'4^8%6.JM_760QW[NC]NMR]MJ9SZI(O7E8X>3:=K%VU [9 ;(ZS@>(AR
M[)1@3G3H ^E:$5%64?^#9$NTEYG585&ZF-"6%J=SG$D#/8I=$FM+4#LX,6!5
M0U"/K0L!1&LP$0]-K35'/-R_'\8VC?.,UZ&/(I''*H0)8X97EBHSY"'.?URS
ME?LPQ7>6'O#/XSL9AC!\P3T$T.J4Q(>J$K)H!V>'2O53DQ6%3I"7? 4-U(8,
M(H" O&(K;W>G]J2 D;18N:BL[0 :!$!1M!(MW'O<R#0@C !"27LNFGSX)*4V
M/JD'4R8C $;0XE/W/+7U#Q1\C8POCGG?^:6/X<-<(]3'@[@V(L5:QJMW>9SR
M%Z:G\;77U.!F#44((*3U9GFO8'Z] XP7PK4.Z0;I#%5 .1:MS>;<V=@6BDC6
MW]/# <RCTOC.]C2R48Y3EMM]Q,ZNKX3PH7=,AO>HSB+$6SE8C@@/%@)YY.4;
M\1,L$$"/A K8UEMI' $L=W:>>CZ5SD[ X<-_7P?OUW]32/@H'\ #4'-8[O5G
M8HL6'P4+WX=<@Z\)U)218)MJX*CT"7G:$[SP@%D/;V3F-(4SH1,HRQC^F:D[
M=[;<N+0W^=QX:W>=A-F%H]]G/="X(:.\)]/EL= 9;-!%HP@9H^#PVI7:F^:O
MD>-?])WY4.]&U/[H-0W#R J'HX+ +*ZGY&JGCM:0??SA;#5'53 5T/<054B3
M%B?-GQ;GC'!E^@TI7ZBP:985&/\XN5_$<TA=8YSG5NZ "8V_O[!J5>9K\C?Y
M6$=\ E]-/F.*+_GH=B79?:#$DZJKY9TFA^><BEOCZ)M,8J\(Q4=_,63O\\T7
MZ7<EA%DO>3COO]91B'1;6H!*<2>'\WJ]IA^HM(LS$2MJ=3;\7'<MDG*K$,YR
M4-F>9\V'*CO>?-G'<FS=H$S#+M/D7VQJD*!\&#OY95+58^E2".N=;CA(A^.I
M;LX'U?;LIY_R7%](:0VG\0'7U,=?'&Q) "BA2[B.9T\.Y@-,WUE+J[9,[F=5
MU8ZO:YE,D05&YUWCT9IY;N4*JZ>W=>1*V)R.+WD'DPGM%"PM$*TPS]_<][!T
M<L*1Y68C8VPV^1!<G,U/M=LK<&^2W'(1&>X?#*:72&8KXKB*/DS6#I4,0)5'
M#TN.ZL[/#E_4ZELM*U >(IS08H8_@.;8E;6;>MGD6.H\KZWH][*DJQH2+@V;
M,8Y6/RW,. ]N9WGY^3.FBR2AROIO?EMVG-JL<15ADF[,QH<:UWSO_SCDEW/[
M4$S+D6#+>5YOK#>(OS#=Y(H8FHQHN4AJN0I"&BP1.Z3!,D0:K+MBI-P:;J?D
M>;"3;P;K%=)@Z5%^<4T_FD  " #C#@* ."-[F3G8<!H\I(N\2JR( +J&?Q')
MDOF4GY,2H$Y"FP(PI2-?_8IJ.3M!^-ZYTQF-WB/'_6,R!' QKK+=^7J)3$Z@
MA =[VYHDUKM\0#B&R]^/WXR*\FC FM2M*CZT(27/.G_KDM3-\TUC;J3]/%&#
MG_4;!XI#=]6%,G+0#?_.5F+2QR,&^K,M\UF<2[):*8 'E>?Q%OA)E>6B#V<W
M)>-GO4>)?;?F/_FF/\5 Y>'[\;GY5/HZR$#-<0J[3[S@&.&$J3^)*OTCNM%S
MBV'MA9]D_5%9G_\^%>#_ !$C';PJ _#7;C"<%>D@E+Y8;18R3:^UEK>+:+6M
M8D0  DP4ZUUI&-5#R4L"R91'_4H-L0A W%AA(&1CCZ&,O0&:\-6=:U7/6A-T
M\G'MJSG\(DI=$:H57V=PB'$P^=K.:?1*T"']<C6I*$8OX%.D3F9SPJ5UM]O"
M(=Z!V3L,3Y\BM09BV-S#F,VVVWMWG(>LL]F*MARC0(<TP[V=;T^FF;H,9""/
MP+T22V0/CZN2+,'*U2]J\&'4DTFQ-K'ZDR>V/3%9)^99<6[8K3W53Q>FIL+F
MYL21PN56HL-=HIV6R[!US <G=[#('SL%@:![UH//6V]ZO$ID7L#MM2Z* $-F
MP8R;Q_L!KKQO.;D9I&&'KY!*\:&P]'JW3TJ_9!!$"1=>:VP^\QOY[<5SX,HR
M'((W%W0AFNB6-N]%C8H O.-+&+SO9DDEFX3(MLRKX,.%0M+PL3==%R [">Q(
METEH*N%<A 6SH-]:5&CR7:WFR+&UBRL)I55TL%WNM?6CXGX)"->'X?U([9'J
MWLAY&=<JMA7BR$^:8+:@Y_1A/0+-T?CJ7N>]H)>>60Y?^^\$C>8D?52_+([0
M/4^!5X^5?"9MZ =WY+:.-4#8PGB8OKXXMI!1WN$CHLRQTO*F/@B(P(GGG&>'
M,[W^ @]]>:',FEBZ&7,W9<[*?IVVRT>PG%*L\YRTRK1@PTU^=58Q?ZH_A3!9
M*07GR@T9!JBN)S@X9KEV=D[S)D3N[#(.?HE<"D'7@$&2AHO'AHNSQ2"S^I5I
M$JQ9 I@(@#('WODM%*E#AB+LR% D-)]A.+.JK7P7M%Z"#(UPZ)&AT<9/*,CX
M@$GH$F\4[KF C*XZD)TO<D=(\7P;&5WY8R&1&H%_4!+;XFJ, 23OB4D$0*D
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M?X!$8:->S<EII+D;:XTG;1I:M%\/!HHIVO*9CT!)HZ12""&@KNP+O+_FRX4
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M%HH;;5:-=U;683D-GJOPIOR @T.T_VTR9+C9^*V=1PW-T<'+EP,\Z^GBS)L
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MG%DN6]?#7RC?CU*-M[R.>BQ]IM)4UT+BCY3C&6^<A.BV>"P:-'(O!DC+2GQ
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M73*F.,A24;5.#$G+5+@A:T"IM>.ID !D/RJ31[::(GZJCZ$S>;QV/\%@LU@
MADA87H4M+/-&O7R6&5:IA&0M6J93FP@,GH5!U@G(:HC!MRG$:@%-[0KC,=$(
M6QX4.(1B-0-E\^)(- _?;&-&K H'!/ MZF630B8YUN$GV%5Z)H%LDMHL?AN#
MAX,$85*$;\+0A1Z2+"+E\&"A7LVA*('L9)E;SG+*,'BT/N9&:@0.I<T99G"R
ML_C&",GM\<%23HQB$7-B 3Q!Z;7Y,7I94&Q'$>5\6<0NYO)57(XE2G!;/$RS
M-\+5\)%&,XD"RF(ZY.)!>&?02@M$2,!NX"J/KQ.#*(H(@Q"L55-\%!+)I.!
M HS33PE8K&&^T4;V\S $-,<#!^5D9UC/5+L5)IO9%?/P;#R4$$:'V4$66 6!
M+19%0; &5GFAB(A)XP3",1D)2Y ;O72\)1#CLW0&M-,F#(OE2*W1J8:LYE#4
MJ_8KG285F:B-J)TAK(B&DVHU+B";4J-D47E,4D3'U>J('B/D09/"/!2:1B6:
M-,8(E\GQB8TF3U1)XF$9:A<2=H7"<)C*9;@"7!6:PL%C;>B@@T-2&@0 D9 6
M-I./Y9,@(3 4QXR7$[A(M<L)*UQA#LKFUN@%>A/60T)9O2@!"L^.(?E,@-\
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M4$H56CDQT(G+*7P8,D(Q,TVDPNK!W,$H'B8%5"0!@X3Q2+UZK$ ?D\A1FJC
M831I&18VR^.5.75H#&B<%?BH$L,+_?4#Y/I?_^:%Q1 /Z41J]6P5WV7"H0AD
M&0N'UD$AADVGBS)] 29LDL4"'#S;Q4>I;3XBT6VV\=PT'S,0I)-BJG!V%M!<
MZ%!9!4Z_S^% !WTL)]*KI\DP2J92$Y1R&7B;2:?A1ATT,Y.@51B58@[/;N22
M7'*LVFU7D75H$R;$X:O$2DY0 OQ-)8!5>*L39%&/GT^(P%$GWB3!P0:EQJ(
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MDB3V?R<&_R.<J!8E?^G1_)():IP]9-MSY,_K[8@Y5Y\+=13M Y(6G*UJ_NZ
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MTW0PI$/J4&IK*ZMI^;2]O<OODRHGL-7'37@M<KJMZXKH$&J_;I^NZSSEY_=
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M0;B#&4?/O$Y" CW+)A'X/I=&+%4=KWKX]O;,/F=#X'^RTU#Q6AK13*IJG=@
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M($@S^NG/)*X&2T_@V<13,J2<GEF[Q:$B_\5(][V*HCXEAWL1KGKY7,I+53;
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MJ[78G96.J7@HNG)&*CHUE^]E8D"&XTBBH%4S\M9YMH_--+]SO!';.GYHW^M
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M5(6/VR8Q/K&WV6.DYJ>59I^+RZFD*-5'!YF8'("N 2NP]:LLZUG"$!8A&Z7
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M(7(,5[SM&"$! I5 6^B"T.L0Q3$YL^*&5:_%UTM%L!=P$M?MV[@-"@>G&9K
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MAJ@"Y*"]A(N'SR_A7I(*EG#7S$OMFAJ8#2B+@7X;9$TER[G1&#0RO1]/%_*
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M.AWY7SKD)LZNE2KZ?L3&_$K*KHOID=J[[Q86I@<:'E3'X#$B#Z241+)&-(P
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MTD6(\=9;^B3I*A+'H*I<;"\G*]7?*B242FX^]=ZW^%S^19F\FI6[O3&G^3$
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M_ET3S_XX./^A5YR[TF(.3<&6#=O_<<S!OED866!PBRL 5+YC<F\))TX&_\P
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M$5@8'<:/,@X2Z[CN-<T[GHT)72 JTX:7B:!Z&0/G5Z5>OSU[E]EEH,,H7,0
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ME>_R%F;45Z[566_:Z;JARZ-.ZN4ZFPW?!M0M]NN\43^O]!,8CAX*,J>(LGC
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M6_.<YA\6@8XXQMY&D^7P+(*$ZN0PJ[$,&(JO8@63\K]86+[]WU!+ P04
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MH^Z)"1TM\^^Y?K&[7WZ#/S:;HZN_^&3FWC9+<H^GOPJO_XD)(6R,OAIW7Z@
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MB7S2Y[YZYL1#KWXA<JFTPH0YCIDU7;2^Q'X,>:&K8+@!'26;]N,]\EOB_H'
M5EL37JT\R<\,)OL "M_K?LX>(!,07"XAX^( '2@/7K6*,;CK^!]R::.!9(]J
MK.>S#9=R&WY8O?NESEEA9 )<@P=)U"S%HS\T32D.@@-EW$0/PP4>@K6REM5#
MIZ^NIF7C]H744D$6N(7#G=@N#S!?]N)1EF9JJ(>]C14TT-W_9AAV'$O<1^TD
MTD4HZ]J/%:<?LE]48+X8^5E-1NWI?_W]RW_RKJ\WYY9\3DQ^@BQ^^'>]S&8
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M+9)EXLM*]S=;&N; 0<]G^\\7/[0?L8Y\00/6MEP;TG&BJ@F@P7>/?T:[,WT
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M,7OY-#3F6W2I1X1&DEN]3>L^@L7VCJN+NG@'[!4KJK6B=2<;O24,=O<NA5Z
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MT2X0$*]U!2 ;0?&V@LCP#%@]A#^D(T &E92^1J6GUX1"3UFANS/=*=7M+-M
MH@.X*MG)U]\I&A30X#N\E.U,#;8F"PXF.)_[8*V*LY1S'<6 1N@3C <*U K'
M2H-;98 A[I=2ZN.GQ6*'ABTH_.MXH[],"7^]#H6S?K%ZEDQ^Y6LEL:0@^40.
MN@)<AV _-S-=?FFD\4""&*&@M;!.T;O0LD:%5=A=K&^'K9E#_K9D/Z,-UW>E
M+*6[8J&?HPXX_IP#"JX ^N#JSYS <-ZS*T!B\ Z_8E]38\LJ_-N)WO;,/AKG
MYO<*?07 TVZM:A07@&WV_=$^3G?FL%DV[A"55(+@LU<]CG<M/KQZ3ZOP>)^W
M6<-.,WJE0J\=&'D%^$.^E^^-)D=:):,<CU;:DU<L8\ 42W8CA:%UVL.&-TS2
MJ,>.+=+/]]^S7?X22(@NF9\P:7YUJ2Z;*PK:U3F^$7'YLQR%@0/Q]V6Y4^?F
M+F-Q?'".]F9]$"IV2];Y^5:&# JRUH(5 .^3PG *N\ODJ(,T=,-+[+[3W2$A
M.EOV&^RLOI0I!ISZKT.H'CM?N_>4S+VO,!,N4&5.;23R[F %3S-9\.'\X_H%
MD'D,7'0%J"G%TW5H8F'$=':,NZ?3M%],@FA!UCB(@W7G1=UX3DW9S(2V;M*Y
M0[XEI3=&5]]++&&CAWTBR)D?UO8H@'\>;W09Y2>*@B$"<HGCZ2;^8]0NDYZ/
M<J0?5VIH"II%TCI.>8&9NCM4B.=)PL:)P%/MM7LR\N.I3;G6VXN,5,>N?2<M
M>-*CI(C+AT0<B@9,F#[%ZJ%:,#$HG^8T)PCJ#+'RI=$L;V%Q.VE"U;+(*.=U
M>44YXX/7-''A&BW"?M?0D+7N*O3 FD;5VB&M.E5WW1IE4D-3$JO-/M*;E?GA
MT];W]Y\"* [:-AD$==.EZ+\Y%)\U=TOP==-J:\*$8UR)2EM_BP(4'M R.J:,
M%IVY8!EN0>78:JZ!_HR$ (_>^!$A]F$!=LE8-:XGA<HFJ,:&70'V6)VN %G3
M]:_QDC7=EP88<0*9"ZC2"Y]V%@/; [=< <:]!<^OE^[N8H@UG!" 'KF,)(+L
M0I,;QE&%661%:TZQ2SJ,$OGQY?4#J!G8"-9&ZW<-L1(!1FG1W/XK+S2V=WI(
MO<.B49X\S>0<;EX;95O#>^\9#2#H)L<G!3(2>=42',;J,J=1"\?C]Z$,W1.\
M61%L.O&SMCKPH+@3'9+!%/0F<S4]7O+)<NT3"IW"L$09'ZE<8B]*TXJ/2O ?
M&>^[ GR$A8%NPE935JI$.V-#93#I2)K0ECOBT73(#K&ESM)"J"=4E(?)4V?K
M6]SMT:-'^N;2K5;'WYMY#:\ ;>*@U8P6$C\#8FY:/N$MUV@B_X!7L&&=RP_&
M8@HVY%R%('D]2>RF4]P&"NO=G:[J?E*H+4P&NJ9])(0@B=*(+%:G"2$\,%)V
M*-Z.(4LZDS<N?*A"?]E'GT<:19<;V$M4[0E$8PM:6$'F-.3&4.LV>:$8$-6B
M['"]:;89=2;$X<EIT@.!!%:O!RK:WA^\2]-CU"*U;/O4C.:J2XH='&;W+KH$
MM_.2Y!NPB2A@6S,S$5=E 7W-#\?QG#E8>7 D(PMON-Q+Q,WB,H><I0%.P?V0
M4,YH#)K]Z>,Z#JLF(P+%AGDVU@GS&%OWR^]Y&J(T E0M9W,AU3[GQYUYF8'K
M*)\'#];HUM2HL?R*>Q [X,YU8+/>QA$*'MAM68"M>=;A=+9AS!*E=.JE?L_'
M#C-;@BX(W/'<T):I_&\_'W:W++ZE)U$A3=!K-,%YXY^C#SN 7Y9IIWG&2T_
MX<O\,&8[YX&/#<55>M_ZN# ]G'W"9RKW=:)T8;.UR;HT<$05 ;=]:0<T#!,J
MJO'Q[UG,N'%9[V<"Q-^9,$378$"!1IV&HC&<**JJ-M1&#0L88U+7095361<7
MFY+>";?;E*/"/<*R(EOPM! $6P8/-F2U)<3M)=+$4*%P5U+SP:2&!9A#_#68
M [ B=8^]MC1<"&8'9[)M*:\Z:ZNUJK@"? 9JHUFPO_6;!^5'9[+(/M'RO@WA
MU$R^-_(P&RVZK[AVR! P9,J*U?1^E@95;J\O[JXPHUL0&!;A[4UP3S<(, ]<
MD*C!//,(T.M?+,UW.CZRN/P(@E3%CI4N<()1(WN9Q(;N?OE-5!B)VC\+-<?"
M$)<@[10A<T:9Q*JAKLN<FC=1C9N\="0=G'8_UO5*H6Z$6^JH4,IBT540)I1(
M&2E?MLL_BET+S5JX=MPHS9/G,#_8[_VT+(:)'R_2OP3D/0)B$BY_$R.ON]O,
M/-EHYF+IXH$ 4<]#K34A:EH -5FKN"QRH'?-ZW/SZ:HTS!8VDW>?N<!//[F+
MZ2YT5[<RM1VI$Z<5^5*XH)*_YN#3GZ^%?]]KOA64MH FWYS/354'M6@.I2HS
MD*W4^R\0&^H*MNPG'DK$7TS %+M\&3%\D)=C"VVI!P69*W87QF[;%UR/1@#5
M]?%4M0ML-C$[-U1NR\Y\PVM>%OAQ>A!#(88%%_OI3S6SXVV(H8 BC0;@Y%@_
M_=G!\O,&OP'_G\,?4K+CO@8WZ3A2[YQG8^0OJQHA.!KHEBZ:*7!!&>=8EZN:
M;=I3L+UV=*LXQ]WK)>L=ZC<?W&;CENM%B<U&VRD<3D>0@^JM:=>$^,FNC9!E
M*^>,9-OH3H]VJGXT6.,;ZUV1O5V>D5U;#"L7_#U4&M(]TURP,*'9.+)[9UUU
M>1LC#R?Z]AN:T+G,!OY\!6"1$_5 @;LS2,&TQB90<^)35+OMC.L 63B7+LNW
MVX\&Z#J?O[F]IK[J5P7",])@*M!,X2V6P$ 9N53P9_O] 'XH^T 7RUZU(3WC
M<=5JFK--.KTXY.C3>XV;I7$P"!#+!^P\7'C=H5B&KB[.[\OZ*\I5S6*5DO<R
M?TY!'+YK=830JE>62[*/JT4"9D31A9A4M-[^=40LR5_"P]1A""BL_B$4IG0D
MW/DFZ8O7M0= _R-O\WU#A&OJ&,8Q2R\2YO7"[N-=UXT=[VW<T&E6A. .]9VL
M"#[2"\ 5(%@?M-XJ1Z0\YE4SA+BYF>V7L7!L/; #3_ X+[T"W/@#Z_L$S2;T
M0$HO.2M*QWN8Y4^QTRX$G,[DQ1X0Q?G7SVT-1&Z 34-BJV9$1.S?GUI\6JC*
M/^0)V7#(S;W=Z]PS(&3$=6TR&&RFE&'H</Y)*^H:01$J&M8,W"8P7>:?_CHH
M.A"17W)S*C  ?<\T/Z;S[VK[H'(LQ8>HHW@\Y'OB%XR_A"0PZ*0ECSXZ.7?:
M\</A7MEAQ+"[^[3;%29V[, :5=Y$).N'(*7WMA27V_2%*M*X7 4Y";\AKSRP
M\6X-X[BRQ/1/;O?$=TQQ.4NA9\+PSHQTR!YP7K3USLY>?4\*!%+SIKDL??91
M/-)/:$SD^7E0_9;MR/)3]F:U$E,#/$]Y,\1 0E7BYO#Y@5>CFPK!I@:G ! Q
MOVY<^KV3*>!=$$N3$)5%MLV!,Y*_&=*+]O=5J$=-YV&\XLZEM#Z9<IYE]P[?
M\[2GC9O]\5[&[:Y@?%?DX_4,[\N Q.)<K,!6)]/7MKPA<W^Y3H$>3""E(^&
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M5 ;U%'===:Q5A1^3%M_:(RX#$DVRL75&T@W>P-&QRX;8*P <'G0%X+B(IMG
MCT2!$/TK@"O WU4Y R(Q<KD"("=A'8G_G'@=:X,V7 %N=EP!>@H/G)C]>%#/
MMGI&V*%&;U!1/@[PSXU2!8OM.EKUB26.G($6H4I4#SC-[X8P4V4HE, PK[%&
M"# #E+=[/C]2?$ED39U:C:':7P-S,+Y,*_BZN&&O!R0)8-86(W\S=ED70[0I
M]@"\#M3*Q+>DH$?^/ZGR/\5)!XP0R+$)>1 FIE3V, ^N9A%_@<&!PA4%EOES
M*GZUCW6V7-<H.5)<7Z1WLI$B"!2HDK UT7F=-V/"TYO''5X9G#'#7+7";!6&
M5<-3U'IDCS7?L(U=UD3]MQTZN40[CDO_L0/X/^P 73P%,L(0+/_8L8T.QL!0
MS^"1C13SU&&W94S.HC3#JC3+5TS4G1Z&9Y/P2)&]+O\FFL#^UCQTR+LY&$4"
M9"/,)B_?*JNIK1@SGRE!/%!['-1_R[B:N1PVE3<ZJ-K'EB'04HUN.49?#N!#
M3F5  ^=P?F+9)39?(R:D%5I!3 B2F)!?1- (XHG/LH/07@3:L'] LV0J=!E[
MXGGY&\^9716]%8H71%(^\66(5&]>FU?),A?._[Y1WC7Z81W-U_-&E^D3G@D!
MC #>QP.S:SI,U-HOU#?SW2RA"3MZVL*H&+F]Q5G!A\"FLD_G8?W7-3&;LH0
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MVK5CIS<=BZWBES>7.LM>AUUG]B9'<;POI?Q[%YIO$M3-++P_O_K5JO:K,KW
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M.#*Q(:;O#0_X4QZ:1K7U**UZ$J4644U_(:QS!V;/8F,);",X.=B8*_J,0%=
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MVSC:=C>RX<;J"8>)2E9EJ^&&6ZBH2G#*-,C%#JG;.R-*'8$';*FP-GRT9R4
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MZTMB<GL\/P06]P)I=$K=TFBU?QJDW +]J%?'\;>%%[?;GABLS.S).Z\05=3
MFRIPAO[GL1*&>DD[S5RG]\<=]K?YF!\&;C2H$>5AUR(Z![3J@CXH(0 ^?%+"
MY![ <EPZE^:EAY6[Z=]O0+__WBQ#@NRKKFU;'O2D3@M[,$PCM%@]O/-B\2\X
M.=FU'OG[X<##Q/6*7;1/@;V^D#I>B=29_9<]UX^9EY'&@,0C$1W6ZL3X'F!5
M#59W9:;;CB@Y44BL[>(RWS^.&-,"TKKIYBS]R "JJ6Y4V+<EDL:WS'-'/DP_
M-990E(-=8W63:]4GW':"^+J+):(F<:6.PC\YSU% NPV\:X4U",=3PU9.3LN
MZ'$@%5'G!*$]\51[[=AFM/RKZOTC7M^T9,1U6NT]N*&.0YB72FZ$ PYT5 D5
M]@R0FJ$=*!&<KWFJ=2'O2S;T#-!5]308S(T?:Z?Z ^L_61HN%Q^!NX_B029O
M8?&+%#A0,0+LO&) :CFGE9VH7H;\)A(@1W*9G-L7X^JN,;U&Q&Z1H:X]XN/6
MZ+> (<\2Z^#<D3N?4?NZ9UM9 "IM!/WX5N _"JT1K6OE,=(5JV I(X'^MR_(
M$W?5AJ&YEQ#<6[1*11'D507.'17TCF+B()[=]B;;/]UW@?5BM[<:+R87J4%+
M>00 =0@'E'-L=Q^^)_NLK;;!W$L:[%X1WI6Z8+7V2*%2#E'H^_!AH<X3V?;G
M:3N"TM;<P:\1#][WW0CX>U@83!V)%T0/Y^0!XY6 U,A\*DQ]T^L^/L3/?PXV
M7/MQ0B]"B!AV$(@CUMF.5:C_FS4R+55G-MNZ?Z^DD@O/8H!:O**V)0K1SJF_
MF2%UB6KS/OH ']5.%-!+^T19&Y.?JO8S@2@!PU(@9$;8"+2G-GQ\I2')Y<0Q
MY9^9C\C*15[#LT+?YS-?!@Z0;>YH_7Q,,JHJ_+B"NKO&)5 Z-=.'9^XJS>J[
MV22W=\'Y6O%]-!T_$Y-A_-0.$&U$K-Z6&;/1:<,QHX'A?5=NK5'.G4 ?GT??
M\[[M:;[?I+W7;5(^=JT*"+"+>E;$+M;2(,*S0GK3W=UW:&Y.6=,,/N@R[$F=
MG:KR8H%#16L>L:XY5F-JG[K>5Y4'U9G^BNF!S:K0-"0L7_\U6OI083CCFY+W
M>4=O9GZ#B(YB Q4$\:2O 6N&(9]#N2_^8XKH;I^5S8AVBQ^N-#]?<-/LOQDR
M%M?HT ?BF/*8.95JM*.%^.A,2J.<@Y8-[BYN>E7];AG^X#;'L:'8MV2W-O<.
M?\94"7R&53RE#JN%("[5O;N798AKU^QC5I_WT /9D*#CN89%Y=*M7UI?[;!!
MRTYY&-*ND ?!H*YV) =U0PV\VF2Z_+%^_3\!(2\N-764SPT1;JVHN=Q8#LKQ
M$W P]2691J;UY$AI4(!SQ6^>R9_J(9NUUKGS83T1"*. ]9KC@]_K0S83+=+.
M#BM@.^Q3J,G7WHK?+C,LKQ.U'GI4]HE[,:?!]O\ !G]4STD/8X%+-R((@.XY
M.SI(;6]J"#71Q =AJ5J>V(:D^0&::X\&.,@?%X?].?I])K5-%OS&%R-DB(T+
M7HXA "AP<E/2E$\6F$223G?T&R/-W@-JXR92=<2^)!5<TQ*R4.A[A]'M8?&,
MK3CX@M[KAJROWVE]XBI=1O*@163DG?B;"*",>'@'_4\<S56Z:(C,;VS2\JAQ
M0T.4AF9T_^<8&'A^-TE[*5;<Z ZW_EP"EZ!,%@:,BMH]1\'8< ^FE Q*((?N
M#'JD]MM^7(^2EI#I/)!EDIZ8EOI?$*#(LGBOL@*);$][!.BNB@ V2?FY435Z
MUY\&J>;T=='JN_$L!9C%R^/VR!3S1B4XAP"(M,=$X2Y<" "LR@3QQXD7.^BB
M&X=OB<\N^4(,/'CFF#[@T58^T1,N#?Y]_%X<THT/EH+A@*X$ "ZPD5Q@4UC_
M_]6#_+^D%8DFG$298*-%"01 ^!Z(2&L,B7#VKE"?'X\1 .C@XK\GCY?X\U4G
M#XC1]'/+2P) )0.$IZXC6E#6PDDRQH(V)K2(KGJ:^_?0=.C7.-+G[?^]%T#T
M3ULQ B!7#T@ D"%A! !'Y;5H*<K_4SOS3U]BXF$K,W\K/8DB/DD G,SD_@K9
M6-$,!SFV<-VQ@ECIQ=7OQT_SO+C%>3>4C:87;&H7!EO5'X?M# *O *:%/BQL
M9GL<OZ]RH6\( /LKHI%D';M^'IB=75T4+O,@OOV_W%5;OX3E&PW91!^Y2DW]
MO7SEQZG4#PY117+^KPD.NM]]Q+Y&\Q-+J)'$7P2"6&S"D=K\7Z.5XT0Z][B)
M%)*C+^W%:2RQI/VE=L@845]I396>4KMT1?.7$K]UY]_?(E?;8[X"P#K+@8=$
ME.E@O_=\"8 "/]\+:WV.=BG8TC3UN1CU?RFVF0(?4BP^?:6Q'NQQ#RM^S*Y!
M9Y;UEL(AJBH=Y&X0679%!.OV-429G;6-.MM]![+=:0U69GN?[L@.C3XFAH'-
MD!PNZ;0RUU\[?@L:7;5:K6PO!W&#G6G%MJIR2FS>8N#7RG;.TI*"Q^>HP1"?
MJGI%BMRC"[,)V[OIT.>7"IN!?3G3IX&I4?Q:027^7^M><.E_$U]_\CW4K/+1
M1Q).AYX0">P]_-T$X';JQUE;R]_(D0?/Q:F^?*(,70F[)<].=6OI;>7,:2"V
M-G\KA+4%/=(RY$F)NHET;8"W775&I8<QDS?<_T4 T,QGE]E.\QZ%?0IT@WSB
MSI.]Z16(B#R^3)N"WV%H@8\MW7_(L;.>NC70Q\I^^PZ7HQ=YHIUDR'P.Y]57
M)644B'S@4G&S[=XTW-571@\"%G6K8J^?//S'?MU\Y??&,*W$NDE/$#FNYVKO
M4A7*@BF.@?J#6?X$EZFWOY0281^NR.HU5E$=L!G]X6P=!?#YJ,1H7!\_9)C!
MY'3Y^$V329K3J"1[Q_'Q*+</XLEX;(JVR\ G&WE;36 O]3T;"%^GY6EU\59,
MQ8*KS/,%M>+9G\9V.FRONYARU'(_5TZ)D&QE<>1RNMBA+0]N8+OV%Q8U_EXX
M4S3]<#=9G5=[.<9BRAG,DZG[800&(YM;EJ 5D]&=E0B9Z%/#MPI1S: 2(G?W
M=E]&=5^PB6W59I9QZ]Z:<N?A2^=B]:H,3+4-WG'5]+-.DHS-\UM-R/A[(U&9
MBR2D?D;#C@S[WMH:<F"$%LU28UBV$M/5YYVM;B 2&5.F1C)N>[@*(ZQ3]SCW
M0P.0S#&YZR(RJ@AG?TV(\M'VEF/TG8;&)*9RU3CV'!2N_A7MK947MZC,W:N^
M1'5748>SPEYL$@ \<XM5%Q065E%,22\1%WVCPEF)G:-/JH&=GI2;IADJQ< H
MG**G=$(ZPV>'[Q^<ZV*=W[S?^^FB*W:N/3"/\,F,LUL7RLCU[#E?7%[$T87L
MH$"1;7QV.W:4EEV@\,"(U'>5!0K+>CQ3)Y/3@VWFX@"'.WX%U4()0JSZ_F:Z
M*W9S8:-=[?4JX>C(4?5DX^;I.J86==[*M,=S5AUG52Y#<"Z?)@O)5,'/<@\E
M2$[V##I8J&I=2ZT67)KU5EEZRE2^)%MH/5C4;A0\C&3R8S5+W:H+)*]=H7Z7
M2WV<;670,(%C1F'7?Z',(WHRWO(^SGR3V /CI_DV.%HGZFV^FJPEK%$XN%YP
M4GU8M4L,AS?LB8'131MNVH#6A^=7YJ*LVNGOYVQ9O I;6+=RX+!XQN <\=X%
MU\/4^>J%L1_L>OM2'HMH'S7[IBTP32M3HV7Z?FOVPO+F=;@5V$9AE;;R_9)V
M1G2HA=GGK+AMDX2Z+2(%E/U:(.2,NJ(:<U]*FKY/^8]A^;/^WH+8&[9<3CSI
M6M=S ZO>H)T[SYJ#6[,1$4JR/-GI?@WOCOLYY.ZL!&@(/DI%-G5LD"H+Z>N<
M\4P6CW&(HPRP_(A(_'UPO0)O>''%2%/9CG#1%L;:35P=+%Q:G[0N=,[[;,':
M1X,N3 HYSJAI\T6(YF8IL:OWQ^J 3+A'8YXMLB7",]U!X)@*3>W*%1?/QZ;3
M/NYPY]GU:O#WB@Z:;U'>[U8H#RR+NX?)K**U#^J4.;;E4?%(DYP1 ?KEN)@'
M=X<&\VE- J_IB^LWH'D_@+G=J1(*'XWI;-RWDIO,/[=G[R8]"%"]+S]@&/^9
MSGMRWT!:!?$9LGCZK0W-,]\:,1-UW 27EU(\H!E\,).\6^KLNDIFDOZ5XU4W
M<Q\7^3UR7>TOE0<J&%D<O5U7"#L:$5T%0[%BV-(LV4S3+-UC$]\[3>^MUT;N
M6]SCHLF$K'&XM0M"JZ>-R38CL28HWXD'?R\H]E2[I"Q?WQ:"[6);&HM&)017
M2&IQZF2%UBUHO^22JR_6KH%0 N U5>UY:G_7BT[2_5'K]RO]\OT:^,W.H>=-
M2I.G+D? =S#X?%3?:/3" W2&Z_,M?TNVM&7&)*/%U[K*3X(5G%7[TSD<!1=_
MB- ]B?Y9<3CS76R# *BR0/+]4Y=+-;]@[7IAF^WPIJ3?J3EU898K*(V[VOD5
MH/JASJC/J'0^/J""*\AM(*7Y!IVAL;:A!AW 4,,5(FE4/8:S*)[?3JT*+D;^
MK#'P:+PZ#,\N]N(B8[N(C8W/TYFU!MM0((4<^ECPN54V".G(&*KX#HG!CR,'
M;,7<X5$/3;ZKRKUF;[WA,![C;I,W8*4;\1K"931QO/>* (!SI>JZ[JV%2GG3
MB=56DF+.ZD_F<.:("D<M?+6KP*# 9I<$^/E"" 6D65FR,W =_F#8O["[H+M@
MH6Z5^]N"=0% 0O=:+Y=MU ;S95&+_O3I99?EX2BKM?GBUI$C6X"WQH.<I6/.
MBV,N^D4<Y63!=(ML!<1T@35@'QYI%BW ]J#:,%<LZU6LE?H-RG[1SF\PVC9Z
MR-<5X[89T?*7Z7#*F;-KDP=6P:A51SDFBCPFFJRX5GT?:^-S!P$!7X5" 1V!
MQQ>Z2S $:T)T&^.XY6)_XY3PAC:\I&-N5=/TZ9.\]R/KQB-_5MZLQ <0 '.>
MW5M56-(]O3OJ,N'</@7[^8X[0DP+4AN*[VXAN)@ _E74:-%H:=%0QE.%FF&Z
M9+?IB%R]H3(F;K*AQ'CRHVY^>;D- -M,,)ITN2Z$&RWZ0:J=7CL7'3<[JW8M
M+;;.M*?\1_J'\_3L#F6=Q= O7D*1YA;/2_=>5D]6DQ<H9YVIP-CEMI#1$YB$
MR (T++KJ>%:I[_+AS^C]/.CD=D*H=K? ]1>)X9/3WL$'!UY@9&QE98*(3K&3
M3#3_-^Y_)S^/I9D._6\YG(D?^JRF#?\5'0TZ2KLO.Y"6\S&)LI:]/S_IJ$N5
M'"9S4F0*BW3SMR613^GT/+D>=^HOF;.Q<7R^,!:CNU?\N7QLGS4L,4E"XB9D
M1'+FPDP'&",59/">0>$?%NMDUU1OK6;64MF6[6A&GQM(R3X<:6P2]4N+H8P+
M2DMDUE"I)K*C4I%%<..]=(#TE??^H6LE;]*RJ?>1? "5 6MF4Y]@MF7*&<_<
MEW_=\?OE[P&WHXGQ5L6E@\Y<"IP>NO7/3,Y#&Z 1W'V\6TJPNI=1SOWGD@ID
ME::!B>NZLT(*':.DH+BWG];G:6$,4;1%%!( OU6." !-Y/1>U]<_VEQ.+F?L
MA6FN7 W *Q]S,P1>A"&- 'AQ.7K%"K;4M/1Y$/C[3/0W0DVAH6].,4'29<*]
ML'FNUH\ 2!OJ"X*5CP2''EA356#>0E94V\9VYS-UQW%VRQ],.I?7=:3G3N>/
MR;V4O?M:N4[!,XN=($JEX&5*E05F>+ ,T7-=K>ZP>8S<YBB@GX]?,S8;AET#
MK6JT$0#5458$P 1\_LU$\9Z0?%NJEO$WN3%#&SU/2I]E& ULYH_=A1[]VPN5
M)E_47%]C;4K%ODS-!SIJ<1(F17V5Y_$2M[C@/K:L1.6<VV-W<D*-3^ZU,IGG
M^K19MQ@3PC,AO6.C#;;\-"/CV2;3V.CZ*3",Z:,Q)G$Q_L1!;;I%#7-O^2K[
M6"(XW[:M+1Z2W6B2J,V9]=8$$.1NN>:F"VYZ761Q/TF[8+>_UZ"="P?.,8?
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M5DV0 )"D_+)7F>,Z]C59/G@07IE@AZX,IXX\OF.CLB"'BAP79RE_\WXFO@
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MO3%=N#1G7EF9'[_O<)K''6)?#A*QJ.ZCDM 7#).5&\4Z)7P 'M_'#A$ UV>
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M6W#B91I,!R.!2+ 9)85N.A[OL"#U.NI/'&YZ-62 [+4\W)\^)L1$G/A VX!
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M\P)O<ZTKD18A(K9B(?<LN@_I]OG1Q7/<\>_]KK2U(;6.S9.U[AZ"7&5)MPY
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M+EYLP1MGSVA9O#894&1DI##*QWWJZU+7A<[MLO&OZ/D"$66:MR'^)X+K8,9
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MSV3F+1:T,SJ:L@QYBCU!%X23!.=]OA.4NE@5F[=/-I2V#OH_3<R]"IB.=1,
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MGQ7.JE5I\&Y_%VN#1N?*I++:0J.#RV'T'::5*TP/6Q_;) Y-RU[M:8^A=V]
M;FNC+9P6-4(AHE*J9( YG6B$5XP=F-1Z2<?_0'-93_::2E#,> YZ&(71P_$D
MH,]781&ATCIF79]E6BJ+33J$4*[\;^DBSM:KS6D,5@>Z^(\[\A>/@E]%>SPG
MR+BB/Q%]2S0\W;/ZX9<TG7<>GA'NI0M=NW/_^DQ[&NMPEDPL'");.0(Z;^8S
M HY(R=WV&79RM<-?^K(O,2+C_;Z%!/R.7K+&ESX],=B\"I&/;/<V=8%Y9R&S
MR8!MJH/VML2/JHK?#($FGQ-Z%H)[9'KGB;I-8Z KZW.,3J\-AW7&\L?BW1L'
M[>/.L"AC>"4G58YI_3YL\8B<)D "%I5@S#J@YG)ZFHYC.7PI1XE8$/?]CT][
M7EC-<9<E>PZ#-WJ[/!H0[>FJ'8AS[Q#7YGWV]34]7QOZB%O7-F9<SM<)X5G6
M3?I1>#[*GB;*4+;L1'<#-1P-L2@'P:PK?1 /.01P9TCF5RZ\C/2S/=UZP#C@
MGB3#@MB^)AN'C=7#EJ<N(AC7H:B:N&DKQ\L"W?YUOX*#^D;8CN(5K#,7TIP7
M?A5R:W0QAM20SA/<<S=1KEWT9N:PSA>ICRK-+GWE.+%%L]\=O#[U?$?>I:YU
MTR!0B<B!DVL=U.[XKH.>&=24Z7J=EW(Q=]KN70R3TUOO]"XY22%VFLS=H358
ME<I*3"!O:<J35!\8HZFOV(C%C(NI9E1;+A4BY+OZA?4AW\%=3M)$BQ !MK Z
MHJS&FEKD//[,L+;>3'Y[J?;+&38JID+KUKU'XAD'U6<K"$<GLIOSU$T*,H?P
M&!D=DS)/XX.BQ8Q+T>!WY7EA7W9F[,SIF J [W!Y FP1R@/A'A=W5E9S+S$>
M]#UCWDF_R=W75S:%'QJ-HN^[-R2JBY'<UBB!N(Y(B%='@P9J\3D;7L_4AVQ'
MF[H,XMEZ;;Z&ZQ$V/]]Y?Z&<LVM.::()ZD_?75ULY5AI5J+&E:S_C?MYO<?D
M^+=H_3?4%!S@7D:9PC;/R4!K/;@[EO!$!G%,YP@C7!,B3%@P4Q61@8O=%-I[
M/_H9)2,LD0$.\*+\!!E8NU,,73"'84S>Z5$7$(4XYD^I972)EQ*(?V$SQHP,
M9'93/OWP%AIM]^L>!PR;Y@0]8!L'8R5T<3FDJ]&NI&". M+Y7I),LAK@"/U7
M(Y))5]-?0P=LGJN0 <R.+JZT6/CL 9ATT;W8PG$>J-:4V"F7R+5P-&"4CEIB
M%.2YBY0Y&(10(,TY2KPG0,816PJ2I/#0EHS_WDX+BJ(=P+$VVB^F<VSJM=2%
M3@QU"V;XYBH9"NAIWP&]/VOJB1LFLL2B#U+D@J7!U-,#Z[(5(LW-S]\V9L8N
M/W0U<+@(-@YQ#LW>&->S> (QL'N2F@ 2):1C&N'AT,LRT5YX!Q>AL9UEF$>%
M<_& 5N&P&NV]L]\!K]+F6\=*[#-#(?:A=GN_Y9S?V'(%!P=W&62W[*4]M\ZN
M,>6]*E*S,VB-XGH*2S#\EGJ:&TN!=S\C VVPZQI$?NS&%;$D[Z03X\_Z*P]#
M'_)G?-Q30:H$)B:H<64--*2$+VSVHIG4G75:[@K*W2F%'HW**OXB Q="NA=:
M K^:A+K5XKB@F*G2!N$Q:>GYMN-0.=4+C9>.6@;0 0B+W/&+92O5 ?'JN._R
MU[_@"!RQ7J.FJEVHN \O_(M<;MP/B8$\+E8)/AO;%ZUZ[T>,BE)K[94.6B2^
MI*OWZ?LL@]3#5\.+)M5%Q3Y9U2HW1,$_4"@D5^BKVZ*2&9W )?I.6\#]O?RK
M4D0]L3#F@[CG?:UK-^*3"6".[(?_M<_TCT?(@61,!E2@')O2L>P^T(X&^LC[
MBS,6VN8=>;,I'WS%(FS?B'#4>&/X*O@8;F<NQPJIB:BIL#]-K%;:U$71D@$-
MIZ*J9L;VAB=9OC?ZCB:.7U85/E_R=;KN@^9+6Y'19U0=H:P<'#X;F&Z\HF9+
MO%/T@S[V&QDKKW[?['6PO&<2*Q8(L=UOY09*.434TYXUW+\5[W=>47SN)68,
MJN@L!O6!*F8_) ."S5?Q7H38 H)DUT7[,I.IWZ\GC[SV9U7Z&TJIN4],@DI\
MP\.YOO:E=PK*QJ7L-]RRX[%[F2-W[9TW"KZU7V+F6/-K>L.2<TS,4T1V:JZ\
MVHG#XDRG"&J$QE!E_/TM'Y7-6!Q/5 -UV<WB>>,-'F-]^RHOGW ^)BH^VR)Y
M ??/;H]6"G\]NS (>5RD)6YQGOFI*7L(L!"[3W*?B&#4G7@OV_3&E(0>?NYZ
MF%)=EZ%[-)XB!,8*1M42:2ON]QR0 =J)<8$3HY"#&C( \THY"WO%!-W6ZBT*
MUY>3082WW,"!PESS-CA6R@+R4>\_HW3>[=)9N]W.15?DU<8#93>DG?CZDLQ=
MCKC>E9"N3$ZVMPB/'HJ(+2)BNA<%G7Q#;>IH[T]U_,2PH )_SO,B%OT=4\S#
MLZ;6O(YU:J>S8Z9VYJ32,@">.H!N=:YR0NJ'*<=KS, RW&;H=99B($O6HBN#
M#KK9;ZZ/-4;V<_R(0OO#XKLFB.FS A,C7D:OW(V\%!D_(&BJ)6-@3!2,S.A0
M/&<W2L);U!OS\_H.?^>%L1P78/T7\.%8C3;6!IY(5Z[;9IF,UWF5=W_/'O7"
MDYJH<#.+NENJ6.(T(7 'S.:3LJ&R/VL2P_V)3?W+JB-#)N#G$16Q#:(.1)DR
M=C8SJ&AWH?"QV<.^ ?PHAT%AUTHQ_WNS3W0'Z^M?$,&2IG\@[0:;F\QC?KXP
MM>3NZ)N[2OU[H,S9U@#4WCP*BL_ZA;!GI EHV'1>*7";L\B+>'2VCZ!<ZQ9<
M3U1Q:H<Z@0G"Q+DKX]='(-2XJD_E+G 7OMDP_J6]_<GZ7BZ<U37"/IJU&J?4
M6<O1W5QH[L@1W<MC.U+S1-&:X3T= &R;+.P5#>Z/__*2[GX5%[14@/ XL,';
MI QK_+3!V<?(E,A#GJ(S)1)==PR4OZ;!Q/7N(%7>;YWWWR[]-7?OAWK_#;GK
MB3\*UM0"[_@D=QT71.YFU8V5%S2D".<$W5W]\E"O.&>4%B"*SB/L=0G"Y?58
MU<6EE/,3*0U+7O4G9WOOZ%8&PQ+K_H0^<7IC^!0<(;%;&Y=Q33:L#=QTRE/?
M$#-$':_)*O_+6ZH"54RCKWO?T@/'B(=C&3LL;FULZN$$DZ6FHSC]S4)2[%UW
MBHO <"V"/3Z"PMX^$E(QR2&I&M4U'/0A'5>\OC\V_RT!7-!<DKBO[#GHL]H!
M#_4[ZHJ]TI'W6C&@.RO C3V1GPN@$D@ZR0$,G[^%>:=45N2]&;4TO;5U>I,0
MBM)%0H,^$QIU1A;KFII_V%;Y.G=U=3H.OB_._-#(MX@(%@MP6K;P[YC,8&]\
M)&DMN]?+EFC$MZRKBN1"UW/J3DMAJ*-+C-=^&&^D/)8;PG4))+]P?KZP=,WP
MUD7VS9B"N9;.4QB(AE#9,4?[:QORE"'AYDH$VWVQN]1RK\^^5)C.48@5[YZU
MH>'V,"U_+!TP+2*1/F##CN:I<(=^V$.?V6D,Q/LL'):X^WB15N112IS(F </
MF$-2O6;/4-.,M$RU8!^B;L)05?.T!)"**0M3WJ_8ON??:L.L66_,0A!="?4-
M-D*IA JA3DW[RE3=D>W=JO%0N_K0$9^CG3A9FNBOMI_9(XAA+?=[NJ$HKF$U
M0J(8XZU&BF9G,A J(RY^_40M>I;'1YR'H)4$; N<'9(B1E]&^BY&;IKEU\9?
M9 Y_(<<Z\V4ABKOT@K4\AKJE]33#=C+D=+FEWK%FF[Z*6B;E<FU4Z=[WNRP
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M6>Q%.6QF!LT:P3BB.CXY:VW?NQOJ?!L:%)W?D6](N+H(2/MR.L>C7ZL1C&*
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M(S#?48)$KZ ML*UCO=5W+I60][\^[/)BTYA=^K,@)"[".*UG8/OB.(X3SJ,
M[8W8%D9?P?$M\ 1@(?/(U0A9'>$"GF";3TXY3-E&6=/#B<R%2(XOWGR:=6^_
M)0B+^EU4.5_NMLNROLM:/[K[23P;F?TBU[BF[-M3>6?'1"9'P&.&DN$G_A]>
ML$OUV-MCW,<"W3F1H#U.(ZG+<@UMHM,FO?6/IXK8N<ZS!KUH9I_[K*F0IT[*
MX_X;*Q95=/GN$9?E>O2RGKM%4:4H:EZ@[*">RCZE4?@DQK!""J#.FTH.7>$X
M\9I[D6*8]:'M^82-^>P]BZB[C_9O?*A[OJ%QB_NU5X\/ Q9.OERRL,O2T' <
MD1G>\E'M^C_O%]36]WM9SSW,L;V;R%MLEI/B.MHQE-UP;*DJY3WB\44C%<:<
M;4Y4Q5WX:!Z<O<E1L>^_(.CSS-/=U,]PWG>ML]?KL,<G"TLX<NZ'T13 P$.[
M1,$\KQ\'^"*!46&>COGW%K$.89Y!E23\\PP+FK3+4N=4CBF "<*1 Q;1_,G0
ML5[$ALM!0F%DN@WTKGW\]H>;+UW"&#51#Z0[^_A&YV]!T-7ML!D9B:/89?_^
MTZL\^NF</1O>.^$X:535X27'1RM5_?/*B>JV;@5#LL%T?V<:]4<T/[#9]5VL
M/8<S4*;9V2!Y40"A"K-G_]A*E&E_(%5\3UM]!HV\-2F?#&8MCR$^JR)?W@7C
M1V@6BN)(TQ JV#E&$.UK55\^%^?G,5DL9LH)!]TF2G/X%"$EQ]U/BH2YR[M#
M,OS!6ZF*<G_[;NG1+BE<2"O*:/@8)M*-7TG]WQY=:"5):IY3X,R=?D[+XICA
M3CU0&SD,T%+<^&\>5@"(1]'M9Y!/"H$A25\PX,_N!07>LG7A)NS9H=AK8X83
MGYLO?%#\:+!O#I^K1U5X[( >F;G(V&(\*8!;Q6I"75!+W=1[#;/#RVT+BR^G
MNEU/WV<U'1:O*,.;O5%0QE-!-@B>?PB%;Y<D WL(AO !X[.Z8A*I%$"'X#@%
MH"N:.C;3"]FV-_M!DMIB><]*1%, K:=@*/!4T "!OW=F"<22HS%H<MC(*OER
M^2Y95(^<O0A. G^B 'C)XUD39. *7)T"P'* Y\2)G?^R%CD5E$3\RR_5&H[I
M)H?U4*W=J-9*I\D19%O2+C& 8)QH#5<GT'+2PD6I]O_9B1(1G'%40@'\JJ!&
MOK^## 40H?7O?E]S_O_6_^?6ZG-A3V0,]N_ YQJ %<$DUH(^(K/=+-$BB&IS
MZ#L*@/\QKEV-/J$Y.Y9!TFK?/MM2%@/&'-0]/7T_/81)Y/IDT S'.NUN.^&8
MC_Z2OL'4%\"A/'?BVC =B(4?Y7AA8PRGS]<K4)O+E7=?M,JDO=B$?+R&VAKK
ML?B]EZXUF(;SZ#_(&]8)BV4140W:T NZ:?TF/^.1QC^?AMNV6/=MB"SP15)T
M*RK TYR[JG&RV"OFE58[Y_Q"@.<N=TFG3F3:4LSX0'#FAJZFF4J;KNYZS=/]
MH8[$ 2#7QI#AG\KI8FLO=D:L$[^RW$<])[SRO11$N9*3=UW"?IPP?$Z>X73D
MO"?7Z7[?R9DHX=, ,KQO<7*F<2_%@1,4W-9E$#^F(_]W<$=G)6IC])_5^_I6
MIPXRRJ<[<@6K\.A9K.:T2!,%4+$:Z'L#,SGK1>TQ:3DR:_JP]?N;WV%OTB^:
MK,2^X)FZW^+7O9_"BK0B5<B*9'F1RL$W7OC,FYC48!@$3!N\$$JC$K'583L2
MMH/_%# *ORP4C=*@69B=K&KZ6.5/I7(_QX L(N)(ON9&X,!KA/.[O VMY."&
M!$&OSR8F>C([/UX_C5"\)ED;,88(;Q/G'++)"FB9\<BO!7KZML%OP%X05,A_
M9]AQ'EG9>2/B:B;)X9F_/Q._?M5XI,[+]37=LOO&AQS9S_J- N0I,".,NG*K
M8*-#Z]W3)_#^G%9EE>4)FJ >CKU0/K\;3]2L+E\22CL\:<7.DND%<!FZ^+>,
M3<43[3#U+"]?-:-"89&W$Z2*7),>OO)LH^%+6[^LORYE/-!K>A*3,D)"H-[*
M@>!LZDZL]6!V63OH4_X%S'2Y+^- UF8R4L$7BF9G6'[1RNQODK0<]4Y;/\Q@
M_UE60K/ @ZX9I4T6ET>=A1'LAE9,_82A@E \+?;8%&^#/>66;#->;JS*]0[2
M.)"Y4%(ZM(C)KZP<$)D.>EQM-F$Y?'IM_&K2,=^]10^O)RHRO%GO)A5[7<?&
M,%\K#4=N_"M=FQL03,AC(';25S)794VQ=&UC[?3-'UDM31JY78 YFYU?2XZP
MZW7!VL^?/HSQ7TEKU\EY&)T@D*\%H84]HEX?83"7WZ.6N. VD<#CFW#ZP\ML
M?^O*A^X9N>5J3%=WBXK<ZGS4FZYAP4@W0@$X@O$/0 $$$3N/9Y!@RPJ<3:1X
M+E]:1Y?TE=8+V@!M(U58&^C%*YT$GH +>VAVM?@_U,PLTYBAI:( 3P(A7L2I
M0-) YTC4?&W'^"6-=[!> 6?9M*>$W=6O"1/L#A5#E$HDLL1>V'^26?KF]VU^
MH"0-[]>1@]7M9((77NE(#%OXU!Z"D\+=S&*/TQA 9E]YM)BBO!VPW)XF.1?G
MS\+%=1VM\\VT0L53_U[VQ4RK7X6[X\</!9=1X\5D>FF![0>+_-B^L'J@]UPJ
M5+L22F+I'.3TL;C [LSN+E^CU-,QIRNZR$52,1E <L2L!*'E[)_F"!L%LF@9
M?Z>^/:>EV9$<UE(%K?^\<$9R\\JG%1>5AV_7EB=!H<F>C"S]-4JAP8KZ7 &[
MF/1?GSM(UY(51MS UYOY&QLXC4PEK,Q>3_ 897O$&WW)A;SEO/I9-3]U\NE7
ME<(^IC65K'K/FV6<J: UZ\O)YT(QA6MSS!7#OR]\LK*Z_MIFY=.82JX#CJZ5
M)+GU-QP49AVU,7&1/;YWWC5Z06!' K06*6<O'BY\K"2I #SNFU<P^LX<B3)&
M+<14M=4&DV!@\A=[_Z GC+GK9)_-3P:U_8="BB:!<;H0J=T'2S_I-4RY9P?]
M:V^)Z0>H9Q7 *H_W&+U'P.K!)_TB;B-@W/R'F1XW\"]Z@RVN;)\W>#6R(I 5
M/JX%/H@:K5,^W+QELC3P?HD"*!KJ:J4 N-\5>;: [M"TF3_:.R!)<&,*K1@?
MI B<,N30>#L^R).1HQ^J*4G'^V^V)L[XI/1<C:#_S550_*&[\^V6HAS4M?TF
MUBNX11/Z=:+5\D/5O=$-*;;WPLXU9@9XE>9.+F<CN\4KU,5X!!E+!8_OV Y5
M^P?J=7R*3""&YO^,Z;N:*)-U$JXP_THP4+C%6=U, ;R+M%F)T2K5K^D94&!-
MC_YI4.#;]NQNTO&VRAP^8U]2_J,PIZ6#C)9:FF\X/B)L[^N$TSX)WK=L'DD0
M\QI=G$-TH!CQ21N<W[?<"+FQAS$NEF%N4IVR16OA3U83N*)JN/ %!':3DH%
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MK@KA.O#OWV?\[Z?8KWW8F"%_8C %-,R;.M# 0_O"@0>ZH-L4P+P2E3*A[U,
M0?5X*H-2D%\ DED\$427^ITPB#9UO7Y(")CLJ_EO=IV%_!]>>&9\^E[]^RFC
M_\VO8.]:UN$C\%YQM5S#Z]5?\%9SF"&5QJ7C&"D >ID^LK0247RU/?KT(?#_
MGJM5-YW3!.#_H9<, BCXS,M_.2-\OO^S;Z\.J(3O7U.2IF4XUC2@.TF=E/7A
MU&/P;Q'_8VUSXFUL_9#*W2&U3&.9^@BCE.^:L2I+<5-IAR,&@E@1LC+B"WR+
MP>ZL<E)M/M$QIX.D@<S!\M$M_.YK962"CTLL4ALJ#N<!M\U"U@0)U\[J7]Y%
MM4&.&*HI@ $'"#H:)SEV2D\ ,<S ^=I[G]&R:$%^*EFV4N/].RV+P3"P%$5D
M5M3 J!V]'28_LI]ED:7!SK;4.H6:M!0+A&"\VJI>SK!WL#,ETEHORBYSU#@;
M=AG:?E(M5F^T_K;>E;$<ND=B/3 (A\\E(ECJY0B.D\2+965#%<4W[<_+%'#6
MR7S%N(_$H5?"!P3/A;QZ&W[CZ5X\((5^JU&.BM"!1#ULV=QJ2+WS/#@$<I4L
M9-=(]TUI(1Q.M[%RM/F<SL/J!SW-;X<WRC)!ER<#+:@=LG];D\$JOFN/TD"E
M0PSRK+=+]KA9#W*VBBF "WTXD6UN[$?"@G[%PBX-403O:O-1;!SV8F'RJ+QR
MV#'*]2I \&E\QV6II>M76-_<PRM0;?Z,@<3(&#8$[0&0QXO.H+YBZ.Z()>YB
MO"\F*,:3_GD9+%8Q,^%VY5==!VFNJ'^H_C5?JW0;[E;[F&>5*_TM-ZB"69&"
MQ?LF*( C6ZQ3&R,;U!@4YX,[KY@HCVT-?5W@^N8G!9#S>[)4ZM;V1$V5E#LO
M4XI;TC&1V: -P[9MA"V>E_$*?A&GC\_+M$MJB-RXB[(IBSHQ_=5%OS.5_MHC
M8 S)U/-X1[;+C' PN\-H*8-!]Y0;#" J#;98L\B=H\<W<41SO.MB\8WUTZ$U
MS].+@8^VX3G=P.^E[*P#SJ7*?VT:5UAK"(;P9J%#C0FZIF=9QR&-]V&"M3C/
MX,%>=9/FT21JN#@8A2.3S[\:^/Q BU=8=TY$>EU5NI)#52*Q_;>L[*"O4M>!
M%IF&2 $@-A4^6M_^USYB[6$SC5D(7MR&_(]E!^1(>@J^SIWEFRII3&RG  +T
MX4L=LN\H ,M4-#D&8[#>S25:C'[:=[Q^2@X>GP<' %]DPM#$%=2#,V;'N&G,
MMBVZ8#V:X [MSJXNMW&9WQY'B-C)^4=\>A-&,A;X"ET X@7[@K:U(1<W$ ]G
M_APEZ_3]M32+ -]I(XM+J[\V/MIQL1X^R9TMP<D!;,9.X<_N%__^YK1S %)]
M IT!WX?; C_/<H+?H#B]DDU+JJIP-JW1UR'JKI\<A*J.$F*>*&\1')$0DLFU
MM#<=SRZ?NZL+9VA\B@<N'G_)P"+SQ]'0/QHT7K4G22,0&@&ED<GC2J= SK>)
M2Y9HF4C?K[!/I$PQH-]1D@]RNZB@"!]@;A.MTN^6K.,.SRM=]&WC>IC[QF@J
MD$;N-:VO&7F8?!/OM( *C3.&)H X\3H+2)4?HV!&" 4 M3LUL3D_JQ,DUO:4
MYCAM_+?VZ[72K.B>Q0?YVL<\T1GK^Z ,&F.]#&_DI^,3[JK@7U@*H-7)+\EL
M--IID1'HQ6E8UHA[Q$.OG#X0+^1@XU7$:30LI)RPP_+UR:\\[;F(]R>Z;VR!
M59+M(8UT> -S;%A65 9T(=5"JAQY1?75T,^A^=*AZ9\2)7D,]#^FNR4,F>L\
M?-^NGR:VRIG,&6PA<]9K,^R.U>%8C3:-MS[9,_S+\5N,Q4JAZ?&7]?4U6TLN
MQ-\VO'[O3"F+W(N!H)TF1+2KD[7'9&46&&C:QUQM,:,Q'@Z[8JNQ77^L)H>?
M2&D615QZ=^O4\G7*LCB'(X:;E?]2<Y?]*4(>WBR+FONI1<9@KF79^/RJ#%_0
MN-9*,^LM5-NU!M*5-9(96M'GYY2Z=3*^TO@-*$(!0,"C]1I'>J1D<8T \X<X
M">2"H ;=%+2V)HIN3$S*JC31)-(HN:>V AW'M9S\:" 6Z-TYQ[P=?^"E89N'
MR5[]NY!%IWUP1*_G4/[-0*5+>/>MB@++N6L%N29K'R]FY4-,Y6VRUV_&SII/
MJ0LD<M<S%:UZO,<"V/LJ8#:$!T3F8; C!1!9A> A>F?W.,]_,@DNQ^J'?DBS
M>G#!T6#[B0B?S&?9PSA7-]UB&*EAKMYIW& A>IP\4JDN<;\HLG3GFS'IE[3P
MXV?PO"CY7CJZ"M@VCHU,OSD'#@9=&:@7P$+DZW'9-?R%SZPC[2N96Z&VXTP*
MP 0]ZQ]HP!WA6Q0 F^7*XD.%UT,>:B:><N^YI?=<7YAU:\B/4 !SZ:BJF^&$
MVT3I. U#9$4T)[1?UM@QAO=:_BW6IU,"D/M6?E(S+FP93T[ Q!N[1Q>CF]2
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M7($"^%)T<E#G%+PGZ!6E!@W@R\2$\][1S@_A;N;K<1WS4((2[(BV>*=%#;R
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MTJ"<CCXB"Z'5(4^%"W'ML'/,][Q(>+E4L>CLXX9)[MFME/UV%S2K(@<W7*=
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M!4IJ<G$%EU/'3+6E,94G/,4"PX7:/-' "E7$J^EC!C8!S3;2%N5Y<=BE@F3
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M_84\6L\R-&025A CE<W<Q6W:@6+P087#F2TMK)7:T8L\U-HUXR7*1)L%JE
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MYCSL6\>:KUG2+LL7+M<-\F<DX/B?N6L.O?$KA! SG+LY%)Z!G#]<HUXP;Z+
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M]?EY*GT=Q.-@^$()B8_Q^#,EHP+<4?@9(8+,7)O!"3N"!)B"X^KV'!7 >V3
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M_SF7\QEE,QN%_B_&^WQ_?JG._X5R@#U7D?_>,6648!*=0$:"M@JEI0C%J63
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MIEN7!J#?I8JRU%WOR25LF5:_^^W]1I];<VY#B=RXD^S\<\S.BH:&4+T<V="
MZEFV2&W/-;88*23>XOXLQ4C0N!3I^%8QFM8L\PXKD+/O_2Z>VNMRA\H[V7H*
M(#Z2C6U[.2WL?7XF^,VPHX(=<:)S2',(Z87/?G^[1(Y\-8.7_BESMU=KCWLS
MJT/'!^+-_7J:0N2?FSTB(WJSFMO>.TRD %B.V7(^>\&379L83VS\D[S//M3
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M_Z6Y]'6K4]#%GED9,O71LT&6-5-T$P/D-NE+Q6JU^]1);,OT%1PBO7"YSZS
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MS))R3O)\2O#O_/%S\<N)Q6*XD9*/,?&&([)W!S=" 6@"CM(WF:T$M>1+<*(
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M!>I2%#<H^V''_?U@3ZF!.L/_,\WZW'X#@H3A?< FB+PU%0XR*6$:(/"UJ"6
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MB4MVRS]AR%Y*P,]Y;>O[EPO",5F$+C>5U=A2FU^6JWC/2 ^?Q-M^::A[;>3
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MF8)$)::R5^,?BGXU'>$/S#DBX=+3G.FOSR'*?67KE#ZJ+OH-= P]%5>O7#T
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MNM?G[)89[W'.Z\ALJCLJ^!K4,J,_;7H"ELV37L=/Y35IM=IJ4UNA ;>.AM,
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M@!IRMH'L5Q3;F3GA!#%ZUSI0J%B%XD-\'\=!2,<[Z1\@<O:;2,WH[?/#A6G
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M11%%JNB9JD"RX$A/HGR3+0:&U_*DYV%RDT^"EO^7<AK ,DC@I[Z"\"&FXA=
MMI0^Y2YMXORW8I"6Y$W+48ZK2M.7J&X:<%J]8=IQ+XP&S-J"UJQ,PRC'3?ZN
M+2\80OD8?-[<:=>%RD"(S^WFO5#J]/S3,=[VT7L];$,!5TJ0B>CI*X,1G_Y$
MWP8#,LD6HLP1+N+G7BIY;5UP$&$2U@VV"91@?+MH/[AZ=+EM0%G+]E&.6.9P
M>?&$Y,9IY=S\^\4WW'3];8 =$28"+!I2WI6<M;1E2M2)V2'!44[Q*L5JRS_8
MQ#$5_('Q&H?VPTT)1_<B9!2*RICSHO+RPB9$OGXW35[6V^1<?+2YW^FI?=MM
MJ.WFR=Y!E#O\-N4360K?N@MUOJ<_X7VE,>SHUN/7WK\:(.\"[)(("([@2;.7
M3GM1&4NR'@Z5XX[#YQ*>S6S(#K6>6%78D=D:%4GU5^GD7#3L<% /'/O(Z;XC
MU.8]@QI3:H6<6INKJ!^Z$-MG;5108/(]YATX[8Y):@[&N&7.]JK[W,OF@:H_
MF'ZOI351G!X)O?FWCY7^\F,T_]5NYQ;?W"D05S[G+2)Y^OO9R /;W;N43W"U
M&58+N%*NIFR.P/72S]O5^0F$YY]<%TT]W%/-Q56@\V:31+L9_J+#Q!6= 3$7
M<3%R\NN?T]QC?2VU+K=&7C(&*]HES;48Q-QU6=#@RWO5K[GH?>3Q/1MG0DZK
MY!73\N&.?:FEH^F1HL__;RE%AO33OYT%/=20#^,CFG6WIO(.2 ?=Y:KLW]&V
M*ZU"BKC&#.0!FF>G4@,./,T_I+]>7(]X=__]AWTT(9QZ C&#/-RVBV33<YI>
M\0GZS).XNG?G>DJ+8'E<JKQ-@/LP1)&8B#%+#-FIB9$S_EK=O\-L/"Y3]_.I
M@K"*_Q&&;JNVZ&@^RA=A&#6W?1 NG.5D8O#+TB$I:+:'P-_I\E72KN>-.]&D
M)+PKM]'L[L);\TO9E_R4((GH$EBL,+ZHU6_U:9QS8O,;Q%.,5^?FZ*_]"+':
M3-MY9FD#0IMEK>?!>UR=05G=X:Z=Q ZY-YJR/9XQ/]AVBLX10TE,<"5BR$S*
M)8MD31U99VETLG/V"P?678_[[7//;T$%P@W9;'2/J7C>ZIOIV:XQ5_+^X+QV
M_L%Y8X_5W$^7CT:(O&$TU%)IEVF/;;E9^VX&?2^#(3R%8T:LFL_H)[&?JO'O
M#93"I+\2E#;![AM+;/^%>5@05HA\4\$L()RY22RB ;;W(0>/^W(TK57 [I0E
M]GQ>51K1+D2PH[Q8!^F_]E!1"&Q6OP\<YGT2%,#8I!6Y+SQYE084JV"I$0&#
M>#MR))\5)4 =)!),"-O_RDFNX%II0-2_2K8/#?:J<QQJI?9>@@!P<":RV:&?
M>FLW-]-%9Q>^=RD(LD-=8922V-.LL[^;=][YS3%C'E&-6T$:HDCRN8 KL,T3
MH#7X,S!\[M(7IYXN@E%]^(S@A5+*S67>J[-^L\TFK=QL E'G):LEJ[]67^'7
M,S"UPA<JBS*2PV2ZT-NRRQ!RG(4<^9RB!.6P%YI\!$F^K,K4BUADRP))PU4$
M[E[GLE V_7:S\2;4-L\P#%\P -L_CR0:3W* /K:"DVRH2QH8/,Y>$'RPI].S
MT>G0@(8'?]S_?M/+ZH!A"4UDAA"-//V+%;K_)L:!:"K'9U..R723H=YLU#N%
M2.JI%)#M';A2#[=1P?_^I\I85UE&A?_WQAATSC?,%05#B,9=$UG4 <*15+.$
M<4ADV3%;I-INK!-W,X1U>YR$+5XZ*"^Q=>F%:GW1FNY88EJ_RJ2!<NC: 02[
M9&,PA^JM5=C^PUH4_I5]-M7ZP(IZ.!NLPR7_@\8"!XJ1+.3B/)]L-"PN?A5S
M/#.QQ7>5L Y2D(XV1@&[' 'C2+@<_@MDD^Y./MV=ZD=3!=S4%XJ@U17W05_U
MB#>EK0Z.+"&(3"B<IE20J=F#!1C.W.\>-81O@<I9#<)V$8._QJ0:]A_^TH#C
MNE$TX$80V)*';.EW@-6.""R0H:Y,B![;AV!X*O3!Y2ORKVI--/\F",.=H/>.
MSW_V#DVY9(:/8-2=<7H'+$XHHC&].VG^3>\B#?A/L3_ZVZ%M+/DHV-_FMZP]
M4?B"VBLT0"T&' !,$R QB+_\5[46D/^0H@&O+M&'F6HR#7A> CXLT%WS=UL,
MS>$7\93%BUA] L>XWT48Q[(8LO!2X0LX=_H+&G VY1IB/!<1ZEY_I*_ "S7&
MWQHW-CX^KC$F&]UR/OK\VWE'@2G?J>#[GM<N$.]ETX G?FVM2<]\D]X-E?.%
MHD>'-@^<6E^I?+S::&;R%"BYQ-NJ-?/V'07EW7%9E6LL,]&GI'K2ZG"!Z"SB
ML\Z&B:K0%N'6-%O1;F@V]4UCY");B+1_IIVSA$Z\ILW/SF>O2I0WW37EW,#)
MI$D=K*M[!T6A6A$RJ&?$8%1$/@W8V 0Q'!B9X_3CL#>"), &$?ZC08[WHO\<
MKB((G.$1+#[.@09L4>QH "*13+^4)4J/!J!68"0R>@9LC:;3&8@>B#8X+.[\
M.2RD7<%N@B"> ,>H_5^D'31?;Q-H@,008F\?T0I.F*^$->@A3P1#'@>&&@)V
M>.PVXS\FH*Q/D+.(1M.=W^>_X2&CKJ?K RE-5]36G%^Z4YP:MK&CR.:DA48=
MMM8$LW=RIU;,XAVB'N=/VS/_Z,DH62JM9&[S*0*IX<MB/X]AG3(\_X.EW5U2
M*LG_)0 .:R3<SIYJ5^>'Q;"-C9L1S7%BW%JE/7W3*GP_=D=_B_WY55NZ7?F>
M\\@-^\<Q=^-0364Q:^L?EH+NJBI2$FO5IKJ1 ;#GMH,%.]"U1^?BQ-.>GFJ.
MY^HXX]^4FR"_RJIN1Y)U8H<')S=X.@T5WTGH]JM.?>QD:FV.4+Y;V2YZ[_-1
M^R58F?,N<@9J=>I2Z-JZC#,,HT_T^:&=[9#QZM/8,#\3[D.BZ'U"F'*J^D.]
ML=WEK3953A!;A7CMBY.5LBSL^UJ>SG=-;H[=]KI]/(>4QO>]X:B( *'4)K1[
M0*4_AIB'=]G"8<.DZX+;FLT0$<JP/)T+M7*[K*+YGIHO>ZL5\Z#6L^[]RL/:
M^*A=PT%5<2)$9_ 301>5/>%D(L>5P&5R1<$IXIQ^EUSZFPQ&8LG#O19D- R?
M0M36QD]&X?S@4%S=Q6GM[ZMI2>:)"?X JT@\[.K-:+;?4NNJV4+1998E> QN
M AEJHAF_I6E<;Z&!76,[LVSP*[UPDOOR=Q./ZH^Q-Y;536HEO-J)07@&0T)K
M%*YF25G-]3-F6L=#Y["P^.[FI=O&QC9U1A^:HGW/QV-W_8:/)6:T^^>JVWH7
M^'TDVDSV[I6FVKS7NC@3PE<3VK"@DG=1+S*1 +_4!Y=PSNYTH" +M//5 KY>
M?Z.4_DE?%EE]3ZEN)8OXEJ3KB#U-O4(T:?98=+!E"UT_L^-%\CFOL*[:N] M
MZS-G9GI-JU&8H>AN\O?@I<"'E'=%I<BH)+:01X0G=?-I!1;=3S>#XI=Y5L>N
MNES(-#ISV$,R.9RWZWBA[8QKH_E&2$*2X#3QY?##?N^=Y-5AV73[_="F._GQ
M1X7?-K;)RXP3LW=;WS9#N)7E9GC(T"]M_I\FNOUZ?JT,^Y;\]H1A-N;QT4=J
M[<U.T<X\ (L;@B]8<ME*P*;';K"4A%R+$1K,ST8[F&G41U^W[RB\)JC6Z*)M
MS=Z7-+\LM%3T.?BGZL5A*IN?:\M!T"96<UI,RVO@V^NJU)':;B8EG[&N%Y[4
MGIV\@[W5M].LD.FUME#-UZ55Y[[V:93YY_&F*BEI&]9$O]IL]F)P_)@@^%4=
M&08I/U:%SVL8TXBR36L[OV3F3?D]7O,2/)$]O[>[5)RA::7U1->\ J?&\&[:
MH!C9_V3!I?""]?QQS!NBG7[_NN#/@-"OMT\G!SPWB#CT0B!D)WN#>>+<( UX
M.J'!>JLI?DGH<A]9+8U88XQ4KQA837H2.S:7POWX"\Y4ET?VFL>A_"#7J?J\
M-#^8V1"_<0RN%ZX%SE._7C.'Q>L43MIOZTVDLBD/540@[)/#]%A&B%9-Y?6<
MO7")//&JH_':8KVIA+MQ(D67?C8<:7@8?=A#[^[;Z8VUTS2 F1W#FK44S%:&
MGZB;_PI7^[(OQZ[K6KC[=;V#TG*N?>P0@[+!!F.U!0@M(7X9N(K7937\G8:3
M=Z13F'1\E+Z,)D&_S\3+3\JL"UK@U9:BM^),)Q6(C,Y3V%<)P6)1;0>66<<R
MJJXZ/PJ;>U(=Q\MU_^B[RU=J1#XRQ$I9G*PC.:Q8GNVM#<S^Y><M4D9X@Q"&
MYW=G?N#DTH^^-V^RV1N)EQ,/6GF%B#2T\F-LI K6]HQ-=S>-O=KKNAVJL_ES
M<8V7YYR\3A5O5T! *CXPJRB"!@#*:O@*<*23M?R_:+J[3A\]?,?&9\MKP7[H
MP<P[(3EEYTK;8H4U"Z[WI'-^;\V)J&F]$V,K"1Z.EI#^\P.272N"*W=*WD6<
MF)*2SJU2?CQ3F4.]1!T)R&[!LOAE: W67D@O**QS%YPH32B?YEU]$CTMY\M,
MFC_]@LN<D5? BS=I;TTE=YDJ10BK.A9U(68XLG3<6>4WSY0A5N8;QO?E>9\U
M'&=TM=P.;%S_B&B&A%=G8PJ@F KN1$,NPM'DR:N,'NVN7_W/7:^\M/%44B_+
M8\:P$K(Y:;LQ+^34"[.WB@T(7V/(L:^H2%(.<.Y*?+2K%<UTU^+[8P<AFQJ-
MB?759L]VY>&/R?S1-" GF6#HJ2G%%8(N$X<ME&+W1O,F^0<NN9YVV$^R(NXC
M\U ;3-TDUC8RX2V5*!.(,99"GEI::$^DJMI2&9"U5Y95V$8=K["O]PU?_P*2
MY4.6NPNKN_%W\FHZ#$=V&CKAT)GNV+&*V%+!6WK51L:#,K>^6-PMZO@2(QQY
M>D34^1)CH=J, $6%9 S71^*P&*77@_".-0?+'Z.>,35OUCU7P74.J^XT#5_X
MO!HXG). 6Z^:]3<-=5*]S6&@'AC^AKY/\3_]<5ZH77-V%\A+Z2U^(C0UX'6_
MPX+7H-I7LQ_+@'9D]9S6;/[=R_NKE>B!NW)12M/8A8JQ148&(6MC1@7^UYBG
M];&D]'I&(C/A(BP4=2;?6_NU>DLA"SMA2Y,?_[-R'6:9LK(NP40LTB.D(H72
MLB9N!3F<.W<A>D[W)-N,%2PVHUTI*VW=VLFSJ7/9R4"=L\GWCR0S&FVL%%CW
M4.:77U/!$-P-@:$L@F]3]9/9A#U+D1[G]7,V\>KB:4S*SQ1?,A\^_AD2D\H&
MVY+U<Z4!Q_01!"-R-0UH-.@F/W.:":?$5F=3W]7YB04E<+]*<33(ZW;*W-W8
M4@[X@+KZT;D"168@,4#XE?EIP"V[,#3^"2,-X 2!!W-1(W9;U@]$>L?<Z!J#
M>BT@R]I4!(9Z K6+3IQ&6*/PU61!NE0X#&_'^.=]S&A&1,\HKIO,VTB_XYFP
MIP[*@+@&%4X^11W>).NMLE.YK4+0B\_P"U26J7_<^3T\M7' 3[_:/D0>1LRE
MJBYF4+03R60R;"K\WS7QH_;YR$K_> :&\R;*4<.*3H)XJHN-*HI&5HNB!ZH0
MW=T8ZG'$,_]@&)[MSZH0?ZT*^Y]5Y=  PSDR#?B'@8@IR,@ELGCW,9"5#..P
M9%ZU?UP@_:T1O2U#]/UG?(-ZC:A9'=3@8 A>DU(T1P2!&JQ8CV@1#%J4]@V#
M(DJ%T(#(C+\XFT<DI6=3M!%;6W@00TFL(22:J8TPG(\?Z N:[LL/T)>W5&X3
MT&PG_ :5Y=,?0N3TO'\&!$FR[:!O=])C4O-'FUF%(_X=?;K9@Z#9?+?^%7[S
M/\-_^C^B0@- H[JIK&=!_;E[X?5G%X.O)MW9KG/2&LA\Y1(GYC+SX7W0'6-Y
M3K+/\'(VF2_:G61(SX5?8BE!@=[=\A3G\S,3_YJR-N<Z@&7[H/A6?P[FRWCW
M<GK]_9T;+$SS<!"="KN^0JP*RU'C?IGH/.R.@<TZXY&45T_IMVI&.KDIWAK&
MRS20>4$*$4JPHK9^@6VW9YG _]M6I,'(GV<E/Q#[W/&!+8A=QEH:T,MFELJJ
M@(\%,:YE'&+Q<.; JMA.C*J3^9>9I+'IBY$/?CUYK,%S%GD3RC6.BTUDT1;P
M6(EKS7!,7TE,NW\2 +2C#?H:O%H\]VTJL5QPWAZR76%Y3I!0@>#,[3=*HRO<
M"6J#S)P_,*)76G=GH[>& 6,4&6HA1PV6H0%D(2R",*9'-$YR)>\.H_&!032@
MS?%=03$/E*1 M(,$M@BA-F4<$>0X/:M1#$8D:(,#@3/*16RJ.X-0OK2?!BS,
M6(+#<VV/!@A^_J,(L5!>1S\FMD%5TBP-&E6NUX"1I<+#8'732+)HF1[U3@:5
M%X.!3!(TJ9QF(.L0,1[^PYS %?I1N'H:,%.*:"H#U=2C_Z%&>TQU-8/[+U+T
MUYTX''+#+P-D) 7WP-A#G:B<A2 U4]FA^V4%^@7#F2VAM[!6]*-H= ,S0$4L
M5D0[-A9$8 M(/AQ1=.KX'\85%!&-JUW)>\,@P?"G!X.^V>D$>M8=A* !C(E8
ML@_2GE1\'8'[J'R=\J]H0/!=0CS4O4@8/G<0Y,+EZ+_6_%?35#+6&UIH0)@;
MOFVO%O0EU#CGCW<3&'D_6](D2#6;\N[3>>S8WZO_JX&[R!J&/Z(#^R,ZBO3H
MZ"- )VG O[PTM\(7>&'W-XKH9^](-""V%XS:L X-2#V@ 50V"31Q3:AWS]H&
M@5'TL_JS_NS[?_+SC\I2*_^*#OK_N]'Y/]!W=%S!,0$E!_\[7+_^95 @:% %
M:!!()86(AFRL2[(F"2;5V[[,>4LY7=_\SW^MVSX^E7?WUA5C:[4CI]SU4BU&
M2A7J)!H3Z'.G(Y)YS,'7#%\R4"M6T.GIZEM@:8D1B;-88F9?33+1_W'QW3'@
ME&"XIX7<JVL(>R2?) W@BLB@PNH''%$1)\# 5>+U*)%"X(S8-W&RP,^<JJO4
MBL+0@#,Z G;4L67( B'#!/W(_B'1;9281F"D-G&A#FX=]<G9<TH<H'(M5I>7
MN0?)Y$?Y>Y?JB,A)-CT9 RP:>0[??"XU# 3HHQE+!3Q=X8CU"^!ZVB;J]410
MA[,#C$!*#VQA$NQ;QTQ@9 \D\5XU(YF$14S]6 "[V_T7 P8/T>0K$PS4H UP
M7:9+TE^W*'U"=-?M45D*$<0YR%"#-X>)!-@DOC? >3YP@\S[D 80?L!P>D3$
MO\5$\Y_OHZE,$018,^+D)[P>67ALMR ]J*3HU?R/M37R6CK693K3CC^YZ+?A
M[IQIMEA#LF2_LA4D2MGT8GC>)#.S*;OY^Y3/5W]P?'KKU@%EB5M:A@ZBI_)4
M3Y?@4Y OC%L5WMO%DQ ?W$5&SYK/;)2TW>OG7,""Z[#@)5PWQNKD(G>2T7R6
MT-NCO_J:<,H)=23#AZ,_3T[Y9.2P?G1;>'FB(*/\U<XE!!,\N)P8.WDZL=5L
ML+Y&L-JBH'92=.2IR=7<4Q]4?:;(&1]/AA2XPTX%7R,;$YVF':13;DT?JQTV
M^/)4-OA\X)=6S];9N#"-:QH>4'-]RN=2BMYN"!X279@V*"Z,[T+9NG[A-I)Z
MV''\$1293/Q]EKWK_R+O/:.:ZM9VX2@J*@+2.T%!4!"P4$1*5*2)"*CT$A61
M;D! @I2H2&\* @I(5$! 2D2JM$@-TB*]"2$!!*0EE+ D[5OX['W.WL]^SSCO
M-[[Q_3CC_.#'"FO.>;=YW]>UUIQK>G3[>S#8;_95>*0ZF/MWQE_N]-R'_ZSX
M9;(+"E2%)60ZJ;@K<ML!SF#U'R>M1O!9@U4"8^*FVC]ZJ0SY:KQ3JR-FEL?Q
M@OWR+>\3H6+J.$2L)-3+V("2%B6ZM_Z\MQV:-\/FV)>#8AT6@;ON:8@?VBJ$
MEQDL.Q )SZ <11LA1L'&U$6)>UXW1(/55B5F$/P^OY7ZZ.U<_:E7#W.S]Z&_
MLB!C_;K #6)MB([)WBP^TFO_R,1O,;[.GM2?JFLRJ-?WXJDIMW9)[<ITD7U_
M>KR-!1&-#+>SUCE)2;;%%:.:M-IK6KI/UX]B.W@B?YA*&(BLVJ)Y*K@3X <V
MI$-*D.-V50D:E@?>);8:J[;PGI)1N)R4-O$8B;L_F$S$CNGT-\*YO#9HYS";
MG#=,*21DB5ALA87=JR3>5\\C9 R[GWKO%]%*'P'R:)>1<BUP#BV3G/D:1)20
M.47G;4VJZOYB&Y710TTVEWVE^,Y471"+V]4O)YO]'5, A$V')I/@A]WX@.96
MCA!BB(I[>@SG(WT>NY?Q6VS80P\[,G=?,YJ.Z:TM!V:=R<MU%G(M'*M+%L^Z
MY[B%"D^WW-$5-E>:EC*=HM$W5+.G,>,="!%'Y+BI6T4$N>0+D?)AP3:H>3]-
M\5L,OXNG^/+)SUDY1!Q;;J Q_489?+0'U\3!.4P%69[,T*&NMTU.:@N\^7.:
M54H^<4[BO?FNCQS:PFB7;)'.FW(4:,Q9SK?8)!R35WNXMS%NU</G1$CUW(OT
M]GY_5$)ZU1,5&*\=LJSULRM3:D#(N"S3(\E7T]#);#KTIN >YT_[-(IK\6/8
MQ@?!>C5 LF0LR12P%K+4YW,=YI$X)N>!*GM]\>?UVL"#2+R(A'L>");'N7!$
M]#,Z^_L?;EMIV_?CMCI+Q@\W.'1T^DJT\.JMHXJBIW]P.$EH)G'JZD92H#A"
MC",O1?!=+@&YV-I+<*LZ8_OCZ.+9,SE1K=:[Q=B?!XI;P !W:#1T0P<))K%]
MZV!6L,#332E:.JI &DG1?4SC3M5@A6;&2)(]XF:JI3_G4_T+MS/%77)O]T)/
M2\S15;E;$K>A6K=!/!$(@@P0<>>'RJ"^_Y[FIHOA=\ ENY[9?^\V2 ":/ #C
MA<T'4R*9G'-_ ?&(=\ +$+S.Q<'("!@(7NTE^'=-HIK-Z(8@?EYO@P+J:! _
M%]JR+ZM31*<=/\?7!9"&C.3TCE2X14E]Z@F]GS('4D[4VND%%F23 F4^DW^T
MBW8:.K&ZG.[/;RG[1$_ 47_M"6VRVA&;-M?W6 ?%P :K#3N*?-_4LQ'Q7'$\
MH/D^&B(M_2ML'9.ZN(@?DR-1PXJ"H0.* 49G?HT%V=NN2-JX\?K%*8F]Z?A]
M1W-_=W D$XD)4OQ)M70E^W($&;]]'Z/0=^Y_]Z+S/_X:8A@1H7*JE=F!Q*#.
M*,M)9W5+PQD%E=>[>D,>:.!H<I,-_IBKC!<G[V-TSKLINI=^'B_Z?*6G]JEL
MDW"B[OJN3=7.N)@4.=\\=MF/A5!OD"ZNR_6&[_#%TQ&<.J]8D$>/82\Q@#R4
MGN,T'?!/YJ<=A*,+<#.OGZ;4,G$.8.V^XE@GB;W7@9HX,H^5GO:!MJ2!#%U@
M03B<WZH&U:B!NCL*\UP=6VP*Y:BVR2:O9OHK\SB\&ZL\[XQ=59)1>L GOUM!
MDJT#G:BC(""J,F&T%!NO?N)X"[E&84D9. Y="B>R(*/3S(.<1 R@M[R\TL!'
MOUK37V=,?&BAZ*6&]I<7"MMS5UYG8Z39VR2C)GV[!D^]#GBHTX70TWE/Q;[N
M;#-X=E:/?#)M2%2.:@\;I8(BWW7K"RS@FHB9O)ND-K7K4,MPLM9V4IR+@!^)
MD%O,=+GJG>25USM"3WR/U8--/4=S,H7I1HRL.B,GERE,.(Q71T.MX30Q48R@
MG>$^)O0\XWW?# MBF18!/\M[*T58+LXB$9 N22&&()@'8233,,=S@!B9.7V-
MLJ_PHY%B6E0Y?AFDG@<SSJU(>+Y-O?[@8X= [%.[>[[)Z3TV&R$T/5H,K3AH
M1#IL;!5U8STAAB$#TCL31Z05=8G1H"/G85O5B'WVD#Q*/UL_H((_V)AM(/E$
M8$-([03_Y,TB"Y&J3P$_ZC3%8\")^A07S$-.:S9] C_HK^C[56<78$J9MDU=
MV,1P $I^(4HF,F=C@ZH2U%RG'\J_NU*+V'<UN<J=A[2?YG^Q]</RN'$A"W(5
M4]!PS0^/?Z2PH4G*H_-BC,F1=-X@$XIB#3@A5\B,.MCA8-T\_6(9"O"0$7=8
MX="M0(7=/?K&!J^W#IUY,;T%YZ"KP::BS8!VUT>V0&G#&:5D1BGU+LW[,Q.7
M>@,QYQ205K=O//.NBXA KZEFKJH__0>6'')H4M \M;XD.%LO))"F0#]!QD=C
MIY*P%;"8"F7N!?5)&7+W5GBRP<#/<H/:?D$O(Z=7ND?V/C_/6UP>_W6]K_XL
M\\ [%F1/XW>4&VH$C[/=BBY1]*0[4*27):' K>3+MD:8(FF/\6@#,0OHM\-"
M&^L&5KO>7"6EJ,HI9A^#VHTN;#'W]#=U/#3^B)UV6I^,2:5V>*E1/8*B[E95
M5SU,L,ZYCA%C>YHC>9$]3M)=?G/Z^J_YN7%]?G,]L[VA1:C&?-2:'X$/NV09
M"<Z./NR)Q4TG)B=(HI,_[)P*=Z<<MFV9LEYGS)R&I?U,Z,("%-C#X^]CZ#G;
M7TL0;; U=:0!L^DL:D&BU2^E!YAN/ ST<<#.K%_OG^G_J7ZXV_E4C)Z36%N@
M%*5B/,[\USZ*B ".^YEW(TG"XWKI4,6RDLFC!64E4D6JLN*L'=*K&4(IA4\T
M"K?Y/#=]=!FX*"4,3HC:-GL?%@3ZC05I6R"0\X^!>;*V#0Z(H^GW$U\)8HEV
M#JCOHR0,C88 [W #H?C$SC7ZKVOW*OJ)W]ST[DD0]7X%(W_:#]6$3F9&K(J@
MIAZ@*#6%@<EKBJBFRIJ=IQ>M\"TJ@06)V^$[8ZO,"+P BK"(8IZU0!%-P>%U
M ^*P9 T8, $EY\W\BQ2Q@>'T6) SE>P\7*!8,9A5X#@J:'+Q?2QX;<I@[%RK
MVC'YZ>@-=22(?MF269#XG4%"3;?%ZD"8]61'N?FJ5_#VTIVA%YD16'#H<7!H
M [J"!V9;E&[!@J! %@UT6X% &";'X/Q?*:3X4^C_)X7 3FO_T>GV3J>#<.#&
M&NK[Q+0RG<N4J6X &AHV?Y^2QF278T'$WD_>[IZQW7G?N7/4G$L,=G43I.@B
M('NK(# XL^19$.P02)_N?03)P+_*#_MWR037N1!'0<[O@=T6VSG@%%6\8P3H
MWV13M?IO&-<W\$^PL"!_HH6Q$QVN_R'?1^R_FR+QWW34JVO.:*_XFS$-_BZ=
MQ?_61>*3>AC <ABUH88L9+(@.U\^3(?]339WS+\;-/OO*B)._?SCZ7]SRO]K
M3T>JO_#XNT\2_RY;X7^8\S]4M.O2J/O/F(DD5@S!9G:N_SD)!/9@_T6)?CB1
M/XQYCR "+5YS8D'TOILG4JR::]*>AHH L;9E%(.H]%6COA6$%&]][1$DR<6A
MN4/$/K\=+QVSH*. :L_U8$%NOP&M<TUPL!,H69N^SDCT]X@MC"XI^4!.:396
M>2;T.C[;.5K\;A:RI)#4CVI5W&E1K/"GA90O\P28Z&K),)#^'OD'_34#M=,#
M\,ROZ>K,^ %Y3(PIW1GW%+9D1N%FIL[[YV+H1RJ&ZN#^Q<V%'F,6F[-%@FG[
MVN;UDPPXKGQ+D=>_F/*[+5# RN'"LO@,*8X%R1P61.^_Z\^"O*AJTQU?_I/$
M<%-T4.=5,+?]"8<,I3BNSH#?W6+8'H]XT*YZ_[3KQE^A\_X?H?,(O!>R5(7*
M[*VE_ZPF #>O_Q68W'\FG_R)?\1*'A@K;_]T>+X:^V\W70 N'H&N_67\?M#X
M??W5DFPLR-[S0/;'8+4*,ISJ^<@>[>E!4%^N<:Y?48LZ7=6C/[Z5\'!:RZ4"
MN2\20[>GJ#_!$F7Z@T_DP%W?.3 'V</+?POM-_1]PK5RRC=\.FMP'DN^B6=7
M#U>D<W47>=CF90Z/"*V??'\R!+U"U#^ #YX3^+D-7P:3V,'I*?:P<C@7+J>;
MQ+%GX%W=ER^?SM@O=&J^:;@<^=B!PT6LUK)W_))$R5T<)9(DWK WN>7;>R#4
M9)\8NK2>3&Y SQ:-Z^YUFB%[&YQK\SX_5!569TP)( D^42IX!\!,!E5&SG"V
MZ!PNO>LI>8DY<U_G[=VPH5I%/NH3P"DO^%@E@)#9_MIWOUQ$L:3BLB[U,C99
MB%/].5_W0YM> 5.3:N$V$]\&WIT%PSS((.)R6RG)*Z Y@,#9)MHVU%K"=W,W
M0M56R&KW"6%GZVK(=N:#E=:[#PHIA;AN8N>R'4VZN?##PM8)%_^S2"=3\SW=
M2?G-'>V(E\R;$Z;3J$05Q*&%1ZU#:<17?A-WNT[>%VNV?=B9S+=+REX/_?*Y
M0D$I4#B%CPWE!>)OEW@0R!'?2!@^7+%MXM(H8G>;%N%E%,"Y'I>YYHM3;:8;
M >$YR##J0\"#2#..2+,@T\<*X7JS9Z(L Z==F7?4*F^BN'P2O'VO+9U,P!H.
M-RAY,/=*RI:2LQ(#WRZ[Z0QS@_[C<T\J&K$N"Y>:F7ZKXIJ^U8KA 0Z:\EL#
M=KK59+J/L?=6 ?&->N<!P=73V,&Y^/CQ_ _--$M4$SN9K_&\<L1TG_-PD9>J
MF-UBX1NM^J',LHZ1PQW>^S;N7#O;&U)HK <43]6;4@UZM<X&?01".8.,*@9>
MMJ*(HY@5G@\I,W%V/=76-A$_*NW>Y#!^"&',/FL8(^+@AS%: CXDPW(XMTZ8
MVX/*Y,E$#FOA]R\?7TJ>F0/2JBSAMMCWR%528E3R50\8U[P0SZ^A=8>Q3^2A
M-Y6&M\^E7IJTW%TPE?IU8=&AZAE3AWZZ+Y0?Y$M<)26J3SY,SC\8=[?-.<WG
MPKDT<_7>*<_UNW=3I"T\XW8]WGN#C%WFF*)A1A=U =^"7U:V[C_<TIX[NE<^
M-_XY8DI-2^4/5KI7]?RP!$1KNL$PZWYS_[O.^5!5H)B$..#H,88*W\BH%S)5
MG)ML)1KO"]\=LOKJ4L!>"9_GFL-**#<6A+]D8JA!X/K74^S-YY&+[2Q(JLXS
M*X<I[N@&[E* S?\=,MD^P\)#&&-ETI?=)R%;69VV8HQ 2CQL:5$X?Z4N+CY/
M@ CF%/5KDV^T84I9DYNVFSSS(,?<V4&$1AU$$57S_JHD^3O/0768_&!M]3#=
MR;MS-KC?^-\;[Q]K"S%%8UNAZZM$4[IL.0NR4[Y4A6)@<X0F-&#BMI/]ZW[%
M0#;@@+LR/PJ/#8>1T_O_*KE_'V;]XW&V7M1_C*6":C9'9C-#Z&!N?38$DMDV
MCY[\M]QZ(/5]3S&@TP"0TQPHANT B'HV:B9%L:?663R5*30N,U]<U?SPH+>U
MWU%)[OK $$<R@1[W",4(-@ +UD$(XU5LU,* N?W/)WK\YC_96UF0RK1G3F1L
MVPG9Q\PYJRJA4,<'T@^Z,$^8O==Q$_&!$D%;RYO$MBI*96QA8(Q30[F'5\87
M3K'[/=HM86N879B<QHZ-.\$K2FH%4B"C_33[W_DTZL'C.[O\O*# "503=L2V
M1YCN\/$'W&-8U^^\8%*T;^@BKF?>QE)E1KR]L]K%]=S1LH+KIZU>>.>=T+R\
MO3N& AUU81Z$DB.I3>6FP*6ZVTZR^2.<.? 7+@5'VE8WE73/B;0!6\KONA_-
M1=.=L@%I8X]NCYO]Y1FJ4-76Y::+PMMEA]FG+[OKX5YKL\L_B/MB.]#WO@X&
M@JRG+^B<?<PC\SH\B22KB$U3'F2&655?T<F-P(2</GN\5(Q*P./S>JG.>]IO
M[AI67>'7SW$N.W C,U1&8,.*SD>[7)5F3=F7^Z5A$''H8:,:O59\10YFC1-8
M+PXQHNU&WB=U-HO^S!\/Q8?XB/,H4_A$2^_19]C(JKA75P82X@XA;*"7=PCY
MW/>]_%;/Z+Z@/(_I9QAHI@8@1PPMP!@4!%\!HO-Q>:Y,X3Z*?\'A'Q5=E )&
M:[G/RHO<9-=QL24N_>-L$P5QI]R^;;'WI?]_)O-!N"5_&@I91A4EXQ*RR1)9
M&4XDO*B=G8T!R>A&5UWO\G1:E]\386%\^@7.>KMP>R>!J0U+U4]D#-3%W$&'
MJ7?I>FR=GTX4(P\UE3NIPRAMX 1<FK$\2;@621ER0K'2NUR@JH.FEK>']WUD
MN0+72%=0BKA$[9.X0T\RMR/!$C[U!<VKA2!C;<&90^0# G*!]98Q7J2'+64S
MZZ4395_>'?X3^FD^9CV%$5).SV_*#BI0M 6:3V8<>#_;JYG+\%M3M?Z85K^E
MD\"(0TV]@Y)QMI<M*70Y #YM8F4R).30YU_L>^U%A;;\_-&COWUQ1ZM2#[D3
M80U&^%S8*#BE#\I-*S\A5''B<9VQVNHM6:<:OF!K:V)HP0_[O@6(O_C2=-CB
MIN'#_'.[+LPKS(W)SZ80?^2>P)$L[U#[5TN7X*7HY93BT-:&DY2(PO<+YQV+
MU>.UCH40Q:)6C3^.CT]HG5S[T'3 ?^TFYZBP7-A0I8YLZ$0 6I0N0G8RHJ">
M^6D_0H1]^O"&\\=:U^?%,?<KGPV<_,.Z# MG2[IS%-1A:@9/>XUFD8$WJ:E;
MM?3BWZ>H@[RS5VG/48U?49(@9][^4%SLX%HS]]0_:J4XCWQSR!R7DV'SWC6\
MVL]<9\"R_=@W&=_&UD#"TCB(7&2K #[:.8=@Q2&P6'.3#,+O:QDR92.@AQGO
M=1$/;EGS/T[89ZG]U07]IG!V6]XYF1@8>-.K<LRK%&Z3O^52[0JKG'Q'1#R&
MB3:(+32(?/=CL$VKY3GE_RB2-6?$*"J'#O,+-C_4^N2-5O-^&X QZT--58+H
MJD$<Z?2U00((*G C<-.EIT)DQZ_&ZO5[WDXGF"/?9!E'CSF[K,LI7<VPYLI[
M:H1)G/^8:A694?<^J^KW&"$D;%% L&L5YH9/4*09!X=27%H.E#O FH<=E;!>
M5WZV-;XIGLZZ<*@D]QLBRZ1//*O$(^Q]S$K>M5,QSQ[JG_&J_6N; =82-C4
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M/_[X"DU032;Q)-O7&T^RC@_HK]*5"=PL2*\B69VQ%?+7)B$&F05A\!+84(0
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MD*+^3HF&IGC:A38U<,9LRKAM?LM.U(A?X?-$7Y?F_"U*_87HM$\4L:F_ZV_
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M?KL>N]0N!_9$[.W5T2T2>CF<2$ATE.KWB[<CI3WSRJ[H4W6K&+75Y$_L'BE
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M;?L&$?F0+KV#@'10>H^H@(@(HO02 >D"T@0D$!0!*2$" DJ+ DI1B/1.Z$5
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M)=C4O^CGU9&$#-&<5*'@.W\LITZ,DP#/X[8OH=[P4C;,;WQ@3"1R$]MSU-'
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M)(OR!\H[VWZ6A":#=:U?A]9Q:E-^\$P2 +TM%P<ZZ/[]32CB[S_4Q3B 34F
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M4$L! A0#%     @ 4X$X4>"L=[ZD&   79,   \              ( !S18
M &5X:&EB:70Q,#$X+FAT;5!+ 0(4 Q0    ( %.!.%&N"A[S2"P  %FK!  4
M              "  9XO  !E>&AI8FET,C$R,#(P+7$T+FAT;5!+ 0(4 Q0
M   ( %.!.%&H'5&M.P,  $L*   4              "  1A<  !E>&AI8FET
M,C,R,#(P+7$T+FAT;5!+ 0(4 Q0    ( %.!.%&6>D;%;@@  "<X   5
M          "  85?  !E>&AI8FET,S$Q,C R,"UQ-"YH=&U02P$"% ,4
M" !3@3A1";?6<HT(  "+.   %0              @ $F:   97AH:6)I=#,Q
M,C(P,C M<30N:'1M4$L! A0#%     @ 4X$X4?3B^NEB!@  \"$  !0
M         ( !YG   &5X:&EB:70S,C(P,C M<30N:'1M4$L! A0#%     @
M4X$X4657@2F&'0  *6<! !               ( !>G<  &UT;BTR,#(P,#<S
M,2YX<V102P$"% ,4    " !3@3A1E1/'3ALR  !)'0( %
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M2P$"% ,4    " !3@3A1B(><G"-B! "CIS  $P              @ $2G ,
M;71N,C R,# W,S$Q,"UK+FAT;5!+ 0(4 Q0    ( %.!.%'8SJ6GLE8  ..D
M   5              "  6;^!P!S=&]C:V=R87!H,C R,&$P,2YJ<&=02P$"
M% ,4    " !3@3A1D-:SA'7=  #D1@$ "P              @ %+50@ =F%I
M;&$P."YJ<&=02P$"% ,4    " !3@3A1?5@&RLUU @"ZI0( #0
L    @ 'I,@D =G)M87!F>3(P+FIP9U!+!08     $  0  0$  #AJ L

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